Advantages Of Gambling With Crypto Compared With Real Money

There are now thousands of cryptos available to buy which all have different advantages attached to their protocol. Unlike traditional currency, cryptocurrency can be adapted in many different ways to provide solutions to present problems. The gambling industry has a wide range of gambling crypto coins which all have unique properties and you can build your portfolio by using the giveaways available as bonuses. There are many advantages that they possess over real money and in this article, I will discuss what they are.

Fake Crypto Gambling Platforms

Many online casinos allow gambling using crypto and real money which are hybrid platforms aimed at catering for both markets. These will not present you with the major benefits of token gaming as they are the only part of blockchain technology they use is the payment system. The games are all RGN software titles from the leading developers which are not linked to the blockchain. This means that advantages such as provably fair, better odds and complete transparency are not found at web-based casino sites.

Gambling Anonymity

Real money casinos require a lot of paperwork to be completed by the gambler to be able to withdraw. It can be a long process along with invading personal privacy with ID, Proof of Address and sometimes Bank Statements required. The operators do this in the hope that players will simply quit and not bother withdrawing money along with having to compile with financial regulations. 

Crypto gambling platforms such as FairPlay and ESBC can be played anonymously which means players can avoid all the hassle of having to provide documentation. Everything is completely private as no information is collated. Instead, games can be gambled using tokens by depositing to a set wallet address. Payouts are paid out by smart contracts so they are guaranteed along with only having to provide a wallet address.

Decentralized Platforms Are Trustless

If you do not want to get cheated out of your money when gambling you need to make the switch to a crypto decentralized casino. The reason for this is that no third-parties can alter any of the processes as they are independently checked over the network of the blockchain with a full audit trail. It makes them trustless as with the state of the art cryptography in place, everything runs in an ultra-secure transparent environment which is not the case with traditional online real money casinos.

Crypto Gambling Bonuses

You will find huge bonuses available in both crypto and real money at casinos which may even include no depositing requirements. Both promotions have terms and conditions attached along with generally available only when a player signs up for the first time or makes a deposit. The biggest difference between the two, however, is that you will get to use your rewards on provably fair blockchain games with a much better chance to win due to the lesser house edge. 

True Peer To Peer Social Gambling

Blockchain technology has enabled peer to peer transactions to take place without any centralized authority and in the gambling sector, smart contracts have taken things to a whole new level. It means that gamblers can use purpose-built escrow tokens that can be transacted anonymously at almost zero costs. The contracts created to run on the networks to verify the bet and payout accordingly if required. With no centralized party taking a slice of the profits or being able to interfere with the processes, it makes sure an unhackable ultra sector platform that is perfect for gambling peer-to-peer.

Final Thoughts

Real money casinos will still be around for the next few years but within a decade they will become obsolete as technology progresses even further. The advantages that cryptos posses can not be matched by fiat-based models. Gamblers are going to be far better off as the systems are designed around rewarding users, transparency, eliminating house edges and privacy which has all been concerns in the industry since going online.