The online gaming industry has been revolutionized by the introduction of online casinos that use digital currencies. These crypto casinos allow players to buy in and wager with virtual coins.
However, the growth of this form of gaming has confused some and led to some misconceptions and myths related to it. If you’re a skeptic about crypto gambling, here are 7 of the most common debunked myths about this type of online gambling.
Myth #1: Crypto Casinos Are Illegal
Perhaps one of the most common myths about crypto casinos is that they are illegal and operate outside of the law. However, the truth is that international crypto casinos are often regulated by authorities in their respective countries. This simply means that these Ethereum and Bitcoin casino sites are regulated abroad and thus are safe to use. As the global regulatory environment is still evolving, we can expect to see more countries coming into play with regulations that favor cryptocurrency casinos in the coming years. As always, players should review local laws in their home country before wagering.
Myth #2: Crypto Casinos are Unsecured
The very essence of crypto casinos is to provide extra security measures to protect players from potential data breaches. These sites run on blockchain technologies which is an immutable ledger that is tamper-resistant. Therefore, crypto gambling sites have robust security protocols including advanced encryption technologies, secure wallets, and cold storage solutions. In addition, gambling sites using blockchain security measures are not exempt from regular security audits. The periodic security audits are to ensure compliance with industry standards, which creates a secure environment for players to wager and win.
Myth #3: Crypto Casinos are Only for Tech-Savvy Players
Over the years, crypto casinos have incredibly evolved to platforms that prioritize the user experience. As a result, players have user-friendly intuitive interfaces at their disposal that accommodate players of all skill levels. To improve accessibility, modern online casinos that support cryptocurrencies have clear instructions as well as responsive customer support. So, it doesn’t matter whether new players have advanced tech skills or not, crypto casinos have a welcoming environment that allows anyone to easily navigate and enjoy their favorite games.
Myth #4: Crypto Casinos Offer Limited Games
The thrill of casinos is centered around the diversity of games they offer. Likewise, crypto casinos aim to replicate the same experience of both land-based and traditional online casinos. As a result, players have ample options to choose from based on preference, some of the more common options include classic slots, card games, roulette, video poker, and even sports betting. Partnerships with top game developers ensure that players always have a long list of fresh options to choose from.
Myth #5: Crypto Casinos are Only for High-Rollers
With cryptocurrencies being adopted by people with differing financial resources, crypto casinos have also been designed to match the accessibility of digital currencies. Most platforms have inclusive betting limits which allow players to wager as little as a few cents or as much as thousands of dollars. A lot of the games are also designed to cater to different budgets and preferences. Low-stakes tables and micro-betting games are the prime examples of these types of inclusive games.
Myth #6: Crypto Casinos are Unfair
By prioritizing transparency, crypto casinos have provably fair games which means that players can verify the randomness and integrity of game outcomes. All plays are recorded on the digital ledger that players can access to determine the fairness of the games. This transparency extends to educating players about game statistics and payout percentages while also providing auditing information. Crypto gambling sites give players peace of mind and confidence in the gaming process in line with the core objectives of blockchain technologies.
Myth #7: Crypto Casinos are a Fad
Contrary to popular belief, crypto casinos are not a fly-by-night success but rather are part of a rapidly growing sector with long-term projected longevity. As the crypto scene grows year-on-year, so do the prospects of online casinos that make use of digital currencies that fall under this category. This can also reflected by the growing number of new platforms, the development of new innovative games, and the expansion of user bases, in addition, the evolving regulatory adjustments favorable to crypto casinos signal a positive trajectory for this industry.
