What is Crypto Gambling?

Like any new business, cryptocurrency gambling is currently dynamically developing without leaving indifferent every fan of new products and technologies. But what is so special about this currency that almost everyone thinks to switch to it?

Benefits of crypto gambling

People can hear about the features of cryptocurrency from everyone who has used it at least once, and this is the best choice of currency for online gambling. The main advantages are as follows:

  1. The anonymity of the owner.

The use of cryptocurrency increases the level of anonymity of all users of the payment system and significantly reduces the possibility of identifying the client’s private data. Cryptocurrencies now have the highest level of anonymity.

The privacy issue worries a fair number of online casino visitors. Filling in the fields of the questionnaire with personal information, the player willy-nilly thinks: how reliably will this data be stored? Where are the guarantees that postal addresses and phone numbers will not be publicly available? It is not always possible to find specific answers to such important questions in the sections with the privacy policy.

At the same time, some crypto casinos assure their users that they can play cryptocurrency anonymously on their gaming sites. Somewhere the amount of required data to register a new account is reduced, somewhere a simplified verification is offered or something like that. Some places do not require virtually any personal information from the user at all.

  1. Decentralized structure. 

Crypto does not have a single center for transfers or issuance of banknotes, so it cannot be controlled or prohibited. This allows gamblers to play online casinos and make withdrawals from any point in the world.

  1. Instant payment processing. 

Cryptocurrency winnings can be obtained immediately without additional checks, commissions, and other pitfalls.

Anonymous cryptocurrencies for gambling

Bitcoin is considered to be pseudo-anonymous. The degree of transaction privacy it provides is more than enough for cryptocurrency gambling. But compared to some of the more recent coins, BTC still loses out, since blockchain analysis allows tracing transactions.

After Bitcoin, cryptocurrencies appeared, which were created with an emphasis on the maximum privacy of transfers.

  1. Monero 

Monero cryptocurrency provides several mechanisms at once that make transfers anonymous. These are ring signatures, metadata hiding, disposable addresses, and traffic passing through anonymous nodes.

  1. Zcash 

This is a cryptocurrency, the creators of which managed to implement confirmation of transactions without disclosing the addresses of the sender and recipient, as well as the amount of the transfer.

  1. Dash 

This altcoin is often found in crypto casinos and may even overtake Monero and Zcash in popularity.

Dash is based on the Bitcoin protocol, but with significant changes aimed at improving the speed and privacy of transactions.