The Growing Popularity of Using Crypto to Play Slots
An increasing number of gamblers worldwide are using Bitcoin and other cryptocurrencies to play online casino slots. The iGaming industry has always been at the forefront of modern technologies and was therefore among the first to adopt digital assets on a wide scale. Already today, deposits and withdrawals made in BTC or altcoins are rapidly becoming mainstream, with more and more punters gladly buying into the crypto frenzy.
But what is the reason for such huge popularity? Let’s dig a little deeper to explore the topic and find the answer.
More Online Casinos Now Accept Cryptocurrency
Much of the growing popularity of digital assets among casino players can be attributed to their ever-increasing accessibility. Indeed, the number of crypto-friendly gaming websites has skyrocketed over the past few years, making Bitcoin, Litecoin, Ethereum, and many other virtual coins an inseparable part of their banking.
Numerous benefits of digital money were well-known a long time ago but their limited availability did not allow for broad implementation. Obviously, it is the massive crypto adoption that triggered the surge in the number of players who have discarded traditional payment methods in favor of their hi-tech counterparts. It’s safe to say that nowadays, every online slot buff can take advantage of hassle-free and fast transactions that also offer a high level of privacy protection – no matter the country of residence.
Cryptocurrencies Used for Playing Casino Slots
Even though Bitcoin slots are the first association that comes to mind, the palette of cryptocurrencies used by players is far richer and more diverse. Of course, the pioneer among digital assets is still in the lead but numerous altcoins, stablecoins, and all sorts of other “coins” are successfully gaining ground. Again, it is safe to say that BTC still holds the number one position as a result of its wide availability. You will be hard-pressed to find a crypto-friendly gambling website that does not accept it while the choice of other virtual money can vary greatly from one online casino to another.
At the moment, the world’s second-biggest cryptocurrency is Ethereum, which is getting closer to the leader thanks to its incredible flexibility and versatility. In contrast to Bitcoin, ETH is not finite, leaving enough room for an army of developers interested in creating new value on this immense software platform. Plus, players who usually use crypto only as the means to deposit or cash out funds appreciate its affordability, as well as the fact, Ether is not prone to sharp swings.
Last but not least, incredibly popular NFTs (non-fungible tokens) are the product of the Ethereum blockchain, which provides almost endless opportunities for enthusiasts of unique cryptographic assets. By the way, not so long ago, Red Tiger made a big splash on the online gaming scene by releasing NFT Megaways, an action-packed casino slot with CryptoPunks 914, 3008, 4701, and 8143. These four unique collectible characters are considered the very earliest examples of non-fungible tokens while this famous software provider became a trendsetter.
Bitcoin Cash, Litecoin, Ripple, and Dogecoin are other cryptocurrencies that are used by fans of one-armed bandits pretty frequently. However, USDT is arguably the one to get most of the attention lately. Tether is a stablecoin, which means it is different from Bitcoin and similar assets because it is centralized and pegged (or tethered) to a real-world commodity. For instance, USD₮, the most widespread of all Tether coins, is pegged to the US dollar while the market also features tokens tied to Euro, Mexican Peso, British Pound Sterling, and several other fiat currencies.
Provably Fair Slots
The Provably Fair technology that owes its birth to the development of crypto gambling is another reason why players like spinning the reels with Bitcoin or its alternatives. First introduced by SoftSwiss, a Malta-headquartered iGaming giant that went through rebranding in 2021, this easy-to-use feature is represented by a very complex cryptographic-based algorithm and allows punters to verify the result of each round, making sure the outcome is absolutely random and, hence, 100% fair.
The beauty of the Provably Fair system is that patrons can do all the checks by themselves and in real-time, without the need for the involvement of any third parties.
Advantages of Using Crypto to Play Slots
In the world of online gaming, the advantages of cryptocurrencies are hard to overestimate. Fast payments, low transaction fees, the highest level of privacy protection, and even better bonuses – combined together, these details make an offer, which is hard to resist.
It’s no secret, problems with deposits or withdrawals remain the main headache for the vast majority of players in different parts of the globe, low-rollers and high-pullers alike. Using crypto to play slot games eliminates all the unnecessary layers, providing for nearly instant deposits and fast hassle-free cashouts, which typically take less than 24 hours to be processed. Today, more and more customers of gambling websites enjoy the full benefits of easy Ethereum deposits made with MetaMask, a very convenient wallet exclusive to this blockchain.
The attractiveness of low transaction fees is self-explanatory and most crypto wallets provide clients with the opportunity to find their perfect fit between speed and costs. In addition to that, the creation of such wallets does not mean providing any personal info or sensitive data. The latter cannot be misused or stolen while the owner of the wallet has its privacy fully protected. One more crucial detail to consider is the global market of digital assets remains mainly unregulated, which implies that such winnings are usually not subject to tax.
That’s why slot players want to win crypto.
Actually, there are more advantages to playing slots with Bitcoin, Ethereum, and other widespread digital assets. Typically, online casinos offer more lucrative bonuses for crypto depositors, giving them that little extra that can be enough to hit a life-changing win.
This is especially apparent in welcome packages intended to attract new customers who, of course, do not want to miss their chance and get more bang for their money. As a rule, websites that provide better sign-up deals for crypto enthusiasts also offer them more favorable bonuses intended for existing patrons, be it reloads, cashback, or casino spins. Some operators go even further, running special slot tournaments and giveaways for players who fund their accounts with cryptocurrencies.