New Online Blockchain Casinos — to Play, or not to Play?

Online casinos are becoming more popular. A wider variety of casino types has emerged. Blockchain or cryptocurrency casinos are one of them. These sites give players the option to use fiat money instead of cryptocurrency. These new online casinos are gaining popularity because they use decentralized currencies instead of centralized ones. There are also some downsides. 

With this in mind, it’s a good idea to check out all that these sites can offer before signing up. Let’s take a look below.

Staying anonymous 

You can find regulated New UK Casino Sites in 2024, it’s very important to check whether specific features are available. Playing at a cryptocurrency casino or blockchain casino may be a more desirable option for many simply because it offers greater anonymity. Many players hesitate to use online casino because it requires them to give their personal and financial details. It is also necessary to go through the Know Your Customer process (KYC). 

Many crypto-casinos do not require these steps. In fact, they’re not even needed. The casino can verify the player’s identity and finances by using the blockchain. Casinos can check the player’s finances using this method without needing to know any details. This means that players can get started playing much quicker. 

Additionally, players who use cryptocurrencies to make online bets or transactions do not leave any trace. The transactions are not recorded by the financial institution, unlike when using eWallets or bank transfers. This adds to the anonymity of the proceedings.

Playing safely and securely

Most blockchain casinos provide good security in addition to anonymity. This is because they use SSL encryption protocols to secure player data and personal details from third parties. These types of casinos will also generally hold a licence from a governing body such as Curaçao. A casino that holds a licence of this type is required to follow specific safety and security protocol. These include responsible gambling tools like self-exclusions, deposit and loss limitations or the option to set a cool-off period. 

There is a problem with this, however. A number of cryptocasinos operate without a licence. This doesn’t mean players can’t play there, but it does increase the risk factor. Some casinos that are not licensed may be scams. If something goes wrong, players have no recourse to get their money back or help from a governing authority. It is important to play at these sites with caution.

Enjoying unbiased games

These new cryptocurrency casinos have a wide selection of games. As with many online casinos, a large selection of games is essential. Most top crypto casinos provide games in all genres, including slots, virtual cards, live dealer games and crash games. These casinos have an edge when it comes down to gaming fairness. These casinos also typically offer a range of games that can be proven to be fair. Provably fair games, unlike standard online casinos that have a third-party auditor check and audit the games for gaming fairness, can be checked by players themselves. Players can verify the fairness of games by using blockchain-style algorithms. The games are more enjoyable for players with this additional level. 

Some casinos may have a limited selection of games. This is particularly true of casinos without a licence, or those licensed by lesser-known jurisdictions. This can occur because some game providers simply won’t provide casinos without a licence access to their games. In some cases, this can mean even worse. If a crypto casino has a licence, but lacks the games of big-name providers, it could mean that they are not trusted or safe.

Reduce transaction times and fees by removing fees

Using cryptos can offer players many additional benefits, on top of anonymity. Crypto transactions are often fast. Deposits can be instant as can withdrawals, once they’ve been checked. These sites are faster than traditional casinos at processing payouts. 

Using crypto reduces the need for casinos implement fees. There are minimal fees that can be charged, but these are usually transparent and reasonable. There are no currency conversion charges. Crypto can be used in any country, so there are no currency conversion fees. 

However, there is the issue that once a crypto payment has been made, it can’t be reversed. It is important that players are sure they want the payment to go through before they authorize it. Fiat payments are reversible, and there are safeguards that allow players to get money back or a refund if the site turns out to be fraudulent. Crypto is different. 

Let’s also not forget that crypto itself is volatile. It can change so quickly, that what could have been an excellent win can be reduced by the slightest change in the stock exchange. It is also possible to win big on the other side. This is part of what makes cryptocurrency casinos so exciting.

Final Thoughts

As you can see, there are several benefits to playing at crypto or blockchain casinos. There are, of course, also downsides. But, it’s really up to each individual player to make the decision regarding whether or not this type of casino is for them. 

Checking out player reviews and judging the overall reputation by looking at player complaints and the casino’s response to them, is an excellent way to discover whether or not to play on that site.