Virtual Currency Gambling Online
The world is pack full of new virtual currencies that are all decentralized from the current financial system. This new form of virtual money is not only a new way to make payments along with storing money like you are your own bank as the technology behind it offers far more than just that. Its original purpose may have been to disrupt the banking system to create a more fair playing field that anyone on the planet can access but it is transforming all industries at record speed.
The online gambling industry has taken control of the bettings marketplace and has replaced high street bookmakers and casinos. You will still find a large number of successful outlets in places such as Las Vegas due to this being a gambling capital but on a whole, they are closing at record rates. The next trend that is currently taking place is that traditional platforms are been replaced with blockchain and smart contract technology. With bitcoin gambling codes available that give free BTC and spins, it is no surprise why these sites are gaining popularity.
It is impossible for fiat based casinos to compete with the new technology offered by cryptocurrencies. One of the problems they face is that it requires large amounts of human resources to run a successful casino which makes running a profitable one extremely difficult. Smart contract based casinos that run on the Ethereum network do not have such difficulties as everything is fully automated by code protocols handling requests and confirmation. This means that the running costs of decentralised casinos against a traditional platform are far less which means they can out-compete them on odds and the house edge.
Two long-standing problems fiat based gambling platforms have faced is long payment delays and customer privacy. Bitcoin solves both of these issues due to offering lightning fast transactions on the blockchain with little or no cost. It also enables players not to have to enter their banking information or have gambling transactions show up on their statement. This can cause problems for those looking to get credit or finances as these types of transactions count against your credit rating.
The latest trends also show it is not just bitcoin as a virtual currency that is in great demand as others like Dogecoin, Litecoin and Ethereum are popular with gamblers. Now there is a huge choice available online that players can choose to gamble digital money at. There are also many hybrid casinos that accept payments in both fiat and crypto.
One of the biggest rising trends so far in 2018 is gambling platforms that have their own digital money available that can be used to gamble at smart contract casinos. These are fully automated and decentralized with makes gaming more profitable, fair and hassle-free. Expect this sector to rapidly grow in 2019 due to the huge amount invested in gambling ICO and blockchain based casinos.
Many will argue that holding cryptocurrencies is a form of gambling and they are correct. The problem with that argument is that so is fiat money and many believe that the financial system is on the verge of collapse. If they are right, those that have invested in crypto will be well insulated from the economic collapse of the world. For further details about bitcoin gambling and to get promo codes visit https://bitcoin-casino-no-deposit-bonus.com/