Cryptocurrencies and slot machines - a perfect storm?

The Gambling industry evolves in step with the times. Think about the first slot machine in the market, the one-armed bandit by Charles Fey. Now, compare it to the modern video machines available at online casinos. We can easily understand how casinos such as Kingcasino.com have changed and adapted to technology transformations.

The same has happened with the latest technological changes. The introduction of virtual reality and 4-D graphics, for example, have revolutionized the original concept of casinos. One of these technological innovations, in particular, has changed the gambling world forever. We are talking about cryptocurrency.

The origin of cryptocurrency

The first virtual money was already introduced in 2008 and was called Bitcoin. Among the 2411 virtual money existing in the market, this is still the most used one. Over the last years, many new virtual currencies have made their apparition. We are talking about Monero, Litecoin, Etherum, Ripple or Dash to name just a few.

Cryptocurrency can be defined as a very safe payment method. Paying by virtual money is easier and faster. You don't need to bring any money with you (therefore you risk less!). Also, all your transactions are registered. This system works through a new technology called Blockchain. It passes information from a block to another in chronological order helping store unmodifiable data. In turn, payments become faster and more reliable.

The advantages of Cryptocurrencies at online casinos

Thanks to cryptocurrency, payments have become safer. This has caused an increasing number of players to join online casinos. Encouraged by the possibility to risk less (and win more), they have opened virtual wallets where to store their money. Not all online casinos accept virtual payments yet, but the number of them which in the last years has opened to virtual money has rapidly increased.

What are the advantages of using cryptocurrency for casino players? Well, first of all, the value of this virtual money can increase over time, they are indeed volatile. This means that an astute player, who keeps informed on these shifts know how to make the most of them.

Another positive side of using virtual money is they are safe. Players don't need to put any personal information. The code you get for paying gets destroyed as soon as you use it. Also, transactions are anonymous. This guarantees the protection of your data.

They make you save money and time. Compared to traditional casinos, the transaction fees to pay are lower and faster. You will get your payments done in the blink of an eye.

Also, crypto casinos have no restriction. You can access any of them from any part of the world without limits. This is another reason why players are now choosing virtual money.

Last but not least, using cryptocurrency you have access to rewarding bonus offers. There are 100%welcome bonuses and many prizes like free rounds or tickets to join special events.

Final thoughts

We can easily claim that the introduction of virtual money has revolutionized the casino industry. It has indeed created a well-oiled mechanism. Some more changes are bound to happen soon. Stay tuned.