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A crypto casino is not exactly the same as a cryptocurrency-supporting casino. Although they are used interchangeably in common usage, it is really worth distinguishing between them. Moreover, this is an important question for the future https://phreesite.com/spin-palace-casino-review/.
A crypto casino can be a gaming site entirely based on the blockchain. In other words, the architecture of the casino games and the site uses mechanics that create an even more transparent and reliable user experience.
Of course, it is highly likely that in crypto-ka zine or blockchain casino will be able to pay with cryptocurrency. However, purely theoretically, this should not be the case as long as the general principle of operation in the block diagram is followed.
There are currently no licensed casinos in Estonia that operate in any way on the basis of open network principles. However, in a local context, we can talk about gaming portals that support cryptocurrency.
In this case, it no longer matters whether this innovative technology is guaranteed by casino games or by a general registration on the portal. The only thing that matters is whether the casino offers its users the ability to make deposits and withdrawals in at least one cryptocurrency.
That is why we are simplifying things a bit and in the context of Estonia we are talking about crypto casinos as a cryptocurrency-supported casino. Later, when more real blockchain casinos are added to the local market, we will update this guide!
What payment solutions should you expect from crypto casinos?
The world of cryptocurrencies is volatile - and so are some of the slot machines you can play with them! New cryptocurrencies are regularly added to the market, but not all of them become famous enough to be used in casinos. Next, we will give you an overview of the main banking solutions at a cryptocurrency-enabled casino.
bitcoin
Bitcoin continues to be the primary means of payment for crypto casinos. This is the absolute leader in the world of cryptocurrencies, and this is directly reflected in the introduction of the unit in online casinos. While casinos often have a payment platform for many other cryptocurrencies, Bitcoin can often be used for direct deposits and withdrawals.
However, it is worth remembering that, compared to other altcoins, Bitcoin payments can take longer on average. This can be an important decision when you are thinking about the fastest way to withdraw winnings from your account.
Since Litecoin was created to combat bitcoin's slow entry, quite a few cryptocurrency-enabled online casinos have started accepting it. Sufficient coverage has been achieved to win over more users.
However, over time, cryptocurrencies appeared with even faster transactions compared to LTC. So, if you have already purchased Litecoin, you can play in crypto casinos.
Ethereum
Along with Bitcoin, Ethereum continues to be one of the largest online casino producers. It is used as a payment method in crypto casinos because it has a smart network of contracts and the highest level of security.
Since security is one of the top priorities of online casinos, this is why Ethereum can be found in many online cryptocurrency casinos. However, compared to bitcoin, payments are often made using a third-party payment platform.
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