Everything you need to know about IDO
Whether you are someone who is actively investing in cryptocurrency or someone who is just…
Cryptocurrency seems to be on everyone’s lips during the day. Bitcoin sets new records, new currencies are released on the market and it is almost as if you have fallen completely off the load if you have not yet secured any coins. From a pure investment object, cryptocurrency seems to be in full swing as a means of payment. From ATMs that provide access to the crypto account to online stores that charge in Bitcoin and other currencies, we may have begun to taste what the future will be like. One industry that really seems to have taken it inwards is the casino industry, where deposits with cryptocurrencies at online casinos have begun to decline.
Now that more and more of us are sitting on Bitcoin and other coins, a need has automatically arisen to be able to use the coins for more than just as a pure investment for buying and selling. A number of online stores are already up and running, and a multinational company such as Tesla has announced that they are working on a solution for cryptocurrencies. Large movements are thus underway. In the online part of the casino industry, it has been possible to deposit money with cryptocurrency for several years already. If you own cryptocurrencies such as Bitcoin, Ripple or Ethereum, you only need to go to a casino that offers cryptocurrencies, and it will be possible to make a deposit in a few seconds.
If you have already bought a cryptocurrency, you also know that it is associated with risk, as fluctuations in the exchange rate have a significantly greater impact than on the stock exchange. When one Bitcoin is worth over 50,000 dollars, then a change of 1% will amount to as much as 500 dollars, or almost 5,000 kroner. Combined with the fact that these effects can occur in seconds, you have a clear idea of what the risk entails. With cryptocurrency as the payment method online, you already have the solution ready. The way the casinos solve this is that they use third parties who handle the payments for them. Look at them as crypto agents who act as an intermediary between you and the casino. When you make a deposit, or withdrawal for that matter, the current exchange rate will automatically be locked and remain valid until the transaction is completed. Maybe not completely without a time limit, but more than long enough that you have time to complete the payment free for fear of negative fluctuations in the exchange rate.
Payments with cryptocurrency at an online casino offer many benefits. First of all, you have an easy way to use coins, for something that is entertaining and can potentially increase the value of your coins considerably. The crypto casinos also solve a challenge that many Norwegian casino players have faced in recent years. It has become more difficult to make payments to online casinos directly from a bank account or with a credit card. Cryptocurrencies remove this concern. There are also benefits on the cost side and the time it takes to pay. First, it is almost always free to pay with cryptocurrency, both for deposits and withdrawals. Secondly, it may also be the fastest way to pay. Especially on withdrawals that have historically taken up to a week with some methods, a crypto payment can be made in a few seconds. Talk about improvement! The crypto payments at the casinos are also anonymized and as secure as you can get them, thanks to the almost impenetrable block-chain technology.
The selection of casinos that offer payments with cryptocurrency is in extreme growth. From just counting a few a couple of years back, there are now several hundred casinos that give you this opportunity. Initially, it is the Curacao (Netherlands Antilles) licensed casino that gives you this opportunity, and it means lots of choices. Including several Norwegian-language online casinos that allow you to make deposits and withdrawals in your favorite currency. Bitzstarz and King Billy are two good examples of this. There have also been pure crypto casinos that only trade in cryptocurrencies and where even the casino is created on a decentralized network where you have made your own coin. BC.Game is a good example of this.
If you have not already bought a cryptocurrency and are considering buying, it is recommended that you start by learning more about cryptocurrency first .