The online gambling industry has always been proactive in adopting the latest technologies for improving its players’ online gaming experiences, so it is no surprise that UK online casinos are at the forefront of the cryptocurrency revolution. Online casinos have correctly recognised cryptocurrencies are here to stay, as has the UK Gambling Commission which has incorporated within its regulations cryptocurrency legislation.
UK Online Casinos Using Cryptocurrency
Most of the top online casinos are now also crypto casinos, facilitating the use of digital monies for many of their popular online games. In basic terms, a cryptocurrency is a form of virtual currency that operates wholly independent of HM Treasury and the central banks. Decentralisation’s two-fold benefit is a relative lack of interference from government bodies combined with stringent security measures to protect customer data and digital funds through powerful encryption techniques. Many UK online casinos have taken advantage of the positive reportage of cryptocurrencies and incorporated the Gambling Commission’s regulations relating to online security and data protection within their crypto business. To this end, the online gaming industry has correctly identified that cryptocurrency is here to stay, identifying as cryptocurrency casinos to satisfy the needs of the modern customer.
The Bitcoin Casino And Beyond
Cryptocurrency’s popularity has seen over four thousand types of digital coin become available across the web. Of these, there are some which are especially well suited to online gaming and widely used by many players on a daily basis.
One of the first and most well-known virtual currencies, Bitcoin is readily accessible and popular, although maintains a high value against the US dollar. It is accepted by most online casinos, including the popular online slots.
It retains stability in the volatile digital currency market, usually no more than a 5% variation on either side. In this context, Ethereum is especially suitable for online betting – the currency can be safely stored in users’ online wallets with the knowledge that it is unlikely to suddenly devalue.
Backed by Ethereum, many UK online casinos have issued these user-friendly digital tokens. The tokens facilitate the provably fair algorithms to ensure the best experience for the player. Easily stored in Ethereum wallets, the tokens are not universal across all online platforms but are increasingly popular.
Like Bitcoin, this digital currency has been around for some time, catered for buying online goods and services. To this end, it’s perfect for online gaming and is more user-friendly than Bitcoin as well as providing greater anonymity. Although not as widely accepted by some online casinos, it is increasing in popularity.
A cryptocurrency similar to Bitcoin but boasts faster transaction timescales and is a cheaper alternative. It is suitable for online gaming with its stable value and is highly accessible from the majority of online market platforms.
Cryptocurrency – How Customers Can Benefit
Online gambling has moved with the technological times, and transformed the online casino experience for customers. Important aspects to cryptocurrencies have guaranteed their success, namely clarity, transparency and positive profiles. The rise in popularity is in line with the expectation of better online data protection, and the cutting edge encryption technology gives customers peace of mind that their data and funds are protected. This sense of trust for customers when depositing and withdrawing funds is integral to the continuing success of the online gaming industry. Combined with a simplicity of use, easy to buy and store in online wallets, cryptocurrencies offer the same access to a wide range of well-loved online games, including craps and poker while the online slots are popular with Bitcoin.
The Future For Crypto Casinos
The advent of cryptocurrency hailed a new technological era for the UK online casino industry, its use by customers growing exponentially in line with positive media profiles. Users are appreciating the multiple benefits of virtual currencies that not only facilitate straightforward access to their favourite games but give peace of mind for their online gaming experiences. In addition, applying technological advancements in security can bring commercial benefits to the casino operators for customer increase. Within this framework, the cryptocurrency business can only continue to develop and evolve, offering superior online gaming environments for customers and operators alike.