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Introduction to Crypto Poker
Traditional poker is a popular card game in which players bet against each other based on the value of the poker card in their poker hands. Players bet through chips and after the game ends, players trade those chips for money. Crypto poker is nothing but the traditional poker played with cryptocurrencies.
Importance of Crypto Poker
Cryptocurrencies are intangible but at the same time, they are the most reliable assets one can fathom. This is the reason why people are becoming more comfortable in using cryptocurrencies for online transactions, especially in casinos. Nowadays, people are spending more time on the internet and this sudden upsurge is probably the outcome of easy access to the internet. Online casinos are cashing out this opportunity by providing lucrative benefits to people and diverting them towards online casinos.
Gambling is a form of entertainment but gamblers should play responsibly, be it poker or any other kind of casino games. Playing online poker with cryptocurrencies has both positive and negative aspects. The fact that online poker is available 24/7 can make players addictive, which is undoubtedly the negative aspect of online poker, but playing crypto poker has a positive side too; most crypto poker casinos allow players to set a limit beyond which they won’t be allowed to wager on any game thereby saving themselves from overspending.
Crypto Poker for Online Poker and Casinos – More Freedom & Anonymity
Playing poker with cryptocurrencies confers more freedom and anonymity to players. Players can register at any online casino without going through the lengthy identity verification procedure. They are also not required to upload any document at the time of withdrawing their winnings from the casino. Thus, their gambling activities always remain secret and all these are possible because of the innovative blockchain technology working behind crypto casinos. You can click here to know more about the crypto poker and online casinos.
Why is Crypto Poker the future of the Online Poker or Casino Industry?
Crypto poker will become the mainstream online poker in the future due to the following reasons:
Security has been the main issue that casino players often complain of, but if players choose to use cryptocurrencies for transactions in online casinos, security can never be an issue. Crypto casinos encrypt each unit of the currency used by the players which means the units of the currency are converted into special codes that are virtually impossible to decode. Thus, both the funds and the information are safe if players play at any crypto casino unless he shares the private key of their crypto wallet with anyone, that no sensible player would ever do.
Cryptocurrency transactions are instant because they do not require any confirmation from any third-party financial intermediary; the transactions happen directly between the casino operator and the players without any middlemen to intervene.
Cheaper Operating Costs and Low Transaction Fees
In the case of traditional casinos or even fiat currency online casinos, a huge percentage of the players’ winnings are deducted to pay for the transaction charges levied by the banks for providing various services. These huge overhead costs can be eliminated if players use cryptocurrencies in their transactions. Moreover, as the transaction costs are reduced considerably, crypto casinos compensate the players in other ways; they pass on the benefits to players in the form of higher payouts and lucrative bonuses.
Players registering at any crypto casino for playing crypto poker only need to share the wallet address with the casino site and thus other details remain confidential; anonymity is one of the most unique features of crypto-powered casinos.
As cryptocurrencies are volatile assets, players may either lose or win money if the value goes down or spikes high. Thus, if the crypto value spikes up, a player can earn multiple returns- one from the profit (if he wins) and another because of the surge in the crypto price by selling his winnings.
Related Article: Top Crypto Gambling Sites
Pros And Cons of Crypto Online Poker
|Crypto poker casinos allow players to play anonymously||Cryptocurrencies are highly volatile|
|Crypto poker is secure||Crypto coins are still in their stages of development, and thus only a few casinos have integrated crypto into their systems.|
|Low transactions costs are involved in crypto poker|
|Crypto poker allows instant deposits and withdrawals.|
After the COVID pandemic that left almost the entire world economy crippled, gambling enthusiasts started exploring online casinos. As a result, online poker platforms started developing in leaps and bounds. Although crypto casinos were popular even before the pandemic, people who are not very convenient about using cryptocurrencies avoided online casinos, but now that there is no option left other than playing in online casinos, people are realizing the benefits of cryptocurrencies.