What New Gamblers Need to Know About Crypto Gambling
Gambling is a huge part of our culture and history. Humans have been wagering on different games of skill and chance since the earliest civilizations. It is then not at all surprising that we still gamble to this day. However, in the high-tech world of the 21st century, a lot of people prefer to do their gambling online.
Online Gambling
In the mid-90s, online casinos were first introduced to gamblers. However, it is only recently that the online gambling industry has managed to flourish. And flourish it certainly has. iGaming generates billions of dollars annually, all across the world. More and more people seem to be flocking to online slots, roulette, and more.
Slots are, of course, the most popular game to play online. There are excellent websites where you can play simple games. One example would be the Novibet slots, which are very diverse, offer some great payouts, and excellent bonuses. However, you will also find many different options, if you prefer card games like blackjack or poker.
Another innovation that the 21st century brought is crypto gambling. But, just what is crypto gambling, and what do newbies need to know about it? In this article, we explore that very topic.
What is Crypto Gambling?
Crypto gambling is, simply put, gambling online using cryptocurrency. In 2009, the mysterious Satoshi Nakamoto unveiled Bitcoin to the world. And ever since, the crypto boom has reached an increasing number of people. So, it was only a matter of time before it reached the gambling community.
In 2023, most online casinos, and even some land-based ones, have begun accepting crypto-based deposits and offering crypto withdrawals. The practice of using crypto to gamble is so popular, that it has even given rise to “crypto casinos.”
What are Crypto Casinos?
Crypto casinos are exactly what they sound like. They are websites that specialize in gambling using only cryptocurrency. You can place Bitcoin bets, and withdraw Ethereum if you win. Or you can stick to just one cryptocurrency. It is really up to you.
The more crypto casinos grow in popularity, the more likely that new people find out about these websites. Which means, there are a lot of uninitiated people, who may want to try their luck at crypto gambling. So, what do you need to know if you are new to crypto casino?
What You Need to Know?
First of all, you should be aware of the fact that crypto gambling is just as risky as crypto trading. Cryptocurrency is one of the most volatile assets you can find on any market. Which is why we would recommend you only try crypto gambling, if you’ve already mastered crypto trading.
The second thing to be aware of is licensing. Online casinos need some way to show they are legit. And the best way to do so is to show they have a license. Licenses are sort of “seals of approval,” issued by top authorities, whose goal it is to ensure gambling websites are on the up and up. So, if the website you’ve selected is unlicensed, then it is likely unsafe, and best to be avoided.
