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The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of these has to be the anonymity that using cryptocurrency offers. There are many players who might wish to keep their personal details private for a variety of reasons. The key one is that data breaches are becoming an increasing phenomenon in the online world – but if there aren’t any details on record, they can’t be stolen. Looking at it from the casinos’ perspective, this is another strong feature, especially when one considers the eye-watering fines that data breaches can attract – as British Airways recently discovered.

Another major advantage is the speed and security of transactions compared with traditional fiat ones. The latter can take days to be carried out thanks to the slow systems that many banks still rely on. While these may offer some advantages in certain payment scenarios, the same is hardly true for players in online casinos. Almost without exception, they will want to be able to deposit stake money and, more importantly, claim their winnings with minimal delay. In terms of security, the blockchain system ensures that the casinos can be confident that they will receive genuine payments that are also irreversible.

Then there’s the question of costs of transactions. Banks and other financial institutions tend to demand fairly high percentages while these are kept at a more reasonable level by the various currency exchanges like Binance, Upbit and Huobi. This has a knock-on effect for players too as the cryptocurrency casinos can afford to offer more generous bonuses than if they were being burdened by higher transaction costs cutting into their margins.

Last, but by no means least, there’s the fact that Bitcoin is a currency without ties to any particular country or financial institution, as well as being subject to some very well publicised fluctuations in price. The former makes it ideal for players in virtually any country in the world who can play and win without having to factor in the generally not very good exchange rates offered by their banks or card companies. The added fact that the value of the currency has the potential to increase rapidly in value (and decrease too) adds an extra frisson of interest for players who may like to gamble on more than just casino games.

Bitcoin casinos on the rise

The number of online casinos with bitcoin accepted as a form of payment is on the rise. Some affiliate sites now have a distinct section dedicated to them. As recently as a couple of years ago there simply wouldn’t have been enough to justify this, but times change quickly in the world of online casinos.

Currently, many of the sites offer the same kinds of games that can be found on so-called mainstream ones and there’s also a good selection for poker fans. But one thing that hasn’t yet started to appear is the adoption of cryptocurrency payments by the major online operators. This may be due to a certain nervousness about accepting a currency which has certainly earned a certain reputation in the past for being involved in less than legal activities. But as it becomes more and more accepted, this may well change in the future.

It’s simply a question of momentum and, as everyone from retailers to banks start to accept it as a legitimate currency, the current situation is certain to change as it becomes more widely used as an alternative to fiat currencies.

And that, we can be certain, will mean many more Bitcoin casinos on the way.

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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