Social casinos are an evolving niche of free online casino operators with the opportunity for paid play. Many of these providers are also increasingly branching out into the world of cryptocurrency, which makes them a great choice for users with privacy on their minds.
Are you ready to dive into the world of free gambling and secure transactions? Let’s talk about social casinos, cryptocurrency, and how you can take advantage of both at the same time!
Which Social Casinos Accept Cryptocurrency?
Some of the most popular social sweepstakescasinos that accept cryptocurrency include:
- Fortune Coins: Founded in 2022, Fortune Coins is based in the US and offers players over 500 games!
- LuckyLand Slots: Founded in 2018, this provider is licensed in Malta and offers players around 150 slot games at the time of writing.
- Stake.us: Founded in 2017, Stake.us has years of trustworthiness behind its name along with hundreds of slots and other casino games to offer players.
What Are Social Casinos?
You might be familiar with the idea of an online casino, but maybe less so with the idea of a social online casino. Both kinds of operators allow players to bet on games and play a wide range of titles. The difference lies in the kind of money players use to wager. Traditional casinos require players to fund their accounts and wager with real money. Social casinos are casinos that require no real money whatsoever.
The idea behind social casinos is that some people like the spirit of competition and the thrill of rolling the dice but are less keen about spending their money in the process. Instead of spending money on gambling, they have other priorities. Some people like the idea of gambling in their spare time, but simply don’t have the money to do so. Social casinos are designed with the casual player in mind.
At social casinos, players use on-site money to bet. They wager with this free money, and if they win, the winnings are added to their balance. You don’t play for real money at social casinos, of course – at least, not with the free coins. Players use a proprietary coin developed by the operator. They typically receive a welcome bonus of coins as well as a daily replenishment so that they always have plenty of money to play with.
All in all, a social casino is a ‘gentler’ form of gambling. It offers the excitement that so many people love from real-money gambling without the potential impact on finances that traditional gambling can cause. It’s a good choice if you want something to work towards and you want to have risk-free and pressure-free fun.
Even though the whole story about crypto and blockchain technology is rather young, it has proved to be rather useful in loads of segments. Very quickly, people have recognized the potential blockchain has, and saw its usage in so many industries, including gambling.
Online casinos have been on the rise in the last couple of years, and we have the internet to thank for that. And the appearance of smartphones. Those two have contributed to its rise like nothing else so far. So, today, you’re able to gamble wherever you are, enjoying whatever game of your liking. All of them, from the classic ones to the newly developed are online.
But since you’re reading this article you must be wondering how these two have changed the way casinos work. Read this article through and find out.
First of All, the Security Factor Has Greatly Improved
When you like to gamble online, the key factor you consider before joining any platform is safety and security. The security offered by blockchain technology has attracted legions of players to crypto casino sites.
For example, when using digital assets to perform transactions, you’ll have more control over where the money goes. Because these two are public ledgers, you can easily track your funds to see exactly where they end up.
With such control, it has become challenging for hackers and fraudsters to prey on unsuspecting victims. In addition, your personal and financial information is safer when using crypto because you will not have to send this information to the website you use for your online gambling activities.
Blockchain technology eliminates the need for third parties and the sharing of personal data. Crypto allows you to directly contact the casino operator.
They Give You a Sense of Anonymity
The second thing people search for when gambling online is to keep this part of their lives private, so the need to keep all this their own personal matter is very important. This explains why casinos using these technologies are becoming so popular.
Some investors fear public stigma, while others just want to keep a clean bank record in case they need to apply for a loan. Whatever the case may be, anonymity in the world of online gaming is highly valued.
In addition, gambling anonymously has high demand in countries where online gambling is a legally gray area, for example, Japan. Hideki Nakata, who is an editor of onlinecasinojapan.com, says crypto casinos are getting more popular in the past couple of years because of the value of anonymity.
Transactions Performed Are a Lot Faster
If you read reviews of different casinos you’ll notice how a lot of what they say is connected to how fast a platform performs payouts. This is a challenge every casino strives to overcome. Most traditional banking options will take at least two to five business days to process a single withdrawal transaction.
Fortunately, if there’s one thing that makes crypto popular, it is its transaction speed. So blockchain technology and crypto have enabled the speed of these transactions to be a lot faster than in traditional banking systems.
You know the saying – time is money! With such technology, you’ll save a lot of your time, and enjoy your payouts faster than you normally would.
How Can I Use Cryptocurrency at A Social Casino?
Paying with cryptocurrency might initially seem more complicated than paying with other methods, but once you set up your account and make that first deposit, you’ll find it just as easy as more traditional payment methods. The catch here is that you will likely have to buy cryptocurrency off-site and pay using a cryptocurrency e-wallet such as Tether or Skrill.
Sign up with the e-wallet or exchange of your choice, and buy cryptocurrency using the currency of your choice. Once your account is funded, visit the casino’s cashier page and select the e-wallet in question as the deposit source. Just like that, you should be able to deposit and play!
Are you interested in gambling with cryptocurrency? Whether you have your sights set on free gameplay or want to spend a few coins here and there, you are in luck: social casinos are a great choice!
Platforms Are More Transparent and Fair
It’s no secret that online casinos use different marketing tricks to attract new players, and these involve different graphics, jackpots, luring bonuses, and whatnot. At times it is difficult to assess whether this is true or not. But when a platform uses blockchain technology, it’s a sign that there’s a high degree of transparency involved.
How? When using such technology, the room for hiding anything is very small. Hence, if you choose an operator based on this technology, that welcomes crypto, it’s a sign that they are not aiming towards putting anything under the carpet.
Online gambling laws differ from one country to another, and most restrict this type of entertainment, all in order to control fiat currencies.
The thing about fiat is that they are under the full control of the government. On the other hand, crypto does not have anything to do with them, as they are decentralized. No bank or government has control over them. So, if you feel like bypassing gambling limitations imposed by your country, choose to gamble on those platforms that use crypto and blockchain. Besides all the other commodities you’ll be enjoying, you’ll also have a sense of freedom.
It Has Made Online Gaming More Profitable
Why is this the case? Simple, it is because a lot of money is saved on additional fees, like transaction costs, as there are no third parties involved in the process. Thus making the whole business based on these technologies a lot more profitable.
Conversion rates are also an issue since there are so many people worldwide who like to indulge in good casino games. These tend to be very high, but with crypto, there is no point in converting, as they are some kind of universal currency.
More Bonuses and Rewards
We’ve mentioned how bonuses are what make people gamble on certain platforms. But did you know that crypto casino players enjoy higher and more lucrative incentives and promotions from their friends in other casinos?
It is thanks to the fact there are no intermediaries involved in transactions, as we were explaining earlier. Players who gamble like this are also often eligible for special promotions depending on the casino location in question.
After everything that has been mentioned in this article, it is very clear that this technology has contributed in so many ways to gambling being more convenient and practical. What will the future bring? It is yet to be seen.