Bitcoin, Crypto currency, Blockchain

The influence of the crypto-currencies on the gambling industry, Coin Hero

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The influence of the crypto-currencies on the gaming industry

Home News the influence of The crypto-currencies on the gaming industry

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David –
31.05.2019

More and more players become aware of the fact that Bitcoin gambling brings several advantages. It is a fast-growing can popularity, which is mainly attributable to the fact that the gambling with crypto currencies known to the technological Basis of the Blockchain and widespread problems of the conventional gambling solve.

Traditional gambling with various problems

In particular, issues such as data security, slow transactions, various restrictions and high fees ensure that players around the world are often faced with problems. First, the data safety relates to not only the game of luck, but all of the Online activities, such as the scandals around Facebook showed. Especially when it comes to personal finances, no one wants to share more of its data.

Secondly, it is not easy to wait several days before a payment is completed. In our fast-paced world, it is downright absurd, why do we need so long on the hard-earned gains to wait.

Why should we also pay for the irresponsible high fees, in order to involve third parties such as banks in the processes, now automated, is elongated and low, if not no, cost should be?

In addition to these exclusively to the payment Details you focus on the transparency is missing-often completely. The gambling Community is aware of these doubts machinations are liable to be aware of. Finally, how can the Blockchain and crypto of these problems currencies to tackle?

Blockchain & cryptography are the solution

What are the core elements of the Blockchain technology, so that other industries are interested in this? It is mainly the anonymity, the exclusion of third parties, as well as the transparency of all processes. By crypto, these advantages have been transferred to currencies successfully on the gambling industry.

Now players need series, only two figures, to obtain the amounts of crypto-currencies: the own eWallet address, and, in some cases, a public key. In order for a transaction to carry out, must be no players of his personal data. The gambling platforms, such as 1xBit ask your new users during registration, not even an Email address. An account will be opened in a click.

The transactions themselves due to the absence of third parties – such as banks – are significantly faster and have significantly lower fees. Some crypto gambling platforms even require any fee at all, so your users will only have to pay a insignificant network fee. Take the payout with the traditional methods due to the involvement of banks or other financial systems is relatively long, the duration of currencies, as in the case of Crypto significantly lower and depends on the respective Blockchain usage.

There remains the question of the trustworthiness of the gambling platforms without the Blockchain is always in question, since the principles of Operation are not shared with the players. Block chains, such as EOS and Tron revolutionized meanwhile, the gambling world because they give players the opportunity to check the correctness of the Return-to-Player Rate (RTP) and hit frequency. Various developers of gambling software already rely on this modern technology, in order to be up to date.

1Xbit as a spearhead in the use of crypto-currencies in the gambling

All of the practices described are fully consistent with those of 1xBit. It is one of the first betting providers operating exclusively with crypto-currencies. Currently 1xBit accepts over 20 different digital currencies, as well as unlimited access to sports betting and gambling in an anonymous and safe environment. In addition, the platform offers detailed information on all upcoming sporting events to improve the user experience even further. Complete anonymity, exclusive bonuses, simplicity of the payment in crypto-currencies and customer support around the clock, the players know, why you sign in to 1xBit.

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