What is the Difference Between Crypto Casinos and Standard Online Casinos?
The key difference between traditional online casinos and those that accept cryptocurrencies is apparent: the latter lets you use virtual currencies to settle payments and make wagers. Yet, there is more to be aware of if you want to engage in crypto gambling.
Regulation
While online casinos may be licensed and monitored by local gaming bodies in regulated markets, crypto casinos are decentralised like the money they accept. Although that doesn’t mean they operate without a licence, you won’t find a crypto casino with a licence issued in a jurisdiction like the UK or US states. Instead, most of them are licensed in Curacao.
Anonymity
Thanks to their decentralised nature, cryptocurrencies let you make transactions anonymously. Basically, each transaction is made under a pseudonym, so it won’t be recorded in your bank statements. Because of that, verification procedures at crypto casinos are more relaxed than those performed on conventional casino sites.