Bitcoin is gearing up for tremendous growth in 2024 after the US Securities and Exchange Commission approved a Bitcoin ETF on January 10. A crypto ETF will lead to an inflow of investors.
But that’s not all. According to Kuba Bogdanski, a seasoned Bitcoin trader and senior manager at Cryptocasinos247, different industries can benefit greatly from adopting Bitcoin.
We recently invited Bogdanski for an interview to expound more on how crypto will boost the online casino industry. Here’s what he had to say.
Mr. Bogdanski, what got you interested in crypto?
My love for crypto began when I learned Bitcoin was designed to revolutionize money. I’m a user-experience specialist, and I love products designed to improve our lives.
Initially, I focused on buying and trading Bitcoin and other emerging altcoins. But over time, I got more interested in popularizing cryptocurrencies to online casino players.
Part of my job as a UX designer is to create designs for online casinos and software providers. As such, it was natural for me to want to market Bitcoin to the gambling community.
Do you think Crypto has changed online casinos?
Yes, definitely. Cryptocurrencies like Bitcoin and Ethereum have disrupted the iGaming sector in the last few years. For starters, more and more casinos are accepting crypto as a means of payment.
I come across new crypto casinos every day. That means there’s a great demand for Bitcoin gambling sites. We highlight some of these platforms on our website.
Another way crypto has disrupted casino apps is in the design and creation of games. Crypto developers can now create 100% provably fair games through Blockchain technology.
Blockchain Technology?
Blockchain is a decentralized ledger of records known for its ironclad security and transparency. Every cryptocurrency in the world operates with the help of a blockchain.
Some blockchains are highly sophisticated and can help developers and designers like me create futuristic ideas. The casino space is using this technology to create games whose fairness can be verified.
You see, it’s difficult to verify the fairness of popular slots. The companies behind these games don’t allow everyone to audit their games. With blockchain slots, anyone can check the seed algorithms used to trigger winning symbols. In doing so, players are assured that the games they play are fair.
What sets crypto casinos apart?
The blockchain. This technology makes casino gaming better in every way. Think about this. Crypto allows you to transact thousands of dollars to casinos in real time regardless of where the casino is located.
In fact, you could transact up to a billion dollars worth of Bitcoin around the world in a few minutes. The best part is that crypto has incredibly low fees. Last year, someone sent $1 billion worth of Bitcoin from the US to Australia. And he paid less than $10 in fees.
Wow!
Crypto is just that great. It is changing the lives of millions of people and not casino players alone.
What other benefits does crypto offer casino Players?
Beyond speed and fees, crypto also offers security. The blockchain was designed to be safe from hackers. It encrypts everyone’s data in a way that makes it impossible for fraudsters to steal your money.
The only reason people lose their Bitcoins and Ethereum coins is when they store their coins in unsafe crypto wallets. Or, if they share their private crypto addresses with ill-willed people.
Is it true that you can gamble anonymously using crypto?
Yes, some cryptocurrencies offer anonymous transactions. Despite what you might have heard, Bitcoin is not one of them. Bitcoin offers pseudo-anonymity, meaning you can use it to send money without revealing your name or address.
But if you want to pay with crypto completely privately, you need privacy-oriented coins such as Monero and ZCash. At cryptocasinos247, we focus on licensed casinos.
Some of them might allow you to deposit through Monero. They might even give you crypto bonuses. But this doesn’t mean you’re allowed to gamble anonymously. If you want to gamble entirely privately, you’ll need to take a risk on unlicensed sites.
What are crypto bonuses and are they safe?
Crypto bonuses are betting credits casinos give you to play your favorite slots and card games. Casinos give out bonuses for several reasons. First, it’s a welcome gesture. Secondly, it is a way to build trust with new players.
You might not know this, but bonuses are one of the biggest selling points for crypto casinos. Bitcoin gambling sites give you up to 5BTC in bonuses. Standard casinos max out at $1000.
While crypto bonuses can be large, they’re not created the same. This explains why so many people doubt their legitimacy. The quality of a bonus depends on the casino giving it out. If you want genuine bonuses, get your promotions from legitimate online casinos.
What’s your message to people who think crypto is a scam?
Give it a chance. Banks used to think crypto was a scam. The US government didn’t trust Bitcoin initially. And so did millions of people. Now, both American and European banks are using crypto to save money during international transactions.
The US government just approved a Bitcoin ETF. And the millions of people who gave crypto a chance are all singing praises about it. Take a little time to educate yourself about crypto.
Then find a way to use it. You can buy a small amount of crypto to play casino games. Or you could hold onto your funds as an investment.
What do you think lies ahead for crypto and online casinos?
I think this isn’t just my opinion. Many people believe crypto has a great future. Part of that future involves revolutionizing industries such as online casinos. I’m grateful for being part of the two sectors because I get to enjoy the best of both worlds.
I love crypto’s innovative spirit and I enjoy integrating innovations into the world of online casinos. I can’t wait to discover what online casinos will look like in the future now that crypto keeps growing.
