The Difference Between Crypto-Friendly and Crypto-Exclusive Casinos
Understanding the difference between crypto-friendly and crypto-exclusive casinos can save your trouble in the long run.
If you are somewhat new to gambling on the net with Bitcoins or other cryptocurrencies, you may not understand or realize the difference between the many different types of crypto gambling domains out there. Some are cryptocurrency friendly, and some are cryptocurrency exclusive. These are not the same thing. It is well worth understanding the difference between the two, and that’s what we’re here to help you within this guide.
What Are Crypto-Friendly Casinos?
At its most basic, a crypto-friendly online casino is a cryptocurrency casino that accepts Bitcoin, Ethereum and other leading cryptocurrencies like Rollers.io gambling site. However, it is not limited to doing so. It may also accept FIAT currencies, including US dollars, euros, or British pounds sterling. The key identifier here is that crypto-friendly casinos accept both FIAT and cryptocurrencies in most cases. This has a profound impact on the type of service they offer.
The Hallmarks of Crypto-Friendly Casinos
Because these types of casinos accept FIAT and cryptocurrencies, there may be issues with the types of games you can play. Not every casino software provider has made their games crypto-friendly. In short, you may end up finding some games that you cannot bet with BTC or ETH on. Your cryptocurrency deposits are often converted into FIAT currencies for gameplay, and this can see you suffer from a less than desirable exchange rate. Moreover, bonuses and promos may only be claimed in FIAT. On the upside, if a cryptocurrency suddenly losses a lot of value, you can still play at the same casino by switching over to a FIAT currency.
What Are Crypto-Exclusive Casinos?
By contrast, a crypto-exclusive casino is a site that only accepts cryptocurrencies. These may be less desirable to newbies but attractive to long-term BTC fans. The downside to these sites is that if the value of your cryptocurrencies takes a turn, you’re stuck with them. You cannot swap over to a FIAT option. They may accept half-a-dozen cryptocurrencies, if not a dozen or more. There are also perks to playing at these sites.
Currencies Accepted at Crypto-Exclusive Sites
Of course, if your casino only accepts Bitcoin, Ethereum and other cryptocurrencies, then this means certain things. For starters, you are only going to be able to claim bonuses and promotions in cryptocurrencies. Secondly, any of the games supported at the site will easily let you bet with BTC, ETH or another well-known cryptocurrency. No conversion of cryptocurrencies into FIAT occurs at these sites.
Which Type of Crypto Casino Is Superior?
Of course, which type of crypto casino is superior depends on the type of player you are. If you’re 100% committed and comfortable with cryptocurrencies (and the bubble that surrounds them), then crypto-exclusive casinos are well worth your time. However, if you are generally new to cryptocurrencies or aren’t convinced that their value is here to stay, crypto-friendly casinos may be more your cup of tea, as there is less risk (but less compatibility) involved.
Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.
OhNoEthereum via https://www.ohnocrypto.com/ @Carolyn Coley, @Khareem Sudlow