Cryptocurrency is one of the most popular payment methods that attracts enthusiasts of innovative technologies. Today, it has entered the gambling sphere as well, and the number of operators willing to start a Crypto casino is increasing. Below are the reasons why crypto gambling platforms engage players and a simple guide on how to create an online Crypto casino.
What Is Crypto Casino?
Crypto casino is a gambling platform that offers players the opportunity to make deposits and withdrawals in cryptocurrency. It also offers the possibility to use traditional payment systems for fiat money transactions, as well as cryptographic payment methods. In this way, it addresses both old-school players and gamblers who accept new technologies.
Benefits of Crypto Casino
Crypto casinos have a number of advantages over online gambling platforms that only accept fiat currencies. Players choose cryptocurrency as a payment method due to its benefits:
- Instant payments: Crypto transactions take significantly less time than usual payments as all money transfers are made directly.
- Secure: The blockchain technology that powers Bitcoin and other cryptocurrencies ensures a high level of encryption. Every transaction is recorded in a block of code that can never be altered, and all transactions must be verified by the decentralized blockchain network.
- Transparent: The transactions are direct, going straight from one crypto wallet to another, which cuts out the involvement of any third parties and reduces opportunities for fraud and other security breaches, as well as cutting down on transaction fees.
- Low fees: No financial institutions are involved in crypto transactions, therefore, users don’t have to pay high commissions while depositing or withdrawing money.
- Decentralization: Instead of being backed by a government, as is the case with fiat currencies, cryptocurrencies are backed by a decentralized ledger where all transactions are registered.
Cryptocurrency helps online casinos to attract a large number of players as it offers:
- Confidentiality. Online casinos usually require users to register and to do so, they have to provide their personal data as well as bank accounts for wins withdrawals. Cryptocurrency allows to conduct transactions anonymously and guarantees personal information protection.
- Low deposits. In Crypto casinos, players are allowed to make minimal deposits. For instance, the deposit may be equal to the amount less than a dollar. This feature is especially loved by players who aim at enjoying the process of gambling and not at getting huge wins.
Operators willing to start a Crypto casino should be aware of cryptocurrency’s high volatility and remember that Bitcoin’s price depends on various factors and can dramatically change in a short period of time.
What is the difference between normal online casino and crypto casino?
Every casino that accepts cryptocurrency payments can be considered a cryptocurrency casino. However, some casinos incorporate blockchain technology into their platform. This allows them to automate payments with smart contracts.
Opening a crypto casino can limit your gaming portfolio to only those games that are also built on blockchain technology. On the other hand, more and more casinos accept payments in cryptocurrencies in addition to fiat currencies. This gives them wider coverage, both in terms of the base layer and the game content.
How to Open a Crypto Casino?
When starting a Crypto casino, operators should follow the same basic steps as while launching a traditional gambling platform. It is essential to obtain the same components:
- Platform software
- Payment systems
Software development is one of the most complicated parts of the process. It is important to buy software that will be entirely safe and reliable, therefore, operators should only turn to trusted developers. Apart from that, attention should also be paid to the payment systems integration. It is necessary to offer users a wide choice of ways how they can deposit money.
Today, the crypto gambling platform software is offered by different companies. Szilaghi Consulting can assist you to select a Crypto online casino with already integrated payment systems. As an operator you will get:
- a reliable casino hosted on a secured server for smooth operation;
- a ready-to-use financial infrastructure with integrated payment systems, allowing users to make deposits in Cryptocurrency, as well as other popular cryptocurrencies;
- integrated high-quality gaming content;
- casino management and control tools;
- suspicious activity tracking and anti-hacking programs for a fully protected operation;
- newsletter management and other marketing tools for a crypto casino promotion;
- advanced configuration of loyalty programs to encourage players to stay in a crypto casino.
When setting up a crypto casino, operators need to consider the importance of high-quality software. If it is well developed and guarantees safe and smooth operation, players will continue to play in a crypto casino.
Now is the time to secure a significant chunk of the available market.
Szilaghi Consulting offers consultancy services and complete package solutions for gambling license acquisition that include:
- Gambling jurisdiction and business advisory
- Gambling business corporate structure incorporation
- Opening bank accounts
- Gambling license application
It is always a good time to open an online casino. The industry is just beginning and its growth is accelerating only as people spend more and more time online.
Although cryptocurrencies have started slowly, they are here to stay. As the value of Cryptocurrencies rises more and more, the value of opening a casino that accepts cryptocurrencies increases with it. Making transactions with an e-wallet becomes the norm.
Right now, there are two options: one in which you are happy to have created a Crypto casino and one in which you can’t believe you missed the train with such an opportunity.
Contact our consultants to learn more about how to start your own Crypto casino.