Cryptocurrency and blockchain technology are digitally interdependent and go hand-in-hand at every application. The online gambling industry is the latest domain to welcome cryptocurrency and drive the popularity of crypto casinos worldwide. Crypto enthusiasts, as well as professional gamblers, are getting quite interested in Bitcoin casinos and crypto casinos. Players from different countries are placing their bets together at virtual casino tables in these crypto casino platforms. However, only a few are aware of the difference between a crypto casino and a blockchain casino. When one tries to search for their difference on search engines, there’s hardly any information to suffice the query. Here’s a comprehensive comparison between crypto casinos and blockchain casinos.
What is Crypto Casino?
Cryptocurrency casinos are online casino platforms that accept cryptocurrency payments. Crypto casinos are primarily known for operating solely on Bitcoin, Ethereum, and other popular cryptocurrencies. They work like regular online casinos, except that they accept digital currencies and fiat currencies. Crypto casinos operate likely a regular casino, online or physical. A decentralized crypto-exchange is generally integrated with crypto casinos for placing the player’s bets in cryptocurrencies.
What is the Blockchain Casino?
Blockchain casinos are online casinos that operate like regular casinos but run entirely on the blockchain. These casinos use blockchain technology to create a digital system that records every piece of information on gambling transactions. Blockchain casinos are equipped with robust security for the transactional data, making every hack or cheat in the casino impossible. A blockchain casino is essentially an online casino that uses a digital ledger of transactions distributed across an entire network of nodes (computer) on the blockchain.
Crypto Casino vs. Blockchain Casino – Main Differences
In several aspects, blockchain casinos and crypto casinos work similarly. However, two main differences set blockchain casinos apart from crypto casinos.
- Gameplay: A crypto casino offers a wide range of casino games. There are different games for selection, and players can choose from slots to classic table games. Comparatively, blockchain casinos have a limited variety of games. Also, the games and their rules are controlled by the crypto casino and/or the game providers. This is a key determining factor for the payouts of players. In blockchain casinos, the casino does not have any role in controlling the payouts. Hence, it is difficult to attest to the win rate that most crypto casinos claim.
- Transparency: Cryptocurrency transactions survive on transparency. The transparency of Bitcoin is a key contributor to its global rise as the largest cryptocurrency. Gambling experts believe that cryptocurrencies used in casino transactions must reflect the highest form of transparency. Blockchain casinos take the lead, compared to crypto casinos, in that all the transactions are visible and transparent. Players can monitor their earnings, deposits, and withdrawals on the blockchain. The transactional data of blockchain casinos cannot be tampered with. However, for crypto casinos, the level of transparency surpasses as far as the flow of payments in and out of the casino. Crypto casinos also accept standard fiat currencies such as the US dollar and Euro. It becomes technically challenging for crypto casinos to provide complete visibility on all the transactional data with transparency. Blockchain casinos take this transparency to a whole new level by providing precise information on not only the payments but the casino operations as well. Players can check if a blockchain casino has paid its players properly on the offers or promotions that come with huge monetary prizes.
When both the differences are considered, blockchain casinos are more trustworthy than crypto casinos by eliminating the chances of cheating. On the other hand, crypto casinos keep the players more engaged.
Similarities between Crypto Casino and Blockchain Casino
Apart from the above two differences, almost every aspect of the crypto casinos and blockchain casinos are similar. Both casinos are operated online and used to attract players digitally. These casinos have a physical absence in most countries. The regulatory acceptance of crypto casinos and blockchain casinos is considered a work in progress. In several countries, crypto casinos and blockchain casinos are considered illegal by their respective gambling commissions.
Another fundamental similarity between them is that they both accept cryptocurrency for payments. While crypto casinos also accept fiat currencies, blockchain casinos depend solely on crypto transactions. Most of these casinos have similar gaming variations and operate these games under the standard rules set by casino regulatory authorities in the US and the UK.
Crypto Casino – Key Advantages
A crypto casino, however, is more popular than a blockchain casino. It engages players into an online arena for gaming, gambling, and lotteries. It drives the adoption of Bitcoin and other cryptocurrencies. The main advantages of crypto casinos over other casinos include:
- Anonymity: Crypto casinos ensure that player information and identity is not disclosed and all the strategic data stays hidden from the competitors.
- Online game variations: Crypto casinos have the most number of variations for every casino game, which drives their engagement rate significantly.
- Transaction fees: Crypto casinos charge zero fees on crypto transactions and help players earn without any cuts.
- Unlimited daily transactions: All transactions made by the players are free of any constraints whatsoever.
Owing to these advantages, players continue to trust crypto casinos and make them popular in the professional gambling community.
With blockchain casinos, the online gambling experience is developed with dApps and codes that ensure fair and transparent gameplay. With crypto casinos, the experience may face the downside in terms of transparency but offers a higher number of quality games. Gambling at a blockchain casino may become boring and repetitive, while crypto casinos always have something new to offer.