You’ve most probably heard of Crypto Currency or seen the term somewhere in an article before, if you haven’t then, you should know a little more about it. Crypto Currency is, essentially, a digital currency that is made up of a ‘collection of data’ and is designed to work as a means of online digital currency. The currency is decentralized, as such, each variety of currency uses its own digital ledger also known as a Blockchain, how does Crypto Gaming work though? The size of the beast
You might be surprised to learn that the online gambling industry has an estimated worth of around $55 billion which is an ever-increasing figure and you can never mind year on year, this thing is growing faster by the minute. There are, an almost unlimited number of games for online Crypto Gaming that range from video slots, the old favourite – ‘bingo’, sports game, cards and, some newer games feature 3d animated characters, stories and worlds, just like a traditional computer game!
Essentially, the games are host to a massive world of online gambling whereby, you get the chance to play the games and win money, if you do well and, lose money if you don’t do so well. Because of the interest that Crypto currency has created, there are a growing number of gambling company’s/websites that are now offering to trade with you, in the form of Crypto currency, depending upon which type of currency you are using, of course.
How does it work?
Typically speaking, Crypto gaming is a mix of your usual, online casino games, some really interesting looking, modern day animated games and, of course, betting with cryptocurrency. The benefit of this kind of set up is that you can fund your gaming with your Bitcoin or one of the various other types of Crypto that are available for you to use. This may include Dogecoin and orEthereum instead of using your traditional paper form of money, be it dollars, pounds or Euros, in fact, pretty much any currency for that matter (you’d have to check on the particular company’s website).
So, what’s the difference?
Very little actually, when you consider how the process works, it’s purely the currency and Blockchain that is different so you would either need to already have some crypto currency knocking about or, buy some in order to play. Sure, they would be happy to take real money instead but, you seem to get a better return if you use some form of crypto, over your traditional paper and wallet.
The games themselves are, in some cases quite literally identical and vary massively, if you haven’t looked in a while or seen one before, it’s worth a quick look, even if you’re just window shopping so that you can give yourself a better idea of what it’s all about.
Should I try crypto gaming?
From an ethical point of view, nobody is suggesting that you should try Crypto gaming however, if you are that way inclined and you like money then it’s best you know a little rather than nothing. The most successful gamers so far are those that are already trading in the world of cryptocurrencies. Some people might want a way to make money or, to build up a fund that is both anonymous and safe, even the taxman can’t get a look in, yet.
What kind of equipment do I need for crypto gaming?
To get yourself a foot in the door, so to speak, you’ll need the following;
- One cryptocurrency wallet of some sort.
- You’ll need to register for an account with whichever company or site you choose to look at.
- Some form of device that has Internet and browser capabilities, either a tablet, a smart phone, a PC or a laptop, any will do.
- For an experienced web user, setting up the wallet and gaming account is quick and uncomplicated and there are plenty of free tutorials to assist.
Are there any dangers? As with any form of gambling, there are the usual dangers of losing all of your money, ending up in debt, losing your home, or assets depending upon how your estate is protected. There is also the question of online hackers which, because of the growing interest and subsequent value of cryptocurrencies, are actively looking for targets so, you’ll want to read the website’s user agreement very carefully and make sure that your setup is as secure