Slot machines have hit high records of popularity in the last years, spurred both by the growing number of gamblers who want to test their chances of winning and also by the growing number of online gambling establishments that offer their customers the ability to play slots.
Up until recently, gamblers had two choices in slot games – either the physical slot machines or the online slot machines. Now, they have one more alternative, the crypto slots, which are actually paving their way in the industry very successfully.
Crypto slots are now mainstreaming online casino games, attracting more and more gamblers who find it entertaining and fun to test their luck with a dynamic and dominant trend, cryptocurrencies.
Well, are there obvious reasons explaining the growth of crypto slots? Are there apparent differences between crypto slots and real money slots? Let’s see a head-to-head comparison in order to reach some preliminary conclusions!
Crypto Slots Or Real Money Slots?
We’ve chosen to compare and contrast the two different options, by looking at the key characteristics and features that differentiate them.
Crypto slots provide real speedy transactions and payments, while real money slots follow the traditional mechanisms of financial transactions. In practice, this means that cryptocurrency payments are almost instant and very quick, while fiat currency payments take a while – in some cases, they can take even up to a week.
Playing at crypto slots means that all transactions with cryptos are recorded and stored in blockchain. This essentially provides very high security and so, you don’t need to worry about anything getting lost or getting done wrongly. All transactions are stored in blocks and then these blocks are into a chain, where they can’t be removed or modified.
On the other hand, playing slots with real money can always be subject to ‘financial manipulation’ or other issues that go along with traditional fiat currency payments.
Here we have an absolute imbalance between the two and thus an absolute winner! With cryptocurrencies, playing slots is totally and 100% anonymous. Gamblers are not sharing any of their personal information just to play at a crypto casino and also they are not providing private data when they want to withdraw their winnings, other than crypto wallet info.
On the contrary, playing with fiat currencies in real money slots requires gamblers to go through a registration process, which typically requires a lot of information to get them authorized to play.
So, on the one hand, we’ve got the anonymity ensured by the cryptocurrencies and on the other hand, we’ve got complete ‘documentation’ and recording of a gambler’s personal info. Well, rather obviously, when it comes to confidentiality there is no comparison at all…
Crypto slots guarantee that your gambling activity will remain private, and confidential and will never be recorded in ways that are accessible to others.
When considering the risks involved in slots, we immediately think of our winnings. Well, in crypto slots there are high risks that come with the volatile nature of crypto currencies, whereas in real money slots these risks are negligible -at least in the short run.
Volatility is one of the fundamental limitations of cryptocurrencies. The fact that cryptos are assets in the fluid digital world, means that their price can fluctuate strongly, even within very short periods of time. Crypto prices can go up and down very quickly and therefore when you’re dealing with cryptocurrencies you need to be careful when making transactions.
Range Of Choices
For the moment, it is much easier for gamblers to play slots at online casinos or brick-and-mortar gambling establishments than play crypto slots. Crypto casinos and crypto gambling sites are penetrating the market, but there are still considerably fewer choices for customers when they want to use bitcoin or Ethereum, let’s say. Nevertheless, with the growth rate of crypto gambling, users will have more and more alternatives to choose from in the near future.
So, there you have it. A comparison of the two on the basis of the most important characteristics and features. Now, it is your choice!
Alexia is the author at Research Snipers covering all technology news including Google, Apple, Android, Xiaomi, Huawei, Samsung News, and More.