Cryptocurrency is a very strange concept. It has made a bit of a bad name for itself in mainstream media as a lot of the general population do not understand what exactly it is.
So, what is Crypto currency and can it really be used legitimately to play online slots at Mr Luck?
What is cryptocurrency?
The easiest way to think of cryptocurrency is as digital money. That is it. It can be exchanged for goods and services online between other users of the currency.
You may be familiar with some of the cryptocurrency providers such as bitcoin or PayPal.
Where this payment method gets complicated is in how it works. There is no physical form of cryptocurrency. It is all digital code. How it works is that each amount of the currency is its own digital strand. That makes it almost impossible to counterfeit.
But it isn’t real money. Will an online casino accept this as a means to deposit and play slots?
Crypto Slot Sites
There are certain slot sites that allow players to deposit using cryptocurrency. These are known collectively as Crypto Slot sites.
You can use these slot sites to play slots with cryptocurrency however there are some things you must consider.
The worth of cryptocurrency is dictated by its status on the stock market. This means that the amount your cryptocurrency is actually worth can fluctuate unlike real money.
That could mean that the amount you need to deposit could be more than it was previously. Or, even more devastating, your jackpot could significantly shrink in value overnight.
So, why use cryptocurrency to play slots?
Pros of Crypto Slot sites
Well, the main thing that keeps people using cryptocurrency to play slots is is that the odds are slightly better.
There are crypto slot sites out there that have completely 0% house edge. No house edge means more takeaway for the player. However that does come with the aside that the money they’ve just won might be of a completely different value next week.
Cryptocurrency is also not recognised as a legitimate form of currency in some countries. It might be naughty, but this form of currency is perfect for players that want to play slots in countries where gambling is illegal.
In fact, in these countries, cryptocurrency is the only way to gamble online. That leads us back to the original point. The legitimacy of Crypto Slot Sites.
It is easy to see why the general population might consider cryptocurrency an illegitimate means to pay for slots. Its value is often changing and it allows people to work around gambling laws which gives the method a rather seedy image.
However, cryptocurrency is still a legitimate way to deposit to play slots. There are even Crypto Slot Sites out there that actively encourage it. Just always be careful and read the terms and conditions of a digital currency before you commit to using it and you will be fine.