But what exactly are crypto casinos? And how to open a crypto casino in 2023?

What are crypto casinos?

In “traditional” online casinos, banking operations are carried out with so-called fiat currencies, such as reais, dollars, euros, etc. However, in a SlotsPalace Casino, or crypto casino, it is possible to carry out operations in cryptocurrencies. This means that the player can make deposits using a digital currency and, likewise, withdraw the money directly to their digital wallet – typically in the form of Bitcoins, Ethereum, and other popular and trusted cryptocurrencies.

Currently, there are casinos that operate exclusively with cryptocurrencies and hybrid casinos, which accept both digital and traditional currencies, thus catering to different types of audience.

What are the advantages offered by crypto casinos?

Most players have certainly heard about cryptocurrencies – at least about Bitcoins – but it is still normal to have doubts about this type of operation and its advantages. These are some of the good points of crypto casinos:

1) Decentralization:

Cryptocurrencies are decentralized, that is: there is no central authority to govern or broker cryptographic transactions. This means that no entity can regulate how the user deposits and withdraws their funds.

2) Anonymity:

As transactions are not tracked by a bank or government, this leads to the second advantage: privacy. The operations are anonymous, and are not linked, for example, to the name or CPF of the bettor. This can be advantageous, for example, in relation to possible taxes levied on profit.

3) Rates and speed:

As they do not go through another entity, as a rule, operations using cryptocurrencies are fast and do not have the fees charged by “intermediaries”. This allows casinos to offer better bonuses and fees in general.

4) Security:

Any online operation is subject to risks. In the case of cryptocurrencies, the values are kept on a blockchain, so it is almost impossible for the transaction to be hacked. This is a great advantage for those who want to carry out transactions online.

And, after all, how to open a crypto casino?

To open a crypto casino, it is necessary to follow the same steps as for a traditional online casino. In a first phase, it is important to make extensive planning, which includes:

• Target market selection and competitor research;
• Research on licensing and legal issues;
• Choice of games offered and sketch of website design;
• Budgeting, including pre- and post-launch phases of the site;
• Selection of marketing strategies.

After planning, it’s time to choose igaming software providers . This is another important moment, which requires an analysis of the pros and cons of each company. Often, skimping on software can spell failure for the site as it is the main point in an online casino, so you can see the best online casinos at cassino brasileiro online and play.

The chosen company must offer the preferred games of the chosen target audience, such as slot machines, table games, lottery, live casino, video poker, etc. In addition, there must be the possibility of customizing the site, resources for effective management and guaranteeing user safety. Finally, it is also important to check aspects such as regular updates and technical support.

Currently, companies like NuxGame already offer their customers specific solutions for opening crypto casinos. Its packages include legal advice, reporting and website integration to give users the ability to use cryptocurrencies such as BTC, mBTC, USDT, Ethereum and others – outside of fiat currencies.

After building the website, it’s time to put marketing into practice. In the case of crypto casinos, a good strategy is to turn to sites and influencers that stand out in the cryptocurrency world, thus conquering an even larger target audience.

Conclusion

Online casinos that offer gamblers the possibility to operate with cryptocurrencies are much more attractive than those that operate only with fiat currencies. Punters like the idea of the anonymity and security of cryptocurrencies, as well as the bonuses and fees offered by these bookmakers. Therefore, anyone thinking of opening an online casino in 2023 should invest in this type of technology, using NuxGame and other companies specializing in igaming solutions.

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The speed of its work is achieved due to high performance servers. It uses a specialized algorithm of SPV payment verification. Electrum Wallet can become almost a full hardware wallet. It has a portable version that allows you to copy it to the media.

Website: https://electrum.org/

Elecrtrum application is available for personal computers and smartphones, works with Windows, Android, Linux, macOS. Access to the wallet can be restored with a sid-phrase, private key or locked wallet file. Compatible with popular hardware wallets like Trezor, Ledger . There are three versions of the distribution for Windows: Standalone Excutable; Windows Installer; Portable – for transferring to another device.

Elecrtrum’s level of protection is high, so it has never been hacked, unlike its update mechanism. In winter 2018, hackers used a sophisticated attack to advise users to update their client to the latest version, after which malware was downloaded, stealing users’ finances. And in 2019, a similar attack happened again, so versions younger than Electrum Wallet 3.3.4 are more vulnerable.

However, the service is still invulnerable if you keep the secret phrase in the protection and download updates only from the official site. The application is safe largely due to the fact that the source code is open, as many experts participated in the development of the wallet. Plus, two-factor authentication protects against intruders and unauthorized entry. Multiple users are able to use one wallet using multi-signatures.
Electrum Wallet uses a cold storage system, which means it stores private keys offline. Connected to the Internet to make a transaction, the wallet remains open to view only, which makes online payments convenient and secure.
Elektrum has HD Wallet technology, any next transaction creates an updated Bitcoin address, which increases security, so there is no need to fear or struggle with it.

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With the help of internal services a variety of financial operations become available to users. Its main task is to convert funds that are in the user’s account. It is also worth noting the simple and intuitive interface of the platform, the absence of conversion fees, good security, the availability of many cryptocurrencies.

Website: https://www.cryptonator.com/

Cryptonator is an all-in-one online Bitcoin wallet which supports multiple cryptocurrencies such as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and others. It enables fast and easy direct transactions and allows instant exchange between different cryptocurrencies in one personal account. Combining usability with high level privacy , anonymity and security, Cryptonator offers free multi-cryptocurrency accounts, which are accessible 24/7 worldwide on your laptop, desktop or mobile devices alike.

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The wallet requires downloading the entire bitcoin blockchain to a computer, which requires a large amount of free memory as well as time for full synchronization. The wallet is a validation point for other transactions on the bitcoin network.

Site: https://bitcoincore.org/

A new version of the popular Bitcoin Core client has been released (v 22.0). It features support for the upcoming major Taproot update, which is scheduled for November 2021.

The client was worked on for about eight months, with about 100 people contributing to the creation of the new software. For the first time, the developers decided to drop the zero at the beginning of the version name (22.0, not 0.22.0 according to the old template).

The Bitcoin Core 0.21.1 release already included activation logic for Taproot. Bitcoin Core 22.0 is the first major release with support for the update itself, which is considered the largest since Segregated Witness was activated in 2017.

To hide IP addresses when connecting nodes, Bitcoin Core users could previously use the Tor network. Now they have an alternative solution to protect their privacy.

Invisible Internet Project (I2P) is a decentralized peer-to-peer network. It is an overlay, stable (disconnection of a node will not affect the functioning of the network) and anonymous. Encryption is used to transfer data between nodes on the network.

Back in version 0.18.0, released several years ago, Bitcoin Core implemented support for hardware wallets. However, it was implemented through a command line interface.

Since version 0.20.0, a graphical user interface (GUI) became available, but users had to perform some additional command line actions when signing transactions.

Bitcoin Core 22.0 is the first release of the popular client with full GUI support for hardware wallets. Users can now easily link the software to devices from Ledger, Trezor, BitBox, KeepKey, and Coldcard.

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It has increased protection, which includes two-factor authentication, the ability to use through proxy servers. Among the disadvantages are the storage of private keys by a third party, the lack of a Russian-speaking interface, which makes it unclaimed among Russian-speaking users, high transaction fees.

Site: https://www.bitgo.com/

BitGo’s solution is built on the strongest technology foundation in the industry, allowing BitGo to provide clients with an integrated digital asset solution that reduces risk and optimizes capital efficiency.

BitGo products are suitable for all types of clients. Customers, from high net worth investors to leveraged traders to institutional clients, demand the highest level of security, technology and compliance. As a regulated, qualified custodian, BitGo can provide the true peace of mind that digital asset fiduciaries require. Providing standards such as CryptoCurrency Security Standard (CCSS) and SOC2, it also works with the most trusted brands in the industry and offers customers the most comprehensive insurance available on the market today.

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It is intuitive and easy to use. It has a good level of protection. Of the disadvantages – the storage of private keys by a third party, support for four cryptocurrencies, a complex process of account verification.

Website: https://www.blockchain.com/

The most popular way to buy, sell, and store crypto. The wallet gives you the benefits of trading and earning rewards, without surrendering control of your money, unlike competitors.
What’s more, by using the Blockchain.com Wallet, you’re supporting the crypto ecosystem by ensuring the Wallet, and the Explorer remain free and openly available to everyone on the planet with internet access, like Coinbase, Crypto.com, and Binance.
The Blockchain Wallet allows you access to everything you could hope for in a crypto wallet. Security, endless features, and a user experience superior to the competition.

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The service of this site is a cryptocurrency wallet Coinbase wallet. The advantage of this wallet is that transactions can be performed outside of the blockchain. Using Coinbase is quite a good option for first-time investors and those who are not afraid to trust a third party. However, given the good reputation of the platform, it is safe to say that the wallet has a good level of security.

Website: https://www.coinbase.com/

Your key to the world of cryptocurrency:

• One-stop storage for all cryptocurrencies and NFTs
• Support for hundreds of thousands of tokens and a wide range of decentralized applications
• Familiarity with decentralized networks through your phone or browser
• Protecting digital assets with industry-leading solutions

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