Everyone is aware that Gambling has many more myths and prejudices associated with it than any other activity. You will be shocked to learn about the amount of misinformation drilled into our perceptive minds. Coupled along with cryptocurrency, it does not seem to improve.
This is mainly because of the correlation between exploitation and gambling. While superstitious people also believe in luck, rational-minded people believe in simple mathematics, and the scope of rumors is therefore quite large. To save you the doubts and trouble, we will debunk some of the biggest myths about crypto-gambling and increase your chance of winning.
What is Crypto Gambling?
As the name suggests, the basis of Crypto Gambling is cryptocurrency. People even consider this method of betting to be safer than other payment methods like Credit Cards, PayPal due to the usage of the blockchain concept. Data once entered becomes immutable, thus ensuring a lesser number of scams.
Some online gambling websites use only cryptocurrencies, whereas some casinos leave an option for the players to choose by themselves. Even though gambling dates back to a long time, blockchain is a relatively newer concept. Therefore the crypto gambling companies are pretty new as well, unlike the older casinos which had seen the traditional method of gambling before cryptocurrency came up.
Though you should be clear about the following myths:
Myth 1: The infamous Lucky Time in crypto gambling
Your odds of hitting the jackpot is the same on every day of the week
Like pubs and bars, casinos also have Happy Hours. People often think that the best way to win the jackpot is to play during the so-called happy hours. Unfortunately, that is the most common myth as there is no such thing as Lucky Time in casinos. It does not matter if you go to a casino on a Monday morning or a Saturday night. The odds of hitting the jackpot are the same on both days.
Myth 2: Yes, unfortunately, there is a jackpot myth.
Cryptocurrencies are as legit as slot machine gambling, even reliable as far as jackpots are concerned
The myth is due to a severe misconception that jackpots cannot be won one after the other. Whereas coming to reality, jackpots can be won if the system is unbiased enough. Some systems have five jackpots one after the other.
Blockchain being the foundation, nobody can affect someone’s jackpot, not even the one who developed it since the code can be seen by anyone along with the time of winning the jackpot, but no one can change it. The winning amount will automatically be paid to you, in any case.
Myth 3: Are my personal details on sale?
Crypto gambling platforms heavily invest in security as your privacy is their topmost priority
There is a widespread rumor that crypto gambling websites are sloppy with your personal data. Let me assure you that this is definitely not the case at all. Crypto gambling platforms massively invest in the security details as your privacy is their topmost concern. Most of the platforms today, are based on the blockchain.
In layman’s terms, you do not have to provide any personal information at all. How about that? From where will the matter of personal data theft arise, if there is no information provided? Operations are mainly carried out through a crypto wallet of your choice. In a nutshell, your chances of being a victim of identity theft are negligible.
Any ideas about Bitcoins?
As regulars of crypto gambling are well aware of, the first cryptocurrency is the Bitcoin. One can find it at most of the casinos. The popularity of the bitcoin has been on the rise since its first introduction.
Now, as you might be wondering about the popularity of bitcoins, it is because there is no limit to transactions once you are using them, unlike traditional currencies.
Along with this, you can remain anonymous, and since this whole business is in the digital platform, all players from anywhere in the world can play. Crypto gambling is the trendiest gambling game of the century. So, go for it!