The word “crypto” has recently been tossed around so much, financial news is starting to sound like a broken record. Naturally, the craze has caught the interest of the online casino industry. In fact, many gaming sites have already jumped on board and started accepting digital forms of currency for payment. However, one site is taking the trend a step further and creating their own initial coin offering.
The online casino ZeroEdge plans to raise interest from players around the world by offering a new cryptocurrency that is designed specifically for internet gambling. If all goes according to plan, the casino would officially release a digital token known as ZeroCoin. Instead of relying on old forms of payment, players would now be to instantly use ZeroCoin to accommodate transactions through any online casino that supports the currency.
Traditional forms of payment at online casinos include credit cards and debit cards, as well as the transfer of funds from online wallets. Players have grown frustrated with the reported processing times of withdrawals from online casinos, which may take weeks to complete. The newer form of currency aims to make transactions faster for the players who have grown impatient. Additionally, crypto would allow for more control over transfer fees and any other associated costs on the player’s end.
ZeroEdge is betting on the demand for its signature currency to rise because of its unique format. The ZeroEdge online casino will reportedly include open-source software. This system will allow players to use their ZeroCoin wallets to assist in creating new online casino games. The platform is ideal for up-and-coming gaming developers who would are trying to gain some exposure in the industry.
The perceived popularity of using cryptocurrency at online casinos is likely due to parallels between the two. Many financial experts state that investing in digital currency is a form of gambling in itself. The risk involved is related to the unprecedented amount of volatility seen in cryptocurrency exchanges. Players who are drawn to high-risk casino games would likely find a similar appeal in blockchain investments.
The plan proposed by ZeroEdge online casino is a glimpse at a new era of gaming, but it is not the first of its kind. During the summer of 2018, an Ethereum-based poker website is scheduled to launch and provide a secured gaming destination for players who prefer digital currency. Called Virtue Poker, the site will provide the card game to players and exclusively process deposits and withdrawals with cryptocurrency. Many other casinos have already begun to accept these new forms of payment, which include the well-known Bitcoin and less popular Litecoin.