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The dawn of the internet age gave way to many technological advancements that made the world smaller and more tightly knit. From social media to online payment solutions, life became easier and more enjoyable. One of the latest innovations of the 21st century that is taking every business sector by storm is cryptocurrency.
Online casinos are one of the first few industries that jumped into the crypto bandwagon. Many of these sites have integrated the technology into their payment options and even games. Here at Slots Bonuses, you can learn more about crypto and even try your luck in unique games such as crypto slots.
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Crypto slots 101: What is cryptocurrency?
Cryptocurrency slots are made possible by the blockchain technology that is a decentralized ledger of all transactions across a peer-to-peer network. To understand the concept of blockchain further, let’s dive deeper into the world of crypto.
Dating back to as early as the 1980s, cryptocurrencies are made up of cryptographic protocols or compound code systems that encrypt and secure the exchange of sensitive data. It came from a ‘blinding’ algorithm developed by American cryptographer David Chaum.
The algorithm became the basis of web-based encryption, especially modern electronic currency exchange. In 2008, Bitcoin became the first modern crypto coin that was made by an unknown developer with a pseudonym called Satoshi Nakamoto.
By 2013, Bitcoin made it on the news when its unsuspecting users became instant millionaires from the sudden surge of BTC value. This marked the beginning of the crypto craze wherein more virtual tokens and altcoins broke out in the fiscal market.
Today, crypto tokens and altcoins are mostly used as a mode of online payment for any goods and services. Many crypto miners and users are also opting to invest in them in hopes of making money from their market value.
Crypto is a decentralized tech that serves as the master ledger across multiple computers. It hides the identities of crypto users who also dictate the supply and value of the virtual coins since there is no central influence.
How does crypto work?
All of the uses of cryptocurrencies are made possible by the network of computers called the blockchain. As the name alludes, the blockchain links together the first transaction made with the crypto up to the most recent one. All crypto transactions are permanently added to prevent double-spending or the exploit of its code.
To access your cryptocurrencies, you will need the use of public and private keys. A public key is the crypto code that enables you to transfer a token or altcoin from one account to another. It is also used to confirm the digital signature of the crypto and prove ownership of the private key.
On the other hand, the private key is composed of numbers between 1 and 78 digits long. It facilitates the verification of a holder’s ID so a user can make transactions with other people. The private key is extremely important to access your virtual assets so if you lose it, you will also lose your crypto holdings forever.
Be that as it may, crypto mining allows users to find new coins that can be added into the current supply. A miner collects, verifies, and sorts data into blocks for public records. This usually involves solving a complex math problem using a high-powered computer. Once they solve a code, miners are rewarded with a certain amount of BTC as a block reward.
For most first-time crypto traders, the most popular and easiest way to get started with crypto is buying it on an exchange site. Some of the leading crypto exchanges where you can buy and sell crypto for other assets such as fiat or vice versa are as follows:
- Coinbase – It is the biggest Bitcoin broker in the market, making it the best and safest platform for crypto beginners. It boasts high liquidity and buying limits that allow the purchase of other crypto coins such as Ethereum and Litecoin.
- Binance – It features a wide range of crypto tokens and altcoins you can trade at the lowest fees. More than 40 fiat currencies are also accepted in trading for digital assets.
- Bisq – It is one of the most trusted crypto exchanges in the market because of its decentralized nature and highly secure features. It supports peer-to-peer trade whether it’s in crypto or fiat-crypto trades.
- Gemini – It is the first-ever licensed ETH exchange but it can also support other token trades such as Bitcoin and XRP, as well as fiat money sometimes.
Some online crypto wallets also allow you to buy and sell a range of virtual coins, as well as send these assets to an exchange site for trade. Aside from online wallets, there are other types of crypto wallets you can use to store your digital asset. Here are some of the types of crypto wallets you can choose from:
- Hardware wallet – It is also known as cold storage because the digital asset is stored offline. This kind of crypto wallet appears like a USB flash drive with built-in advanced security measures so no one can access it except you.
- Software wallet – It is also called hot storage because you can access your wallet on the internet. It allows you to download and use crypto storage for free.
- Mobile phone wallet – It is app-based storage for your digital asset. It can be downloaded from the Android and iOS app store.
- Web wallet – It is a short-term platform where you can move your digital assets to. It can be easily accessed on the web.
- Paper wallet – It is another offline method of storing your digital assets by printing the QR codes of your public and/or private keys. It is considered to be the safest storage method, especially for long-term investors.
Different kinds of cryptocurrencies
The world of cryptocurrencies continues to thrive and grow at an aggressive speed due to the possibilities they promise. Today, there are more than 6,700 different crypto tokens and altcoins you can get. Check out some of the top crypto coins that you can publicly trade and/or invest in:
Bitcoin is the most widely used crypto token that put the crypto movement on the move to mainstream finance. It is considered as the number one cryptocurrency you can get with a supply limit of about 20 million units.
It can be used just like fiat money to pay for products and services online or even in some physical stores. You can get Bitcoin by buying from an exchange platform, BTC brokers, marketplaces and Bitcoin ATM.
Litecoin falls seconds to Bitcoin for being the most popular crypto in the market. It has a supply limit of 84 million units. It is an extremely fast, secured, and budget-friendly crypto coin that is perfect for online gamblers, especially those in countries where gambling is restricted.
This digital asset is comparatively more responsive and economical than Bitcoin and Ethereum because it produces more blocks. You can buy Litecoin using USD, EUR, CNY, GBP, and many other currencies.
Ripple provides convenience and accessibility because it is one of the most easily convertible crypto coins in the market. It also boasts a fast transaction confirmation which is only under 5 seconds and blockchain creation times.
It is the third-largest crypto coin based on the market capitalization. The price of Ripple is also less volatile than most tokens and altcoins so you do not need to worry about any dramatic fluctuations.
Ethereum is a digital asset that boasts high security, fast transactions, and authenticity as a mode of payment. It runs on smart contracts that are meant for peer-to-peer trading. Its supply is not capped. Instead, it is determined by the members of the Ethereum community.
Moreover, it permits developers to build and deploy Decentralized Apps (DApps) and Decentralized Autonomous Organizations (DAO). This means that users can make agreements with each other, as well as directly buy, sell, and trade without a third party.
Why play crypto slots at Slots Bonuses?
Video slot games are an effortless and instant source of entertainment. You can play online slot games anytime and anywhere you want so you can rack up substantial amounts of prizes. With cryptocurrency slots, you can take your slots gaming experience to the next level here at Slots Bonuses!
By opting to play crypto slots, you can enjoy the exclusive benefit of the Provably Fair mark. This makes it possible for you to verify the result of every spin you made in the crypto game by attaching and encoding a specific number to it.
Moreover, there are no transaction limits for crypto slots. Your security is also guaranteed here since blockchain-based currencies are entirely anonymous. Crypto transactions are also fast and almost instantaneous compared to bank transfers that can take up to 5 business days.
The top cryptocurrency slots you can play at Slots Bonuses
There is a wide range of crypto slots that you can play and enjoy at Slots Bonuses. Similar to normal slot games, you can explore different realms and fantasies in every crypto slot you play. Are you ready for an adventure like no other?
Grab a preferred device such as your desktop, tablet or mobile phone to play now! Check out some of the hottest and latest cryptocurrency slots you can choose from here at Slots Bonuses:
At the Copa
Enjoy a day in a romantic getaway when you play Betsoft Gaming’s crypto slot At the Copa. It draws inspiration from a Latino dance show that is all about glitz and glamour. Go to the bar of winning so you can be served with massive payouts of up to 7,500 credits per spin.
Meet the groovy gentleman and dance the night away with the flamenco dancer. You will be swayed to great wins in this 5-reel, 30-payline cryptocurrency slot. Betsoft Gaming did not skimp on the vibrant visuals and exciting features in this crypto slot.
Betsoft Gaming’s crypto slots also include the thrilling Heist that features 5 reels and 30 ways to win. Work with the great Detective Kowalski to solve the case of good luck and fortune in every spin of the reels.
Catch the rogue crook by the alias of Neil for a chance to be paid out with big bucks. It also boasts immersive visuals for its exciting game features you can trigger every game round.
One of the engaging crypto slots of Betsoft Gaming is The Slotfather that can reward you with substantial amounts of riches. Be a member of a powerful Sicilian Mafia family and rule the streets with good luck and fortune.
Offer a wager lady luck can’t refuse when you take all 5 reels for a spin. There are 30 active paylines where you can land winning combinations. Get a chance to trigger bonus features and massive payouts in every spin!
Game of Thrones
Microgaming’s crypto slot Game of Thrones is inspired by the immensely popular book series turned TV show. Choose and join whichever house you want to be a part of. Meet the Lannisters, Barratheons, Starks, and the Targaryens in every spin of the reels.
Savour the addicting taste of power and fortune in this crypto slot game. There are great wins you can seize as you explore the lucky lands of Westeros in search of the Iron Throne Scatter symbol.
Choose your crypto slots adventure now!
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