The current boom in cryptocurrencies and online casinos is transforming the gambling world by providing players with a transparent, seamless, and enhanced gaming experience. The introduction of native coins is fast changing how the gaming world operates by introducing ways that players can make a passive income while enjoying their favorite slot game.
Today, players don’t have to deposit tokens from other external wallets but just go to their favorite casino and purchase the casino’s native coin. Most casinos, like Shuffle, Rolllbit, and BC Game, among others, have already launched their own native tokens. Crypto casino tokens’ popularity is massively increasing, and it is essential to understand how these tokens work and their benefits.
Understanding Crypto Casino Tokens and Why Crypto Casinos Create Them
Crypto casino tokens are digital assets that work on another existing blockchain network. These tokens are designed to be used on a particular gambling platform, such as an online casino. The tokens work precisely like Bitcoin, so a player can use them as a medium of exchange.
There are only two ways to acquire native tokens. You can earn them by playing and participating in certain games or activities, like the lottery, in an online casino or buy them just like other cryptocurrencies in an exchange.
Most crypto casinos are creating these tokens to enhance the gaming experience. This is done by offering players low-cost and fast transactions when making deposits or withdrawing funds from the casino. Additionally, some players want to enjoy gambling activities in casinos while remaining anonymous. Thus, the native tokens allow players to maintain anonymity as they need less personal information.
Benefits of Native Coins for Crypto Casinos
Gambling using native tokens has several benefits, unlike cryptocurrencies and traditional fiats. These coins are transforming the gambling industry by offering unique benefits to players and operators, enhancing the overall gaming experience. By offering these benefits to players, casino operators are able to draw more customers to their websites.
Some benefits of native coins for crypto casinos include;
- Fast Transaction: Using native coins guarantees fast transactions. Blockchain is a known payment method that provides fast transactions, but when using native coins, they offer faster transactions. However, the speed of the coin depends on the blockchain technology it is built on.
- Safety and Anonymity: If you want to gamble on online casinos without sharing your personal information, you need to use these native coins. The coins are centralized, offering enhanced security and transparency because every transaction is permanently recorded in a chain. Using cryptocurrency wallets, they leverage private keys and advanced encryption techniques to secure funds, making it hard for hackers to access the funds.
- Innovative Features: Due to smart contracts in blockchain, native coins offer users enticing and unique features such as decentralized governance and automated rewards. This allows players to hold a certain coin and contribute to governance on the platform.
- Lower Transaction Fees: Cryptocurrencies have lower transaction fees, whether depositing or withdrawing. Native coins are developed for a certain casino only, which results in very low transaction costs. These coins are ideal for players who want to increase their winnings without losing transaction fees.
- Bonuses and Rewards: One of the best ways of attracting more customers to your crypto casino is by offering enticing bonuses to new players, such as a welcome bonus or deposit bonuses. Most casinos with native coins offer new players a certain number of rewards once they join the casino and use their native coin to make transactions. Additionally, players can also make passive income by staking with native coins. Once a new coin is released, there is a free distribution for active users or early adopters.
Examples of Established Crypto Casino Tokens
With the increase in crypto casinos, most of these casinos have developed their gambling tokens. The coins are typically how these online casinos offer rewards to their loyal players and allow them to participate in the Web3 ecosystem. The tokens can be sold or bought on decentralized exchanges, thus earning some passive income within the casino.
Here are some top examples of established crypto casino tokens;
Shuffle (SHFL)
Shuffle or SHFL token is a native coin for Shuffle Casino. This crypto casino launched its own coin to help enhance platform growth and user engagement. The tokens perform different functions in the Shuffle ecosystem. Currently, the price of this token is $0.0023 per SHFL.
Since its launch, the Shuffle token has allowed players to gamble on various games in the Shuffle casino, including casino games, slot games, and sports betting. The SHFL token holders have VIP experiences, first priority on new features on the platform, and bonuses, ensuring they offer token retention and incentivizing platform engagement.
Rollbit (RLB)
The Rollbit token was launched to work as part of the Rollbit lottery. Existing users of Rollibt casino and traders received the RLB token for free. The lottery increases the demand for the RLB token, which works as an entry ticket for the lottery and a chance to win 20% of casino profits and share them with the participants.
Like any other token, RLB is built on blockchain, thus ensuring secure and transparent transactions in the Rollbit ecosystem. RLB is a Rollbit native token, offering utility for different activities. Currently, RLB has capped its token supply at 5 billion coins.
BC Game ($BC)
Another example of established crypto casino tokens is BC Game, $BC. The token was designed to offer players a unique value for casino users and token holders via practical and incentive features. The current price for BC Game token is $0.0065 per $BC.
Being a native coin, $BC can only be used on the BC Game casino platform. The casino offers a wide range of game selections, including slots, sports, live games, table games, roulette, poker, and blackjack.
Conclusions
The popularity of cryptocurrencies has introduced new tokes that make the gaming experience exceptional. These tokens offer fast transactions, low transaction costs, innovative features, enticing bonuses and rewards, and safety and anonymity for players when gambling. However, these tokens, like other tokens, have pros and cons. As most casinos launch their own tokens, players should be on the lookout to receive rewards after the release and earn a passive income by staking these crypto casino tokens like the $BC, RLB, and SHFL.
