The Ultimate Guide to NFT Casinos
With the surge in popularity of NFTs in 2021, these technologies have begun to infiltrate many areas, including the online gambling industry. As a result of this revolution, today, gamblers can enjoy playing on safer sites while maintaining maximum anonymity.
In this section, we have covered all the issues regarding what these tokens are and how they are used in modern online NFT casinos in Canada.
Online NFT Casinos Explained
Before understanding how online casinos using NFTs work, first, we need to understand what these tokens are. NFT, short for Non-Fungible Token, is a unique digital creation, such as a video or an image, created based on blockchain technology.
The most accurate analogy of such virtual creations is works of art. They can be copied, but ownership rights can only be transferred by sale and purchase. Blockchain technology, in this case, is the register of these transactions. For example, anyone can purchase a copy of a painting by a famous artist, but there is only one original.
As for online gambling sites, NFT technology is, in most cases, used as an alternative to fiat and digital currencies.
How NFT Casinos Work
Most online casinos using NFT tokens work similarly to traditional online resources. That is, players sign up on the site, log into their accounts, make a deposit and proceed to choose the game. As we have noted, NFTs are commonly used as payment.
Some online operators, in addition to the chance to win tokens, offer NFT players a number of privileges, including a higher percentage of cashback and exclusive bonuses, the amount of which exceeds those offered by regular online operators.
Reasons to Try Playing in NFT Casinos
Despite all the scepticism of supporters of standard gambling sites, it is quite difficult not to notice the obvious advantages of playing in an NFT casino. These include:
- The main advantage of casinos using tokens is confidentiality and a high level of security. However, it should be understood that the use of blockchain technology by a casino site does not guarantee 100% security of the platform itself.
- Most NFT gambling sites carry out any financial transactions in real-time. In addition, the punter can access the register of these transactions at any convenient time.
- Storing tokens gives the player access to unique rewards, such as a higher percentage of cashback and bonus offer amounts.
- A higher level of security characterizes any transactions using blockchain-based tokens and currencies compared to conventional currencies.
- It is difficult for beginners and people not versed in modern technologies to understand how to play in NFT casinos.
- Due to the high cost of Ether, transactions based on NFT tokens can be quite expensive.
How to Play on the NFT Gambling Site
The main difference between playing in an NFT casino and in a traditional one is that the punter needs to acquire tokens before creating an account. This is done similar to buying cryptocurrencies on special exchanges. However, some casinos allow you to play using other payment methods. Further, the process is almost identical to traditional gambling sites.
- Sign up on the site of the selected NFT casino.
- Make your first deposit.
- Choose a game and enjoy the gameplay.
Popular NFT Storage Wallets
When it comes to storage, you should be as careful as possible. At many NFT casino sites, a player can deposit using traditional methods, including Mastercard, Visa, Google and Apple Pay. However, no matter how the punter deposits, sooner or later, they will need to store the NFTs they win somewhere.
Due to the high popularity of these tokens, today, there are many special NFT wallets with a high level of protection. Some of the most popular are:
- Coinbase Wallet;
- Trust Wallet.
Authoritative Gaming Software Makers
Since NFT casinos have just begun to appear on the Canadian gambling market, many may doubt the reliability of the software they use. However, there is nothing to worry about here as these sites run on top-notch software. Below we have described the most popular brands today.
Game Provider: Pragmatic Play
In the games of this brand, simplicity and convenience are in the first place. Even though this is a relatively young provider of casino games, the company has already gained a leading position in the gambling services market.
Supported by: 693 casinos
Game Provider: Play’n GO
Since 2004, this company has released about 70 games with high-quality sound and graphic effects. These games run great on any device, launch quickly, and bring maximum enjoyment to the most demanding gamers.
Supported by: 751 casinos
Game Provider: Hacksaw Gaming
Every experienced gambler will advise you to play slot machines from this provider. The brand offers exclusive games from online slots to scratch cards for every taste.
Supported by: 120 casinos
Game Provider: Push Gaming
This brand was one of the first to focus on mobile casino games, adapting them to any portable device. Since 2010, the studio has been releasing high-quality titles for any players’ preferences.
Supported by: 325 casinos
NFT Casinos Legal Status
NFTs, like all cryptocurrencies and blockchain-based assets, are banned in some countries and are not regulated by law in others. However, transactions with them are allowed under certain conditions. Like a traditional online casino, such sites must meet all the criteria for a safe and fair game and obtain the appropriate license.
Online NFT Sites: Interesting Facts
Fact 1. It is a new type of virtual casino that provides the most secure and transparent gaming experience. NFTs can be used to purchase casino apps and play games.
Fact 2. Punters from all over the world, including Canada, the US and the UK, have access to these casinos.
Fact 3. A number of authorities, such as the Malta Gaming Authority, the UK Gambling Commission, etc, regulates the activities of online NFT casinos.
Fact 4. The number of active NFT gambling sites has already exceeded 25.
Fact 5. The average number of players registered in one casino is more than 5000 users.
Fact 6. All NFT casino sites make transactions of almost 100 million Canadian dollars annually.