History of EOS EOS is a cryptocurrency that launched in June of 2018. Its name is an abbreviation that stands for Electro-Optical System. Unlike many other crypto projects, the EOS.IO system was made with a specific purpose. The open-source platform was created to help developers integrate into the crypto space and build decentralized apps without too much effort. To earn EOS, players need to create blocks. This method is different than other cryptos and gives it better scalability. Many...
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History of EOS

EOS is a cryptocurrency that launched in June of 2018. Its name is an abbreviation that stands for Electro-Optical System. Unlike many other crypto projects, the EOS.IO system was made with a specific purpose. The open-source platform was created to help developers integrate into the crypto space and build decentralized apps without too much effort. To earn EOS, players need to create blocks. This method is different than other cryptos and gives it better scalability. Many consider EOS to be in direct competition with major cryptocurrencies like Ethereum.

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The total supply of EOS coins is around 1.02 billion coins, and most of them are already in circulation right now. While the coin wasn’t intended to serve the online gambling industry, several online casinos and betting sites have tapped into its potential. With this, come some excellent benefits that often supersede the classic perks of using crypto for online gambling purposes!

How Do I Use EOS in Online Casinos?

As we already mentioned, EOS wasn’t created for the online gambling industry, and it shows. Unlike targeted coins, EOS has only recently started making its way into the online casino market. Because of this, it’s far from popular on the scene. Players searching for EOS-friendly casinos might have trouble finding a good fit for their gaming needs. On the bright side, the benefits of using EOS in online casinos are on par with the best of them! If you do find an EOS-friendly venue, you can enjoy more than a few top-notch perks.

The process of using EOS in online casinos is much easier than you might think. Par for the course, the first thing you’ll need to do is get your hands on the currency. You can do this by creating an account with one of the popular crypto exchanges that support EOS and exchanging a fiat currency. If you’re not sure where to start, crypto exchanges like Kraken, BitFInex, and Exmo all support EOS. Next, you’ll need to find the method on the casino banking page and follow the instructions for depositing and withdrawing. It should be pretty easy, but if you run into trouble, you can always contact the casino’s Customer Care team to guide you through the process.

EOS Gambling Restrictions

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When gambling restrictions come into play, EOS is no different than any other cryptocurrency. Laws and regulations surrounding crypto are still a big question worldwide, and most countries have no idea how to address it. The best way to approach the situation is on a country-to-country basis. Since most regions have different laws imposed for crypto gambling, you should do a thorough check on the regulations in the country you’re playing from. It’s also a good idea to get a general sense of the overall gambling laws in the region.

In countries like the USA, for example, online gambling with cryptocurrencies isn’t usually prohibited. US players shouldn't run into issues when using EOS in online casinos. Of course, it’s worth noting that the US is big, so each state has particular regulations that might differ. Crypto gambling might not be explicitly banned, but some acts, like the Unlawful Internet Gambling Enforcement Act, may apply in certain situations.

Things in the UK are a bit different. The country is known for its excellent online gambling regulation, and crypto gambling isn’t out of its sights. For crypto gambling, the country has a specific set of rules. Luckily, most apply to the casinos and not the players. One example is the need to disclose fund sources when applying for a license. Casinos that don’t meet this requirement will be denied licensing without hesitation.

One thing we can safely say about crypto is it always finds a way to get where it needs to be. South Korea is the perfect representation of this sentiment. While cryptocurrencies are prohibited in the country, people still skirt around this and buy them from crypto exchanges! Of course, some countries go in the opposite direction of South Korea. El Salvador, for example, made Bitcoin legal tender in 2021!

The Benefits of Using Crypto for Online Gambling

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Cryptocurrencies have been around for over a decade now, giving people more than enough time to familiarize themselves with these modern coins. Thanks to this, you should have some idea of what you can expect from using EOS at online casinos. The coin offers all of the benefits of using cryptocurrency when transacting, but it also takes the cons along on the ride!

The first pros we’ll start with are an integral part of the crypto experience. Of course, we’re talking about transparency and anonymity! These two are an inevitable result of the blockchain technology crypto is built on, and they’re arguably two of the best perks that come from using crypto for online gambling purposes! Since all crypto transactions are registered on the public blockchain ledger, you have a chance to view them at any time. This can help you avoid shady deals that might seem off in the long run. You also have the anonymity of crypto to help you protect your info. At the end of the day, all you need for a crypto transaction is just the number of your crypto wallet!

Anonymity and transparency might be the most talked-about perks of using cryptocurrencies for online gambling, but things don’t end there. A pro all casino fans can appreciate is the quick processing times that come with crypto payments. In most cases, deposits and withdrawals are instant! Coupled with the convenience of using crypto, there’s no better option for casino gaming. Currencies like EOS are fully digital, so all you need to get to business is as little as smartphone and stable internet!

We’ve already mentioned this, but the EOS coin wasn’t made specifically for online gambling like many other cryptocurrencies. While it’s easy to assume that this holds it back in the online casino field, that’s not the case! EOS has a few top-tier exclusive perks in the few online casinos it’s available. These include all kinds of fun bonuses, such as Free Spins and Deposit Matches!

It’s safe to say that we’ve covered most of the perks EOS brings to the table. Now, it’s time to go over some of its cons. One of the biggest issues with crypto, especially for newbies, is its complexity. While it might seem like an easy concept to grasp, the world of cryptocurrency can be pretty complicated. To start using crypto, you need to invest time and effort into learning how it operates, which are commodities not everyone has.

On top of all the work needed to get familiar with the crypto scene, newbies might run into the rampant scams it sometimes fosters. Since these users are just starting their crypto journey, they’re much more susceptible to these horrible practices. To avoid this, we recommend familiarizing yourself with the basics of crypto before even considering buying any.

To finish the list of pros and cons cryptocurrencies have, we’ve saved the best for last. Of course, we’re talking about crypto’s volatility. Most cryptocurrencies are highly volatile which can be a blessing and a curse. On the one hand, it can be insanely rewarding to users that invest in it at the right time. On the other hand, it can mean big losses if things go south. If you’re planning on diving into the crypto world, be sure to do your due diligence on the subject.

Are There Games I Can’t Play With Crypto?

Cryptocurrencies like EOS might offer tons of benefits, but they’re also limited in some regards. One thing that might put some players off is the lack of crypto support from different game providers. Many iGaming software developers don’t accept crypto payments. Because of this, players are likely to miss out on tons of popular titles. On the bright side, there are just as many providers that welcome crypto with open arms! Thanks to their hard work and dedication to providing high-quality games, you can enjoy a host of fun titles!

Among the many software providers that accept crypto, you’ll find industry-leading companies and some smaller game studios. These include the likes of iSoftBet, Mr Slotty, BetSoft, Habanero, BGaming, Vivo Gaming, and many others! If you’re wondering what games you can run into, the lineup is an exciting collection of varied titles! Some of them are Fire Bird, Riot, Irish Treasures, Diamond Vapor, and more!

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