The History of TRON
TRON was established in 2014 by founder Justin Sun. It’s an operating system based on the blockchain, and it runs several functionalities that distinguish it in the wider crypto market. These include smart contract functionality, proof-of-stake, consensus algorithm, and a native cryptocurrency. TRON has been under the care of the TRON foundation since 2017. Not a year after this non-profit organization took over, the Ethereum-based ERC-20 token shifted to a different protocol and blockchain with a unique signature.
TRON has seen great success over the years. Through initial coin offering, it managed to raise around $70 million. It later acquired BitTorrent, a popular file-sharing service that’s well-known in the world of internet piracy. As a result of this, the crypto declared independence and created a personal Genesis block. The coin’s market cap reached around 1.6 billion by 2019, a number rivaled by a few cryptocurrencies. Despite this, some people are still a bit wary of TRON. Mainly, this is because of some security issues seen in the past and accusations of plagiarism.
How Can I Use TRON in Online Casinos?
Unlike some cryptocurrencies currently on the market, TRON wasn’t created with online gambling in mind. Naturally, this doesn’t mean that the two don’t mix. This cryptocurrency is an excellent tool to use in the world of online gambling. Since it boasts the same pros as most other coins, it can be a far superior banking option to most! TRON’s popularity is still in the process of growing in the online casino scene, but the coin’s established itself as a great option in several top venues. Up next, we’ll tell you how to start using it for online gambling.
To get started, you’ll first need to become a TRON holder. This part of the process is pretty simple. All you have to do is visit one of the crypto exchanges that support the currency and obtain some. TRON is currently supported on over 130 exchanges, but we recommend going for tried-and-true options like Binance and TRX! Once you visit one of these options, you can trade in the desired amount in fiat currencies for some TRON coins.
Now that you have a few coins in your crypto wallet, you can head on over to an online casino of your choice and start using them. To do this, head to the cashier tab of the website or app and look for the TRON option. Once you click on it, you should be given a list of instructions about how to deposit or withdraw. Follow them step-by-step, and you should be done in no time! This part of the process usually goes without a hitch, but if you do run into an issue, the casino’s Customer Support Team can be a helpful resource.
Is TRON Online Gambling Legal?
The legality of cryptocurrencies like TRON is still a big mystery for most. The reason for this usually isn’t the crypto itself, but the region you want to use it in! Cryptocurrencies are still heatedly debated across the globe. It’s hard to come to a consensus on such a polarizing topic, which is why the regulations surrounding crypto and crypto gambling vary wildly from country to country! Since there are too many differences in crypto laws between different regions, it’s best to look at them on a country-to-country basis.
Powerhouses like the US don’t seem to have too many qualms with crypto. Crypto gambling isn’t prohibited in the country, but you might want to examine things a bit closer before you rush into things. The US consists of multiple states with varying laws and regulations. They might not be too different when crypto gambling is involved, but the subtle changes can be detrimental! To be on the safe side, you should check how things operate in the state you reside in.
The UK has a pretty big gambling market, and they’ve welcome cryptocurrency in this domain without too much pushback. Of course, the UK also has excellent online gambling regulations, and when crypto gambling comes into play, they get a bit stricter. To keep players safe, the licensing process requires a few extra steps for crypto-friendly venues. While they might not be too harsh, operators that fail to comply with them will be denied a license.
While the UK and the US are somewhere near the middle of the crypto-friendly spectrum, we think it’s a good idea to give you examples that go to the extremes! On the positive side, there’s El Salvador. The country is a crypto haven, showing support for cryptocurrencies from very early on! Recently, it even made Bitcoin legal tender! On the negative end, there’s South Korea. In South Korea, crypto and crypto gambling is banned. Despite these harsh regulations, some people in the area still visit crypto exchanges!
What Pros and Cons Does TRON Have for Online Gambling?
For the most part, TRON offers similar advantages to other popular cryptocurrencies. Many of them apply to online gambling, so players can rest assured that they’re getting something extra when using the coin in online casinos. To top it off, the cryptocurrency can also lead to some VIP perks in select venues!
A perk that most players can get behind is the anonymity attached to using crypto. Since all transactions are processed through a crypto wallet, there’s no need for players to register personal information when banking online. Out of context, this might not make sense to most people, but knowing the scams and shady deals surrounding the online gambling space, this grants stronger player protection! Many online scams tend to relate to identity theft and extortion. With no information to go on, these heinous activities are practically impossible to pull off.
Another perk that strengthens player protection is the transparency of using cryptocurrencies like TRON. Like with most crypto, TRON transactions are registered on a public blockchain ledger. Through the information available there, you can check up on the venues you want to visit and see if they’re fair with payments. Sure, it might require some extra effort on your part, but it's well worth the trouble and could save you a world of hurt down the line.
The perks of using crypto don’t end with player protection. Some are there to enhance user experience, and these are usually players’ favorites! One of these perks is processing speeds. In the online casino world, waiting for payouts is no novelty. It usually takes a few days to process transactions made with traditional payment methods, which can be a big downer if you’re in a hurry to use your winnings. With crypto, this becomes a non-issue. Crypto deposits and withdrawals are nearly instant! In the most extreme cases, it can take up to 24 hours for the transaction to clear.
The user-friendliness of crypto also appears when convenience comes into play. As you probably know, crypto is fully online! You can transact with TRON and other cryptocurrencies through a PC or smartphone anytime, anywhere. What’s better, most crypto platforms are insanely easy to use! Navigating them is intuitive and pretty much anyone can learn their way around in no time.
We mentioned that using TRON comes with special perks in select venues, and that’s true. If you happen to find one of these online casinos, you’re in for a treat! To incentivize TRON players, these casinos offer exclusive bonuses to boost gameplay. These can come in the form of Deposit Matches, Free Spins, Cashback, and more!
Cryptocurrencies might offer tons of perks, but they’re not perfect. Using crypto can also come with some big cons, and the rampant scams in the crypto world are one of them. Much like the online casino space, the crypto world isn’t immune to scams and bad practices. These tend to target newbies and aim to either steal the crypto you own or take advantage of any personal information you end up sharing.
Another con to using cryptocurrencies is the time needed to learn how they operate. Crypto might seem easy from the outside looking in, but it can be insanely complex. To enter the crypto scene, you’ll have to put in hard work and get a solid grasp of how to take advantage of this new tech! The good news is, doing this can also help combat the previous con we talked about! If you’re well-acquainted with the crypto basics, you should be able to spot scams easily.
The last thing to go over when talking about the pros and cons of crypto is volatility. Most cryptocurrencies are highly volatile. Essentially, their prices fluctuate wildly, leading to high highs and low lows. Crypto’s volatility can be a blessing and a curse. If you’re lucky and employ good trading strategies, you might end up with massive returns on your investment! Of course, you could also end up losing just as much! There’s an inherent risk to crypto, so be aware of it before you even think of starting a crypto-related venture.
Do All Online Casino Games Support Crypto?
While the crypto world and online casino world have excellent synergy, they’re not always in sync. Many casino software developers don’t trust crypto enough to work with it, which is why not all casino games are accessible through crypto. Thankfully, it’s not all bad news. Tons of high-end game development studios are crypto-friendly. With their casino software within reach, you should have no trouble finding fun games to play!
In the line-up of software providers that offer cryptocurrency support, you’ll find industry giants like Vivo Gaming, Mr Slotty, IGTech, BetSoft, iSoftBet, Endorphina, Yggdrasil, Wazdan, and many more! These companies have excellent titles on deck, including popular games like Guardians of Valhalla, Robin of Loxley, Mermaid Gold, and Riot.
