10 Crypto Facts That Will Enrich Your Casino Experience
Lately, it seems like every kind of media we consume is all abuzz with news and articles about cryptocurrency. Maybe you are one of the crypto chatterboxes singing the praises of the future’s currency, or perhaps you’ve just dipped your toe in the waters, still wading in the shallow end of Bitcoin and NFTs.
Well, if you are new to it, you’ll want to catch up on the basics with our Bitcoin Casino FAQ, which includes how to deposit with Bitcoin, crypto casino bonuses, and more. Then, you’re ready to go from crypto curious to a complete crypto aficionado with these 10 crypto facts, brought to you by SlotsLV, a best crypto casino.
So, let’s power up the blockchain, collect our non-fungible tokens, and get ready to count our digital coins, because we’re about to share some cool crypto trivia that you can use to take your casino experience up a notch. Are you ready?
Fact #1: Most players deposit with crypto
You may think most players at SlotsLV are depositing with credit cards, but that couldn’t be farther from the truth!
In reality, most of the players at SlotsLV make their deposits through crypto gambling methods like Bitcoin, given the many benefits of depositing with crypto. For starters, cryptocurrency transactions are significantly faster than those on credit cards. Since there’s no middle man to intercept the funds, either, there are no gray-suited big-wigs meddling in your business before you can play!
Once you are familiar with the process, you, too, can join the ranks of crypto casino depositors that moved past the credit card roadblocks and joined the crypto revolution.
Fact #2: Crypto is the fastest way to get your paydays
Speaking of speed, depositing with crypto is one thing, but withdrawing your balance through crypto is another entirely.
If you’ve ever withdrawn your prize money through a check, then you know first-hand how slow it is. By the time your check arrives in the mail, the confetti has already settled on your party and has been swept up with the dust. It’s like having a birthday and having to wait to eat the cake…madness!
You can understand, then, why players are pleasantly surprised to learn that when you fund your account using crypto and later make a crypto gaming withdrawal, you can get your prize money within hours. That saves plenty of time for inviting your best buddies over for a celebratory cocktail hour. At least you know your money will arrive soon enough to supply the mixers!
Fact #3: Crypto prices fluctuate
It’s true, they do.
If you’ve spent a week, or even just a day watching a cryptocurrency like Bitcoin, you would see that its value bounces up and down like a basketball shot from half-court. At first glance, the fluctuations might make you worry that the coin is unstable, but in reality, the overall value of Bitcoin has gone nowhere but up, up and up, particularly since 2020. That’s despite the lows/highs of day-to-day trading, or even month-to-month fluctuations.
If the short term seesaw nature of crypto still makes you nervous, you could always use Tether (offered at SlotsLV crypto casino), which is linked to the familiar USD. Accordingly, it doesn’t have a price flux to cause concern.
Fact #4: The first-ever Bitcoin transaction was on pizza
Two large pepperoni pizzas, please, extra cheese!
Maybe that’s the type of pizza a crypto user ordered on May 22 in 2010 – the first-known purchase with Bitcoin. On that fateful day 12 years ago, Laszlo Hanyecz paid 10,000 BTC in a real-world transaction for two pizzas in Jacksonville, Florida; the equivalent of around $40-$50. That may sound like an expensive pie, but it’s nothing in comparison to what it would be now.
If you spent 10,000 BTC on a pizza in May of 2022, you’d have spent $300 million. In only 12 years, the value of Bitcoin mega-holy-moly-super-dupled in value! There probably isn’t even a word for that much multiplication!
Hope Laszlo enjoyed his pizzas.
Fact #5: Bitcoin is the legal currency of El Salvador
In September of 2021, El Salvador became the first country in the world to recognize Bitcoin as legal tender. That means instead of using Bitcoin only in transactions through the web like at an online crypto casino, in El Salvador, you can use your Bitcoin to buy a coffee, go to the movies, or even pay your taxes.
Let your buddies know about SlotsLV, a best Bitcoin casino, and you could be collecting a casino referral bonus!
Fact #6: There are approximately 10,363 cryptocurrencies in existence
Actually, there are more like 18,465(!) as of May 2022, but a big chunk of those are “dead” currencies, meaning they’re not actually active or valuable.
Even out of the 10,000+ that are active, you won’t encounter most of them on a regular basis. The top 20 coins like Bitcoin, Ethereum, and Tether make up around 87% of the entire crypto market, and those are the ones the best crypto casinos use.
Fact #7: Dogecoin started as a joke
Dogecoin is a cryptocurrency that started in 2013, and it’s one of the top ten most valuable cryptocurrencies on the market, worth about $11 billion in 2022. Seems all fair and normal, right?
Sure, until you discover that the whole coin started off as a joke! Dogecoin was founded by two engineers who were poking fun at Bitcoin, and it was meant for nothing more than a few good laughs.
The face on the coin is from a meme featuring a Shiba Inu dog, pulling an adorable grin and surrounded by his silly internal thoughts laid out in the comic sans font. People of influence like Elon Musk, Snoop Dogg, and Mark Cuban have promoted the coin and driven up its value ever since! Sign of the times, right?
Fact #8: We don’t know who created Bitcoin
Do you have your detective’s monocle ready? Because we’ve got a fun, unsolved mystery for you.
Despite the mega crypto giant the coin is today, no one actually knows where Bitcoin came from! Sure, we know a character named Satoshi Nakamoto released the first wallet program called Bitcoin in 2009, but no one really knows exactly who this Satoshi Nakamoto is.
Magazines and news publications have been trying for years to peg down the mysterious creator of the world’s largest crypto, but every lead has spiraled into a dead end. After all, the whole point of Bitcoin is that it’s not owned or controlled by anyone, so perhaps that’s why this person (or persons?) chose not to claim it as their own.
Who knows if we’ll ever find out!
Fact #9: Meme NFTs can make you rich
Dogecoin isn’t the only meme-based digital asset that’s floating around on the web. NFTs, or non-fungible tokens, have given enough value to the primary art form of Millennials to make a Gen-Xer’s head explode.
Famous memes like Bad Luck Brian – a geeky kid with braces showing off an awkward smile in a standard school photo – are selling for anywhere between $30,000 and $4 million, and gaining value fast.
Can you guess which meme has sold at the highest price to date? Yep, the Doge meme of Dogecoin sold for $4 million! This is no place for financial advice, though, and you won’t find get-rich-quick schemes here! The mighty jackpot owns that domain. For now, you just might be better off sticking to your stamp collection.
Fact #10: The Metaverse is based on a sci-fi novel
In case you haven’t heard already, the metaverse is a new 3D and interactive internet that’s being developed by a handful of major tech companies like Meta (formerly Facebook), Microsoft, Apple and Google.
While the metaverse itself might only now be conceivable to us in 2022, the idea was already coined in the sci-fi novel called Snow Crash, written by Neal Stephenson in 1992.
For the world of online casino slots, this might mean that, instead of merely observing your favorite characters gallivanting across the reels, you could physically interact with the best bitcoin slots in real-time and “real” life inside a three-dimensional universe you can physically experience. Neat, huh?!
Are you feeling a bit more crypto-savvy now? Don’t forget about all the magic of Bitcoin bonuses to boost up your bankroll and make playing with crypto even more profitable than it already is. Once you’ve got that covered, it’s off to the future!
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