It is highly unlike that Charles Fey, the man who invented the Liberty Bell slot machine – the very first of its kind – back in 1895, could ever have foreseen quite how popular these games would become and just how advanced they have grown to be. Comparing today’s slots, including of course online versions and pay by mobile casino made possible, to the Liberty Bell is almost like comparing chalk and cheese. There are some similarities, and the essence of the game is still there, but the way it is played, the prizes, even the look of the thing is now entirely different.
Most players actually do play via the internet. It saves them having to go out to a physical place such as a land based casino or a bar, and it means they can play whenever they want to for as long or as short a time as they want to.
It makes sense, then, if so many people are playing online slots that the next big change in the slot industry would take the form of something that can only be done online. That is, payment for slot games could be done using cryptocurrency as a matter of course sooner rather than later.
What Is Cryptocurrency?
Everyone will have heard of the rise of bitcoin and the multi-millionaires (even billionaires) that it made and is possibly still making. Bitcoin is a form of cryptocurrency, but although it is the most popular one, there are plenty of others as well. At the moment, Paypal is still dominating in terms of ‘virtual’ payment options, but cryptocurrency is starting to become more widely used, and is therefore expected to surpass Paypal in terms of popularity within the next few years.
Cryptocurrency has no physical form, and relies on complicated computer coding to be passed from person to person. What people like about it is not only the ease of use (the coding might be complicated but that isn’t something that users have to think about) but also the fact that it is not controlled by any government; it is a universal currency that needs no exchange rate value to be set when using it.
The reason it is not used as much as it could be right now is down to nervousness on the part of consumers. Since it is a virtual currency, what would happen to the money if the internet went down, for example? Who controls it? Is it safe? These are all valid questions, but questions that have answers when you start digging. Once these answers are common knowledge, cryptocurrency will be common too.
Using Cryptocurrency at Online Casinos
Although it might sound like a futuristic idea, it is possible to use online casinos and pay for your games using cryptocurrencies such as bitcoin right now. Not all casinos offer this option, but there are some that do and more and more are deciding that this is the right route for them to go down.
It seems that cryptocurrency really is the future of the online casino. It really is the future of every online transaction.