Seeing how good 2021 was to cryptocurrencies, everyone is even more excited for 2022. Are we going to see new all-time highs for all tokens? Or are new tokens going to surpass the current leaders? If so, which are the cryptos that fall within that list. Well, one of the most promising tokens we see on the market is EOS. It is currently ranked within the top 50 cryptocurrencies by market cap.
Many are now owners of the cryptocurrency, and many are interested in owning it. This calls for a quick response from crypto casino owners for obvious reasons. Players want to see the cryptocurrencies they own available as payment methods. This leaves little to no choice for most owners and “forces” them to take action.
Mostly, this is a great benefit for the players because due to the demand, they see direct supply. However, for those who own EOS or are willing to purchase EOS, many questions arise. But in particular, the leading one is “What is EOS and what are its benefits for crypto casino use?”
This and more, we will discuss in the following sub-sections. But before everything else, let’s get familiar with EOS, its history, and how it works.
EOS is a platform with the main purpose to enable developers to build decentralized apps (dApps). EOS is both the name of the platform and the name of the cryptocurrency. The blockchain’s been around since 2018. Aside from that, it is straightforward about its future goals, with the one that stands the most being to allow programmers to embrace blockchain technology, by ensuring the network is easy to use when compared to rivals.
Furthermore, they have priorities that include allowing greater levels of scalability, security, and more. Other targets are to improve users’ and businesses’ experience with blockchains.
What makes it special is that EOS tries to familiarize its users with blockchain technology. According to their official whitepaper, the company states that they can handle thousands of dApps, even when the user volume is high. Another thing that is unique for EOS holders is the ability to vote for block producers, which is a bit too technical to get into greater detail.
However, many argue that EOS is rather centralized, but is it really? This, and more, we will discuss in our next two sections.
The biggest advantage EOS holds over other cryptocurrencies (in terms of crypto advantages) is its block time. EOS, as a network has a block time of 500ms or half a second. Definitely, this advantage places it as one of the fastest tokens to exist. What this means is that it will only take you half a second to purchase EOS and then another half a second to deposit it to a casino, and finally, another half a second to withdraw your winnings from a crypto casino.
The second biggest benefit of EOS is quite shocking. There are no transaction fees in the EOS network. How cool is that? No matter how many transactions you make, it will never cost you anything. This is because EOS uses RAM, CPU, and network bandwidth, instead of transaction fees. If you wonder how much that would cost you on the other hand. It is completely negligible. For example, if you were to make 1000 transactions, it would still cost you less than $0.01.
Now let’s talk decentralization. There are many that argue that EOS is rather centralized, due to its affiliations. However, the truth is a bit different. It is true that there are a low number of block producers, meaning each producer’s vote weighs more. But this does not mean it is decentralized. It simply means that it is not as decentralized as other cryptocurrencies. Furthermore, EOS officially stated that they are aiming to get more block producers and in turn, to make EOS a decentralized blockchain.
EOS is yet another cryptocurrency that has no restrictions when it comes to ownership and geolocation. What this means is that anyone can own EOS, no matter their country of residency, and any restrictions placed by said country. However, in order to mask activity, citizens might need to use the help of a VPN. This will allow a completely anonymous crypto casino experience, as well as crypto ownership.
You can remain almost completely anonymous when using EOS as a payment method. This is because their website and platform do not require a KYC process. This, in combination with the fact that there are crypto exchange platforms that also do not require a KYC process, makes for an almost completely anonymous experience. This is a great advantage to many that wish to remain untracked.
Now, to get to the more interesting part. What advantages can you expect while playing crypto casino games when using EOS?
Well, first of all, of course, expanded betting limits. What this means is that game providers have no issues increasing and reducing the maximum and minimum betting amounts. For example, fiat currencies have many restrictions placed by governments and other institutions, making this very hard. This makes crypto casino gaming suitable for both low-risk and high-stake players.
We talked about advantages for a quick second, but how about disadvantages. Or even better, how about both, but in the form of a Pros & Cons section, which everyone loves due to their convenience. We will remain completely transparent about the cons because we think it is a very important aspect to take into notice because there are some things that you might not like.
New online casinos accepting EOS deposits
Due to its popularity and being part of the top 50 cryptocurrencies on the market right now, EOS is traded at some of the biggest crypto exchange platforms out there. This includes Binance, Coinbase, Gate.io, Huobi Global, KuCoin, Bybit, Bithumb, Bitfinex, Coinone, Kraken, and more. You will need to create an account with any of these CEXs and purchase EOS.
However, you will also need a crypto wallet to which your EOS will go after purchase. The good news is that nearly all of the above-mentioned crypto exchange platforms have an integrated crypto wallet. This means that once you purchase EOS it will remain stored on the platform you purchased it from.
On the other hand, there are also many third-party wallets, both online, offline, and in the form of a hardware flash-drive-type device. The most popular, easily accessible wallets are Metamask, Exodus, Hyperledger, Trust Wallet, and more.
EOS is a great cryptocurrency with which you can start your crypto casino journey. There are many benefits that the token offers, more significantly the transaction fees and speed. This means that for as little as a couple of dollars you can test out this part of the industry, which is quickly rising in popularity.
There aren’t many other cryptocurrencies that are as beneficial as EOS when it comes to testing the field. However, there also is the disadvantage of the cryptocurrency being unavailable at most crypto casinos as a payment method, which is why you should make sure to check that, before deciding on a casino.
Also, make sure to check our FAQ sections below.
Just like all other crypto casinos, the best license an owner can obtain is the Curacao one. Of course, Curacao is not well-known for being the best regulator out there, however, this is way better than having no license at all. The better regulators like MGA and UKGC, unfortunately, do not wish to get involved with crypto casinos at the moment for unknown reasons, although UKGC is looking to explore that sector, according to the official website.
There isn’t much of a difference between regular online casinos and EOS casinos in terms of game libraries. For this reason, you will find an abundance of slots, table and live casino games, as well as a sportsbook section, and sometimes even unique games developed exclusively for a casino.
You can purchase EOS through most crypto exchange platforms, mainly due to its popularity. This includes CEXs such as Binance, Kraken, Coinbase, Huobi Global, Bithumb, Gate.io, Coinone, Bybit, Bitfinex, and more. These crypto exchange platforms also have integrated crypto wallets, which eases the work you have to do to store your purchased EOS.
In our dedicated sub-section, we got into great detail about the most obvious advantages of EOS and EOS casinos. However, to summarize, some of the advantages are anonymity, decentralization, low transaction fees, quick transactions, worldwide availability, expanded betting limits, EOS-exclusive deposit bonuses (in some casinos), and more.