Crypto traders are turning to on-chain betting platforms as the market struggles with stagnant growth and limited volatility. The post Crypto Casino Coco’s Native Token Up 1200% After Exchange Listing appeared first on Tokenist.
Crypto Traders Turn to Gambling Tokens As Market Stagnates
As the crypto market struggles with stagnant growth and limited volatility, traders eagerly seek new and exciting opportunities. In recent weeks, on-chain betting platforms have gained significant attention.
Aside from competitors, Coco prides itself on being a “provably fair” casino. Each game generates a seed and reveals its hash using the highly secure SHA256 algorithm. This seed is generated before each game, ensuring every transaction’s integrity and preventing tampering.
“The hamsters are real and the bets are real. The hamsters are running on a track, and the first hamster to cross the finish line wins,” the platform’s website explains. Bets could be placed via the US dollar-pegged Binance USD (BUSD) by depositing Ethereum or BNB Chain tokens.
Crypto Gambling Becomes Key Trend in Online Casinos
One of the most significant advantages of crypto gambling is enhanced security and privacy. Traditional online casinos require players to provide personal and financial information, which can be vulnerable to hacking and identity theft.
With crypto gambling, however, players can enjoy an utterly anonymous gaming experience. Transactions are made using blockchain technology, ensuring that all bets and wins are transparent and tamper-proof.
Furthermore, crypto gambling eliminates the need for third-party intermediaries, allowing quick and hassle-free transactions. Traditional online casinos often have lengthy withdrawal processes that take several days or weeks to complete. With crypto gambling, players can access their funds almost instantly.
Another critical benefit of crypto gambling is the global accessibility it provides. Cryptocurrencies can be used and traded worldwide, allowing players from different countries to participate in the same online casinos. This opens up a whole new world of opportunities and competition, enhancing the overall gaming experience for players.