Crypto gambling establishments, such as Tower.Bet Bitcoin casino, have a lot of its own unique qualities and possibilities. The most important one is that you get to use crypto during your bets. It’s in the name, but some people miss the significance of what it means. It’s not just a matter of convenience or preference.
Unlike fiat money (the ‘real’ money, like Dollars), crypto can be earned passively and for free in a perfectly legitimate and simple way – mining. Mined coins can be spent on a large variety of items, including gambling. To that end, it’s actually a very good use of this money.
Mining is a way of using processing power (like the hardware in your computer) to earn additional coins over time. This activity can be done on the Blockchain via auctions, competitions, handouts and other such protocoled actions. The most well-known way is a faucet.
Faucets are algorithms that let you accumulate certain coins over time. They are usually located on some crypto website. To receive your coins, you’ll need to meet some conditions or complete some tasks. Often you’re simply required to be on the website, although it doesn’t give you that many coins.
Regardless, you can still earn an adequate amount passively with just average-tier hardware.
How Does Mining Help?
Mining can get you a handful of coins. Unprofessionally and without investments, you can only make a few USD worth of crypto every day, give or take. A good thing about them is that you don’t really waste anything by spending them, seeing how they made their way to you passively and without investments.
Buying crypto directly would mean you have to spend your own savings on it, spend a lot of time, etc. By gambling with mined coins, you spend money that can be earned back over time with next to no effort. At the same time, you can actually multiply these savings by winning. If you don’t, it’s not a big loss.
So, what you’re actually doing is you get a couple of free turns every day. It’s perfect if you actually come to these places to gamble and not scheme your way to high earnings.
There are several issues with this approach. It might be easier to just buy the crypto you need, but if you seek a free, effortless way to play your favorite crash crypto game, then mining might be to your liking. As for disadvantages:
- Volatility. It takes a reasonably long time to accumulate a decent amount of coins before gambling. And if you don’t use them the same day, they may lose value and cost even less than before.
- Minimal deposits. These are a thing in most crypto casinos. Some of them demand your deposit be worth at least 10 USD, others request more. So, you can’t actually start gambling with barely something.
The combination of these factors means you need to find a crypto casino that has a very low deposit threshold, as well as a couple of readily available faucets. You don’t need a mainstream BTC faucet – you can find a TRON, Cardano or Stellar handout, for instance. They are more generous, and casinos accept these currencies same as Bitcoin.
Don’t forget that you can also apply for a welcome bonus on these casinos. So, in addition the free coins you get from mining, you also might receive a bonus of 100%, 150% or higher just for making a deposit.