There’s no doubt about it: crypto and online gambling are a match made in heaven, benefiting both players and operators. Bitcoin and blockchain warp-accelerated the finance sector, and the iGaming industry casually joined the ride, getting the most of this time-space jump.
Nowadays, dozens — if not hundreds — of casinos rely on Bitcoin and many altcoins for deposits and withdrawals.
Casino Coin (also known as CasinoCoin or CSC) aims to improve the online casino sector further, aiming to become the golden key that opens doors to all casinos. Will it succeed in its mission? That remains to be seen.
Let’s take a closer look at CSC and see if it’s an investment worth making.
Casino Coin Info
Casino Coin is a blockchain-backed digital currency, much like Bitcoin or Ethereum, but with the online casino industry being the main focus.
It offers low transaction fees for players who aim to deposit and withdraw funds from an online crypto casino. Moreover, the currency is safe and secure, providing traceability only available in blockchain coins and making disputes easy to audit and resolve.
Perhaps the most valuable feature of CasinoCoin is the large user base, as players who decide to use CSC will have access to an array of casinos that accept it. Moreover, the easy-to-use wallet will make it much easier for players to become registered members, as the registration process is hugely simplified with Casino Coin.
Finally, CasinoCoin was developed exclusively for the regulated gaming industry and led by a dedicated team aiming at end users and operators.
The coin is supported by the XRP ledger, known for its incredible speed, security, and low transaction costs.
Casino Coin History
Casino Coin has a very long history, as it was created in 2013 but underwent several ground-level rebuilds.
It was LTC-based when it was launched, but the traction was minimal to non-existent. The cherry on top of this unsuccessful cake was the missing lead developer, who abandoned the project shortly after it was launched, dooming it to failure.
The project was restored in 2017 when another team took over and revamped the crypto, switching to Ripple as the main power behind CSC.
The coin reached its heyday on December 17, 2017, when a single unit of CSC was $0.5445. However, things seemed to have gone south after the first wave of crypto investment, with the price dropping to $0.0003 in less than a month. However, this sudden drop could not be attributed to any particular drawbacks of the coin itself. Actually, the team behind CSC increased the number of coins in circulation to meet the demand, which led to the CSC price dropping dramatically.
If you explore the CSC coin trading volume, you’ll notice that it has been consistent until 2021.
In April 2021, the brand underwent another reboot. According to a statement on CasinoCoin’s official website, the coin had another change in leadership in November 2020, with Daniel Keller, the former Technical Consultant, stepping up as the new CTO. He was supported by Matthew Cheetham as the COO.
The new leadership adopted a more focused approach aimed mainly at Tier 1 and 2 gambling markets. At the moment of writing this review, due diligence is underway, and the new team seeks to lick CSC into shape and make it available on many crypto exchanges.
CSC Coin Compared to Other Popular Cryptocurrencies
According to CoinMarketCap, the current market cap for CSC is around $11 million. However, there’s an orange warning sign next to this and several other pieces of information related to CSC, claiming that the shown info isn’t publicly available. Instead, it’s self-reported by the team at Casino Coin. Since CSC underwent a second revamp and change in leadership, the information about its market cap hasn’t been transparent.
Still, even if the reported numbers are valid, it’s safe to say that CSC is a far cry from the current leaders in the crypto space. It’s the 4,185th largest coin based on market cap, which isn’t that much of an accomplishment if we consider that it has been available in one way or another since 2013. For the sake of comparison, Bitcoin’s market cap is $376 billion, and Dogecoin’s (the current 10th-ranked crypto based on market cap) is $7 billion. Terra (LUNA), the 100th largest crypto, has a market cap of $325 million.
CSC is a world apart from Bitcoin and Ethereum regarding the underlying technology. Ripple, the sixth largest coin based on market cap, is Casino Coin’s closest relative, given that it’s based on Ripple’s technology.
Final Thoughts: Is Casino Coin a Good Investment?
The idea of bringing the online casino industry closer and making the lives of operators and players easier is noble. Still, Casino Coin needs to get its act together and go the extra mile to achieve that. So far, the team behind the coin has been keeping afloat, but that’s not enough.
So, is CSC a good investment? It might become one in the future.
Until then, it’s much better to follow the news and see what changes are introduced. Of course, if you need crypto for an online casino, using Bitcoin, Ethereum, and other popular currencies is always recommended.
Should you decide to invest in Casino Coin, we advise conducting in-depth research first to understand the coin and its potential better.