The number of online gambling sites accepting cryptocurrencies is on the rise. Reputable casinos that operate in the mainstream and dedicated crypto sites are embracing the advantages of Bitcoin.
Some are even able to step away from traditional casino formats. They provide anonymous play and provably fair games thanks to the same technology that supports cryptocurrency. It’s not surprising since cryptocurrencies were made for online transactions.
It’s not only the sites that benefit from Bitcoin gambling. Customers gain several advantages too. Let’s explore the primary reasons that make crypto gambling popular and beneficial to players across the globe.
One of the most crucial selection criteria for choosing an online casino is how fast you can get your winnings. If you’ve found an online operator that offers crypto withdrawals, then you’re likely to get your money pretty quickly.
Traditional payment methods can leave you waiting between two to seven business days. If you use a bank wire or cheque, it could be even longer, up to 15 days. On the other hand, withdrawing using cryptocurrencies takes a fraction of that time.
Casinos that offer Bitcoin, Dogecoin, Ethereum or other cryptos often get you your money back the same day as you make the request. Setting aside the approval time, most crypto transactions are processed within minutes and, at most, take a couple of hours.
Cryptocurrency uses blockchain technology. The use of blockchain is part of an approach known as decentralization or the decentralized web. It’s a move against single-actor control towards power and control that’s shared out among individuals and users.
By using cryptocurrency at an online casino, you’re contributing to the decentralized web movement. It could be a smart move if that’s the way the internet is heading. It also gives you more control over the details you share, your privacy and who you’re dependent on to enjoy time online.
The decentralized web holds a lot of promise for online casinos and players. As third parties and single points of failure are removed, the relationship between casinos and players will improve. Transparency and trust will be built in, leaving a safe place to play and have fun.
While the internet is global, there are still some country-specific barriers that change the way individuals access services. While local laws and infrastructure need to be dealt with offline, issues of currency and exchange rates can be handled online.
Cryptocurrency transactions are borderless. It can be used to play anywhere in the world, so it’s no longer an issue whether a casino accepts your preferred currency or payment method. As long as they accept crypto, you’ll have a convenient way to deposit and withdraw.
It’s rare to see fees for Bitcoin transactions at a casino, which makes it an accessible option. Once you’re set up with a wallet and have some currency, you’re ready to go.
The name cryptocurrency stems from the fact that transactions are encrypted. Only you have your private key that gives access to your Bitcoin. Using crypto means that transferring the money to the casino can be done by sharing as little information as possible. On the other hand, if you use a bank card, you’re linking to your account, which is connected to all of your personal details.
As previously mentioned, cryptocurrency uses blockchain, which has inherent security qualities. The blockchain is built from several stores of linked information. It leaves a clear trail of information that can’t be tampered with, making it difficult for fraud to occur.
Cryptocurrencies rely on a digital public ledger to record each transaction. As this information is decentralized, it’s stored in multiple sites across the world. It means there’s no one weak point that allows for hacking or editing of data. The other parts of the ledger will quickly show any inconsistencies.
Just As Fun
Crypto has come a long way. Many crypto casinos now have years of operation under their belts. They run professional operations that meet the same high standards as traditional sites. The bottom line is that you can reap all the benefits, such as security, borderless payments and fast transactions, without missing out.
Some crypto casinos have exclusive games that you can play using Bitcoin. The catalogues are large, with thousands of titles to choose from, so you won’t compromise on entertainment when using crypto. If moving with the times and being part of the decentralized web is important to you, then the decision is an obvious one.