Peter Smith
Crypto gambling has been around well before the rise of the American online casino industry. There is no doubt that almost everyone knows the positive things that crypto can offer. Get ready to discover the unbeatable benefits that crypto and Bitcoin bring to online casinos.
Unbeatable Privacy
The main advantage of using Bitcoin and other cryptocurrencies for gambling fees is the increased security. Because countries like America once banned online casinos, players needed a way to play anonymously, and that solution is crypto casinos. These Bitcoin sites started a trend of anonymous registration. Sometimes, all you need is a username, email, and a strong password to jump into the virtual game lobby.
So successful was anonymous gaming that social casinos in the USA now adopt that winning strategy. Many of the top sites, like Pulsz and McLuck, allow members to register anonymously or with a social media account. This enhanced privacy, in tandem with rigorous cybersecurity, encourages more players to play online.
Another factor besides anonymous registration is anonymous banking at online casinos. The longstanding methods like credit cards and e-banking require players to provide their personal and financial information to providers with each transaction. Bitcoin transactions, on the other hand, are pseudonymous and don't require any personal information. This delivers more privacy and anonymity that many players find attractive.
This is great for players who want to keep their gambling activities private. Another benefit is to have a higher success rate of approved transactions. Believe it or not, despite the online casino scene being worth billions, some payment systems and financial institutions still don't approve of gambling charges. To avoid fraud charges and negative credit scores, cryptocurrency led by Bitcoin continues to come to the rescue.
And because many online casinos now host lucrative online gaming tournaments, especially with poker tournaments, privacy is incredibly important. Some of these sit'n go and turbo poker tournaments easily hit six to seven figures. So, you can imagine the bruised feelings that the losing members would feel. To prevent cyberstalking, remaining anonymous with a username or at crypto sites continues to fuel their growth.
Cheaper Processing Fees and Greater Privacy
Cryptocurrencies take away the banks, allowing players to deposit and make withdrawals with much lower fees. This is a great calling card from traditional methods, like credit cards, to get more deposits. So popular are cryptocurrency methods that traditional methods like Visa now offer lower or no transaction fees.
Before the rise of crypto casino payments, traditional banking methods, in some cases, added up to considerable amounts that ate away at the player's gaming budget. Another lift for using cryptocurrencies is lower operating costs for online casino platforms.
One major draw that sets the crypto casinos apart is private transactions. Crypto transactions are public, being stored on a public ledger called the blockchain with smart contracts. This means anyone with the means and knowledge can easily locate a particular address and its associated balances. The nature of the blockchain provides a balanced privacy solution, whereby users enjoy a degree of privacy within the crypto space without compromising the overall network security and privacy.
Fraud and privacy invasion are key concerns for online casino players. Blockchain is one of the most secure and robust technologies. Due to decentralization, it is almost impossible for anyone to hack or defraud. It also has a system that records every transaction on a hack-proof and verifiable ledger. Thus, anyone can track the transaction history.
The Need for Speed
Bitcoin and other crypto options like Ethereum open the door for fast payouts. Long gone are the days of waiting several business days for an online casino to process withdrawal requests, which can take between 3-5 business days. With Bitcoin, withdrawals and deposits are made within a matter of minutes. It allows players to have instant access to their money. Faster payouts lead to an improved gambling experience and more player engagement. Happy members lead to referrals, which boost the popularity and profit for online casinos.
Breaking Down the Geo Barriers
Even with advanced technology, the geo-restrictions are heavy for online casino players. In America, legal online casinos in states like New Jersey and Michigan only allow players present in that state to make bets. However, cryptocurrencies are borderless. This allows crypto gambling sites to be open and accessible to players worldwide, especially with VPNs.
As a result, cryptocurrency has opened the door to players who might otherwise have been excluded from gambling and sports betting markets. This opens the door to potential legal issues, which is why many countries still don't approve of crypto online casinos. Without proper regulation, players can fall into problem gambling or predatory online operators.
Honest Gaming Results
Traditional real money online casinos rely on a random number generator to guarantee honest gaming results. While losing isn't fun, being assured of honest losses builds trust for players. Crypto casinos heavily rely on provably fair to measure honest wins and losses.
Provably fair gives players the power to test the gaming results for themselves after each game. By allowing players to check that all these points are true, it establishes a huge level of trust between the player and the platform. Even though RNG casinos are fair, they are audited for accuracy. This can take time to get the results.
Exclusive Bonuses
Crypto gambling sites are known to provide various incentives and bonuses that are unique to or more advantageous for players using digital currencies. These exclusive crypto bonuses may include higher match percentages, lower wagering requirements, and unique promotions that are not typically offered to traditional casino players. Beyond the welcome offers, some crypto online casino sites go full boar with longterm bonuses like boosted cashback and reload offers. These enhances offers are exclusive to those members who use crypto. Additionally, some platforms have token-based loyalty programs that are based on blockchain technology.
The Future of Crypto Online Casinos
Crypto gambling is more than just a new way to make payments to bookmakers. Players can make online gambling transactions from anywhere in the world with a crypto wallet. These players also have much better control over their personal information and funds, enjoy significantly faster and cheaper transactions, and play games that are assured of fairness with provably fair.
Nonetheless, betting with cryptocurrencies comes with its own risks: while legislation may still be unclear, players are responsible for the safety of their funds, and must be aware of crypto market volatility and the risk of losing on volatile assets. Nonetheless, the introduction of cryptocurrencies in online gambling is likely to continue to fuel the iGaming arena, especially with new sweepstakes casinos.
Peter Smith
