The introduction of cryptocurrencies has definitely altered the whole payment system of every casino in the gambling world. As soon as Bitcoin appeared online, people saw massive prospects in it, and very soon, they started using it for performing online transactions. Due to its unique and innovative characteristics, gambling platforms tried to utilize Bitcoin as a payment option in their games. It has had an enormous effect since a vast number of punters have switched to cryptocurrencies when gambling online. As a result, we have seen an enormous growth of different cryptocurrencies and the number of crypto casinos with them.
In a very short period of time, crypto casinos started dominating traditional fiat currency casinos since they have offered completely new possibilities to every user. It is believed that cryptos might completely substitute traditional currencies in the near future, and there are a lot of arguments supporting this statement. Down below, we would like to provide detailed information about why the advantages of crypto casinos outweigh fiat casinos and describe some of the most frequently used cryptocurrencies briefly.
Advantages of gambling in crypto casinos
There is a wide range of entirely new possibilities when gambling with cryptos on casino websites, and below, we are going to list some of them for you.
Promotion and bonuses
For starters, we want to point out that the majority of gambling platforms offer pretty lucrative bonuses and promotions specifically for crypto users. Even though fiat casinos also include some generous proposals, generally, punters who deposit and withdraw with cryptos get far more benefits.
For instance, you can get various kinds of welcome bonuses and other promotional offers when you gamble with cryptos for a long time. By doing so, casinos inspire customers to completely switch to cryptocurrencies since it will be highly profitable for them at the end of the day.
Low transaction fees
This is the most enchanting quality of every crypto. The majority of traditional fiat currencies include pretty big transaction fees for every withdrawal, and obviously, this is highly unpleasant for every player. The price can go up to 5% depending on the payment method you select, and no one wants to pay this much when withdrawing funds from casino websites.
When it comes to cryptos, we can firmly state that every transaction includes extremely limited fees, and in some cases, there is absolutely zero additional payment required when withdrawing money. This is because cryptos do not have a partnership with third-party government institutions like banks or other ones. Generally, you have to pay up to 0.3% of the total sum that you want to take out from crypto casinos.
Apart from providing very low withdrawal fees, we have to say that cryptos are also able to process every transaction within seconds. You will not have this kind of opportunity in the fiat currency casinos as you have to wait for a long time for your withdrawals there which might take a couple of hours or even days, depending on the chosen method.
Needless to say, no player wishes to wait this long. Therefore they have switched to cryptos since they only need a few minutes to be extracted from your balance.
The initial objective of cryptocurrencies was to establish a safe and reliable platform for online transactions. We can proudly conclude that they have completed their mission excellently, as nowadays, cryptos are considered the best resources to protect payments on every gambling platform.
They are built with highly advanced technology called blockchain that includes complex and sophisticated security measures in order to protect all your transactions. We won’t explain the complicated processes behind its working mechanism, but we will highlight that every payment is highly secured with cryptos, and no one can steal your funds.
Do you want to stay anonymous while gambling on casino websites? If the answer is yes, then we have good news for you since cryptos allow every punter to keep their identity private when creating an e-wallet. You don’t need to provide your personal information, such as name, surname, and so on, because only your username and email are required.
Hence, there is no way to find out your true identity. There are several reasons why some people want to remain anonymous when gambling, for instance, the job regulations or restrictions in certain countries. But, you are completely secured with cryptos.
The most frequently used cryptocurrencies
Although there are tons of available cryptocurrencies in today’s world, the majority of casinos don’t include all of them in their payment options. You will come across only several cryptos in casino games that are the most popular ones nowadays, and we will describe them in short below.
Bitcoin is the most popular one today since it was the first-ever cryptocurrency established in 2009. So, it is no surprise that you will see it as the first available option for every game in crypto casinos. Bitcoin has definitely made a revolution in the online world from its very first years, and nowadays, it has an enormous value. As of the writing of this article, 1 BTC equals 43.446 USD.
It was the first crypto that was introduced on gambling platforms, and we believe that Bitcoin will maintain the first place for a long time.
Dogecoin is a very famous cryptocurrency, and you will encounter this name along with Bitcoin in many places. At first, people did not think that it was something serious and important until the CEO of Tesla started showing interest in it. Hence, it quickly became very popular, and a vast number of casinos started launching it in their games.
Litecoin was created in 2011, but it needed one year to become popular. It resembles Bitcoin significantly – if we take a look at technical characteristics since Litecoin offers pretty much the same type of high-quality services. So, it is also everywhere on gambling websites.
Photo credit: The feature image has been done by Stasnds.