The cryptocurrency has great potential in the gambling entertainment industry due to many advantages over other payment methods in online casinos. The fast speed of transactions and the absence of commissions that might be applied when converting traditional currencies attract forward-thinking online casino users. In this article, we will tell you about the reasons why cryptocurrencies are getting more and more popular at online casinos.
The Success of Bitcoin Casinos
The so-called bitcoin casinos or crypto casinos appeared one after another and successfully exist until today, noting the players’ interest in crypto gambling with BTC . Many bloggers and gamblers recommend playing exclusively in these casinos, considering them to be more professional. Our experts cannot disagree with them, noting several advantages of such casinos:
1) Appropriate transaction fees
As cryptocurrencies are based on a decentralized network, no governmental institutions can track crypto operations and earn on them. An appropriate transaction fee is applied for the use of cryptocurrencies, but it doesn’t exceed several cents. In this regard, it is more profitable for both casinos and gamblers to perform financial operations with cryptocurrencies than paying bank or payment system fees. This is the reason we should expect a boom in crypto casino’s growth. Sometimes, such institutions can even stimulate their customers to change the transaction type by eliminating some replenishment fees at all.
2) Anonymity
Unlike other online or land-based casinos, crypto platforms allow gamblers to stay anonymous – it frequently happens that casinos ask their clients to send a copy of their IDs to verify the account and connect such a user to the traditional payment methods. It can be impossible if the customer comes from a country where gambling is prohibited. Crypto casinos allow them to stay anonymous, allowing them to connect only a relevant wallet.
3) Security
Since cryptocurrencies operate according to decentralized principles, they allow you to secure your transaction data from external access. If your financial operations are kept by bank registers or electronic systems, the decentralized crypto registers prevent any attempts to get the transaction’s history of users. Moreover, crypto money cannot be blocked by state authorities or financial institutions, so your winnings are secured.
How to Deposit Bitcoins at Online Casinos?
Bitcoins and other crypts are stored in special wallets. Their working principle is identical to e-wallets made for virtual money storage in regular currencies. The number of cryptocurrency wallets is also great: Blockchain, Copay, Paxful, Guarda, Coinfy, etc. To replenish your casino account in cryptocurrency, you have to:
- Replenish your Bitcoin wallet balance;
- Choose the casino you like, register in it, select the required crypto as the currency;
- Copy a Bitcoin address provided by the site to create a transaction;
- If necessary, enter the details of the gambling platform as a recipient and press Send .
In case the funds have not been transferred, you should primarily find out if your wallet is verified. You can do it not on the casino website but in the blockchain account. The procedure for withdrawing funds is identical to making a deposit.
Cryptocurrency Slots
Only a few providers have not yet adapted their slot machines for playing with various cryptocurrencies. However, Bitcoin, which is the most popular crypto in online casinos, is not supported in NYX, Net Entertainment, Amatic, GameArt games. We believe that the growing popularity of bitcoins and other cryptocurrencies in online casinos will soon force these providers to fully adapt their gaming range to the needs of a modern player.
By the way, what cryptocurrency is the most convenient for you? Share your ideas with us in the comments.
