While crypto casinos have been in existence for several years, they have been rapidly increasing in popularity of late. We decided to investigate why this is - what benefits does playing at a crypto casino have over a regular online casino? Is it worth changing how you play?
In both traditional and online casinos, cryptocurrency is being used in place of standard currency with increasing frequency. The reasons for this change include the increased security provided by blockchain technology, as well as the improved anonymity it provides.
Not only does cryptocurrency provide increased security, but it also gives players access to a wider range of games. This is because it is easier to ensure fair gameplay, privacy, and anonymity when using virtual currencies.
An added advantage of digital currencies is their faster transaction times, which makes them more appealing to those who wish to access their winnings quickly. They're also not subject to exchange rates, making it possible for players to enjoy playing on a global field. Depending on your jurisdiction, this can result in an additional benefit: tax-free winnings!
From improved security to a wider selection of games, as well as faster transaction speeds, there are many reasons why crypto casinos are taking over:
When transferring coins, it is possible to proceed without an intermediary. Therefore, the transaction speed is much faster than traditional financial transactions (source: https://www.business2community.com/kr/gambling/offshore-casinos). When using cryptocurrency, you’ll be able to deposit directly into your casino account, and the currency will be available to use almost immediately. This is a huge advantage if you’re wanting to take advantage of a time-sensitive deal.
The increased transaction speed is also beneficial when compared to the days to weeks that traditional flat currency transactions can take to process when depositing or withdrawing from your casino account. The increased transaction speed of cryptocurrency is due to the super-fast blockchain technology used to process it.
While the security of online transactions has greatly improved in the last few years, it is still trumped by the security provided by the encryption of blockchain technologytransactions. The encryption used makes it very difficult for anyone to steal your information or money when making online transactions.
Crypto casinos are also under more scrutiny, due to being a new phenomenon. This increased scrutiny results in the casinos having improved security and privacy protocols in place for their patrons.
The cryptocurrency industry, and thus the crypto casino industry, highly values anonymity and privacy. The use of blockchain technology makes it extremely difficult for hackers to gain access to your information and makes it much easier to keep your identity private. This makes crypto casinos very appealing to players who want to remain anonymous and ensure that no one can access or view their transactions and play history.
There are parts of the world where gambling with traditional money is restricted, in person and online, and violating these restrictions can land you in big trouble. Digital money is creating a way to work around these restrictions. Not only does it make it possible for individuals to play in their own countries, but they also have greater access to international games.
With this being said, it is important that you always follow your local regulations and ensure that your casino of choice is operating legally.
Playing at a crypto casino can result in higher payouts, thanks to the lower fees associated with cryptocurrency. With no exchange rate to worry about, as well as no third-party processing fees to consider, you’ll receive a greater percentage of your winnings than you would at a regular online casino in most cases.
Some casinos provide players with various bonuses, in the form of free plays or a matched deposit bonus, when they choose to play using cryptocurrency. These bonuses can be an excellent way to give you more chances of play without spending more.
Many crypto casinos are able to offer a wider selection of games compared to regular casinos. This is due to the strict limitations that regular casinos (both online and in-person) are subject to. Often, the same restrictions and limitations are not applicable to crypto casinos, resulting in greater variety. At a crypto casino, you can access anything from roulette, blackjack, and slots, to live dealer games and poker tournaments.
The world of crypto casinos is growing ever larger and with good reason. Their improved security, a wider range of games, lower fees, and anonymity give them great appeal. Add in their global access, and you’ve got a winning formula.