Online casinos are considered incredibly popular today, as the number of players that are visiting and playing on casino websites is increasing each year. In addition, the number of online casinos is also increasing every year, as many business owners and brands are now seeing the popularity of online gambling and are starting to jump on the bandwagon. However, out of the hundreds of online casinos available on the web, there are only a few that are considered the best.
There are many different criteria to determine how much better an online casino is over the others, and one of those criteria is its payment methods. In the best and most trusted online casinos, you will be allowed to use multiple payment options that are safe and legal to use. While many are still using credit cards for transactions in online casinos, there are some that use cryptocurrency due to its numerous benefits. To know more, here are the advantages of cryptocurrency in online casinos.
Convenient for Payments
One of the main benefits of using cryptocurrency in online casinos is that it is very convenient to use, as you can quickly connect your crypto wallet app to an online casino that allows cryptocurrency payment and automatically transfers coins to your casino account.
Not only are deposits convenient in cryptocurrency, but withdrawals as well, as you can perform the same method, although it would start from the online casino and end with your winnings transferred to your crypto wallet. You can check out the list of casinos that allow cryptocurrency for deposits and withdrawals by going to the official website of Cryptocurrency Casino.
The convenient payments are mainly attributed to cryptocurrency’s simple mechanic of peer-to-peer transactions, which enables you to transfer your coins directly to the online casino without middlemen, which are usually found in debit and credit card transactions. So, if you want to have transparency for payments and transactions in online casinos and even in other online establishments and services, then you are free to use cryptocurrency.
Faster Processes
Because of the peer-to-peer transaction, cryptocurrency enables you to have faster processes for deposits and withdrawals on online casinos. Unlike in credit cards, where the transaction would have to go through the credit card network and the card issuer before the payment can push through, cryptocurrency doesn’t go to a middleman, which can often cause errors or inconsistencies within the transaction.
In addition to having faster transactions, deposits and withdrawals in online casinos are also quicker through cryptocurrency, as the coins you deposited or the winnings you will withdraw will push through in just a few seconds or minutes. Debit card and ePay platform withdrawals may often take hours or days before you can receive your winnings and use them to purchase stuff online or in physical stores. If you don’t want to wait for withdrawal transfers, you can just use your crypto wallet and withdraw your winnings using it.
Records Transactions
If you want to record and keep track of your payments and where you often use your crypto wallet, the great thing about cryptocurrencies is that they are recorded on a public list called a blockchain, where you can see all of your transactions as long as you are participating as a member of the network. The blockchain will allow you to have easier tracking of any actions done by your crypto wallet, such as payments, withdrawals, and more.
What’s also nice about the blockchain is that you also have the chance to track down suspicious activity within your crypto wallet if it ever gets hacked, so you can have a faster time reacting to the activity and reporting it as illegal.
If you are the type of online player that uses an Excel or Google Sheets file to record your budget and payments in online casinos, the blockchain will be beneficial for you to use, as it does provide not only records of transactions but also offers statistics about your crypto wallet that shows you the rise or decrease in value of your cryptocurrencies.
Keep Your Anonymity
Cryptocurrency enables you to keep your anonymity when making payments or withdrawals in online casinos. So, if you want to hide your personal information online to make it difficult for hackers to track down your name and other sensitive info about you, you have the option to use cryptocurrency. Within the blockchain, your personal information is also hidden, and you can use multiple crypto addresses to provide more security and anonymity to your crypto wallet.
There are also some online casinos that allow you to create an account without the need to provide your personal information, as long as you use your crypto wallet for deposits and withdrawals. Moreover, you will also need to provide a unique username and a password to successfully create an account on those online casinos.
Cheaper Transaction Fee
Unlike in credit cards, debit cards, and ePay platforms where you would have to pay for high transaction fees when making deposits or withdrawals, using cryptocurrency in online casinos are more convenient to use since it has cheaper transaction fees, and the fee would sometime be free depending on how much you withdrawn or deposited.
If you are the type of online casino player that withdraws his winning once or twice a week, using cryptocurrency would be much better for you, as you would often have to waste too much money on paying for transaction fees if you constantly withdraw your money.
Furthermore, your winnings can also rise in value in specific peak days, weeks, or months if they are kept in your crypto wallet. However, there are also particular days when the value of cryptocurrency is quite low, so you may need to wait for the value to rise again before you can use it for payments, trades, or transactions.
Those are the biggest advantages of using cryptocurrency in online casinos. If you don’t have a crypto wallet yet, now may be the best time for you to create one before you choose the perfect online casino based on your preferences.