Over the years, the online gambling industry has supported a plethora of payment options. But with the introduction of cryptocurrencies, the iGaming industry has grown to support a good number of crypto coins for casino payments.
So, below we have discussed the different ways in which crypto casinos have impacted the gambling industry.
Online casinos and cryptocurrencies
Cryptocurrencies have for a long time been used for payments in different industries. But with the popularity of Bitcoin and Ethereum, the online gambling industry has embraced these payment methods.
Furthermore, Bitcoin casinos have become the go-to destination for most gamblers across the globe. This is mainly because the payment option is decentralized. So, anyone from any country or region can use BTC for casino deposits, provided the country supports online gambling activities.
Benefits of cryptocurrency in online gambling
The popularity of cryptocurrencies has been mainly because of how convenient and easy it is for players to make online casino payments, as discussed here.
Affordability
Online gambling has its perks but also its guidelines. The obvious one being, you can make money if you win. But other common withdrawal options like bank transfers will charge you for casino transactions.
On the other hand, crypto coins like Bitcoin do not charge for deposits or withdrawals. So, you will receive the exact amount that you win at an online casino at no extra cost. This makes every player want to use cryptocurrencies for casino transactions to save up on every penny.
Also, setting up a Bitcoin wallet account is usually free of charge. You just have to know the best cryptocurrency exchange to use.
Player security
Cryptocurrencies provide a layer of security that other payment options do not offer.
This is because blockchain technology assigns unique codes after every transaction that takes place at an online casino. So, with cryptocurrency technology, it’s hard for any third party to access your banking details. Before crypto casinos, operators faced a lousy reputation as players’ information was being accessed by unauthorized personnel.
The crypto casinos have also helped to curb fraud. This is because the crypto exchange sites usually employ the most complex security measures. So, the only individual who can access your account is you or any individual with your password. You are, therefore, advised not to share your account details.
Fast payout processing
Most crypto casinos have fast withdrawal processing times. This makes it easy for any punter to access their monies once the withdrawal is processed. For that reason, every punter wants to use crypto coins like Bitcoin for casino transactions.
Other casino payment options like credit cards usually have a withdrawal processing time of about two days. This makes it hard for punters who want some quick cash for use.
The best crypto online casinos also don’t experience transaction delays. If you, however, happen to come across an operator with withdrawal delays, you can always contact their customer support team for assistance.
Anonymity
Every online punter wants to play at a secure gambling platform. All our recommended crypto casinos are regulated, operators. Also, unlike the standard casinos, where you are required to provide your location details, some crypto casinos do not require you to provide this information when putting in a withdrawal request.
Your casino transactions will also not reflect in your monthly bank statements, unlike traditional credit card transactions.
In conclusion, crypto casinos have positively impacted the gambling industry. This is obvious from the fact that most players now prefer to open accounts with BTC casinos. So, the more the signup accounts, the more money casino operators make. So it’s a win-win for both parties.
