In 2022, crypto casino games have reached an all-time high. 2021 reports indicate the share of iGaming brands supporting crypto settlements reached 80%. BTC and ETH crypto coins are used a great deal.
Almost a quarter of casino bets support crypto. New platforms are opening daily. They offer customers the possibility of transactions in crypto. Coins are increasingly used for settlements in various areas. Gaming is no exception.
Why do players use bitcoin for betting in an online casino: 1. The coin is decentralized, and no regulatory body would monitor the turnover of crypto. 2. Safety and complete confidentiality of payment information. 3. Private purchases and no one will know what you spend bitcoins on at casinos.
4. Fast transactions because all transfers are made instantly. 5. Low fees due to the absence of third parties in DeFi. 6. Payments are often tax-free. Please check your local laws before placing bets in BTC casinos.
There are advantages to using crypto not only for players but also for iGaming operators. They include – full transparency of all payment transactions; – control of funds via an integrated payment processor; – fast account replenishment; – balance control using the CoinsPaid panel.
Introducing crypto transactions into the operation of the casino will be beneficial for sites that are just opening. Coins will significantly speed up the launch time due to the lack of bureaucracy. Online casino owners should study the question of the appropriateness of using crypto.
There are several disadvantages of using crypto in online casinos. Most of the shortcomings are related to temporary factors: 1. Unstable course because Bitcoin and altcoin prices fluctuate daily. 2. Work on the coin continues as it is constantly updated and changed.
3. Crypto payments are not available everywhere. Not all sites can replenish the account with bitcoin. 4. The anonymity of bitcoin also has a negative meaning. Fraudsters often use the impossibility of tracking payments in criminal activitie