Introduction
The gambling industry is not one that is shy of change. And at the moment, the industry is seeing a huge shift towards people using cryptocurrency to bet when playing at online casinos rather than traditional fiat currency. And casinos themselves are also preferring that their players use cryptocurrency, but why crypto? What benefit does it have for casinos and what benefit does it have for players? Well, a lot of it has to do with safety and security.
People who play online casinos are more conscious and reluctant than ever before to go provide personal information to websites they do not really know. If someone wants to play at a site like Crypto Casino Ltd using cryptocurrency, they do not need to give away their personal information. Instead, they just need to provide the details of their crypto wallet, and they can play straight away with negligible risk to their private data.
No personal information is needed
This means that the player can enjoy everything the online casino has to offer without divulging all of their personal information. And when we say security, we mean that it offers the player security. People are always sceptical of casinos, whether they are land-based or online, about how fair they really are to the player.
If you play at a crypto online casino, it means that you are playing at a casino where you can literally be guaranteed that there will be no foul play. And this is one of the reasons online casinos that support cryptocurrency are becoming so popular. The underlying technology behind crypto is called blockchain and this basically means that everything is decentralized.
Transparency is key
Any bet or transaction you make at Bitcoin casinos, for instance, is recorded and publicly visible but not identifiable to you. This means that full transparency is absolutely mandatory when playing online at crypto casinos.
This does not mean that you get an unfair experience if you play at an online casino that does not accept cryptocurrency, but that a lot of people like the concept behind an online casino.
Another big benefit for casino players who choose to play at crypto casinos is the fast deposit and withdrawal times, which again are thanks to the decentralised nature of cryptocurrencies. It makes everything a lot quicker and more simple, both for the casino and for the player.
Instant deposits and withdrawals
When you make a deposit or withdrawal with standard currency, it has to go through various intermediaries, such as banks and payment processors; this is not the case with cryptocurrency. It is purely between yourself and the other party, with the other party in this case being the casino. This cuts out any need whatsoever for a middleman and also reduces time and cost. And so when it comes to playing at an online casino, a common frustration has always been that players have had to wait to withdraw their winnings, something that is a bit anticlimactic after you have just had a nice win. However, if you play at an online casino with cryptocurrency, both deposits and withdrawals are instant and also cheaper as there are no processing fees.
In Summary
There are many different reasons why crypto is becoming more popular at online casinos and these are just some of the reasons. The last reason we will leave you with is accessibility. A lot of people, depending on where they are in the world or due to not having the financial ability due to the banking regulations in their country, are unable to play at online casinos. However, if they choose to play with cryptocurrency, this means that they can play at any online casino they want, as all you need is a crypto wallet and nothing else.