by As a virtual digital currency, cryptocurrency is the best medium of financial exchange on online platforms. If you compare the efficiency of online payments using bank transfer or debit/credit card to cryptocurrency, crypto takes the day. Online casinos with top casino games have understood this fact, and most have moved to, if not to, include cryptocurrency as a means of payment on the platforms.
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You may be wondering how beneficial cryptocurrency is for online casinos. In this article, you will learn about seven benefits of online crypto casinos compared to traditional ones. myetherwallet 개인 키 로그인
Safety and Security
Any online platform that involves payments tries to be as secure as possible to earn the trust of its users. Before the rise of cryptocurrency, online payments were only through bank transfers and debit/credit cards. But cryptocurrency is more convenient than conventional means.
Online crypto casinos use blockchain technology (the most secure technology in the world) to make their system immune from online attacks. The use of cryptocurrency for payments makes the gambler’s information safe too.
Assume that hackers get access to a traditional online casino platform. Since you used your card to make payments on the platform, your details are accessible to hackers, who can quickly attack your bank account and steal your money. In the case of crypto payments, transactions cannot be traced back to your bank account. It is even impossible for hackers to get into your crypto wallet.
Privacy
In most parts of the world, gambling is legal. However, gambling is sometimes associated with negative things like addiction and bankruptcy. As such, you find that many people do not want their partners, family members, or friends to gamble.
Most people gamble for leisure and to pass their time. Let’s say your spouse is against gambling, but that’s your leisure activity. You will still find a way of gambling anyway.
The transactions are registered in your bank statement if you used your card for payment. If your spouse sees the bank transaction, it can bring issues to your marriage. However, crypto transactions cannot be traced back to your bank statement. Therefore your privacy is protected on the online crypto casino.
Instantaneous Payments
A gambler’s joy is receiving their winnings within the shortest time possible. When there was no cryptocurrency, a transaction would take days or weeks. This long wait was because of third-party involvement in the transactions.
Banks were the third parties. The funds moved between the bank account and the online platform. With cryptocurrency, transactions are end-to-end with no third party involved. That’s why transactions are complete within seconds or minutes. The worst case scenario will still see a gamer receive their payment within the same day of the transaction.
Cost Effective
For conventional fiat currency payments, the transactions attract pretty high fees. It can discourage gamblers because their earnings decrease due to the high transaction fees from third-party involvement.
Cryptocurrency transactions charge very low or no fees because they are peer-to-peer with no third party.
Increased Bonuses
Online crypto casinos benefit from the absence of a third party in the transactions. Because more gamers are motivated and play more, the casino increases the bonuses to motivate them further.
Also, since the transaction costs are minimal, the gamblers benefit because they receive most of their winnings. Online crypto casinos offer a wider variety of games compared to traditional casinos. This also boosts the available avenues of earning more bonuses for the gamer.
Convenience
Gambling is illegal in some countries, but people still want to participate in their gambling leisure activity. Online casinos are their means of gambling. However, it’s impossible to gamble with your credit/debit card without being traced by the government. Remember, banks control all your transactions.
Online crypto casinos make it convenient for such people to gamble. Any third party does not control cryptocurrency transactions; not even the government has authority over them.
Credibility
Traditional casinos had to partner with banking and other institutions to enable them to operate. Online crypto casinos are different. They use blockchain technology and can perform the functions they used to outsource by themselves.
For this reason, online crypto casinos are more credible, accountable, and transparent with their clients as there is no third-party involvement.
Conclusion
Many people who perform online transactions must be grateful for the invention of cryptocurrency. Crypto transactions have many advantages over conventional fiat currencies. You can get a wallet and explore.
