Crypto has made a huge impact on the world, and it is only quickly growing. Nowhere has the impact been bigger than the online gambling industry. This was one of the first places that recognized the advantages these currencies offered.
This is the reason why there are so many online casinos that either accept or exclusively use crypto-currencies. In fact, according to Jayson Peter from CasinoUSA.com, more than 24 online casinos currently accept crypto as a method of payment.
Just because it is popular may not be enough to convince you of the benefits, though. So, let’s take a look at some of what crypto has to offer online players.
Payment methods for online gambling have to be secure, and though traditional methods of payment do a good job protecting your money, crypto is better. Cryptocurrencies are decentralized, meaning that transactions and data for these currencies are stored everywhere on countless different devices.
In order for a would-be thief to hack and steal your money, they would need to make all of these different devices agree. This is highly unlikely, and should someone attempt it, they will simply be booted from the network.
Hand in hand with increased security comes increased privacy. Nowadays, it seems like everyone is trying to track you, so it is refreshing that cryptocurrencies offer a way to protect your information.
When you use a cryptocurrency casino, you don’t even need to give out your name. There are no credit card numbers required, no bank account registration, and no personally-identifying information.
You will have likely already handed out some information to whoever you’re getting your crypto from, but at least that’s likely no worse than a bank. Plus, you are really limiting the risk of a breach of your data by minimizing who has your data.
Cheaper Transaction Fees
No matter what you are paying with, there are going to be transaction fees. But, with a cryptocurrency, these are a fraction of the cost of traditional payment methods. You also know what you are paying because, at least with Bitcoin, there are no hidden fees involved.
Now that you know crypto transfers have lower fees, it should come with no surprise that casinos often offer bigger rewards for using them. This is most obvious when you visit a casino that accepts both payment methods.
If you look at the welcome bonus that many of these casinos provide, you will normally see a similar type on the surface. But, if you look deeper, you will generally see that the crypto bonus has a larger matched percentage with a larger amount offered. The same typically applies with reload bonuses as well, and it all comes down to the lower transaction costs.
The last advantage comes down to the lack of government restrictions on these currencies. With crypto, their casinos don’t have the same betting limits as with traditional payments. This means casinos can establish much higher betting limits which are great for high-rollers.
Overall if you like to visit online casinos regularly or enjoy some high rolling, then you should definitely consider using crypto. There are few disadvantages, and you can definitely save some money on fees and benefit from bigger rewards.