Nowadays more and more choose online entertainment over others.
And since online casinos have always used the latest technology for delivering a better experience for their players, the partnership with Bitcoin and other cryptocurrencies isn’t a surprising one.
In this article, we’re going to look at the advantages that emerged from online casinos using more and more cryptocurrencies, as well as a comparison with casinos that chose to stick to fiat currency.
Advantages of Using Crypto at an Online Casino
Before we jump to listing the advantages that cryptocurrency brings to the online gambling environment, a word for the skeptics.
If you’re not exactly a fan of online casinos because you think the games are tampered with, you should learn that there are a lot of independent authorities out there that are testing the games, random number generators, and all the aspects involved for keeping online casinos fair and safe.
Of course, this doesn’t mean that all the casinos on the market adhere to these principles, however, the ones licensed by a trustworthy authority like the Malta Gaming Authority or the United Kingdom Gambling Commission certainly are.
Now that we got that out of the way, let’s see what are benefits crypto brings to the iGaming industry.
Faster and Safer Payments
Sure, e-wallets have evolved to a point in which deposits are instant and withdrawals only take a couple of hours tops.
However, withdrawing funds via Bitcoin gives you instant processing. This means that the second you hit the button to request a withdrawal, the funds are available in your account.
Not only that payments are faster but also become safer since even with the increased security of e-wallets, hackers can still try to gain access to your account. A crypto wallet that is not connected all the time to the Internet is way safer.
And even when you do connect it, thanks to blockchain technology, you are protected.
Increased Privacy
Even though you shouldn’t make playing casino games a secret, in case you want your activity to remain 100% anonymous, there’s nothing like cryptocurrency payments to guarantee that.
In a Bitcoin casino, you will never have to share any kind of personal information to make a deposit.
Possibility to Earn Even More
Sure, this is mostly speculation. However, you’re not a stranger to that since you’re interested in Bitcoin already.
Playing at an online casino using Bitcoin or any other cryptocurrency gives you the possibility to win even more over time since the value of Bitcoin can surge and turn a nice win into a massive one.
Blockchain Technology in Developing Casino Software
Besides the advantages brought by cryptocurrencies to the actual process of playing and enjoying casino games, there are other benefits that come out of this partnership.
The blockchain technology that sits behind Bitcoin can be used to develop more intricate casino platforms, build better games and create a smoother interface for all the stakeholders to collaborate freely.
Besides, the big companies that already use blockchain for building their platforms did not do it just for publicity. There are still countless ways blockchain and cryptocurrency can positively influence any industry out there, the key is for more and more people to accept the transition.
Faster Processes for Everyone
When dealing with fiat currency, casinos have to go through Know Your Customer checks in order to determine the identity of the player.
However, with cryptocurrency, this process would no longer be required since there’s no way someone can use crypto that doesn’t belong to him to fund his casino account. Thus, eliminating a time-consuming process that could mean more time focusing on what players need.