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The Benefits of Crypto Casino Gambling

Written by:
Payton
Published on:
Jun/09/2020

Crypto has emerged as the banking method of choice for millions of online casino players in recent years. Most of the leading casino sites now accept Bitcoin and other cryptocurrencies for deposits and withdrawals. These are the seven key benefits of using crypto for online casino gambling:

Rapid Transactions

Cryptocurrency transactions are conducted on a peer-to-peer basis. This cuts out the middleman and paves the way for rapid deposits and withdrawals. You will often have to wait several days to receive your winnings if you opt for a wire transfer, a cheque, credit card, debit card or e-wallet as your withdrawal method. This can be a tedious and frustrating process. Many Bitcoin casinos offer instant withdrawals, which is music to the ears of anyone that has grown exasperated during mind-numbing waiting times when using fiat currencies.

Cost Savings

You should save money if you use crypto for online casino gaming. You do not have to worry about handling fees, conversion fees or any other hidden fees, because there is no need whatsoever for third-party involvement. Crypto casinos generally do not charge a fee for transactions, so you do not have to worry about your margins being eroded. If you check out the banking page at an online casino, you will often see fees attached to various withdrawal methods, but it should be free if you opt for Bitcoin or Ether. Crypto banking means you do not need to rely on e-wallets like Skrill and Neteller, which take their cut and eat into your winnings, so it is a much more cost-effective way to play at the world’s best online casinos.

More Attractive Odds

Most online casinos now encourage you to choose crypto as a banking method, because it means they do not have to pay fees to the banks. Their house edge is no longer eroded by third parties, as crypto allows them to deal directly with their customers. They often pass on a chunk of these cost savings to the players in the form of more attractive odds. For that reason, you will often find higher payouts at crypto casinos than at the sites that are still heavily reliant on fiat currencies. Online casinos often provide various other incentives to encourage you to use crypto. They often allow higher withdrawals, and they provide much better bonuses if you choose to deposit using crypto. You cannot take advantage of bonus offers if you use e-wallets like Neteller and Skrill, because they have been used by players abusing bonuses in the past, but crypto users can enjoy bonuses, giving you a better chance of turning a profit.

Added Security

You do not need to worry about hackers and scam artists trying to steal your personal and financial data when you bet with crypto. Most online betting sites use SSL encryption to protect their customers, but there are still several examples of players being hacked. The Oregon Lottery, BetAmerica, Golden Nugget and Resorts were among the big brands to fall victim to cyber-attacks earlier this year. That should not be an issue if you use crypto for banking at online casino sites. The blockchain technology works on an anonymous, decentralized basis, so you need not fear discrimination. There is no need to worry about identity theft, because the casino site will only see a transaction code and you do not need to enter your personal information. You will not be required to insert your account number, security code and expiry date on a web form. All you need to do is provide an address and encoded secure keys, and you will be able to make deposits and withdrawals without having to worry about safety issues.

No Location Restrictions

Cryptocurrencies were specifically designed for online transactions. Bitcoin and the various altcoins transcend international borders with ease. The transactions are conducted on an anonymous basis, meaning you can play at any online casino in the world, regardless of where you are based. Casino gaming is forbidden in some countries and states, but if you have a VPN and a crypto wallet you can easily sign up for any casino based in a legal jurisdiction. If your local online casinos offer a poor selection of games, you can simply play at a casino on the other side of the world that has a better offering.

Privacy

Most people are now concerned about personal data and privacy issues. A survey of 1,000 American adults in December 2019 found that found 97% of respondents were somewhat or very concerned about protecting their personal data. Using crypto makes it much easier to protect your personal data and enjoy privacy online. You do not have to give your email address or phone number to an online casino, so you will not be bombarded with annoying marketing materials. They also cannot limit your action or ban you for enjoying success if it is all done on a private basis. All crypto users know that some coins are more secret than others, but leading crypto casino sites accept Monero, which is renowned as the most private and secret of all the digital coins.

Breadth of Choice

You can choose from a huge range of cryptocurrencies at the top online casinos. For instance, Unikrn Casino accepts Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, Ripple, Dash, Tether, Dogecoin and TRON, and it even has its own cryptocurrency, called UnikoinGold. It is great to see online casinos offering such a broad choice of coins for deposits and withdrawals nowadays. The main drawback when it comes to using crypto for online casino gaming is the volatility of the coins. In March, Bitcoin lost more than 20% of its value in a single day. That sort of activity can seriously erode your winnings, so sites like Unikrn should be applauded for welcoming a stable coin like Tether. 

If you prefer to use Bitcoin or Ether, you can always just make a rapid withdrawal as soon as you have finished playing and quickly convert it back into your fiat currency of choice before there are any wild fluctuations in the crypto market.

 

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