Today, online casinos are among the most popular websites across the world. However, there is one major issue with these online casinos – they require you to use their specific virtual currency instead of real-world money.
Therefore, users tend to prefer cryptocurrencies over regular currencies while playing at an online casino due to various reasons, with more to follow when you check my blog now.
Source: create.vista.com
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They Are Incredibly Convenient
When you use real-world money or credit cards to deposit funds into your account at an online casino, you have to first go through a lengthy verification process. You have to provide personal information like your name, address, email address, and even phone number. Some casinos will also ask you to submit a copy of your ID card. These casinos have to comply with all applicable laws relating to money laundering and fraud prevention.
Therefore, they have to verify your identity before you can use your account to make any real money deposits or withdrawals. This verification process is extremely time-consuming since you have to wait for the casino to get back to you before you can start playing. And in some cases, if the casino decides that you are not a legitimate customer, you are not allowed to play at all.
They Have Low Transaction Fees
One of the biggest advantages of using crypto to play at online casinos is that you can avoid all transaction fees. Casinos charge their regular players a transaction fee (typically around 5%) whenever they deposit or withdraw money into their accounts. This transaction fee covers the cost of paying for banking services and other administrative tasks.
However, when you use cryptocurrencies to deposit and withdraw, you do not have to pay any transaction fees. You only need to pay a small miner fee to process your transaction. This means that you can use the same amount of money to play at the casino that a regular player uses. You can even withdraw the same amount of money and get the same value in your account as the regular player.
Source: medium.com
You Can Withdraw Them Quickly And Easily
Another major advantage of cryptocurrencies is that they can be deposited and withdrawn much more quickly than real-world currencies. When you deposit funds into your account using regular currencies, it may take a few days for the casino to receive the money. The casino has to go through a lengthy verification process and may have to wait for the banks to process your payment before it can be deposited in your account.
In such cases, you will not be able to play any games until the money is added to your account. You may even have to wait for the verification process to be completed before you can withdraw your winnings from the casino. Depending on the payment method and the country where you are playing, cryptocurrencies can be deposited and withdrawn much more quickly. You can even use a cryptocurrency wallet that allows for instant transactions.
They Are Anonymous
One of the most attractive features of cryptocurrencies is that they are anonymous. No one can track or trace your transaction or link it to your name or address. You can use cryptocurrencies to do just about anything without revealing your personal information to anyone. Another great thing is that you do not have to verify your identity when you use cryptocurrencies to deposit or withdraw money from an online casino. Therefore, you can protect your anonymity while playing games.
Source: coingape.com
Your Money Is Safer From Scammers
The security of your funds is another big advantage of using cryptocurrencies. You can keep your funds in a hardware wallet that is not connected to the internet. This ensures that your funds are safe from hackers and other cybercriminals. While you can use a hardware wallet to store your funds in real-world currencies as well, it is not a foolproof way of protecting your funds from scammers.
Cryptocurrencies Are Consistent No Matter Where You Use Them
One of the most appealing aspects of cryptocurrencies is that they remain consistent no matter where you use them. When you deposit real-world currencies into an online casino, the value of your funds can be affected by many factors such as the exchange rate and inflation. The value of cryptocurrencies remains consistent no matter where you use them. This is because the value of these cryptocurrencies is based on supply and demand in the market as opposed to the government’s inflation rate.
Source: coinpedia.org
Commissions And Fees Are Much Lower In Crypto Casinos
Lastly, online casinos charge high commissions and fees for depositing and withdrawing funds in real-world currencies. You can expect to pay around 5% in fees just to deposit funds into your account. And even if you win a significant amount of money, you may have to wait for several weeks before you can withdraw your funds. These fees and wait times vary from casino to casino. Some casinos may even refuse to accept certain payment methods like credit cards.
Cryptocurrency casinos charge much lower commissions and fees for depositing and withdrawing funds. You can expect to pay just a small miner fee for every transaction. This is usually less than 1% of the total amount. And even if you win a large amount of money, the casino will quickly process your withdrawal request and release the funds into your account. Depending on the speed of your chosen cryptocurrency, you can expect to have your winnings in your account within minutes.
Get Into The Crypto Casino Action Now!
Cryptocurrencies offer numerous advantages over regular currencies when it comes to playing at an online casino. They are incredibly convenient, have low transaction fees, can be withdrawn quickly and easily, are anonymous, your money is safer from scammers, and they are consistent no matter where you use them.
