If you’re already playing online casino games, you may have a problem many players complain about: transactions are a hassle!
When you deposit using a credit card, a wire transfer, or an e-wallet, using fiats will result in long waiting times to withdraw, fees, and amount limits. Thankfully, online casinos are evolving, and online operators like Casumo are starting to integrate cryptocurrencies into their offerings. Cryptos can be used directly on these sites or with a crypto wallet like MuchBetter.
If you’ve never heard of crypto casinos, you’ll find out how implementing cryptocurrencies changes many critical aspects of online gambling throughout this article.
Crypto casinos aren’t only about offering a different payment method. Some online operators can provide you with exclusive games, which you can play using Bitcoin or another cryptocurrency directly. It’s an excellent way to keep track of your balance without conversions.
Some of these games are traditional casino games you can play with fiats, but that also accept cryptos and can convert the currency automatically. However, you can also find casino games made to work with specific cryptos, and these games can offer unique gameplay.
When you decide to play at a crypto casino, you can expect instant transactions. It’s because of how blockchain networks work that transactions can be processed faster. The network still has to verify the transaction before approving it, but you won’t have to wait more than 15 minutes once the casino operator has processed it.
Cryptocurrencies are decentralized, so you won’t have a supreme authority handling every decision. Decentralization delegates power on a functional level.
The blockchain uses more advanced encryption than traditional payment methods. It goes beyond adding a password or a two-factor authentication protocol. The token itself is built with a self-encryption protocol. Only the appropriate blockchain can read it. This means that between the token and the network, there’ll be no middleman. It’s also why governments and banks can’t print cryptos or intervene in the crypto economy.
This independence guarantees crypto users complete freedom, as they can send and receive money without having to reveal too much about the transaction itself or who pays who.
When you have a governing institution like a bank handling your transaction, you’ll experience various fees. If the casino is offshore, you’ll have to pay for currency conversions, international transaction fees, etc.
Using a cryptocurrency eliminates all of these fees, and you’ll only have to pay a small transaction fee used to pay miners and keep the network functioning. Moreover, many online casinos impose fees on withdrawals with fiats, but it’s almost never the case when you resort to cryptocurrencies.
When you use fiat currencies, depending on the payment service and the bank, you’ll be limited in the transactions you can perform. The casino will also have to limit how much you can deposit for legal reasons. However, cryptocurrencies aren’t limited in the same way. The blockchain lets you handle your transactions as you see fit. It’s financial freedom in its purest form.
Still, this also means you have to be more careful when you send money because that extra zero you may accidentally add will matter. So, we recommend double-checking every payment you make using cryptocurrencies.
Every step of a crypto transaction is automated. There isn’t an employee in a cubicle inspecting and approving your transaction. This lack of human intervention allows crypto payments to be performed 24/7, so when you request a withdrawal, you don’t have to count business days and hope the bank will hurry up about it.
It proves especially useful if you’re the type to play on the weekend after a long week of work. You don’t need to worry about banks being closed to access your winnings if you get lucky while playing online.
This automation of the entire process also guarantees the anonymity of your online transactions since the blockchain doesn’t need to share personal information about the two parties to perform transactions.
Playing casino games using cryptocurrencies shields you from many issues encountered with traditional payment methods. It can be a huge time-saver, reduce fees, and even lets you discover new ways of playing. However, owning cryptos isn’t for everyone. You need to understand how they work and buy the correct token.
For instance, while Bitcoin is relatively stable, it can still lose a lot of value in the span of a single day. Other coins encountered liquidity issues and crashed spectacularly because of pump and dump scams. This is still a young market with uncertainties, but the potential is there, and they’ll become more common as time goes by.
If you are interested in even more entertainment-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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