How cryptocurrency and gambling go together
The use of cryptocurrency is on the rise today, and it is making an impact in many fields. One of the best ways to make use of the cryptocurrency is at online gambling because using digital currencies gives you the best maximum online gambling experiences. Despite that, people are starting to realise that using cryptocurrencies can be beneficial in many ways and not just in online gambling.
Bitcoin is currently the most well-known cryptocurrency in the world, particularly with gamblers. It is used as an alternative to credit cards or any other forms of transactions. Today, we shall talk about how the crypto coins work in the gambling sites, and how they can be of advantage in the casino industry compared to the others.
If you’re equitably new to the online gambling world, you might not understand why players opt for cryptocurrencies rather than the other transaction methods. However, there are fairly good reasons why digital currency is making a wave in the internet gambling industry. When a player registers with a casino, generally, he/she cannot play live casino games unless and until they make the minimum deposits. Most of the casino sites offer casino bonuses to new players, such as free spins, or welcome bonuses, but they won’t be able to make money off their winnings unless they deposit in their account, and this is when digital currencies come to use.
Unlike the earlier days where players were required to transact via credit cards, bank cards, where there was always a need of a third party, the digital coins can now be used to send the funds directly to the casino site without any hassles. For instance, you want to deposit $22,000 in your account, and since the current value of one bitcoin is approximately $11,000, you require to transfer just a pair of Bitcoin to the casino site. Next, they will direct you to their wallet for Bitcoin, and you need to type in the codes for the transfer to take place. Still, some of you must be wondering why people would opt for cryptocurrencies to fund their accounts, and here’s why. Take a look at the advantages of using cryptocurrency to fund your account.
The expeditiousness of the crypto coins would be the most significant reason why players choose to opt for it. They offer super fast and hassle-free transfers, without any interruptions from third parties like credit card companies or banks do. When players fund their accounts via cards or banks, it takes up a great deal of time during the process, however, the moment you make a deposit using cryptocurrencies, it will affect the account instantly. There is a vast difference in the transaction speed between digital coins and fiat money, in which the amount of time spent during the payment made by cards, can be spent at gambling.
Funding your casino account through credit cards or other methods costs you a lot of interest fees if you fail to pay your card within the validity date. Nevertheless, cryptocurrencies only charge a meagre transaction fee. The expense of the deposit fee may vary depending on the value of the coins, but it is not even close to the high-rate interest that banks and cards charge you.
Another exceptional aspect of the cryptocurrency is that they are completely secured and protected for all the transactions. When you deposit in your casino account using digital currencies, all you are required to disclose is the name of the casino website you’re signed up to. However, again, when you complete your transactions via your credit card or bank, you are compelled to submit the secret numbers that are on the back of your card, which in return, gives hackers access to your account.
Whether it is about personal data or shopping or visiting a restaurant, we all need the privacy of our own, and that is what cryptocurrencies offer us. They are super reliable and offers complete privacy when you fulfil the transactions using the digital coins. Your personal information is always secured, and you do not need to reveal it too.
Author : Heather Heaton
Published Date : 29/07/2019
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