The mysterious world of crypto has now gone mainstream, with plenty of industries expanding to accommodate this new digital currency. One notable sector is of course the casino one, always known to be at the forefront of technological advances. So, without further ado, keep reading to learn all the good stuff that came about when crypto and casinos joined forces.
Crypto Casino 101: The What and The How
Before we get into all the benefits that come along with using crypto casinos, let’s quickly go through what a crypto casino actually is. This is an online casino that offers the same range of games you’re accustomed to seeing but with the added benefit of being able to pay via crypto. Thus, you won’t have to worry about not being able to play blackjack, slots, roulette, and even live games.
As such, a crypto casino in the USA would accept payments outside of the standard US dollar. This is because the transactions are not limited to bank transfers and credit/debit payments. Instead, you have the option to use a plethora of digital currencies. From Bitcoin and Bitcoin Cash to Ethereum and Tether, the options are quite vast.
If you haven’t purchased crypto previously, you do this by using a fiat currency and purchasing it on an exchange like Binance or a banking platform like Revolut. Just like with physical money, you will need a wallet to keep your crypto.
You’ll be presented with two options: a cold wallet, which isn’t connected to the internet, and a hot one, which operates online. Alternatively, some platforms and exchanges, like the aforementioned ones, also let you store the currency you purchased. For online payments on crypto casinos, you’d typically want to have a mobile wallet, such as Exodus and MetaMask.
Once you have all of that sorted, the only thing left to do is make a crypto payment. Just log into a crypto casino like Bovada, then click on Deposit and select the currency you’re going for. Then copy the casino’s address, then go to your wallet, and press send after inputting the address and amount.
Make sure to select the same currency as the one you opted for on the platform and don’t make any mistakes when it comes to the address and amount. Then, double-check you’re all sorted and confirm the payment.
The process for withdrawals is similar, just in this case, you need to click receive on your digital wallet and copy your wallet’s address to the crypto casino. Enter the right amount and currency on both platforms and confirm this transaction.
Now that we’ve sorted that out let’s get to the benefits:
Faster and Cheaper Transactions
For starters, crypto transactions are typically faster and cheaper than regular ones. This is especially perfect for international payments as they can be costly and quite slow. It makes sense that online casinos, which tend to typically cater to people around the world have opted to implement this payment method.
The reason behind this is that it is a decentralized currency with no governing authority. Thus, there are no intermediaries holding deposits or withdrawals, allowing the transaction to be almost instantaneous without added fees.
Security and Anonymity
Since crypto is decentralized, there is no middleman viewing or impacting your spending. Everything is done using secure blockchain technology, with every transaction logged into a ledger that is practically impossible to tamper with.
Plus, all of your data is fully encrypted, adding another layer of protection from hackers. Overall, you can rest assured that all of your crypto payments will remain anonymous. Of course, while it helps to use crypto, you should always take the necessary measures to protect your financial and other sensitive information.
Attractive Bonuses and Rewards
One specific to crypto casinos’ benefit is the added bonus and rewards that come along with using crypto as your payment method. Due to all the aforementioned reasons, when enjoying running promotions, you will typically get more bang for your buck when compared to regular currencies.
For instance, on Bovada, any new user can enjoy a Welcome Bonus. Should you pay with a traditional method, you can get a 100% match bonus on your first three deposits amounting to $1000 each. However, if you use any cryptocurrency, this goes up, with a 125% match bonus of up to $1250, totaling a maximum amount of a mind-boggling $3750.
Worldwide Accessibility
Cryptocurrencies are not based in any set location or country; this means that crypto casinos can enjoy worldwide accessibility. So, even if someone is located in an area where banking services or fiat currencies aren’t easily accessible for payments, they have the alternative to using crypto.
They would just need an internet connection and a modern device such as a phone, tablet, or PC. It’s clear how this can level out the playing field for players globally, making it a more inclusive option.
Variety of Cryptocurrencies
Lastly, we’d like to talk about the sheer number of currencies you can go for. While Bitcoin may have started the crypto craze, it mostly certainly hasn’t ended there. Every currency tends to come with its own benefits, meaning one can use a currency not only to pay for games but also for other purposes like investing or using it as an alternative to SWIFT.
Conclusion
Overall, we can say that the rise of crypto casinos has certainly benefited both users and the casino itself. And as these digital currencies become more and more mainstream, we can expect even more advances to come in both sectors. So, if you haven’t made the jump to crypto casinos, perhaps it’s time to consider this move.
