In today’s online gambling industry, cryptocurrency has proven to be a great innovation. Digital coin payments bring several advantages to both the house as well as the player. Below we will discuss some uses of cryptocurrencies which make participating in online gambling real fun.
The most important aspect of cryptocurrency that attracts the operators of online casinos is its security. Usually, these service providers store extensive customer database on a centralized server. These data are actually all the information regarding any payments the player had ever made. Since these online casinos have millions of registered users worldwide, this happens to be the target area for the hackers who tend to commit mass credit card fraud if they become successful to compromise the security of any of these centralized databases. But in case of cryptocurrency payments, things are much safer, since all the casinos can store is the customer’s public key besides the amount they deposit. Customers do not need to provide their personal information like name, address or credit card number. This massively reduces the risk of security issues.
Since cryptocurrencies do not need authentication from a centralized source to release funds, so time for fund withdrawals are significantly less at Bitcoin casinos. In case of traditional online casinos, due to the lengthy fund withdrawal players have to keep large bankrolls to play for some days between withdrawals. This is to some extent inconvenient to the players as their money remains in a fixed account and out of their control. On the contrary, the crypto casino players can withdraw their money quickly. So their funds are instantly available to spread to diverse venues if they choose.
Apart from enhanced safety properties and greater fluidity to move funds, using cryptocurrency is also considered to be cheaper for the casino themselves. This is because the customers bear the brunt of the cryptocurrency network fees. Hence casinos can offer various games with better pay-out percentages along with additional bonuses for loyal players.
Bonuses and Promotions
Bitcoin and other cryptocurrency casinos frequently offer higher bonuses. Since they do not need to bear the overheads of Visa and MasterCard fees they earn extra revenue compared to traditional online casinos. It is often seen that players get 200% up to 1BTC as bonus offer in crypto casinos. These bonuses are regularly offered in several cryptocurrencies.
Considering the above factors it easily be derived that using cryptocurrencies in online casinos are having the winning edge over traditional online payment getaways.