Globally, there has been a huge increase in the number of online gambling enthusiasts opting to use cryptocurrencies, such as Bitcoin, to gamble at online casinos. The main reason for this is that cryptocurrencies cut out the ‘red tape’ by saying goodbye to banks and other financial institutions and giving control to the user. Giving control back to the user is not the only reason why online casinos, like Crypto Thrills and many others, have found such favor among Bitcoin gamblers.
At Crypto Thrills casino, where players can choose to play with Bitcoin (BTC), Bitcoin Cash (BCH) and Litecoin (LTC), it is imperative that transactions are not only more cost-effective and convenient but also safer and with a high level of privacy. Despite the rise in Bitcoin gambling, there are still those who are weary about cryptocurrencies. Crypto Thrills, as well as other cryptocurrency online casinos, includes on their websites the advantages of cryptocurrency gambling over casinos that support traditional methods of payment.
Take a look at the top seven benefits below to understand why cryptocurrency is a fantastic payment method for online casinos and sports gambling sites.
Top 7 advantages of using cryptocurrency as a payment method
Players are tired of waiting for cash transactions to be processed or checks to clear. Depositing and cashing-in at a Bitcoin casino is easy and hassle-free. At Crypto Thrills online casino for example, transactions occur almost instantly, regardless of where you are in the world.
One of the key attributing factors, in the rise of Bitcoin gambling is the peace of mind of safe and secure transactions. The players cryptocurrency wallet is well secured, and funds cannot be fraudulently accessed without a password. At Bitcoin casinos, and we tested this out at Crypto Thrills, you never have to share your credit card details or banking information with anyone which means that your personal information is always safe.
With Bitcoin gambling, there are ZERO transactional fees for bank wire transactions or cashing checks as there are with traditional online casinos. Gambling at a Bitcoin casino or other cryptocurrency casinos also means that there are no added costs in the form of taxes or fees. This can have considerable impact on your winnings. Because Bitcoin casinos are also not regulated by any financial institution, making transactions are either cheaper or free. If there are fees involved, they will be so low that it will probably go unnoticed. The low fees will most likely go toward the maintenance of the Blockchain’s operation.
Apart from Bitcoin transactions being incredibly fast, Bitcoin transactions can take place anywhere in the world where there is an internet connection.
This as a huge advantage, especially in countries were there is a restriction on online gambling. With Bitcoin and other cryptocurrency casinos, it means that players never have to worry about a transaction being declined by banks or third-party financial service providers. The best part is, with Bitcoin casinos, players have full access to their winnings and can deposit/withdraw winnings from their accounts, from anywhere in the world.
At a Bitcoin casino you get to enjoy a completely discreet gaming experience. Transactions won’t show up on your credit card or banking statements, because no personal information is attached to your Bitcoin wallet, meaning that your privacy is guaranteed. Due to the decentralized nature of the currency this also means that no-one can access your Bitcoins or freeze your account. Your cryptocurrency belongs to you and you control your own transactions.
There are cases where traditional casinos have come under the spotlight for concealing information from the player or using jargon to confuse the player or obscure information from the player. More often than not, the players are unaware of these tactics and continue to gamble and lose without knowing the reason for their losses. With Bitcoin casinos, transactions are transparent to protect the player and eradicate any unscrupulous dealings.
7. Bigger Bonuses
And because the whole point of gambling is to win big and take part in massive promotions, the bonuses offered at cryptocurrency casinos are much bigger than those offered at traditional casinos. Most traditional casinos offer a 100% match bonus up to a few hundred dollars or, at most, a thousand dollars to new players. A new player bonus at a Bitcoin casino can often offer a 100% bonus up to 1 BTC and there are some that go up to 5 BTC. Some of the best Bitcoin bonuses can be found at Crypto Thrills with monthly payback and reload bonuses, as well as free spins bonuses.
Playing at a Bitcoin casino, in a nutshell means that you never have to worry about the pitfalls of gambling at traditional online fiat casinos. They are safer, more accessible and definitely more convenient than traditional online casinos. Players playing at cryptocurrency casinos have the assurance that their transactions are safe, private and more cost-effective than compared to their traditional counterparts. While Bitcoin’s value fluctuates at rates higher than that of traditional currency, the winnings when playing at a Bitcoin casino, however, are substantially higher than those at a traditional casino.
We hope that after reading this article you see the advantages of playing at a cryptocurrency casino and take the step toward a simpler, better and more secure solution for your gambling needs.