As far as online casinos go, the variety of games available to players is one of the key differentiators when compared to conventional brick and motor casinos. Further, the availability of a wide array of payment methods to customers is a factor that has exponentially increased the popularity of online casinos. A few years ago, only a few payment methods were available to online casino players, including e-wallets, e-banking, and card payment methods.
Today, more and more online casinos are embracing Bitcoin payment methods as one of their primary transaction methods. Some online casinos have, in fact, taken it a step further by offering Bitcoin payment methods that include alt-coins such as Litecoin, Ethereum, Ripple, and more. In this post, we are going to be looking into 3 of the most compelling reasons why Crypto Casinos are increasingly growing in popularity and why this trend may be here to stay.
1. Encrypted Payment Methods
This is arguably one of the most crucial reasons why best online crypto casinos are growing in popularity. As popular as gambling may be, society has retained a feeling of repugnance towards the act itself and more so towards those who participate in it. Things haven’t changed much since the ’90s when Michael Jordan was put in the spotlight and almost lost his endorsement deals for placing friendly wagers on golf games he would play with his buddies.
Crypto transactions are known for their privacy and encryption, and, naturally, so are Crypto transactions between players and Crypto Casinos. SSL (Secure Socket Layer) and End-to-End encryptions guarantee that no third party can access or abuse your financial information as a player; these types of encryption break your data into multiple undecipherable codes. With Crypto Casinos, you will only need to create an e-wallet that allows you the kind of privacy and speedy transactions that traditional transaction methods cannot guarantee.
Conventional payment methods demand the disclosure of your account details to the casinos while Crypto does not require such information for you to be able to participate. Apart from the social stigma that persists in all matters of gambling, this is equally important in a day and age when there are so many scams happening in the online casino realm.
2. Low Transaction Fees and Incredible Transfer Speed
Ask any online casino player what the biggest disadvantage is when it comes to playing and they will most likely reiterate that it’s the exorbitant transaction fees. Note that this, in most cases, is not the casino’s fault and they do not keep more money to themselves than they need to. These high fees are necessary because online casinos have to use third-party payment processing services such as banks, Skrill, PayPal, etc. that charge a commission for each transaction. These expenses can pile up quite fast, taking a significant amount of the player’s funds, especially if they play often.
Crypto Transfers offer users little to no transfer fees, which is great news for both online casino operators and their customers. The introduction of Crypto Payment methods in online casinos essentially saves everyone a lot of money by making third-party processors lose their relevance in the world of gambling.
Additionally, instead of having to wait for what may be hours for your deposit to be processed through traditional transfer methods, Crypto transfer methods allow you to start playing immediately after initiating your deposit. The same applies to withdrawals; with traditional transfer methods, you would probably have to wait more than a day for your winnings to reflect in your account but Crypto transfer methods allow you to access your winnings almost instantly.
The good news is that Mastercard, Visa, and other conventional banking institutions are now considering Crypto to back their transactions, which will considerably increase their processing speeds. It is therefore possible that every online transaction in the future will be made using Cryptocurrency.
3. Special Bonuses for Deposits
As an incentive, Crypto Casinos offer their players bonuses to encourage the use of Crypto transfer methods. The deposit bonuses in Crypto Casinos are much more significant than those offered by regular online casinos because Crypto Casinos understand that the use of Crypto transfer methods saves everyone money. Another reason for this is that the Crypto market is quite volatile and you could make more money simply because the price went up as you were playing.
Take this for example, if you deposit 0.04 Bitcoin and you happen to win double of what you deposited you will have 0.08 Bitcoin. If the fiat price was $1500 when you deposited the Bitcoin and the market value of Bitcoin goes up 50%, you will essentially have $2250 when you cash in. Therefore, not only do you get a bonus for making a Crypto deposit, the very nature and volatility of the Crypto world makes it possible for you to make much more money on top of your winnings.
It’s important to note, however, the same logic applies if the market value of the Cryptocurrency drops while you are playing. Nonetheless, in such an instance, you could simply choose to wait until the price recovers to a level you are comfortable with before withdrawing the Crypto from your wallet.
Final Thought
Virtual currencies are currently not hampered by a lot of regulation and for this reason, so long as the Crypto Casino you are thinking of playing in is licensed, your funds are safe. All you need to do is create a Crypto wallet and deposit currency into it and you are good to do.
In addition to the safety of your funds, Crypto Casinos also offer an unmatched level of privacy; you can rest assured that all your confidential information and data will never be compromised, regular concern players have to deal with when playing in brick and motor casinos as well as ordinary online casinos.
Also, with prompt transfers and bonus incentives, we say you have a lot more to gain than you have to lose when playing in Crypto Casinos compared to any other platform. So there you have it, these are our top 3 reasons why Crypto Casinos have been growing rapidly in popularity lately. What other reasons can you think of?