Crypto casinos are any online casinos that accept cryptocurrencies as a payment method. Some online casinos will accept a crypto deposit but only allow games to be played using fiat currency, whereas others offer casino games that can be played using cryptocurrency.
There are many reasons why crypto casinos are proving popular among players, and we’re on a mission to highlight the top 3 reasons below.
Fair Gaming
The fundamental advantage of blockchain technology lying underneath cryptocurrencies is transparency. All the casino games you would play using cryptocurrency are verified by the blockchain ledger, which means they gotta be fair.
That is not to say that online casino games using fiat currency are unfair; most of them are fair and regulated by licensing authorities to ensure that is the case. However, a safe crypto casino is better because the whole process of the game is recorded, and that means any potential incidents can be checked.
Basically, the situation is black and white, and there is no fear you’d have to try to prove anything because all the information is recorded. Some online casino players have been forced to open a dispute with a casino because they believe a game has been played unfairly. This can go on for many months or even years, but when playing at a crypto casino, there is no worry about unfair gaming practices.
Speed of Transactions
One of the major reasons you can find crypto casinos appealing is the speed of making transactions. Many deposit methods are available today that are much faster than the old method of bank transfers. However, nothing beats the speed of a cryptocurrency transaction, and the funds can appear at the online casino in seconds.
One of the complaints many online gamblers have when using other transaction methods is the slow withdrawal speed after claiming a win. And that’s where crypto transactions shine in full light. Even the digital wallets of today cannot compete with cryptocurrency when it comes to making a deposit; the same applies to withdrawals.
You don’t need to wait when using cryptocurrency casinos because the withdrawals are almost instant, and the crypto will appear in the wallet without delay. It is also worth noting the lower fees associated with crypto transactions, which often beat the fees involved with other deposit methods.
Privacy
Another fundamental advantage of crypto casinos and blockchain technology, which is very popular among players, is privacy. If you’d not prefer your online casino gambling documented in bank transactions, you’re not alone. Many players are reluctant to make a payment at an online casino using a debit card because it appears in their bank transactions history, and there is no way to remove it from there.
Everyone should be open about how often they gamble online and how much they spend, but there are times when this is best left unknown. Applying for a mortgage is a good example, and a lending institution may choose to block your application if they see online casino deposits on bank statements.
Playing at crypto casinos means no record of playing online casino games on a bank account, and the entire process is anonymous. It is also worth noting because the process is conducted on the blockchain, everything is transparent. So, should there be any issues with the crypto casino, it will be easy to resolve.