Advantages of Using Cryptocurrencies

Online and mobile gambling are all about having fun and winning some money. However, applying those traditional payment methods can sometimes be kind of harsh on your pocket with sometimes massive transaction fees you have to pay, withdrawal pending times that can take several days and much more you come across when using fiat currencies as your preferred banking method. On the other hand, when you use virtual currencies such as Bitcoin, you avoid all that hassle, and you get to enjoy easy, fast, anonymous and secure transactions with payout times within several minutes of making your withdrawal request.

Thanks to all these advantages, it’s no wonder why players these days prefer to use cryptocurrencies to traditional payment methods. Following the rise of the blockchain technology and altcoins, there is a vast number of online gambling venues and mobile gambling platforms offer their player an opportunity to make fast and easy deposits and enjoy fast payouts. There are many other benefits of using Bitcoin and other alternative currencies when online and mobile gambling besides easy and fast payouts such as greater privacy, low fees, great bonuses and promotions, and greater value.

Greater Privacy

One of the most essential benefits of using digital currencies for online and mobile gaming is definitely the greater privacy level ensured both for online casino player and online casino operators. There are no third parties given access to your financial and personal information, so you get to enjoy a great level of anonymity when making transactions. In fact, privacy is the main thing Bitcoin was initially created to serve. Just like other virtual currencies working similar to Bitcoin, they are not regulated by any government or any financial system, so no jurisdiction has a power of altcoins.

Your personal and financial information is not accessible to anyone. In order to use cryptocurrencies for wagering online, you just need to provide the exact address or your digital currency wallet, and you are ready to play. Hackers today can easily steal your data from online casinos Therefore, you should definitely appreciate this great value of security you get with cryptocurrencies even more as this is the system keeping your money safe all the times. You can use a variety of physical wallets to store your cryptocurrencies in such as KeepPay, TREZOR, and Ledger Nano S

Very Low Transaction Fees

As already mentioned, another massive advantage of using cryptocurrencies for online and mobile gambling is low or none transaction fees. This differs from those traditional banking methods such as credit and debit cards that come with different chargeback issues and commonly high transaction fees. Besides keeping your transactions and personal details safe, crypto online casinos also offer fast and easy transactions with no fees involved.

It should be noted that all transactions made using virtual currencies are stored in a ledger named blockchain. This is a kind of public database all digital currencies operate on keeping track of all transactions ever made with their records. Therefore, even though there are no fees associated with transactions at the majority of digital currencies-powered gambling venues, when making a withdrawal request a small fee may be subtracted from your account prior to fund reaching you. However, these low fees are nothing in comparison to fees players pay when making withdrawals using fiat currencies.

Fast and Easy Transactions

Thanks to the decentralized platform, all cryptocurrency transactions are instant. Using fiat currencies commonly take several hours or even several days, using cryptocurrencies provide easy and fast transactions that take several minutes. Transactions are instant as there are no third-parties involved. This means that as soon as you mobile gambling platform or your chosen online casino venue authorize your request, your funds are on their way reaching your altcoin wallet. It should be noted that every digital currency transaction is carried as soon as the certain blockchain block finishes that transaction operation. This may take from ten minutes up to several hours which is way faster than when making transactions using fiat currencies.

Generous Bonuses and Promotions

One of the biggest advantages of using cryptocurrencies in online casinos are the massive bonuses & promos you get as soon as you join. Online casino venues that offer fiat currencies transactions commonly offer a 50%-100% match bonus up to several hundred dollars at very best. However, digital currencies- backed up mobile gambling platforms and online casinos almost always offer generous 100% match bonus up to 1BTC on your first deposit. Most commonly, there are more generous Welcome Bonuses and other regular promotions waiting for you on your following deposits. There are some venues and mobile gambling platforms offering lifetime reload bonuses and other regular promotions that include cashback bonuses, plenty of free spins or even tickets for some special events such as poker tournaments.

Greater Security and Greater Value

As already mentioned, when using cryptocurrencies as your banking method, most online casinos will not ask for your personal information expect your digital currency wallet address you have to link to your account. This means you get to enjoy a greater level of security as you do not share your personal information with your chosen venue. Another great benefit of using cryptocurrencies for mobile and online gambling is a greater value you gain.

Experts estimate that the cryptocurrency market led by Bitcoin will hit the $300 billion mark in market capitalization pretty soon. This puts it quite close to the market cap of major global corporations. This is a massive benefit for online gambling players as well. You should definitely keep an eye on cryptocurrencies’ price changes as this can be extremely important for your overall earning. Depending on when you withdraw your winnings, you can make hundreds or you can make ten times less.

Last update: 9. July, 2024