Crypto and Gambling: Why Some People Prefer to Gamble with Bitcoin

Crypto casinos are here to stay. Love or hate cryptocurrencies, it’s clear that they have entered all facets of society. They’re a clear winner for online gambling too, giving players certain advantages other payment methods can’t provide.

In the past few years, the number of crypto gambling sites has soared. More and more casino sites are joining the fray, and more and more players are becoming crypto converts. That’s not because it’s cool to play with crypto or soaking in the moment. Cryptocurrencies offer numerous gambling advantages that go beyond anonymity.

Why Are Cryptocurrencies So Popular at Online Casinos?

One of the first things that instantly hook players to crypto are the anonymous payments. Outside of certain prepaid vouchers, there’s nothing that comes close to the privacy crypto offers for gambling online. The best crypto casinos South Africa allow you to play fully anonymously. You can deposit at this casino with Bitcoin, Ethereum, Tether, and the likes, without sharing a shred of data.

Unlike fiat money payment methods, cryptocurrencies don’t need your bank account in order to work. You need a crypto wallet, which is easy to obtain as all major crypto exchanges have it for free. Once you do, you can move cryptocurrencies in and out of the casino as you see fit and completely anonymous. All crypto transactions are recorded on the blockchain. However, data such as your name or where you made your transaction won’t show up.

This is a major reason why some players prefer to gamble with Bitcoin. Gambling I s still a stigma in many parts of the world, and with online casinos, that stigma has been eliminated. Players can now freely play online under a pseudonym. In the past, their identity could still be revealed via their payments. But, that’s gone now too thanks to crypto which offers fully anonymous deposits and withdrawals.

Speed is What Everyone Needs

Another major reason why players are switching from fiat money to crypto for online gambling is the speed. Not that certain fiat money payment options weren’t speedy. Deposits with e-wallets or prepaid vouchers are reasonably fast. But, cryptocurrencies offer even faster transaction times, with an average completion of around a minute.

If you make a withdrawal with Bitcoin, for example, you won’t need to wait for days to receive your money. Unless the casino delays the process, there would be no obstacle for an instant withdrawal. The blockchain might need a few confirmations, but that doesn’t take long. Even with 2 or 3 passes, the coins will still be processed in up to 15 minutes.

Nothing’s that fast when it comes to online gambling withdrawals. If you use your bank account, background checks from your bank of choice can take days. Cards are a bit faster, but you still need to wait for 2-3 days for your withdrawal request to be processed. E-wallets are faster, but casino processing times may mess the whole thing up. If you’re looking for instant withdrawals, cryptocurrencies are the best option.

No Fees

When you use cryptocurrencies at online casinos, you will pay no fees. Well, technically, there will be tiny fees, but they don’t go to the casino. Crypto transaction fees are paid to the blockchain. They depend on the network you use. However, compared to possible bank transfer withdrawal fees, they’re negligible. Plus, casinos never charge fees on crypto transactions like e-wallets or other options might.

The blockchain fees depend on the amounts you deposit. You don’t need to worry about paying a big price for your crypto casino transactions. Keep your deposits average and you’ll forget all about it. The fact that you don’t need to pay casino fees is a big draw for players, as using some fiat money payment methods essentially proves too costly.

Global Accessibility

You know how you can’t use certain payment methods for online gambling in some countries? That’s not a problem with cryptocurrencies. They are globally available and accessible. As long as you have an Internet connection, you can buy and use them anywhere. This is especially beneficial for players from countries where some payment forms are hard to access.

It’s also beneficial as a way to bypass gambling legislation. With the help of crypto, you can play at offshore casino sites without limits. The government won’t be there to block your access to gambling transactions, and since you’re playing offshore, your tracks will be covered.

Cryptocurrencies are decentralized by nature and aren’t controlled by any government or financial authority. This is the reason why many players turn toward them. The decentralized nature means no governing bodies, no third parties, and eliminating the middle-man. This results in faster transactions with no fees and easy global access. It’s the type of future payment we have always dreamed of.

Innovation in Gaming

The online gambling industry is closely related to the tech industry. As technology moves forward, so does online gambling. That goes double with the blockchain, which has become a pillar for the future of online gaming.

The blockchain is a source of innovation in the online gaming industry. It’s already used to create provably fair games. These are crypto games that allow players to test the fairness themselves. Blockchain can also be used to innovate new types of games as well as gambling experiences.

Crypto games offer an entirely different experience than the ones we’re used to getting. Compared to traditional forms of payment, crypto gaming is far more innovative and unique, which is why players prefer this payment option.

Conclusion

As you can see, there are many great reasons why players choose crypto over fiat money payments for online gambling. Many simply jump on the crypto hype train like that, and then realize the benefits of playing with cryptocurrencies. They’re faster than any other option, anonymous, and easy to use, not to mention almost free and available everywhere.

The online gambling industry is going through a crypto evolution, and players can reap the benefits. With so many advantages crypto offers fiat money payments, we’re sure that this partnership will keep growing.