Recently, cryptocurrencies have significantly increased in popularity, especially among online casinos. These online betting platforms allow users from across the globe to use digital coins such as Bitcoin, Litecoin, Ethereum and many more.
Even though the fiat online casino market is still the largest in the online gambling sphere, a considerable portion of online players are turning towards these new types of casinos. In this article, we will explore why the popularity of crypto casinos is increasing and why you might want to get in on this new trend.
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Anonymity and Security
One of the biggest attractions of crypto casinos is that bettors have a certain level of security and anonymity. Players must provide personal information at most online casinos, such as their names, addresses and payment details, whereas crypto casinos use peer-to-peer technology. The result is that users can deposit and withdraw money without giving any personally identifiable information. For players with concerns about privacy and security, this is especially attractive.
Since cryptocurrency is verified through blockchain technology, these transactions are more secure. Blockchain technology is decentralised and comes with transparency that regular fiat and bank transactions do not possess, limiting the chances of fraud and hacking. Since players’ funds are more protected, it gives many bettors an increased sense of privacy and security.
Faster Deposits and Withdrawals
Another primary reason players choose crypto currency casinos is the speed at which withdrawals and deposits are processed. The more traditional casino sometimes require players to wait days for their transactions to be processed. However, transactions can be processed at a crypto casino within just a few minutes. The speed of these transactions is down to the fact that no intermediaries are needed to process transactions, freeing you from dealing with banks.
Additionally, crypto casinos often require much lower minimum withdrawal or deposit amounts than conventional casinos, which makes them more appealing to bettors with smaller bankrolls.
Provably Fair Gaming
A massive advantage that crypto casinos hold over more traditional casinos is that they use provably fair gaming technology, which allows players to check whether a game is fair. In addition, players can use cryptographic algorithms to verify each game’s outcome to ensure that they are random and without bias. The result is that it gives players a greater sense of trust in the platform.
In the online gambling sphere, players often have concerns about games’ fairness, making this a rather significant benefit.
Fewer Restrictions
Because crypto casinos operate in a sphere separate from the more traditional banking system, they often have fewer restrictions on how they operate. For example, this allows players to join foreign online casinos (Arzemju Kazino) for Latvian players, giving them access to some of the best games and promotions. The result is that players can access these casinos from anywhere in the world, subject to them having an internet connection.
Furthermore, cryptocurrency transactions allow players to process more significant amounts of money than they would be able to if they used traditional payment options. As such, cryptocurrencies remove the additional levels of scrutiny that traditional banking methods require.
Conclusion
In closing, there are many reasons that players are moving towards cryptocurrency-based casinos. These new types of online casinos are giving players a much greater level of anonymity and security and access to faster transactions, provably fair gaming and fewer restrictions.
As more players wake up to the increasing popularity of crypto casinos, it is more than likely that their popularity will increase exponentially. So next time you look for a new casino, look at a crypto casino.
Simon has held senior content leadership positions at online casinos and sportsbooks for 20+ years. He leads a team of quality writers who produced trusted and authoritative iGaming content for casinos, sportsbooks, poker and bingo sites. Simon is Managing Director of Magic Word Media.
