Technology has changed the way we bet. It has brought brick and mortar casinos to our fingertips. The next big leap is how we transact at our favourite online casinos. Cryptocurrency promises many benefits to punters; making it possible to bet big without having to share your identity or bank details, pay fixed mining fees on big transactions, and verify the casino’s edge through blockchain technology. Read on to know more.
Higher deposit bonus
Who does not love a free bonus on their first sign-up? Since the crypto casino scene is relatively new, it has become a hotbed of low-hanging welcome bonuses. Some casinos offer a straight up 400% cashback on a minimum deposit of just $10, so you can deposit 10 play with 50. Crypto-casinos offer deep pocket bonuses, sometimes without any wagering requirements so you can easily withdraw your wins. You can use the bonus cash to try out new exciting casino games, including live casino and esports.
Faster pay-outs
Crypto withdrawals are cheaper and faster. The processing time for crypto payments is considerably lower since the process is minimalistic. The transaction speed depends on the mining speed of the cryptocurrency, which ranges from a few minutes up to an hour. Payments usually show up on your crypto wallet as soon as it is confirmed by the blockchain. Compared to this, card payments and bank transfers may take 1-3 days, along with extra time for account verification.
Safe and Secure Transactions
A key concern for the punter is security and privacy. All blockchain transactions are recorded on a public ledger known as the blockchain. Thanks to blockchain technology, your crypto transactions and banking information are protected by the latest technology. This ensures that your fund transfers are transparent yet anonymous. Also, since there is no third-party involvement, your personal information will never be sold for marketing nor there will be any risk of hacking.
Anonymous Withdrawals
Many punters don’t want to reveal their identity while betting. Traditional withdrawal gateways make it mandatory for casinos to ask for players’ identities. However, crypto-based online casinos are mostly anonymous, meaning you don’t need to complete KYC for small value bets. Some anonymous crypto casinos give you the luxury to bet big without ever verifying your account.
Lower Transaction Fees
The transaction fees in crypto-casinos are as low as zero, a utopia we punters always wanted. Since there is no third-party involvement in your transaction, the payment gateway charge is reduced to just the mining fees. Crypto coins like Bitcoin or Ethereum have fixed mining charges that vary from time to time. On average, a crypto withdrawal may cost $2-4, while traditional gateways charge a hefty percentage. Understandably, punters would love to punt crypto over any other gateways.
Provably Fair Gaming
Blockchain technology enables us to create a fair gaming experience. A welcome change for punters who feel cheated at online casinos, probably fair gaming lets punters check their results through pre-recorded outcomes. If you are punting against a player, you can vet all the bets and claim refunds in case of cheating by the other player. When betting against a casino, you can check the software’s edge for fairness before placing your bets using the hash calculator.
