4 Good Reasons Why Crypto Gambling Is on the Rise
Unless you are new to the tech world, you’ve probably used or interacted with Bitcoin or other cryptocurrencies. The potential for cryptocurrencies continues expanding, with online casinos and gambling sites adopting them.
Consequently, crypto-gambling is on the rise, and of course, for various reasons, including its ease of use, unmatched privacy, and low fees. Continue reading for more details on this.
Unmatched Security
It is common for casino players to consider bonuses, such as free spins, when searching for a gambling platform. But it is also crucial to prioritize the ease of placing bets and the security of your payments. Crypto coins, like Bitcoin, are undoubtedly the most secure digital currencies out there.
Unlike credit cards and PayPal, cryptocurrencies don’t store your private information. And with the decentralized nature of blockchain technology, your coins and data will be safe from hacking and manipulation attempts.
Improved Privacy
Gambling is undoubtedly legal in most countries. However, participating in it comes with a lot of social stigma. Society treats those who gamble differently, as they are considered to have unsavoury character, immoral, or presumed as addicts.
Now more gamblers are looking for a perfect way to wager without worrying about their identity being revealed, something crypto gambling has managed to achieve. Some of these sites won't even ask for additional personal information beyond a username and a password. No address, no banking information, and this mean complete anonymity.
Cost-Effective
As a gambler, you are looking for ways to reduce expenses while increasing your profits. But you cannot count on credit cards for this—they charge hefty transaction fees, especially when making payments to online gambling sites. Such hefty service fees can reduce your profits.
On the other hand, cryptocurrencies charge small fees compared to other payment providers. Cryptocurrencies are cost-effective for both gamblers and the gambling providers. Gamblers remain with most of their winnings after withdrawing, while casino sites avoid credit card fees when players fund their accounts.
Instant Payments
If you haven't used Bitcoin or crypto payments before, you will be surprised by the instant nature of these payments. Despite recently reported transaction delays occasioned by block size issues, crypto payments have remained surprisingly fast. Approved transactions reflect within minutes, with the longest taking a few hours. It is very rare for Bitcoin transactions to take days before confirming.
On the other hand, bank transfers can take up to 5 days from initiation to completion. International transactions take even more days and, in some cases, weeks. Even worse, these transactions can be cancelled and returned to your bank if there's a system error on the last day.
The Bottom Line
Crypto-gambling is the future, and it all makes sense, especially for beginners or seasoned players looking for secure payment means or to maximize their winnings by reducing transaction costs. If you regularly play casinos, you should consider joining the realm of cryptocurrencies and digital currencies. You can open a crypto wallet and fund your account with a few easy steps. The good news is that nearly all online casinos today accept crypto payments.
- Aaron Goldstein, Gambling911.com
