Gambling online has dramatically changed the gambling industry with incredible accessibility and convenience. These platforms allow the players to play their favorite games sitting at home.
Many players now choose to fund their casino accounts with cryptocurrency wallets for the sake of providing security and ease of use. Blockchain technology has allowed to make quick, secure, and private transactions with digital wallets like Vegawallet.
Cryptocurrency is a safe way of payment at online casinos. In a tit for tat manner, crypto offers a superior protection compared to traditional options such as credit cards or bank transfers.
Cryptocurrency transactions are built on the blockchain and are tamper proof as there is no need to share wallets pins or private keys. Furthermore, vulnerabilities are reduced as there are no middlemen, like banks.
Because all transactions are recorded on a public ledger, blockchain greatly reduces the risk of financial fraud. By tracking withdrawals in real-time, players can be proved that casino is credible and trust in it.
In addition to, casinos can make use of smart contracts (automated agreements arranged on the blockchain) for smooth payments and bonuses execution.
Crypto payments are notoriously anonymous versus traditional methods. Your privacy is ensured by a crypto wallet that doesn’t store any personal information.
Unlike other transactions, blockchain transactions are not obvious but just how much they have. It would appeal to players who wish to maintain the discretion.
Using cryptocurrency typically has very little fees compared to how traditional payment methods go about charging, especially when a cross-border transfer is involved.
This means players receive a larger share of their winnings while not suffering large amounts in transaction fees. Moreover, in most jurisdictions, crypto earnings are not taxed at all or, at least, at a lower rate.
For example, Malta, Germany and Switzerland are all tax friendly for crypto users, luring high rollers as well as international players.
Cryptocurrency has no geographical boundaries. With crypto wallets anyone with internet access can set up and use for online gambling, no matter where you are.
It brings players in the restriction of gambling regions the possibility to play in offshore crypto casinos. Take, for example, people of Thailand or Texas can by pass local restrictions and go for international betting platforms with the use of a crypto wallet.
Crypto transactions are much faster than bank transfer or card payments. Transactions are done without the involvement of such intermediaries like banks; rather done directly in the blockchain.
This speeds up most crypto payments to within minutes, allowing players to deposit funds, or withdraw winnings, almost instantly in comparison to traditional methods that can take days.
Online casinos will offer bonuses to players who use crypto wallets. Deposit matches, cashback offers and free spins are included in these perks.
A great example is that a casino can offer 100% deposit match on traditional payment methods and then boost it to 120% on crypto deposits. This also helps casinos to provide higher withdrawal limits for crypto users without drawing a high fee for the operators.
Crypto payments give people in heavily regulated and restricted online gambling regions a workaround. The biggest advantage of using cryptocurrencies is that you can freely play in the online casinos without any kind of traditional financial regulation playing against you.
This freedom is for both players, who can try more options, and casinos, who can now tap previously offshore markets.
With a crypto wallet, your process of signing up and funding your casino account will become a walk in the park. Players can avoid lengthy verification processes in order to get started playing faster.
Higher satisfaction and player retention is often achieved in a seamless experience of depositing, playing, and withdrawing funds through crypto wallet.
One huge draw of cryptocurrencies is their decentralized nature. Transaction control is held by the players, who have no central authority, such as a bank, overwatching transactions.
Users are assured in their transactions as all payments are transparent, secure and are recorded on the blockchain.
Cryptocurrencies are optimized for online transactions, as such, they’re perfect for online casinos. For the digital Platforms, they provide unparalleled convenience, security and anonymity.
Crypto wallets eliminate the traditional verification processes, thus speeding up transaction and creating a better user experience.
