Crypto casino: the secret of popularity
The crypto industry is actively developing, and every year the number of crypto enthusiasts is snowballing. As a result, many other industries have begun implementing blockchain technologies in their work, which has many advantages. Today, crypto casinos are top-rated because there is substantial public demand for the ability to pay for various services with such assets. Today we want to understand why this is happening and the benefits for users and the casino itself.
Benefits of using a crypto casino for users
More and more users worldwide seek to use cryptocurrencies for gambling and sports betting. On the one hand, this is just a popular trend since cryptocurrencies are prevalent today. However, this has several practical advantages:
- Allows you to bypass government regulation;
- Allows you to work anonymously;
- Accelerates the withdrawal of money;
- Reduces the cost of the commission;
- Increased security.
Each of these aspects is of considerable importance.
Bypass government regulation
Today there are regions where gambling and sports betting are banned. However, residents of these countries are finding ways to get around the regulation. So, if the casino does not accept payments from your region using traditional payment methods, then cryptocurrencies come to the rescue. There are no such restrictions for them, and you can make transactions from any corner of the world where there is the Internet.
Many users want to play anonymously; however, licensed casinos must comply with the KYC policy. So, they ask their clients to provide documents confirming their identity and place of residence.
However, many crypto casinos are willing to make an exception for customers who want to use cryptocurrencies. It is also worth mentioning that many payment systems, especially banks, check the details very carefully to ensure that the bank card has not been stolen; therefore, they require personal data from the client. It is not the case with cryptocurrencies.
Speeds up withdrawals
The speed of withdrawing money in regular casinos depends on your chosen payment system. So, money on bank cards sometimes comes within a week. It is not the case with cryptocurrencies. Cash gets to your crypto wallet instantly.
Reduces commission cost
Usually, payment systems take a certain percentage of the amount you want to withdraw. Sometimes this can be as much as 5% of the winnings, which is quite a lot if you hit the jackpot. The system charges a fixed fee regardless of the transfer amount if you use cryptocurrencies. Usually, it is only a few dollars.
Transactions performed on the blockchain cannot be intercepted, which allows you to protect the withdrawal of money from your account as much as possible. In addition, many casinos are subject to hacker attacks to withdraw users’ money and find their personal information. If you use cryptocurrencies, then scammers have no chance to harm you.
Benefits of using cryptocurrencies for casinos
The use of cryptocurrencies is also of great importance for online casinos, as it allows:
- Attract new clients;
- No chargebacks;
- Allows the use of new technologies to improve the level of protection;
- An easy way to obtain a license;
- Economic efficiency.
Let’s look at each of these aspects in a little more detail.
The attraction of new clients
Crypto enthusiasts have long appreciated the benefits of paying for goods and services using cryptocurrencies, so they want to replenish casino deposits in this currency. Crypto casinos attract the attention of many miners, traders,NFT creators, and everyone involved in this industry.
Quite often, casinos face a problem when a user withdraws money to a bank card and then claims to have lost it. As a result, the casino is forced to pay the player the same amount again, but to another payment system. Thus, the casino must pay the player the winnings twice. Of course, the casino tries to return the stolen money, but often this does not work.
If the client uses cryptocurrencies, there are no such problems. No chargebacks are possible here.
To make payments in cryptocurrency, the casino must connect to the blockchain. This technology dramatically benefits the system as a whole, as it structures all data as much as possible, helps prevent fraud inside the system, and much more. Today, every industry finds the benefits of using cryptocurrencies for their business, and casinos are no exception.
The presence of crypto technologies does not cause a license denial. Jurisdictions such as Malta, Curacao, and the Isle of Man issue licenses to clubs that accept cryptocurrencies and give them favorable terms of cooperation without any problems.
Using cryptocurrency allows you to increase the financial efficiency of the platform. It is due not only to the fact that transaction fees are minimal here but also to the fact that the casino can receive additional profit from changes in the exchange rate.
Best crypto casinos
Today, there are a large number of clubs that have already managed to appreciate all the benefits of using cryptocurrencies. Among the most famous of them are:
- Bit Starz;
- PariMatch and many others.
Each of these gaming clubs provides different conditions for cooperation. Learn more about these platforms at https://ordb.org/. ORDB collects all the necessary information about crypto casinos and reviews. It tries to register and play on them to form honest opinions and provide the most up-to-date information. This platform will be the perfect assistant if you want to know more about gambling.
In the end
Nothing is surprising in the fact that more and more casinos today are starting to accept cryptocurrencies. It has a large number of advantages both for the club itself and for users. However, to evaluate them honestly, you should try one of the above casinos.