In recent years, cryptocurrency has become the new investment craze. Its development and relative mainstreaming have made it possible for new payment options to emerge, giving players a completely new way to spend their money. Along with providing an extra security layer, cryptocurrency allows players to convert their money into a separate form of currency, which is particularly important in online casino gaming.
Today, more and more casinos are accepting cryptocurrencies like bitcoin, litecoin, and ethereum as valid banking options. If you are just beginning your bitcoin gambling adventure, you are probably wondering what makes bitcoin casinos unique. Be sure to check out our list of the best crypto and bitcoin casinos at https://cryptowatchdogs.org/.
In this article, we are going to look at the special features of bitcoin casinos that are not found in regular online casinos.
#1. Decentralized Structure
One of the most unique features of crypto casinos is their decentralized structure. Bitcoin and other cryptocurrencies have no centralized transfer or a single point of banknotes issuance, which allows players to play online casino games even where gambling is restricted and forbidden. Along with that, the decentralized structure of cryptos lets players bet in the distributed blockchain, all without having to worry about connection failure with the primary domain or server.
Blockchain, which is the underlying technology behind cryptos, stores user information in an encrypted form, meaning they don’t require a lot of personal information. As such, players can engage in their gambling activities anonymously, which is an added advantage for players.
Along with that, the decentralized nature of crypto means they aren’t controlled by a particular government, which reduces the tax burden in certain counties. And since the price of crypto keeps going up, players can also take advantage of the capital gains to invest in other things.
#3. Provably Fair Games
Perhaps what makes crypto casinos truly unique are the provably fair games. Today, these casino games leverage blockchain technology to ensure that all the game results are random and fair. As a player, you can rest easy knowing that the outcomes are not rigged or interfered by human beings.
#4. Separate Bonus Offers
A hybrid casino that allows players to use both FIAT and cryptocurrency transactions usually offers separate bonuses for the two types of currencies. This may come in the form of a welcome bonus on the first few deposits, no deposit bonus, weekdays offers, weekend deals, and so on.
Along with that, strict crypto casinos also have a separate set of generous bonuses for both new and existing players.
#5. Immediate Processing of Payments
Players can conduct crypto transactions in two primary ways. First, they can directly send and receive money without going through third-party dealers. Secondly, they can process transactions through third-party dealers.
Third-party dealers include similar platforms like PayPal, Neteller, Skrill, and many others that use FIAT currency transactions. Direct crypto transactions, on the other hand, can be conducted through platforms like Electrum, Exodus, Jaxx, etc., which allow players to create an account and start transacting quickly.
Either way, these transactions are swift in terms of turnaround time due to greater network speeds and efficiencies, allowing players to deposit and cash out crypto from online casino accounts instantly.
#6. Low Fees
Along with crypto transactions being faster, the absence of third parties also means that the transaction fees are virtually non-existent. And in instances when they are there, they are significantly less compared to what’s available in the regular online casinos.
Cryptocurrency has continued to permeate the online gambling market, and very soon, it will become almost impossible to find a casino operator that doesn’t offer it as a payment method. Unlike the traditional real money online casinos that take hours or even days to process payments, transactions in crypto casinos are almost instant. This compounded by the secure nature of cryptos and the anonymity they offer makes cryptos the future of online gambling transactions.