It is considered that iGaming always suffers from insecurity problems and inconvenient methods for transactions. Cryptocurrencies have eased the situation by increasing the popularity of online gambling over the years. That is why many casino sites started to accept bitcoins, ethereum, litecoins, and other altcoins as payment methods in slots and other gambling games. After observing bitcoin online casinos on QYTO site, we must admit there is a variety of operators that provide high-quality gambling service to BTC users. In the article, we are going to explain how cryptocurrency and its technology influence online gambling.
iGaming feat Blockchain
The integration of blockchain technology in gambling caused many innovative transaction solutions. For example, due to the peer-to-peer nature of cryptocurrency, players can make safe and instant payments. Encrypted transactions are transparent that exclude the possibility of outcome manipulations. Moreover, cryptocurrency decreases the interference of third parties. This means dishonest operators cannot easily pocket players’ funds.
Nowadays, casinos with bitcoins conquer the market in Asia. This is explained by the ability to remain anonymous while making payments with BTC. As you know, for example, in Japan online gambling is illegal and the local authorities try to track and block players’ deposits. Thanks to cryptocurrency privacy requirements, Japanese gamblers can bet with bitcoins in online casinos and receive wins to their electronic wallet without any restrictions.
Why do Players Prefer Cryptocurrency for Gambling?
To determine the reasons why so many users want to pay with cryptocurrency, we must explain the details and ultimate features of bitcoin. Let’s figure out what pluses attract gamblers worldwide now:
- Decentralized System of Payments — in general, cryptocurrency has no regulating authority that could track payments and verify the identity of a user. That is why people trust this system and save their money from frauds. Of course, we do not exclude the possibility of scamming among players who want to steal money in a casino but that is another story.
- Fast Transactions — in comparison to payments with fiat money, bitcoin transactions are instant. When somebody waits for withdrawals to a bank account for a couple of days, users of cryptocurrency get their wins immediately on e-wallets.
- Extremely Low Fees — if you need to withdraw winnings in BTC, you have to pay tiny fees of several cents. Speaking about other payment methods, a player usually pays a couple of USD or other equivalents of currency.
- Bonuses for BTC Use — if a player starts to use bitcoins for depositing in a casino, there is a chance to get a bitcoin casino no deposit bonus as free spins or extra free satoshis. Sometimes such rewards are regular and customers keep claiming promotions to boost their wins twice.
- Faucets — several casinos provide free satoshis to help players understand how a slot works. To receive such faucets, a player has to complete an easy task on a site. This is very handy because some new players may not know the rules or some terminology to start playing a new game in a casino.
If you are choosing an appropriate place for gambling with cryptocurrency, the only thing that may help out is a bitcoin casino review. It usually contains explanations of such features as casino software, game categories, bonus policy, T&C understanding, support response. Due to such overviews, people can choose an operator more confidently and not be afraid of tricky situations connected with money balance or data safety.
To sum up, we can say that cryptocurrency and blockchain are integrated not only with gambling online but also the economy, education, finance, and many other crucial spheres of our lives. In other words, the future is in cryptocurrency and blockchain technologies.