The blockchain continues to be a disruptive force in our online lives. But there’s one industry that is feeling the benefits of cryptocurrency more than others. And that’s online gambling. Savvy players are now making secure, fast payments using Ether or Bitcoin to fund their online casino gaming. But what exactly do these methods have over fiat currencies? Let’s take a look.
It’s 100% anonymous
By joining a standard online casino with no cryptocurrency payments, you are forced to sign up with your details. While these sites use an array of security technologies to secure your data, there’s always a chance something could go wrong. But when you choose to play with a site that specializes in cryptocurrency – there’s no need to hand over anything. All you have to do is link your wallet to the casino. That means you retain 100% anonymity.
Winnings are paid faster
Using a bank account for online gambling withdrawals can be a lengthy process. Your funds may be checked and reviewed by exterior financial teams, ultimately delaying the deposit into your account. There are no such exterior checks when you use a cryptocurrency like Ether to deposit. This means that you get your money faster – as long you’re using a cryptocurrency which hasn’t reached its transactional limit.
Your money is secure
Financial companies and casinos going bust are the stuff of nightmares. In a moment, your deposits and balance could blink out of existence if the business is facing hardships. When you use Ether or another cryptocurrency, you don’t need to worry about the safety of your funds. As long as they are stored in your wallet, your funds are safe.
There are no banking fees
When you deposit using Ether, there are no hidden transaction costs placed by a financial institution. Aside from paying “Gas”, depositing using the Ethereum network is free. With no middlemen taking a cut – you’re free to spend more on the casino games you love.
As you can see, there’s plenty of benefits using cryptocurrency over traditional fiat methods. While using standard banks may be somewhat easier to set up and more accessible, the benefits of using cryptocurrency warrant the more involved setup. Faster, more secure and 100% anonymous – it’s no wonder serious casino players are riding the blockchain for their iGaming fun.