The days of cringing when we thought about cryptocurrency are long gone. Blockchain currency was once employed for illegal transactions and activities on the Dark Web, but those times appear to be behind us now. Cryptocurrencies are becoming more and more common in our daily lives, and global regulation is catching up at the same rate.
We now use cryptocurrencies to gamble at online gambling sites. The UKGC, the UK’s main licensing and governing body, prohibits the usage of cryptocurrencies at its licensed sites. It may be a hard pill to swallow; however, if you want to use cryptocurrencies for your gambling, you need to visit, register and play at non Gamstop sites.
The UK’s stance on cryptocurrency usage
No specific law or regulation legalizes cryptocurrency usage across the United Kingdom, so no law dedicates that crypto cannot be used for everyday usage. Many people across the UK can freely use blockchain payments. Following the UK’s departure from the European Union, the country has issued guidance on the tax treatment of cryptocurrencies, but that is just about it.
In the world of gambling, things operate differently. You cannot accept cryptocurrency payments from your devoted gamers if you hold a UKGC gaming license since you must follow the regulations of the gambling establishment.
Why do people visit cryptocurrency gambling sites?
Many gamblers across the globe have set up their sites of non-UK gambling sites. The reasons for this are not limited to just being able to use cryptocurrencies, and the benefits of this go beyond just having access to cryptocurrency. The use of bitcoin is noticeable but not the top benefit of visiting cryptocurrency betting sites, which has more benefits than drawbacks.
Better Security and Player Safety – When visiting a traditional online gambling site, you are asked many questions. Giving much information, such as personal data and addresses, might be a headache, but UK gambling sites must gather those. You might be asked for the source of your funds and a utility bill to confirm your address link. Payment information is also a must at a classical gambling site, but not at a non-UK one. At a non-UK gamstop site, you will not be asked for such information; your identity is kept covert, especially if you are using crypto payments. With the Blockchain system, all your data will be broken down into small codes, thus adding more levels of security to your online identity and payments.
Faster Payment Methods – How often did you land a solid win and have to wait between 3-5 days to get your hands on your payments? This is the sad readily of a traditional casino. However, if you opt to play at a non-UK online sports betting site or crypto casino, you get your hands on your winning much quicker.
The truth is that traditional UK gambling sites cannot accept cryptocurrency payments from their customers, so alternate payment methods are available. You can use a standard credit card, a bank transfer (which can take up to 5 working days), or various e-wallets designed explicitly for gaming. The integration of numerous payment platforms slows down the website. The same is true for non-UK site deposits; you might win today and be able to use your winnings next week.
Faster payment transfers are one of the primary factors driving the growth of cryptocurrencies and player retention at online gaming companies outside the UK.
Game Exclusivity – It feels all the same when you visit a classical casino; the same games, vibe, and timescales. One site is a replica of the other, but game exclusivity has started picking up at gambling sites, where operators recognise punters’ need to find the holy grail. Punters visit gambling sites to play games, and game exclusivity is one of the traits that will keep gamblers coming for more.
Many non-UK sites have teamed up with gambling partners to bring you exclusive games only played on their respective platforms. Since non-UK crypto sites are not obliged to pay multiple payment integration fees, the extra funds can be spent on bringing excellent and exclusive gaming content to the gambling site. Faster payments and also game exclusivity. What else could you need more from your gambling site?
Lower or No transaction fees – At your traditional UK gambling sites, you have to wait longer for your withdrawals and might also need to pay fees to walk away with your winnings, whereas non-UK casino sites don’t include any transaction fees
Playing with cryptocurrencies is quite simple: you only need to head to the cashier/deposit section after registering and click the currency of your choice from the click-down menu. Finally, hit the deposit button to start playing using cryptocurrencies.
It is not hard to establish why gamblers prefer visiting and playing at non-UK gambling sites. The freedom of using cryptocurrencies to gamble is a lucrative perk that allows you to enter a new gambling world with no restrictions. Starting with not giving all your data is a plus, and safeguarding your info from getting into the wrong hands is paramount when playing online.
Transaction timescales also impact players massively and contribute to their playground choices. If we can get hold of your winning funds immediately, why wait 3-5 working days for that? Also, substantial wins could carry many transaction fees, funds that you could easily enjoy fully at a non-UK casino.
And finally, if you enjoy playing casino games, and you want to play with no restrictions, you should play at cryptocurrency casinos. No deposit limits, withdrawal limits and, peace of mind when playing, makes it truly worth it playing at Crypto gambling sites!