Just a few years ago, cryptocurrencies were something that only people in certain areas of the internet knew about. Most of the attention from mainstream media was negative. However, the many great qualities of cryptocurrencies have started to become more publicized over the past few years.
Now there are large portions of the population who own cryptocurrencies or know about their benefits. As time goes on, the number of people using cryptocurrencies will only expand.
One sector that has been embracing cryptocurrencies in a major way is the online gambling sector. There have been many casino sites set up that solely support cryptocurrency payments, extolling the main benefits of these payment options.
Many of the long-running platforms have also started to support cryptocurrencies as a form of payment. This article will look at the extent to which online gambling sites are embracing cryptocurrencies.
What are Crypto Casinos?
Crypto casinos are those platforms that have been set up with the intention of only allowing cryptocurrencies to be used. This means that you won’t be able to use traditional types of payment methods like debit cards, bank transfers, and e-wallets in a lot of cases.
There will be varying levels of crypto casinos. Some will be very hardcore and have everything focused as much as possible on privacy and not dealing with fiat currencies whatsoever.
Then there are those platforms that are not as extreme and will have a blend of traditional types of online casinos and crypto casinos. There are a few different ways that crypto casinos differentiate themselves from regular casino sites, which we will shortly explore.
One of the more straightforward benefits associated with crypto casinos is the extremely easy signup process. Some of these types of platforms will only require you to set up a username and password, without asking for any sort of personal information. This is crypto casinos in their purest form – allowing for total privacy.
Then there will be other crypto casinos that will ask for some basic personal info, but the signup process still only takes a matter of seconds. This is ideal if you’re looking to get up and running as quickly as possible.
Fast, Safe, and Easy Transactions
One of the main benefits in general of using cryptocurrencies is that they are a fast, safe, and easy way to conduct transactions. To send funds, you just need the destination wallet address and then enter your key details. It’s as simple as that.
This means that your funds are going to reach your online casino account with no delay. Withdrawals are also extremely fast usually when using cryptocurrencies. As soon as the online casino has given you the all-clear to withdraw funds, it can ten often take just a few minutes before the cryptocurrency funds hit your destination wallet.
The only traditional type of online casino payment option that comes anywhere close to the same withdrawal speed will be e-wallets. As every crypto transaction is recorded on the blockchain, there will be a supreme level of safety involved.
You can also remain anonymous with your transactions, adding an extra layer of protection. If you are concerned that adding cryptocurrency to your online casino account will be very difficult, don’t be. The process couldn’t be much easier.
When you visit a crypto casino, you’ll often see that the bonuses on offer are often bigger and better than anything you’ve ever seen before. You’ll often get massive deposit bonuses, and the wagering requirements will often be more favorable than what you get with traditional types of online casinos.
This doesn’t just go for the welcome offers, existing users will also usually be treated to plenty of great benefits, such as cashback offers, reload bonuses and free spin deals.
Great Game Libraries
Another big advantage of crypto casinos is that their game libraries are often bigger and better than what you will get through typical online casinos. You’ll often have games coming for dozens of different developers and thousands of different options. Every thinkable game type will likely be covered.
Everything from slots, table games, jackpots, live dealer titles, and sports betting will often be covered through these offerings. There will even be some titles that are unique to crypto casinos, such as crypto dice. These dice games have become very popular and there are many different rule sets that will be in place for them.
International Acceptance and Anonymity
As time goes on, cryptocurrencies are becoming more acceptable. While some governments are very skeptical about them, others are happy for residents to use them to their heart’s desire.
Most crypto casinos will be very welcoming to people from across the world. Therefore, you will see very few countries being on the exclusion list for crypto casinos. Each individual user should be aware of what the specific laws are in their country to see if they can legally use the given crypto casinos. The rules differ from nation to nation, which is why it is worthwhile double-checking the situation.
While the pure crypto casinos will not ask for any verification documents, there will be some platforms that will at least ask you to go through a Know Your Customer (KYC) check. It usually entails providing some proof of ID and proof of address. Once the verification is approved, you can proceed with withdrawals.
An Exciting Time
It certainly is an exciting time for everyone in the online gambling and cryptocurrency spaces. A wave of change has been happening and it doesn’t look like slowing down any time soon. You can dive headfirst into the world of crypto casinos in a heartbeat, not breaking stride as you enjoy the many great benefits associated with these offerings.
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