Advantages of Bitcoin Gambling
Undoubtedly, crypto gambling is the hottest casino industry trend. Although many countries still do not treat them as legal tender, cryptocurrencies are becoming more popular. A variety of well-established, trustworthy digital assets is easily accessible to the masses via different means. For instance, crypto ATMs are constantly growing in number worldwide. The market has witnessed the rise of quite a few trusted and reliable cryptocurrency exchanges, too.
It is a well-known fact that the online gambling industry was among the first to adopt crypto and the blockchain. Many online casinos nowadays offer exclusive payments with digital coins. Others combine fiat currencies and cryptocurrencies. However, what are the advantages of crypto gambling, and why an online casino would offer digital asset payments?
The benefits of gambling online with crypto are several. To begin with, cryptocurrency payments are highly secure. The reason lies in the consensus-based decentralized nature of the blockchain. The latter is the underlying technology most digital assets use. It allows for complete transparency and traceability of payment transactions.
Because of the blockchain’s characteristics, bitcoin gambling also allows complete privacy. Thus, your identity is fully encrypted and protected at all times. Last but not least, casino payments with crypto are extremely fast and low-cost. Often, they take just a couple of minutes. Besides, the lack of intermediaries reduces transaction costs.
Mobile Crypto Casinos
Mobile crypto casinos are the hype among players of all budgets and experience levels right now. The reason is that they offer many benefits, which are hard to find at regular casinos. To begin with, mobile bitcoin casinos are all about technology. This means that they are light and run smoothly on all types of devices, unlike some old-fashioned casino sites and apps.
Another great advantage of playing at a mobile crypto casino is that you can enjoy provably fair games. These gambling products are crypto gambling-exclusive. They solve the eternal problem of having doubts about whether the casino is cheating you. Provably fair technology allows you to check whether the results of a game you played are honest.
Among the other benefits of mobile crypto casinos is the high security. Many crypto casinos are built on the blockchain or use blockchain-based games and payment methods. This makes them more secure than regular gambling sites. Mobile crypto casinos also provide greater privacy and convenient, fast, and cheap payments.
Where to Buy Bitcoins for Online Casino
Buying Bitcoins and other cryptocurrencies for trading and investment is quite easy. The fastest way to do that is to visit an online crypto exchange. Currently, you can enjoy many excellent choices depending on which part of the world you reside in. After you buy your preferred digital assets, you need to store them in the so-called crypto wallets. They function much like regular eWallets, only they use crypto.
One great example of a crypto wallet is Coinspaid. It was established as far back as 2014 and has been among the pioneers in crypto exchange services. Nowadays, Coinspaid is a trusted e-wallet that allows you to receive, store, and send 15 cryptocurrencies across 5 blockchains.
Another way to buy cryptocurrency is to use physical crypto ATMs. These machines work like traditional ATMs. They allow you to use fiat currency to buy crypto. If you intend to gamble with digital assets, you should know that many online casino sites have in-house crypto exchanges, where you can purchase tokens.
Traditional Online Casinos vs Crypto Casinos
Traditional and Bitcoin casinos may seem way too different, but they also share some common characteristics. First and foremost, regardless of whether a gambling site uses fiat, crypto, or both, it needs to have a valid license from a recognized authority to operate. Unregulated online casinos are risky to play at, so we advise you to avoid them.
Another common trait is that both traditional and crypto casinos have game libraries stocked with gambling products like slots, live dealer and table releases, instant win games, bingo, Slingo, and more. They also offer a wide variety of welcome bonuses and regular player promotions.
However, how do traditional and crypto casinos differ? Here is a brief overview:
Traditional online casinos:
- Many games; Fairness is reliant upon the software provider’s reputation and RNG certification
- Welcome bonuses and promotions
- Variety of payment methods with different transaction speeds and withdrawal fees
- You have to share with the online casino some of your private information
Online bitcoin casinos:
- Many traditional games playable with digital coins, with a focus on crypto-specific provably fair games
- Bigger bonuses and promotions; ability to mine native coins
- Increased security thanks to the blockchain
- Faster and cheaper payments
- Extra privacy
- More relaxed KYC procedures