Online casinos have grown significantly in the last decade — even in Hungary — and especially during the peak of the COVID-19 pandemic.
With people stuck at home with or without work, online casinos became a steady source of fun, action, and an opportunity for players to see if they can win some money.
While Bitcoin is far from the only crypto on the market, we will use the term “Bitcoin casino” to refer to any online casino that handles crypto transactions to keep it short.
There are many advantages to using crypto for your slots action online. In this article, we take a closer look at four of the most compelling reasons why Bitcoin casinos are going to continue to grow in popularity in the coming months.
With the recent popularity of cryptocurrencies, most notably Bitcoin and Dogecoin, many players have shown interest in joining an online casino that accepts crypto. Guest author Sultés Szilvia takes a look at the advantages of playing at a bitcoin-friendly casino in 2021. Learn more about Sultés Szilvia.
Anonymity
Even if you are totally transparent about your gambling transactions, you still don’t want to have your bank scrutinizing your personal transactions. With fiat options, there is always a chance that your bank can interfere with topping up or withdrawing from your casino accounts—leading to a ton of headaches on your side.
Bitcoin casinos avoid needing banks’ approval for your gambling by bypassing the fiat system entirely. Most Bitcoin casinos have very minimal verification requirements. Typically, you only need to show proof of your ownership of your crypto wallet.
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Safety
Online banking using fiat money is generally considered to be a safe option. However, it is not one hundred percent safe and when a breach does occur, the consequences can be dire, especially for players with a significant chunk of their roll parked online.
The chance of a hack occurring while using cryptocurrencies is significantly reduced and is one of the big reasons why you should think about using cryptocurrencies in online casinos. Since crypto transactions are inherently safeguarded from outside interference, it is literally impossible for anyone to get to your funds without direct access to your crypto wallet.
The only real chance hackers have of snagging your coins is if you get phished, which means getting you to provide access to your crypto wallet through trickery. It can be a bit scary the first time, but once you are a few transactions in, you will learn to avoid this issue entirely. If you like playing scratch card lottery online, you should consider playing with crypto.
Higher Betting Limits
Many licensed online casinos are prevented from offering max bets due to financial regulations. You can see the max bet size they specify in the terms and conditions. With Bitcoin casinos, however, such rules are out the window.
Because financial rules do not cover crypto transactions, you are free to game to your heart’s desire in Bitcoin casinos, depending on the size of the casino’s operations.
Although online casinos typically reward their VIP players with increased max bets, even the highest VIP tiers offered by fiat casinos can disappoint the highest of rollers. If you love to bet big, the biggest action you can get online will always be at a Bitcoin casino.
Speedier Transactions
Any gambler knows the trepidation that comes with waiting for your online casino winnings. No matter how many times you have cashed out successfully before, there’s always a bit of nervousness as you wait for your cash to show up in your account.
Bitcoin casinos do not eliminate this issue altogether, but they are the closest thing to instant as you can currently get. Compared to credit cards and bank transfers, a crypto transaction is super-fast and can be done in a minute instead of taking a few working days.
Crypto transactions are decentralized, which means there is no governing body to approve or disapprove your transfers. If fast cashout times are important to you, Bitcoin casinos are simply a much better choice over fiat casinos.
Conclusion
If you have never used cryptocurrencies to fund your online casino games, you should definitely think about doing so today and leveraging all the above advantages.
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