• Thu. Apr 25th, 2024

How are Cryptocurrencies Changing the Gambling Industry?

Bitcoin Casinos

Crypto Industry

Unless you’ve been living under a rock, you have some sort of opinion on cryptocurrencies and the blockchain in general. It’s impossible to stay indifferent to the huge changes to the online gambling world dictated by the rise of interest in cryptocurrencies.

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Some people just can’t get enough of the shiny crypto coins, and others enjoy the benefits of decentralization of transfers over the blockchain. Whichever type you are, you should like to hear these three major things your Bitcoin casino sites do better than the rest.

Great Welcome Bonuses

Bitcoin casino bonuses can really whet your appetite for online gambling. They take a central place in how crypto gambling is conducted. Imagine the value of a 5 BTC welcome package. It’s huge! This kind of offer adds a different dimension to the meaning of high-stakes bonuses.

No online operator will ever make you an offer that is even remotely close to 5 BTC worth of fiat currency. You can see how gambling with Bitcoin has its benefits not only on the security side of things but also when it comes to remuneration.

Maybe getting involved with crypto is a risk in and of itself because of the volatile nature of these currencies. This could be why the bonuses are so generous. Or maybe it is because gamblers with deep pockets are drawn to the limitless world of crypto casinos. Either way, the fact is that traditional online casinos’ welcome bonuses pale in comparison to what the BTC gambling sites have on offer.

Better-Than-Before Cash Outs

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Not only does Bitcoin have a super safe architecture thanks to the advanced encryption that is at work, but it’s also super convenient for fast withdrawals. You still must wait for the confirmations that enable such a withdrawal. However, we are talking about same-day withdrawals, typically within an hour. What crypto casinos have done to change how we gamble online is that you don’t need the approval of a third party like your bank to pay with cryptocurrencies.

Crypto withdrawals are also impossible to track for the taxman, which is great if this is your goal. The same goes for government regulations. Bear in mind that government regulations are as much of a thorn in the side as they are a means of protection for the masses, so compliance is advisable. But let’s not deviate too much from the main point. The fact of the matter is that withdrawals are fast, effortless, and don’t require verification checks.

Many Different Transaction Channels

To gamble with crypto, you don’t need to do hours of research or spend hours creating a wallet. Firstly, the best casino sites of this kind support many popular cryptocurrencies so that you can choose between Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and the like. If there’s nothing that rings a bell, you can still set up a wallet relatively quickly. It’s highly unlikely that a well-appointed crypto casino site won’t accept your preferred cryptocurrency.

Some of the best altcoins such as Dog Coin, Cardano, and Monero are an option on the better gambling platforms. This is a big upgrade from when you almost had no choice but to give your debit card if you wanted to gamble online.

Things Are Changing Fast for Gamblers

Long gone are the days when banks and taxes were sucking out all the joy from withdrawing casino winnings. At crypto casinos, the wait time is much shorter, and the taxes are minuscule in comparison to what banks charge you. If that’s not enough, throw provably fair games into the bargain. Bitcoin casinos are all that and a bit more, as you will find out if you have time to do the digging.

One more thing that plays in favor of casinos specializing in cryptocurrency gambling is that they present you with a decent choice of methods you can transfer your money. That means you don’t have to settle for a suboptimal for your solution. Not that any of the popular cryptocurrencies can be called that, given that security and flexibility are pretty much why they exist in the first place.

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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.