Guides & Analysis

Why Cryptocurrency is the Better Payment Option for Online Casino Players [Sponsored]

By June 4, 2019 No Comments

Since the dawn of the internet, more and more people have found custom entertainment options to enjoy in their spare time. From online video games to chat rooms and video content, there is a seemingly unlimited amount of activities to embrace as long as you have an internet-connected device.

For many, the notion of online video games is very appealing. While not everybody is suited for the more traditional MMORPG-style games, there are options for everybody. Online casinos, in particular, offer a simple, intuitive and fun way to pass the time while also being eligible to win both money and prizes.

As of late, more and more casinos are now offering the option to credit player accounts with deposits using cryptocurrency. This form of payment is unique and offers a variety of benefits both for casinos and casino players. As such, let’s take a look at why cryptocurrency is the best payment option for those enjoying online casino games.

 

Anonymous Transfers

One of the biggest concerns for those who play regularly on online casino sites is the ability to reduce their financial paper trails. This can be for a variety of reasons, such as keeping spending habits concealed from a spouse or temporarily avoiding more complicated tax returns. One great benefit of using cryptocurrency is the fact that these transfers cannot be seen in the same way as other payment methods.

For example, there’ll be no credit card statement showing how much you’ve spent – and on what. Likewise, those who may have recently won a large sum playing online casino games can cash out via cryptocurrency without having to immediately report this income. While legally there is a requirement to disclose all income, opting to cash in or out using cryptocurrency can temporarily delay this inevitability.

Likewise, using cryptocurrency can help protect your financial information when interacting with online casinos. If trust or security are concerns, then using cryptocurrency to make deposits and withdrawals – as opposed to your banking information – drastically reduces the chances of loss of funds or identity theft.

Additional Game Options

There is seemingly a countless number of online casinos, each of which offers dozens or even hundreds of online games. For many, the number of choices seems more than adequate – but sometimes a change of scenery or gaming style is desired. For years now, various lesser-known casinos and gambling sites have been offering unique games not found on most well-known platforms to those who use cryptocurrencies.

Many of these games directly interact with what is known as the blockchain, the system through which cryptocurrencies operate. This system can be inspected by all, but altered by nobody, making it an ideal, statistically-sound method on which to base a variety of unique online games. Blockchain-based games are becoming increasingly popular even on major casino sites – but generally, require cryptocurrency deposits in order to play.

Lower Fees

One of the more frustrating aspects of playing online casino games is the fact that you don’t get 100% of the money you deposit or withdraw in most cases. Whether you are trying to deposit money onto a debit card or transferring a large amount to a casino service, there is generally one or more service fee associated with the transaction.

With cryptocurrencies, this is generally not true. While some cryptocurrencies do transfer across networks where these fees are assessed, they are substantially lower than the fees charged to casinos by credit card and payment processors. The end result is that over time, you can save anywhere from 1-5% just on fees alone – a pretty good pay-out in and of itself.

Instant Transfers

When transferring money to or from your online casino accounts, there is generally a waiting period before the money shows up. In some cases, this can be as long as 1-3 business days: a huge buzz-kill when you’re wanting to play (or get paid) right now.

Fortunately, cryptocurrencies do not possess such a disadvantage. As soon as you execute a transaction, the currency shows up in the destination account – meaning you can begin playing games or transferring winnings that very second.

Potential Passive Gains

For those who may keep a floating balance in their online casino accounts, there’s another potential benefit to using cryptocurrency: the chance to increase your earnings without doing anything. While crypto markets, in general, are volatile – meaning they can change dramatically in value over short periods of time – the general rule is that cryptocurrencies increase in value over the medium-to-long term.

If you make a deposit via cryptocurrency and leave at least some of it in the casino account undisturbed for some time, then there’s a very good chance you could have a lot more cash the next time you decide to use it.

Regardless of your preferred playing method, there are a number of advantages and benefits to using cryptocurrencies as your payment method via online casinos. The above examples illustrate just how easy, quick and secure using this method can be, so why not give it a shot during your next online gambling session?