Why Is It Better to Play Slots Using Cryptocurrency?

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Cryptocurrency is a huge trend nowadays; and no matter what the bankers say, it’s a pretty convenient online payment method! You don’t need a card or a bank account to use them. You don’t pay commission, and your transactions are unlimited and instant. Hell, you don’t need anything except a stable Internet connection. You can turn your computer into just another branch of Las Vegas! While most USA online slots are still being played for real money, crypto casinos are skyrocketing in popularity. So, why are so many experienced gamblers trusting Bitcoin to manage their huge financial gains? Are there any significant drawbacks? Read on to find out everything you want to know before becoming a crypto-gambler!

The essential thing to remember about cryptocurrencies is that there are just so many of them now, and there will certainly be more and more as time goes on! You can pick the one you like from our top 10 list: because if it is already on that list, it is successful. Now in case you didn’t know, blockchain technology means that a currency is guaranteed by its users, who harness the computing power of their devices to mine and maintain it. By picking a cryptocurrency and using it, you’re only making it more stable, thereby making your deposits more secure.

Meanwhile, many gamblers across the world are still wondering: is it secure enough to play crypto slots? Let’s look at this question a bit more closely. First and foremost, what types of cryptocurrency casinos are there? The answer is simple. Let us introduce you to a few major types of such casinos in the online world at the moment:

• Hybrid casinos. They accept cryptocurrencies as one of their depositing/withdrawal methods; along with traditional ones, like direct bank wire transactions and e-wallets.
• Crypto-only casinos. Such casinos accept cryptocurrencies only as depositing methods. However, other withdrawal methods may apply as well.
• Game providers. These casinos offer their own in-house software and games, while also accepting cryptocurrency only for depositing and withdrawal.

Now let’s find out what advantages cryptocurrencies offer to online players, and why it’s better to play slot games with digital currencies.

Advantages of Cryptocurrency

As crypto technologies improve over time, cryptocurrencies are becoming an integral part of people’s lives; offering them such benefits as fast transactions, Internet of Value, and safety, to name but a few! But when it comes to slot players, there are also some special reasons why Bitcoin, Litecoin, Ethereum, and other blockchain currencies may be of advantage to you.

• Blockchain-based currencies are entirely anonymous. When you sign up for a regular online gambling venue, you’re asked to provide everything but your shoe size: your real address, postal code, phone number, name, credit card number, and so on! You are required to ensure your payments are secure so that nobody else can log into your account and withdraw your winnings. Well, with cryptocurrencies, you only need to provide the number of your wallet!
• Crypto transactions are fast, and sometimes even instantaneous. For example, a withdrawal via bank transfer from a regular online casino takes 3-5 business days, and an e-wallet transaction takes a few hours; if you’re lucky, that is! Because if you’re not, it will actually take up to three days. And all this time, the player will be waiting and try to guess whether or not they will see any payment at all. With BTC, for example, you will get your payment as soon as the staff processes it.
• Crypto casinos are available worldwide. You can play from anywhere; so if gambling is forbidden in your country, blockchain technology will help you out!
• Cryptocurrency fees are considerably lower than in other payment systems; so if you don’t command third-party services, your fees will be really low! It’s not just about BTC nowadays; but other currencies still maintain an extremely low fee level.
• There are no transaction limits. At all! Huge transactions might take a bit more time though; since for safety reasons, they do since have to be manually processed. In the case of Bitcoin, this costs 5 BTC or more, which equates to more than $30,000 at the time of writing!
• Provably fair slots. This is an exclusive advantage of crypto casinos, who do make it possible for you to verify the result of any spin you make. To put it simply: let’s say that before you make a spin, you can attach a specific number to it. This a kind of a fingerprint that is then encoded and attached to a spin. You can later check the result of the spin and see that it was truly random and wasn’t altered by the house. Look for Provably Fair mark on the crypto slots website to make sure that it’s perfectly legitimate (although, it ‘s always possible the website you’re using may not be licensed: make sure to check!)

If you’re not still a novice to online gambling, you can see that these are all some pretty substantial advantages. How else can you get proof of a slot’s fairness, other than by checking its code? Where can you get instant withdrawals without substantial fees? Where can you play casino games without maximum withdrawal amounts? The answer is: nowhere! Anyway, blockchain networks are really beneficial for players; and not only them but for business owners too! So, let’s find out what these advantages are.

Advantages of Blockchain Technology for Online Casinos

If blockchain technology is beneficial for a regular player, for an online casino it’s also the way to skyrocket their revenue! It’s hard to even imagine how many expenses a gambling business owner can avoid by using digital currency. So here are some examples of blockchain casino benefits.

• The most important reason for a new casino to get a gambling license is that it has to have decent banking methods. Reputable banks and payment systems won’t work with an unlicensed casino, and so they have to get licensed. And gambling licenses are pretty expensive, we have to say. Imagine what great deposit bonuses you could’ve had if all these gaming venues weren’t paying annually for their licenses! But with digital currencies, it’s not important at all. You can create a Bitcoin casino and pay out all the winnings manually.
• No security expenses. Bitcoin is a secure system as it is, and you don’t have to take any additional measures. While regular online casinos spend thousands of dollars to protect their databases from hackers, digital currency casinos don’t need to worry about measures like these.
• Fast and easy withdrawals. This is not about saving money directly; but you’ve got to, admit it’s more pleasant to play with instant payouts! And in the case of a blockchain casino, the transaction fees are negligible, which equals another great possibility to save money.
• Bitcoin and its analogs make it possible to welcome customers from all over the world into your blockchain casino. You can definitely expect more profits if you offer your services to the whole world; rather than to a single country, or even a few of them!

This is not a full list of advantages, of course, as a lot depends upon particular currencies. Some of them offer lower fees, while others opt for faster transactions times; but even the real bottom-feeders of this niche are still better than regular payment systems. Gambling with Monero, for example, would be different from gambling with LiteCoin or Bitcoin Cash. So it’s up to each individual player to define their criteria and choose the most suitable crypto for them!

Drawbacks of Cryptocurrency

We cannot say that Bitcoin blockchain technology is a universal remedy. It has its flaws, and for some players, these might well appear quite significant. We still believe that the advantages outweigh the drawbacks; but nonetheless, you should still be aware of those drawbacks.

• There are not many reliable cryptocurrency-only sites. Many sites accept cryptocurrencies as an option alongside other banking methods; but even there, you will still have to fill out your personal info. Cyber attacks are a real threat for you;  because if a casino gets hacked, no one will ever find out where your money went! Luckily, such cases are rare; but then again, cryptocurrency is not a bank! So if you’ve lost a password from your wallet, no one will be able to restore your balance.
• Volatility is a huge issue. As you may have seen, casinos don’t change their exchange rates in real time. So if your preferred currency goes up while your balance is in play at a casino, and it’s exchanged to USD, for example, it’s not subject to any interest whatsoever. That’s why it’s better to play at cryptocurrency-only casinos: they don’t exchange your coins to another currency!
• Some crypto casinos don’t have licenses. If you want to use a popular payment system in your casino, you have to get a gambling license; because no operator will work with an illegal gambling venue. With coins, a casino can send funds to its customers directly, and so it doesn’t require a license. This might be a problem since licensing bodies usually function as the ultimate authority in disputes between casinos and players.

Most of these disadvantages will disappear in the coming years with the further development and growth of blockchain technology. More casinos will open, and maybe we’ll see a separate licensing body for crypto gambling and related projects as well! It might be called something like “Satoshi Nakamoto Gambling Commission,” and it will become a central authority in Bitcoin gambling. It will be a great relief to gamble legally with cryptocurrencies!

Cryptocurrency Is the Future of Gambling

The future is now, and we’re living in it! Blockchain technology lets us convert the computing power of our devices into money, and then use it to pay for anything. Online gambling is merely the beginning, but it does show us that the system works.

Some cryptocurrency casinos have even achieved top ranks at reputable watchdog portals, which is a good sign for the industry in general. This trend proves that gamblers are beginning to trust crypto casinos more than USA online slots for real money. So, don’t hesitate to try the advantages of Bitcoin gambling while playing your favorite online games; be it Vegas online slots, Christmas-themed slot machines, or whatever you choose to turn your hand to!