When it comes to online casinos, the choice in terms of game selection is one of the key differentiators for customers. Another important component which can be termed equally important is the availability of different payment methods. Unlike a couple of years back when there exist only a handful of payment methods including the e-banking, e-wallets, and card payment method, today we are witnessing more and more casinos are offering Bitcoin payment option as their primary method of transaction. Some casinos have gone one step further and now have started the option of offering other altcoins also like Ethereum, Ripple, and Litecoin, among others. We list several advantages that are making digital coins popular among online casinos and tell you why this trend will stay in the future too.
1) Speed: The most useful aspect of using the cryptocurrencies as a transaction medium is the speed of the transaction. Unlike the past time when you have to buy the chips from the Casino and then encash them once you are done with the game, use of cryptocurrencies has dramatically changed the scenario. The transactions involving the digital coins have even surpassed the speed of online transactions, and one can easily circumvent the hassle of registering the bank details and then waiting for 24-hour for withdrawal to take place. But now, thanks to the concept of digital coins, all these hindrances have become part of the past as one gets instant payment done through Bitcoin and other digital currencies.
2) Fees Structure: Every casino charges some amount on the deposit and withdrawal of the money and depending upon the policy of the Casino, these charges may differ. Some casinos charge a fixed rate per transaction while others may opt for a certain percentage of the money you win as their fees. The charging of fees could happen in case of cryptocurrency too; however, the overall cost you bear will be far less than other conventional methods. Most of the transactions involving Bitcoin do not have any fee associated with them, and that makes it convenient for players to opt for Digital coins rather than conventional currency.
3) Limit Restrictions: Casinos which allow higher withdrawal limits are the ones opted by most of the players as limits on the deposit and withdrawal, which is an important concern for players. Each casino has a different policy regarding limits; however, of all the available conventional currency options, Bitcoin and other digital coins have the highest limit. Whether it is the case of a monthly withdrawal or one-time cash-out, cryptocurrencies beat all other conventional money options hands down in terms of limit restrictions.
4) Anonymous transactions: Unlike other conventional methods involving the disclosure of your bank account and other important details to the casinos, cryptocurrencies do not require any such information filing with the operators. This is especially relevant in today’s age and time, when there are so many scams, are happening in the online casino space. Use of cryptocurrency will possibly save you from scammers which come as an added advantage to the use of cryptocurrencies in online casinos.