What Really Are the Benefits of Using Bitcoin at Online Casinos?

What Really Are the Benefits of Using Bitcoin at Online Casinos?

There are tons of benefits to using Bitcoin at online casinos. In fact, we think the title should say: What is not included in the list of benefits at online casinos? We would say none!

As online gambling increases in popularity, players are looking for faster and more private ways to fund their accounts and withdraw winnings. Although widely used, traditional banking methods have several drawbacks, like long transaction times, high fees charged on transfers, and privacy concerns. Enter Bitcoin

Read on to learn about the benefits.

Better Privacy and Anonymity

One of the main advantages of using Bitcoin in online casinos is the improved privacy and anonymity it guarantees, so 99Bitcoins tells us.

Personal information sharing is a requirement when using traditional payment options, but this can be off-putting to some people who value their privacy. However, there is no need for such details with Bitcoin transactions - players can make deposits or withdrawals without disclosing their identity.

Players can play any casino game they like without worrying about exposing personal details or having someone trace back to the player. This level of secrecy also protects individuals against possible data breaches and identity thefts, but more on that later.

Faster Transactions = Faster Casino Payout Times

Another great thing about Bitcoin at online casinos is that they process payments very quickly compared to other means. The average payment processing time is 10 minutes.

Typical payment methods like bank transfers may take days, while credit card payments also suffer sluggishness since they involve verification steps. The average might be ten minutes, but most Bitcoin transactions take seconds. Soon after initiating them, you can deposit cash into your account - everyone wants that level of speed in getting their money.

Bitcoin speeds up everything related to gaming, we would say it is quickly becoming the most preferred form of currency by iGaming fans.

The only thing that might put people off is the price of Bitcoin, which is currently £49,257.61.

Lower Transaction Costs

Lower transaction costs have to be the best perk of using Bitcoin. The last but not least benefit associated with using Bitcoin in casino games is lower fees charged on each transaction made. Right now, transaction costs are actually at an all-time low at a level of 1.942.

Traditional systems impose high charges, particularly when you want to send money abroad. These charges include processing fees and currency conversion rates that nobody likes to pay. One of the most annoying has to be the fee for converting currencies - why does it cost so much?!

Bitcoins bypass these institutions entirely, reducing costs significantly. Frequent players, especially, can save a lot over time thanks to reduced transactional expenses facilitated by the cheapness of sending or receiving money using cryptocurrency.

Boosted Safety and Fraud Protection

Blockchain technology is the root of Bitcoin (and many applications you might be using without realising), which is more secure and fraud-proof. Every Bitcoin transaction is recorded on a public ledger that cannot be changed or hidden. Consequently, they become chargeback-proof once they are confirmed, and that prevents fraudulent activities from happening.

Traditional payment systems are considered risky because credit card information can easily fall into the wrong hands. Since it is decentralised and secured by cryptography, hackers find it hard to break into crypto wallets. Online players using digital currencies like Bitcoin definitely feel more safe.

Overall, there are numerous advantages associated with using bitcoins at online casinos. We would say it is definitely worth investing in and playing games using Bitcoin. Bitcoin should be an attractive alternative for anyone who wants to have fun playing games at online casinos. Do not let how much it costs put you off.

🔙 Back to Articles list.