Gambling enthusiasts are really going through a tough phase.
They just have too many options to choose from, with hundreds of online casinos popping up all over the internet, offering a wide range of casino games, and accepting a variety of payment options including popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Online gamblers are really spoilt for choice.
Online casinos are making this choice even harder, by offering competitive promotions like free spins, no deposit no wager bonuses and so on.
Several online casinos are now turning towards the thing the internet loves the most: cryptocurrency. They are adopting crypto deposit, betting, and withdrawal methods in order to cater to the ever-growing community of crypto-investors.
And that’s not to say that casinos dedicated to crypto don’t already exist. They have made such a splash in the online gambling scene that AskGamblers.com voted BitStarz, a bitcoin casino, as the best casino of 2017.
So, what do bitcoin online casinos have that traditional online casinos don’t? Let’s take a look at the 3 aspects that make them different:
- Quick & Easy Transactions
One of the main reasons gamblers prefer crypto casinos over normal ones is the sheer ease and speed of conducting transactions.
Most casinos that accept fiat currencies take days or even up to a week or two for withdrawals. Casinos that accept cryptocurrencies don’t have that drawback; whether it’s a deposit or a withdrawal, everything is quick and hassle-free.
That’s because cryptocurrency is more often than not stored in digital wallets, which makes the process of making deposits and withdrawals a breeze.
Getting real money transferred to your bank account takes more time because it requires verification and also because fiat currencies are governed by financial institutions unlike cryptocurrencies.
- Privacy & Regulations
A number of people might opt for crypto-gambling because the nature of cryptocurrencies aids anonymity and a higher degree of privacy.
But anonymity is a double-edged sword. While it allows you to maintain your privacy, it makes verification, tracking, and auditing a pain, further making it difficult for the industry to establish any kind of global regulations to monitor the market.
The market of fiat currency-accepting online casinos doesn’t have that problem: it’s a regulated market that might not provide you the same sort of privacy but give you a safe space to play.
The smallest unit of a bitcoin is a satoshi, which is equal to 0.00000001 BTC or a hundred millionth of a bitcoin.
This makes microtransactions possible, letting you closely manipulate the amount you’d like to deposit or bet. You can opt to bet as high or as low as you want up to a large degree, giving you a higher level of control over your play.
The differences between crypto-casinos and traditional online casinos closely mirror those between cryptocurrency and traditional forms of currency, or “fiat currencies” as they’re known.
If you’re a budding or experienced online gambler looking for that perfect casino, you should keep these 3 aspects in mind and choose the one that offers a perfect balance between features and ease-of-use.