ver the last decade or more, cryptocurrencies have gone from strength to strength. From the launch of Bitcoin in 2009, the value of the commodity has skyrocketed, allowing early adopters of the technology to amass sizable fortunes in the process. Unsurprisingly, a multitude of copycat cryptocurrencies have cropped up in its wake.
But while cryptocurrencies like Bitcoin have traditionally served as a niche investment opportunity practiced by a select few, they have since infiltrated a growing number of industries. The online casino sector has been one of the biggest beneficiaries of crypto’s sophisticated technology, with the following reasons going some way towards demonstrating why the two appear to be a match made in heaven.
Traditionally, online casino operators must go through banks, credit card companies or other financial institutions to verify your identity and process your deposits or withdrawals. All of this adds up to unnecessary delays between the creation of your account and the moment when you can begin playing. With cryptocurrencies, those delays are minimised to a matter of seconds rather than days, allowing you to hit your favorite tables sooner.
In the age of data security regulations, the issue of protecting your sensitive information online is of paramount importance. Because cryptocurrency dispenses with middlemen like the financial institutions mentioned above, it means that it’s supremely easy to gamble anonymously with Bitcoin, Ethereum or other options. This is highly attractive for those gamblers who prioritise privacy and anonymity above all else.
Because there are no banks, payment processing companies or other intermediaries in between the user and the site itself, there is no need for commission to go to any of these companies. What’s more, the online nature of crypto currencies negates the needs for physical overheads, such as premises hire, employee payment and other such concerns. As such, crypto casinos have fewer outgoings, meaning they pass less of these costs onto their consumers.
Promos and bonuses
You’ll also commonly find that crypto casinos leverage their reduced overheads in other manner: by offering more lucrative perks and benefits to their users. Competition in the online casino sector is rife these days, which is why individual sites are constantly attempting to outdo one another with more and more attractive promotions and bonuses. With a greater budget at their disposal, crypto casinos are in a better position to make you an offer you can’t refuse.
Many online casino operators are very strict in who they allow to visit their sites and play their games, especially due to the restrictive payment terms they offer. By their very nature, cryptocurrencies do not belong to one single nation and as such, they’re open to everyone. This harks back to the founding principles of online casino platforms; creating a space where everyone has equal rights to participate and an equal chance of victory.
With all of these advantages under their belt, it’s no surprise that cryptocurrency casinos are going from strength to strength in recent years. What are you waiting for? Make your first deposit in Bitcoin or your digital currency of your choice and get involved in the action, today.