Cryptocurrencies have been probably the hottest topic of the past decade. Some think of them as nothing more but yet another elaborate pyramid scheme. Others see them as the source of income in the ever more volatile world, central banks can’t seem to stabilize. Fortunately, there are also those who see it as the next step in progress. The latter are primarily companies in the iGaming industry that, thanks to cryptos, provide a service that is elevated compared to what was on the menu just 15 years ago. 

Step by step, cryptos have become not a novelty, but a norm for any successful online casino brand. The cryptic world of cryptos is no longer a niche, but a mainstream that makes lives easier, and once you dive deeper into them, it is easy to see why.

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Cryptocurrencies and Enhanced Privacy in Gambling

The first reason why for many gamblers cryptos turned out to be a blessing from above is the enhanced level of privacy. When you play casino online games with cryptos, no one knows you are doing it, because one of the main aspects of cryptos is secrecy. 

The majority of traditional payment methods, such as credit cards and bank wire, ask for identity verification. The payment company knows your name, occupation, and address. Although this might not seem relevant, it can be of crucial importance because: 

• Certain banks don’t grant loans to individuals with bank accounts displaying gambling activity;
• Local authorities may ban certain methods from being used for gambling;
• Payment companies may introduce lower limits and higher fees for gambling transactions. 

Meanwhile, with cryptocurrencies, there is no bank to control you or approve your payments. Everything is done in the blockchain, with almost zero outside intervention. The casino may not even know your name, but only your crypto address. Even if there is a verification process involved, it is more streamlined and 100% simplified. 

Safe and Cheap Casino Transactions

Let’s face it: we all like things that are fast and cheap. The human nature and desire for instant solutions proved to be a fertile ground for cryptocurrencies in the online casino industry. Not only are they more private than any other method, but they are also more time and cost-efficient. 

In terms of time, cryptos are a method that simply cannot be beaten. Depending on the casino policy, it is possible to get a withdrawal on the same day. In most cases, you will need only a couple of confirmations in the blockchain, and an average confirmation typically takes around an hour. Classic payment methods, on the other hand, take much longer. Bank wire holds the record, with up to seven business days for a simple withdrawal. 

And it is not only time crypto casino gamblers are saving, but money as well. Crypto transactions are, for the most part, completely free. E-wallets, credit cards, vouchers, and bank wire all include some sort of fee. Sometimes, the casino won’t charge you a fee, but the payment provider will, and little amounts add up faster than you think. 

An Umbrella of Payment Options

Everyone has heard of Bitcoin, but crypto casinos offer more than just the most popular altcoin. After all, in November 2023, a single BTC was worth around 37,500 USD, which is more than most players can afford. A fraction of BTC costs a fortune! 

Yet, crypto online casinos don’t hesitate to implement a rainbow of crypto options, some mainstream, some niche, some more expensive, and others more affordable. Among the most common alternative currencies are Litecoin, Ripple, Tether and Ethereum. More niche alternatives include Dogecoin, Monero, Stellar, Solana and Tron. On average, a crypto casino will have at least a dozen cryptos to offer to its customers, often combined with fiat payment methods, meaning you can switch back and forth as you wish.

How to Buy Cryptos to Play at a Casino?

Unlike credit cards and bank accounts, it is not like the Average Joe has cryptos lying around. Mining for BTC and other coins is no longer as profitable as it used to be, but that doesn’t mean it is impossible to get your hands on them. 

Safe and reliable crypto online casinos work with reputable exchange platforms where you can use your fiat currency, such as EUR, USD, JPY or whichever, and buy cryptos you need to play. Add them to your crypto wallet and you are good to go! 

Provably Fair Games

And last, but not least, the benefit of cryptos in online casinos is the emergence of provably fair games. Probably fair casino games might look and feel like standard games, but what makes them special is the fact they don’t expect you to trust their mechanisms, but rather let you test the results and see for yourself. 

Each game comes with a formula you can use to test every single outcome of every single spin or hand played. Although this might not seem important to some, there are plenty of players who like to see how the game works, test results, and in the end, choose to continue playing or not. 

Such a level of transparency is something the casino industry never had before. In a world where many still believe the house always wins, it opens a window of opportunities and proves fairness and dedication to customer satisfaction with hard evidence.