Cryptocurrency is becoming more popular than ever. An estimated 250,000 Bitcoin transactions take place daily. In the United States alone, more than 45 million people own Bitcoin assets. Crypto has a long way to go to overtake forex currency, but it’s becoming increasingly accepted as a form of payment for everyday transactions. One sector that’s quickly waking up to the benefits of cryptocurrency is the online gambling industry. Read on for a TopAsia guide on why you should be seriously considering making your next wager with cryptocurrency.
Blockchain technology and cryptocurrency have obvious benefits when it comes to anonymity. Conventional payment options like bank transfers and credit and debit card transfers are certainly convenient, but every transaction you make can be traced to your identity. Although wagering with crypto is largely anonymous, some crypto platforms will require you to undergo basic verification steps. In most cases, this only involves verifying an email address before making a withdrawal.
Enhanced Security Protocols
Most casino platforms provide robust security measures to protect the assets of users. However, there’s always a risk that your payments and withdrawals might be intercepted by third-party attackers. Wagering with traditional currency always carries a risk, but you can put your mind at ease by making the switch to crypto assets. Your cryptocurrency of choice will always be stored virtually on the blockchain. While criminals won’t be able to hack the blockchain itself, you’ll still need to safeguard your cryptocurrency wallets against third-party attacks.
The Benefits of Decentralization
Cryptocurrency is founded on a decentralized system. This makes it a far better choice for gambling online. When using traditional currencies, transactions will always need to pass through a centralized financial institution. This not only leaves a record of your transactions, but it can also slow the process down.
When gambling with cryptocurrency, transfers are instantaneous. Your assets pass from your own wallet to the intended recipient, without them needing to be cleared by a middleman beforehand. There are other advantages of decentralization. For starters, because you’re not relying on middlemen, you usually won’t have to bear the brunt of processing fees and commissions. Although some cryptocurrencies like Bitcoin come with small transaction fees, they’re marginal compared to forex currencies like the British pound sterling and the US dollar. The result is that you have more money to play and you get to take home a more significant proportion of your winnings.
Play From Anywhere
Rules and regulations surrounding online gambling vary considerably between countries. Just because you’re able to play in a particular country, doesn’t mean you can legally pocket the jackpot you’ve accrued from a winning streak. Fortunately, gambling with crypto assets circumnavigates a lot of the issues surrounding online gambling. Provided you have access to a broadband connection and a crypto wallet, you can start playing and winning immediately.
Finding a Crypto Casino
In many parts of the world, there aren’t any specific laws attached to cryptocurrency gambling and online platforms accepting crypto assets as a form of payment. This leaves the average player with plenty of options.
Crypto casinos are still in the minority. However, new platforms are emerging all the time. When choosing a platform to play at, do a little homework before parting with your hard-earned Bitcoin or Ethereum coins. Most crypto platforms will deliver when it comes to anonymity and convenience. That being said, if you’re looking for complete anonymity, check the fine print for information regarding email verification for withdrawals and deposits.