Why prefer Bitcoin to play in an Online Casino?
Playing at a Crypto Casino can be beneficial for you. Players often tend to ignore crypto casino advantages and are causious to use cryptos for playing in an online casino.
Crypto Casino Advantages
Cryptocurrencies, including big names like Bitcoin and Ethereum, have become a major player in online casino gaming. Back in 2013, pioneers like Bitstarz Casino and 7BitCasino started a revolution by embracing and promoting crypto gambling. Fast forward to today, and the number of online casinos accepting cryptos is on a steady rise.
As we step into the next decade, the adoption of cryptocurrencies in online casinos is set to skyrocket, bringing good news for avid crypto gambling fans.
Despite initial doubts about this tech newcomer, using crypto in casinos brings exciting advantages for players. In this article, let’s dive into the perks of crypto gambling together. Get ready for some thrilling insights!
Bitcoin – An inflation protection Asset
Are you familiar with the concept of inflation? It’s worth noting that over the past century, the purchasing power of the US Dollar has significantly dwindled.
According to the US Inflation Calculator, what $1 could buy in 1913 equates to about $31.67 today (as of 2024).
The Federal Reserve, the United States’ central bank, is entrusted with crafting monetary policy to maintain inflation at or below 2%. Essentially, this means that each year, the value of your money diminishes by around 2%, provided the Central Bank achieves its target. However, if it falls short, the erosion of your savings could be even more pronounced. This issue is particularly acute in today’s economic landscape, where major economies grapple with heightened inflation rates.
Central banks wield the authority to bolster the money supply by printing more currency. When this occurs, the value of assets, goods, and services tends to rise.
But why do Central Banks resort to printing more money?
The primary reason is rather straightforward. When an economy encounters turbulence, governments, reluctant to implement measures that might alienate voters, often opt for the “easier” solution: printing money to defer addressing the underlying issues. While this approach may offer temporary relief, it merely postpones tackling the root causes. Consequently, these problems may resurface in the future, potentially in a more severe form. However, by then, the policymakers responsible may no longer hold office, leaving others to confront the repercussions.
Printing money is not a cure; it’s more akin to a temporary painkiller, but the real desease still exists.
On the other hand, Bitcoin cannot be inflated.
Bitcoin has a fixed supply, capped at 21 million BTC. This means that inflation is practically nonexistent since there’s no room for expanding the money supply. As per the Bitcoin protocol, every four years, the rate at which new Bitcoins are generated slows down. This gradual deceleration leads to a tapering off in the growth of the money supply until it eventually comes to a halt.
Bitcoin serves as a safeguard against inflation, functioning as an asset resistant to the erosive effects of rising prices.
No Banks Involved – You own the asset (Privacy & Anonymity)
Fast Transactions, Low Fees
Obviously, Transaction Speed is one of the most important crypto casino advantages.
Unlike the sluggish pace of traditional fiat currencies in online casinos, where you might wait 3-5 business days for deposits and withdrawals, crypto casinos offer near-instant transactions.
The beauty of it?
This rapid speed holds true even on weekends and holidays, all thanks to the decentralized power of Blockchain (The technology that allows Cryptocurrencies to exist).
Imagine withdrawing your Saturday winnings and having them in your hands on the very same day. That’s the kind of speedy magic crypto brings to the table! 🚀💰
Privacy & Anonymity
Players flock to crypto casinos for a compelling reason – the unmatched privacy and anonymity they offer. Classic online casinos demand a parade of organizations, from your card company to third-party processors, needing your sensitive data. The exhaustive KYC requirements, seeking everything from your National ID to utility bills, make the process a headache for players.
With fiat currencies, anonymity is a lost cause in online casinos. But here’s where crypto shines. Most crypto casinos don’t pry for extensive info – sometimes none at all! Crypto transactions, both deposits and withdrawals, are pseudonymous.
Tips for the savvy player:
I. Opt for a private anonumous no-KYC crypto wallet instead of mainstream exchanges like Binance or Coinbase for increased anonymity. (Watch out for those KYC verifications when using credit or debit cards on exchanges!)
II. Boost privacy by using a VPN service to connect to the online casino. Moreover, our suggestion is Express VPN or Wildscribe.
III. While 100% anonymity might be a stretch, you can still cut down on risks significantly.
IV. No KYC Crypto Casinos: Some crypto casinos go the extra mile, letting players register and play with just an email and a password. No personal data, no credit card fuss, No KYC Requirements. Classic online casinos? Regulations force them to gather every sensitive detail.
Your privacy matters – and crypto casinos get that. 🕵️♂️🔒
Security
Security is paramount, especially in the world of online gambling, where data breaches have plagued many sites, exposing players’ personal information like names, addresses, and bank account numbers. Unfortunately, poor security practices have often been the culprit behind these leaks.
Enter cryptocurrency – a game-changer in security. With its decentralized nature, the risk of your information being stolen evaporates. Take Bitstarz, for instance – enjoy your favorite BGaming Slots without the worry of personal data leaks.
Decentralization
Bitcoin, the pioneer of decentralization, operates without a central regulatory body. Own bitcoins? You’re the boss. No one can snatch them or freeze your digital currency account, especially if you use a personal wallet. However, a word of caution: Crypto Exchanges aren’t the same. They’re like banks, capable of freezing accounts and denying access to your crypto assets.
Pro Tip: Crypto Exchanges are handy for converting cryptos to fiat currencies, but don’t treat them as savings accounts. For secure crypto storage, opt for cold storage wallets. Your digital assets deserve Fort Knox-level protection. 🔐💰
Provably fair gaming
Provably fair stands as a potent algorithm revolutionizing fairness and transparency in blockchain-based games. Exclusively applicable in blockchain apps, this algorithm acts as a verifier for the randomness of crypto games.
Picture this: during an online game, whether it’s shuffling a deck of cards or flipping a coin, provably fair ensures these actions are as genuinely random as possible.
The game-changer here?
It’s the verifiability of the randomization process, a stark departure from traditional black box algorithms in the gaming industry.
Every player in a given game can personally confirm its fairness. Provably fair places transparency at the forefront, giving players unwavering confidence and trust in their gaming experience. 🎲🔗
Online casino operators embrace Provably Fair games as they powerfully enhance trust among players.
This emphasis on Provably Fair technology creates a win-win scenario, solidifying a stronger bond of trust between operators and players. 🌐🎮
What is an example of a provably fair game?
BGaming emerges as a dynamic and swiftly expanding iGaming content provider, leveraging knowledge accumulated since 2012 to give rise to the BGaming brand in 2018.
The diverse BGaming portfolio showcases over 100 products, spanning video slots, video poker, lottery games, and more.
Pioneering the industry, BGaming takes pride in being the first major iGaming provider to introduce the “probable fairness” feature in online slots.
Through cryptography, players can autonomously verify the unbiased and random nature of every game result.
The dedicated BGaming software team places special emphasis on curating a portfolio of Provably Fair games, featuring more than 35 titles (the number will increase the next years), including online roulette, video poker, card games, and flagship slots like Aztec Magic Deluxe, Lucky Lady Clover, and the famous provably fair slot of Avalon: Lost Kingdom.
For enthusiasts seeking extraordinary Crypto Welcome Bonuses and Provably Fair games, the invitation to sign up at Bitstarz Casino, 7BitCasino, or mbitcasino promises an exhilarating gaming journey with BGaming’s Provably Fair Slots.
Please note that BGaming Provably Fair Games can be found in famous Dama NV Casinos.🎰
- 🚀 Try Wildtornado Crypto Slot, a provably Fair Slot found exclusively in WildTornado Casino
Fewer fees – No Chargebacks
Bitcoin transactions stand out with significantly lower fees compared to traditional bank transactions, which often impose higher commissions and may include foreign transaction or currency exchange fees for money transfers.
Undoubtedly, a key advantage of bitcoin transactions is their irreversibility, providing businesses with a distinct edge by eliminating the possibility of chargebacks. In contrast to credit card purchases, where customers can dispute transactions or claim defects to initiate chargebacks, bitcoin transactions are final.
This inherent feature not only shields businesses from chargeback fraud but also removes the associated fees typically incurred in the chargeback process.
The finality of bitcoin transactions contributes to a more secure and cost-effective payment experience for businesses. 💸🚀
Attractive bonuses
When using Bitcoin in online casinos, you can often enjoy more significant bonuses and promotions compared to traditional online casinos. Crypto casinos, especially, aim to attract crypto VIP players by offering higher bonuses, particularly in the form of welcome bonuses.
The bonus landscape in crypto casinos stands out for its generosity, exceeding what is typically offered by traditional fiat currency online casinos.
Take Bitstarz Casino, for example, which extends a new player welcome bonus package equal to 5 BTC, translating to over 200,000 US dollars (considering a BTC price of around $40,000 in January 2024). This trend is not unique to Bitstarz – 7bit Casino and mbit casino also present substantial 5 BTC and 4 BTC welcome bonus packages, respectively.
In contrast, classic online casinos usually limit their bonuses to around $7,000 or $10,000. Uptown Aces Casino, for instance, offers a welcome bonus package of $8,888.
The noticeable contrast in bonus amounts underscores the appeal of Bitcoin casinos for players seeking more substantial incentives for their gaming adventures.