Gambling across the world is at $565 billion as we speak. This number is going up. The number of players who are using cryptocurrency to gamble is growing as well. An interesting fact is that a good percentage of all Bitcoin transactions are related to gambling, one way or another.
Nowadays, the majority of non-UK licensed online casinos like on NonGamStopSlots accept this payment option and even provide some special offers if a player uses it. Let’s see why gambling using virtual currencies is growing and has been growing for a long period of time.
You can gamble when your country doesn’t allow it
This is one of the most common reasons and explanations why so many players like using cryptocurrencies. In a nutshell, they can gamble when their country prohibits that. In Asia, this is a common thing. Basically, when using cryptocurrencies players get 100% anonymity and they can play at any online casino they like. There are no laws or rules they have to worry about. Simply said, a casino will accept the player and he will make a deposit using cryptocurrency. But there won’t be any traces of those transactions or any proof that a player gambles at the casino.
Without cryptocurrency, a player will be unable to gamble. He may find a casino or something similar in his country but this is not the same as an online gambling experience. We all know that online gambling comes with many benefits. During the pandemic, those benefits are more important than ever before.
Extremely secure and safe
Sharing personal files and information over the web is not something all players want to do. Most people would avoid this if possible. When using fiat currencies, this is not an option. You need a name, card number and so much more. When using cryptocurrencies, all of this is irrelevant.
In simple terms, when using Bitcoin or anything similar, you need an e-wallet address that is a combination of letters and numbers. You don’t have to share your personal documents, files, or anything similar. But, you can still deposit funds, and withdraw your winnings. Hacking your account or your e-wallet and stealing your winnings is not something a person can do. You are 100% secure, at any given moment. This is another reason why players love it so much.
Many people believe that virtual currencies are not safe. In reality, they are safer than fiat currencies. All the transactions are going to be present in the history of the tech. Changing them is not an option. This means that a person won’t be able to change the transaction or affect it. There are no frauds in this system which is important.
Anonymity is guaranteed
Playing via cryptocurrencies is anonymous. There are no traces that you use the virtual currency and there are no ways a person can get your details. What this means is that you get a stealth gambling experience. It is probably one of the main reasons why players use this payment method.
This is very useful when you want to gamble where gambling is illegal or you want to hide this activity from your loved ones. Honestly, it has countless perks. One of them is the ability to play at rare and new online casinos. Using cryptocurrencies you will get anonymity and security. You can ‘’bypass’’ any law or rule, which can be appealing for some players.
More and more options
Even today you have many casinos that accept cryptocurrencies. Most of them will accept BTC, ETH, LTC, and a few more. But, these two are growing. More and more casinos will accept cryptocurrencies and more and more virtual currencies are being added.
In the near future, you will be able to visit any online casino, deposit funds using any virtual currency you like and play games as long as you want. This means that countless possibilities are guaranteed.
No fees
Well, there is a small fee when using virtual currencies. You will have to pay a miner’s fee. This is $0.04. Yes, it is that low. As you should know already there is no institution that will get the fees. When using other payment methods at casinos you will have to pay a fee. A casino will not charge you that fee. A payment method provider will.
With cryptocurrencies, there are no fees or even if you find one it is extremely low, as we have mentioned above. What this means is that you will get all your winnings and you won’t have to pay for anything. More money for gambling. If you don’t like paying annoying fees that are common these days, using cryptocurrencies is the way to go.
Fast transactions
All players want and like the same thing. They want to withdraw their funds and they want them in the account as soon as possible. Conventional methods will require time. This time will range between 1 hour and 15 days. In most cases, you are looking at a 24-48 hours time frame. It is not very long but it can be much better.
Cryptocurrencies require far less time. A transaction can be completed within a couple of minutes. Your winnings will be on your account within minutes so you can gamble more. There is no need to wait. Now you can use those funds for playing at other casinos.
The final word
The number of players who use cryptocurrencies to play games at an online casino is growing. Like many other technologies, it will continue to grow indefinitely. One way or another, we can see the number of players increasing. A simple explanation is that using cryptocurrencies for gambling is more beneficial than using traditional methods. On the other side, there are no downsides.
