Top 5 Reasons Crypto Gambling Exploded in the Last Decade
Traditional casinos require players to bet with fiat currencies. Now, if you’re prepared to gamble, you must be ready to win or lose. So, what’s all this fuss about cryptocurrencies, and what difference does it make? This is what we’re here to find out.
Cryptocurrencies have a few unique character traits that are crucial for gambling. That is why recently launched new casino sites in February have dedicated their payment methods and games to crypto options. We’ll discuss five points in detail to help you grasp the core concepts.
5 Reasons that Make Crypto Casinos a Haven for Punters
- Privacy and Data Security – To understand how Bitcoin impacts privacy considerations, we must first understand what Bitcoin is and how it works. Cryptocurrencies like Bitcoin are hosted on an open-source network called blockchain, where the value can be easily transferred from one node to the next. These transactions are truly anonymous, secure, and don’t need third-party interference. Anonymity is the Ace for cryptographic transactions as it can easily bypass security threats and government mandates without compromising on data security.
- Hassle-Free Transactions – While on the topic of data security, crypto transactions avoid the prying eyes of the government. Gambling is often seen as a private vice, and Government regulations and caps on spending are deemed encroachment on personal space. Hence, the need for a decentralized payment method arose. Crypto transactions solve most of these problems while streamlining the payment process. The lack of regulation means the revenue generated is tax-free. Hence, a growing number of punters are slowly moving towards crypto casinos.
- Avoid Geolocation-Based Restrictions – Limited accessibility is a serious concern under the DGE’s guidelines. Since gambling isn’t legal throughout the world, accessing websites from certain parts of the globe is against the law. Crypto casinos are free from such mandates as they aren’t regulated in the first place. Moreover, BTC casinos can accept wagers irrespective of geolocation with minimum fees and within the shortest timeframe. This helps punters avoid prying eyes while practicing their favourite hobby.
- Massive Bonuses – Crypto casinos use the latest and greatest technology, and this includes the most recent games too. Since crypto transactions aren’t as expensive as traditional payments, the operators are able to directly pass on the benefits to the customers. Most casinos offer a range of bonuses, including matching deposits, redeposit, multi-deposits, and free spins. This is quite a major bonus at crypto casinos since blockchain tokens are volatile and can gain value over time. This creates a great investment opportunity.
- The Fad Around Bitcoin – The Bitcoin boom raised a lot of eyebrows back in 2017, and a growing number of investors have been looking to enter the game ever since. This exciting fad has also prompted punters to join in, which in turn created an ideal opportunity for crypto casinos to explore. Needless to say, Bitcoin casinos are a growing fad, and there is a tremendous amount of interest within the gambling community. BTC casinos put users in charge of their finances, which is a novelty in the iGaming industry.
Starting as a typical gambler, I was interested in how the industry works. And now, for more than 10 years, I see myself as a gambling expert. After trying out more than 500 pokies, I'm ready to share my insights and tell you what you need to look at to get a good gaming experience.