Cryptocurrencies in online casinos: What’s behind the hype

Online casinos have been around since the dawn of the Internet. Over time, casinos have always evolved, as the industry is considered one of the most innovative. Manufacturers of casino instant software as well as site operators recognize every trend and try to open up new ways to attract different types of gamblers.

Internet casinos have the advantage that players can play from the comfort of their homes. Payments are made through a wide variety of options – and cryptocurrencies are now also among important payment options in many casinos. Why this is so and why more and more players are showing interest in payments via Bitcoin and Co. is something we take a closer look at in this article.

Data protection and privacy

Bitcoin and other cryptocurrencies are based on a fully decentralized blockchain, which has direct privacy implications and ensures that no traditional banks are involved in payments.

Transactions via cryptocurrencies are anonymous and secure. Even in the Bitcoin casino, a simple payment can then be made in this way. The value is transferred to the Bitcoin address of the online casino and then the games can be played directly with real credit – and without others knowing one’s Bitcoin address. The volatility of Bitcoin and other altcoins is something that could unsettle many players. However, at the casino, this gives you a secure payment method at hand that is even more anonymous and secure than other payment options. Comparison portals like CasinoInspektor also exist for this purpose – sites like these serve as a source of information for players who want to make payments via BTC or Altcoin.

Anonymity is a trump card with bitcoin casinos. Think of a large casino in Las Vegas: Here they will check your identity, similarly in other online casinos. The fact that lots of information about the player is collected does not please everyone. Identity theft is not an issue via bitcoin payments, though. This is because players only need to deposit money from the Bitcoin wallet (or any other crypto wallet) to the casino’s account.

Instant payments

Despite the transaction delays that occur from time to time, Bitcoin payments are generally incredibly fast. Most transactions are completed within just a few minutes. At most, it takes a couple of hours for money to be transferred. If you compare the crypto payment with a conventional online bank transfer, for example, it becomes clear that cryptocurrencies are far more player-friendly, because an online bank transfer can easily take three to four days. Players then wait that long until they can get started in the online casino.

With Bitcoin, on the other hand, accounts can be replenished directly – and winnings can also be withdrawn immediately. Even if things go badly, the transfer should be completed within a maximum of one day here.

No additional costs

Cryptocurrencies not only enable fast online payments, but also cheap ones. Credit card institutions, for example, are known for their fees. Banks have the right to charge them depending on the transaction. Especially for cross-border transactions, which is often the case with online casinos, fees can quickly become higher than desired.

However, if one uses a digital currency, then no further fees need to be factored in. This also makes Bitcoin, Ethereum and other cryptocurrencies an attractive payment method in online casinos. Due to the decentralized approach of cryptocurrencies, there is no central authority that monitors the legitimacy of the transaction. Traditional currency transactions, on the other hand, can always be associated with additional costs that banks may charge.

Bonuses in Bitcoin casinos

Modern casinos do a lot to attract new players. This includes not only innovative games and modern payment methods, but also promotions. Bonuses are known to be a good measure to attract attention. This is also known from other areas of the Internet. For online casinos, the following applies: more is more. There are cashback promotions, there are bonus credits to play with, free spins for slots and much more. Players who want to transfer their money via cryptocurrency are also well taken care of by casino operators: by now, there are various casino bonuses that are specifically aimed at players who want to use cryptocurrencies.

Bitcoin is the oldest and best-known currency and is not missing from any reputable crypto casino. Those who deposit via Bitcoin will then be credited with a certain welcome bonus, depending on the casino. This also shows the great importance that crypto payments have on gambling sites nowadays. As soon as spie

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