The gambling industry remains the first fan of new and innovative technologies. Many casinos and sportsbooks like N1 Casino are early adopters of cutting-edge developments. So it’s no surprise that the rise of cryptocurrencies has been welcomed by those in the gambling business with open arms.
Cryptocurrencies offer several advantages over traditional fiat casinos. Let us specify:
1. Crypto Bonuses Are More Lucrative
Crypto casino bonuses become course-changing, while fiat casinos limit their promotions. The reason is that online casinos have to pay fees and taxes when offering bonuses in fiat currencies. Crypto resources free gamblers from taxes and all that old-timey stuff.
2. You Can Be More Anonymous
The Know Your Customer (KYC) procedures are necessary for casinos to comply with anti-money laundering laws. Fiat gambling sites request users to provide loads of personal information like home address, full name, date of birth, etc… But what if you want to gamble without revealing all that information?
That is where crypto casinos come in. These platforms only require an email address, and you can use a pseudonym. That makes it virtually impossible for anyone to track your gambling activities. Of course, some exceptions offer crypto games with real dealers. But crypto casinos generally are much more anonymous than their fiat counterparts.
3. Deposits and Withdrawals Are Fast
Fiat gambling sites usually take 1-5 days to process withdrawals. And sometimes, you must wait even longer if you want to withdraw a large amount of money. Not to mention the fees that can eat into your winnings.
With crypto casinos, withdrawals are usually processed within an hour or less. And if you’re using Bitcoin or Ethereum, the transaction will be confirmed in 10 minutes or less. So you can get your winnings much faster than with fiat casinos.
4. Lower Fees
Fiat gambling sites must pay transaction fees to banks or other financial institutions. And these fees are often on the customer in the form of higher minimum deposit and withdrawal limits.
On the other hand, crypto casinos don’t have to pay these fees. So they can offer lower minimum deposit and withdrawal limits. That is great news for casual gamblers who don’t want to risk a lot of money.
5. Better Odds
Crypto casinos usually have better odds than fiat casinos. The reason is that they have lower overhead costs. So they can afford to give back more to their customers through higher payouts.
6. More Games
Crypto casinos usually offer a wider range of games than fiat casinos. The reason is that government regulations do not restrict them. So they can offer any legal game in the country where they’re based.
That means they’re not subject to the whims of governments or financial institutions. So you can be sure that your winnings will be safe even if the government shuts down the casino.
8. Better Security
Crypto casinos usually have better security than fiat casinos. The reason is that they use the latest blockchain technology to protect their customers’ data. So you can ensure that your personal information and financial transactions are safe from hackers.
9. No Inflation Threats
The value of fiat currencies is often eroded by inflation. That is not a problem with cryptocurrencies because they’re not subject to inflation. So you can be sure that your winnings will retain their value over time.
10. Accessible to Everyone
Crypto casinos are accessible to everyone regardless of their location. That is not the case with fiat casinos, which are often restricted to certain countries. The only demand is an Internet connection and a cryptocurrency wallet.
Crypto casinos have a lot to offer gamblers. They’re more anonymous, have faster deposits and withdrawals, and offer better odds. They’re also more accessible to everyone, regardless of their location. So if you’re looking for a better gambling experience, you should consider using a crypto casino.