Bitcoin Casinos: Advantages
Bitcoin, and many other cryptocurrencies, is probably the most innovative way to transfer money. Often called as digital currency, Bitcoin, offer many advantages for its users – mostly due to blockchain technology and all of the benefits it has. By using cryptocurrencies a payment method, users can expect to have flawless money transfers, low transfer fees, quick processing time, large deposit and withdrawal limits. On top of all of that, Bitcoin and all cryptocurrencies in general are very safe to use – no any third party can ever get access to your wallet unless you lose a secret phrase, or in simpler words, your wallet unique password. So if we summarize all of the advantages that crypto has, we can for sure say that using Bitcoin is a smart choice – and in the text below we will review all of the benefits it has more detailed – so everyone can get the idea how good it is to make payments using cryptocurrencies!
No KYC verification is required!
Most of the online casinos that are Bitcoin friendly, will not require you to pass KYC verification procedure if you make deposits and withdrawals using only cryptocurrency. This is a huge benefits for players that prefer to keep the personal and sensitive data such as name, surname or country of residence incognito. When making payments using cryptocurrency, you will remain absolutely unknown persona cause the block-chain doesn’t share any data beside your wallet address. So you can be safe and secure that no one will ever get any information about you.
And when there is no KYC to complete, you can play in any online casino. No country restrictions are applicable for Bitcoin deposits, so theoretically, you can play even in a casino that doesn’t accept players from your country of residence for FIAT deposits and withdrawals. This is also a huge benefit cause you get more online casino to explore and play, so you have a wider range of choice. And due that, you can pick an online casino that perfectly matches your taste – in games, bonuses and other aspects.
Due to the block-chain technology, most of the cryptocurrencies that you can use to play in the online casinos will allow you to make deposits and withdrawal with lightning speed. For the most tokens, a processing time for one transactions is up to 5 minutes, so basically after you make a money transfer, it is completed almost instantly – there is no need for the online casino to process a withdrawal manually, for example. And this saves a lot of time. In case with FIAT currencies, the casino should verify your transaction, approve it and only after that it will be processed. With cryptocurrencies, you can deposit using your wallet, and then requst a withdrawal to the same wallet. And all of that will be completed automatically. So if you prefer to receive a cash out blazing fast, your way to go is to use Bitcoin, Ethereum or similar cryptocurrencies to actually complete payments in the casino safely, easily and quickly.
Low Deposit and High Withdrawal Limits
Cryptocurrencies if compared to FIAT currencies, have significantly lower deposit limits and higher cash out limits. For example, many online casinos that accept Bitcoin, Litecoin, Tether or similar cryptocurrencies, allow players to make a deposit of €/$5 or even lower sums. This means that you can’t start the game even with if you don’t have a big budget to use. Most of the classic, FIAT online casinos have a minimum deposit sum set to €/$10, which is at least twice more than crypto casinos have. This is a huge different, and for some players can make a huge impact. And now if we speak about cash out limits, then in most cases, Bitcoin casinos have a withdrawal limit that exceeds regular casino limit 2 or 3 times. So if you hit a big win in a crypto casino, you will be able to withdraw all of the money without a hassle, as limits here are very high.
High Level of Security
As we mentioned earlier, cryptocurrencies offer a very high standard of security. Whenever you use Bitcoin, Ethereum, Litecoin, Tether and basically any token, you don’t risk any kind of personal information, as you just use wallet address. There is zero chance that someone will ever get access to any sensitive information of yours, therefore it means that you don’t need worry about safety when using crypto as a primary payment method. The only thing you should keep in mind is that you shouldn’t share your secret phrase with anyone. Beside that, cryptocurrencies are very safe to use and when using them as a deposit/withdrawal method, you won’t share any kind of information. Pure anonymity is guaranteed.