Given that cryptocurrency came into existence quite recently, not everyone is familiar with how to use it. However, several online stores and agencies that provide products and services, started to accept crypto-payments.
Moreover, cryptocurrency gained its popularity across the online casino industry as well. Currently, a number of internet gaming businesses, including JETWIN, offering to gamble with cryptocurrency, is rapidly increasing. Dozens of casinos have already implemented bitcoin and other digital currency payments, and it is just the beginning. What makes cryptocurrency so appealing to online casinos?
The answer is quite simple. Online gambling platforms spend a fortune to cover payment-processing expenses. Upon every deposit or withdrawal, the casino is charged transaction fee by its payment operator, such as Skrill, Webmoney, etc. Usually, it is very expensive. However, cryptocurrency operations, as for example, bitcoin deposits, withdrawals and transactions are absolutely free. Given that casinos do not have to waste their money on payment processing, cryptocurrency becomes more and more attractive across the gambling industry.
Moreover, gamblers are in a winning situation as well. Cryptocurrency casinos, saving money on electronic payment processing, can offer its clients great bonuses and high payouts.
Another positive aspect of the online bitcoin casino – the currency is not regulated by any government and bank in the world. Thus, neither casino’s money, nor player’s funds can be frozen or seized.
At the moment, there are two types of bitcoin casinos – the ones dealing exclusively with cryptocurrency and hybrid gambling platforms that accept both bitcoins and traditional currencies. In the latter case, the deposited crypto-funds are usually converted, thus, the player is able to place bets in regular currency (e.g., EUR). Upon withdrawal, the reverse conversion will be performed.
When selecting the online bitcoin casino one should pay attention to the same factors as upon choosing the traditional casino:
- reputation of casino
- casino’s existence period
- selection of games
- casino bonuses, both for newcomers and loyal customers
- casino license and provably fair technology
Good of luck at the best bitcoin casinos!