Without borders or banking barriers, crypto allows fast, global transactions and more. Today, there are over 425 million cryptocurrency users worldwide, according to Statista. Both avid gamblers and technological enthusiasts have been fascinated by the emergence of cryptocurrencies and online casinos at the cusp of a digital revolution. As crypto is making inroads into online gambling currencies, it’s time to consider it as a secure payment method.
What are cryptocurrencies
Cryptocurrencies are a digital or virtual form of currency that employs cryptography for security. Unlike traditional currencies such as the US Dollar or Euro, cryptocurrencies are decentralised and operate on a blockchain technology. This decentralised nature means that they are not controlled by any central authority, like a bank or government.
Bitcoin, Ethereum, and Tether are some of the popular cryptocurrencies, but there are thousands of others in existence. The appeal of cryptocurrencies lies in their potential to revolutionise industries and offer a hedge against inflation. Still, there are many more alluring benefits when it comes to using them as a form of payment, and that’s why they have taken the world by storm.
What makes cryptocurrency casino payments so popular
When it comes to managing finances, everyone strives to achieve accessibility, security, and convenience. Taking advantage of the growing cryptocurrency market, consumers and merchants all around the world have been investing in cryptocurrency and digital coins to further ease online payment options. Numerous features distinguish cryptocurrency from other forms of payment, including:
1. Enhanced Security
For online casinos, there is nothing more than the security of financial transactions, and cryptocurrencies take security to a whole new level. With blockchain technology, every transaction is recorded on a public ledger, making it nearly impossible for hackers to manipulate or steal funds. Players can finally enjoy peace of mind knowing that their transactions are secure and anonymous.
2. Faster Transactions
Traditional banking methods often involve multiple intermediaries, leading to delays in deposits and withdrawals. With cryptocurrency, transactions are almost instant as they bypass intermediaries. Deposits are processed almost immediately, allowing players to start playing without unnecessary delays. Withdrawals are equally speedy, with funds typically reaching players within minutes.
3. Lower Transaction Costs
Conventional payment methods are associated with various fees, including processing, currency conversion, and withdrawal charges. Cryptocurrencies offer a cost-effective alternative, as they have lower transaction fees. Players can keep more of their winnings, while online casinos can reduce their operational costs.
4. Global Accessibility
Online casinos cater to a global audience, and players from different countries may face currency conversion issues and limited payment options. Cryptocurrencies are universal, enabling players from around the world to gamble online without the hassle of converting currencies.
5. Increased anonymity
Crypto wallets can be linked with specific transactions, but they are typically not linked with a specific person. So, if players want to be discreet about their spending, they can be. This anonymity also makes it easier for players to play as it reduces the likelihood of identity theft and other malicious activities.
How to start playing online with crypto
Cryptocurrencies have an extremely high degree of capitalisation, which provides them with a high value compared to Fiat money. Consequently, to make playing with small stakes possible, the “satoshi” minimum possible indivisible parts of bitcoin, equivalent to a hundred millionth, was used.
Depositing and withdrawing winnings with cryptocurrency have no fundamental differences from transferring Fiat funds. The mechanics of forming an application, however, have certain nuances.
At EmuCasino, the crypto deposit process is simple. Players have to log into their Emu account and select the crypto of their preference. First time users can take their welcome bonus, available on their first three deposits, and then select the deposit amount. Then, our payment platform will open, where you will enter your encrypted address registered with your crypto wallet. Once you click deposit, the platform will process your payment, and your funds will be available immediately.
Issues on the Horizon: Volatility and Regulatory Landscape
The adoption of cryptocurrencies in online casinos is on the rise, but it is not without its challenges. As governments and regulatory bodies grapple with how to classify and oversee these digital assets in the context of online gambling, regulatory uncertainties remain a significant hurdle.
Volatility concerns pose another challenge, as the inherent price volatility of cryptocurrencies poses yet another dilemma for online gamblers. The potential for significant returns may entice some, but the unpredictable nature of these assets may deter others.
EmuCasino offers you a variety of payment methods today
Fortunately, EmuCasino offers a number of legal payment options, including prepaid cards, debit and credit cards, and e-wallets. You can play a wide variety of old and new casino games once you’ve deposited using your preferred payment method.
EmuCasino offers some of the best casino odds online, regardless of your favourite game. To join in the action and excitement, register with us today.