The advantages of using cryptocurrencies for online gambling

The concept of cryptocurrency originated on the Internet a long time ago. The history of Bitcoin alone is full of ups and downs, the development from unknown satoshi to the expensive coin, which today is the main one on the crypto market and the most expensive one. In addition to BTC, altcoins, which also gained popularity and are often used, took their niche. 

Back in 2013, the first integrations of cryptocurrency coins into online casinos appeared, and since then, more and more different companies began to introduce crypto as a way to fund a casino account and even with the possibility to bet for these coins. 

And it is not for nothing that cryptocurrency can now be found in every second online casino. Bitcoin and altcoins have many advantages in gambling, and they cannot be ignored.

DeFi and cryptocurrency

Many users don't like to get involved with banks or bank cards. But alas, in order to fund your casino account with regular fiat dollars or any other currency, no matter what, you will be connected to the government authorities or the banking industry.

Additionally, users do not like to deposit or withdraw their winnings through a bank, because it takes much more time than cryptocurrency and the commissions can be an order of magnitude higher. 

Decentralization in cryptocurrency gives you confidence in your finances and full control over them. There is no regulatory authority, so no one can freeze your wallet, or seize your winnings in cryptocurrencies. You decide how to deal with your finances and what transactions to make.

Enhanced security and privacy

Transactions completed online are unchanged, giving you complete confidence that your payment will be delivered and received where it's due. No one can intercept the transaction or learn payment information about you. Once a transaction enters the Bitcoin public ledger, no refunds or changes can be made. 

Crypto and coins are transparent and honest for all users, but you still maintain your anonymity. No personal information will be required to complete a transaction, which means no one will be able to monitor you.

Cryptocurrency Inflation and Taxation

In many countries, currency is subject to inflation due to the fact that at any time it can be printed and injected into the general circulation of money, thereby affecting the economy as a whole. With cryptocurrency, everything is much more stable in this regard.

Considering Bitcoin, it is clearly limited in quantity, and the growth of volumes can be predicted without any difficulty. Because of that, Bitcoin can't go over the 21 million coin mark and pour it into the market, so it's not in danger of inflation. 

As for taxation, most major countries still do not regulate cryptocurrency and therefore do not require the payment of taxes on it. But it is worth mentioning that some countries still recognized digital currencies as the property of the state, as a means for saving finances, or even as an independent currency. Therefore, you should always keep an eye on how the local tax law treats your additional profits in cryptocurrency, especially if they are winnings from online casinos.

Commissions or no commissions

Gambling is closely related to cryptocurrency deposit and winnings methods. Your online casino site most likely has several coins to choose from, be it Litecoin, Doge, Ethereum, and other altcoins for deposits. You can visually compare fees in cryptocurrency and in regular fiat deposit variations.

More often than not, there are no or minimal commissions on crypto, and the time to complete a transaction is instantaneous. This is achieved due to the fact that there are no intermediaries between the casino and the digital financial transactions.

More attractive bonuses

Every online casino site is interested in giving its customers the best conditions. And one of them is just the same fast and convenient deposits in cryptocurrency. Additionally, the casino can often give you a lucrative bonus offer, which will be more interesting and easier to implement than bonuses for fiat deposits. This can be a set of free spins, cashback, bonus money, and many other various bonuses.

Try cryptocurrency in gambling

Now you have no doubt that cryptocurrency has its advantages and in many ways bypasses the usual methods of depositing with fiat currencies. You could even say that these days, fiat deposits are partly obsolete and cryptocurrency has superseded them. This is not surprising, considering how crypto is spreading and more percent of the world's population has Bitcoin wallets. 

Use Bitcoin and other coins not only for deposits but also for withdrawals of your winnings. This will give you a new experience, convenience, and ease of use.

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