Crypto-friendly brands are ahead in many aspects in comparison to traditional online operators. The decentralised blockchain technology, which cryptocurrencies utilise for their networks, removes many restrictions that stem from conventional financial tools, like debit/credit cards, bank transfers, and even e-wallets. Their centralised nature means that a specific entity, like a company or government, can make certain one-sided decisions significantly impacting your activity.
These traditional banking options that players have been relying on for many years have to abide 100% by any official guideline. And while many of these rules are ethical and try to combat issues like money laundering and gambling addictions, they create implications that affect a considerable number of gamblers. And that’s why they turn to cryptos.
Bonuses & Promotions
No costly third-party fees, no possibility of chargebacks or disputes, low staffing requirements due to easy operations and an international player pool to tap into means that casinos can allocate a hefty amount of funds elsewhere. Bitcoin casino bonuses are sought-after for a reason. Cryptocurrency casinos commonly offer mouth-watering Welcome Bonuses, valuable weekly Promotions and Cashback that applies only to crypto deposits. The conversion of your gambling bankroll to cryptocurrencies will enhance its value by a great margin.
Anonymity & Pseudonymity
A crypto online casino will have an easier time maintaining low KYC requirements, especially if it is independent or holds an offshore license. You will be able to register with just an email, and identity verification will only be needed if you proceed to a massive withdrawal or act suspiciously. Otherwise, you will be able to stay under the radar easily. In cryptocurrency casinos, you will deposit & withdraw using anonymous wallets, that hold no personal information at all. The combination of these two factors translates to high privacy levels.
Nevertheless, this can be negated by a sudden KYC request or if someone finds out your crypto wallet address. Remember, the blockchain network of most cryptocurrencies is transparent and publicly accessible. If you know the wallet address of someone, you can find all of their transaction history. That’s pseudonymity. Be very careful with whom you share such sensitive information. In any case, cryptocurrency casinos are much safer than conventional ones in this regard.
Multiple Coins & Double-Gambling
You are never restricted to just one cryptocurrency. The best crypto gambling sites support at least six coins. If you find a better alternative to the coin you are currently using, simply head over to a crypto exchange and trade it for the better one. The flexibility of your bankroll will be unparalleled. This also can go to a whole new level if you are an active crypto investor.
The concept of double-gambling is very intriguing, as you can simultaneously bet on both the market price action and on casino games. Think of it as the 4d chess of gambling. But even if you want to avoid this instability completely, there is the solution of stablecoins, which maintain a constant value of a FIAT currency like the USD or EUR.
Provably Fair Games
This is one of the most common buzzwords found in crypto casinos. Provably fair casinos are not necessarily exclusive to crypto-friendly brands, but they were the first to implement them. Perhaps because their technology is inspired by cryptographic protocols used in blockchain networks.
Long story short, provably fair games allow users to verify a casino’s integrity. By utilizing a combination of in-game and third-party tools, a player can review any concluded session in such a game, and check if the results of every round were drawn in a fair way. Say goodbye to uncertainty when trying out a new casino, as this technology lets you keep a peace of mind.