With internet technology becoming better every day, the market for cryptocurrency as a payment alternative has become wildly popular since Bitcoin was launched back in 2009. Into this foray has come to the gaming, e-commerce and real estate investing sectors which have realized the power of cryptocurrencies, with the gambling industry in particular increasingly adopting the alternative payment solution at a growing rate.
A myriad of “blockchain” casinos have been launched over the past few years, with a few existing ones having begun to accept online transactions using various cryptocurrencies such as Bitcoin or Ether. According to industry experts, the elevated number of benefits for both players and casinos make these transactions “impossible to ignore;” in fact, many online gaming officials believe the use of cryptocurrency for gambling platforms opens up a dizzying new world of possibilities.
“Though extremely popular, the online casinos still do their best to offer more enhanced security to their players, and that’s where cryptocurrency comes in,” states a representative for EuroGrand Casino. “To be honest, if a gambling website is not fully licensed and regulated by a certified authority such as the Gambling Commission of Great Britain and does not have ample evidence that proves legitimacy, its chances of success are low.
“In response, these websites have turned to what its reps feel is the ultimate security measure: The use of cryptocurrencies.”
Making cryptocurrency one of the safest options available to online gaming enthusiasts is the fact that players remain anonymous while making payment, as all transaction information is encrypted at all times. While indulging in cryptocurrency use, gamblers can finally let go of their worries regarding private data since no ID number, home address or bank details are requested; through this payment method, all a player needs is a user name, password and the “desire to have fun.”
Cryptocurrency also benefits the casinos in that not only does this payment approach attract more players that gravitate towards it, but it also reduces transaction processing times because no financial institutions (i.e. banks) are involved. “Cryptocurrency also protects casinos from any form of fraud,” adds a company spokesperson for Megacasino.
Some of the most popular and reliable online casinos offering cryptocurrency payments such as Bitcoin include EuroGrand Casino, 6Black Casino, Megacasino, Jet Bull, Slots Heaven and others.
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