Why Crypto Is So Good For The iGaming Industry
Online gaming has been around for almost three decades and has accumulated huge success in that time frame. Many people who don’t have access to casinos enter the iGaming world as they find it more approachable, user-friendly, less intimidating, and less nerve-wracking. The glitz and glam of land-based casinos can be overwhelming for someone who isn’t a seasoned player, but that shouldn’t mean they can’t be a part of the exciting world of gambling, right?
With huge success comes risk, and online casinos have battled with being the most vulnerable targets for hackers. Due to all the money being exchanged on these websites, hackers are drawn to online betting sites. Cyber-security is usually the number one priority for these sites, and developers are coming up with new ways to protect you and your money so that you can bet safely. Cryptocurrency has become a fantastic way to protect online gamblers and their sensitive information.
What Is Crypto?
Cryptocurrency is a digital commodity that is protected by encryption. The purpose of crypto was to protect the funds of those who have invested in the stock market or for those who are partaking in online trading or betting. Crypto is a global decentralised currency and is therefore unaffected by politics. The most popular names in Crypto include Bitcoin, Namecoin, Litecoin, EOS, Ethereum, Cardano and Peercoin.
Crypto Is Convenient
There is little to no wait time when withdrawing your crypto from online gambling portals. This is great for players who are used to waiting for funds to be cleared. A lot of digital casinos also have no or low fees when it comes to cryptocurrencies like Bitcoin. This is not the case with real money, as exchange rate fees will apply.
Crypto Is Confidential And Safe
The confidentiality of crypto is one of its most attractive attributes about it. If you gamble with crypto, there is no way a hacker will be able to track your funds and there is no way of knowing what country you are betting from. This leaves you virtually untraceable to a hacker, so if there is a security breach at your favourite online gambling portal, you and your money will be protected.
Crypto is not only safe for the players but also for the casinos. Blockchain technology allows for transactions to be completely transparent. Casinos are fully open and even encourage you to use cryptocurrency for your safety as it decreases the risk of fraud and unlawful trading of assets. It is also impossible for anyone to tamper with cryptocurrency log files.
Your Funds Will Be Processed Instantaneously
When you’re in the heat of the moment at a live casino online, the last thing you need is for there to be a delay with your deposits. The iGaming industry attracts players from all over the world with a multitude of currencies. This means that deposits can take some time to process, and you may miss out. As mentioned previously, crypto is a global currency that is not affected by the country you live in. Betting with crypto means you can play in real-time and not have to worry about any delays.
If you’ve taken to the exciting world of online gambling, then putting some of your money into crypto will be in your best interest. It has become the norm for these online realms to encourage crypto exchange due to its safety and convenience of it so that you as the customer can have an all-around positive experience.