Bitcoins Cryptocurrencies
24
07.2018

Cryptocurrencies are in vogue in casinos

By Sophie Couard

Cryptocurrencies continue to be a popular means of payment in casinos.

Although Bitcoin and other cryptocurrencies are currently trending downwards in price, they are anything but unpopular. They are still used a lot and offer many possibilities, including as a method of making deposits to online casinos. The number of providers who accept Bitcoin, for example, as a method for making deposits and withdrawals is growing steadily.

Benefits to the players and casinos

All casinos need to protect themselves from scams. Counterfeit money is problematic in land-based casinos, as has recently been shown in Rhode Island, and in online casinos it is primarily credit card fraud that needs watching. One of the advantages of cryptocurrencies for casinos, for example, is that it is not possible to have a credit card chargeback, as can be done with credit cards. This excludes fraud by stolen credit cards. Also, the transaction fees are lower and there is the provably fair technology, where all rounds of the game can also be checked by the players and are therefore completely transparent.

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Many online casinos accept Bitcoin

There are many benefits to using cryptocurrencies, including low transaction fees and provably fair technology.

The number of online casinos that accept Bitcoin to deposit funds into the player account is increasing. There are on the one hand direct Bitcoin casinos, such as Bitstarz for example, but there also other operators, such as Wunderino, which do not focus exclusively on cryptocurrencies, as they also offer many alternative methods.

By Sophie Couard
By Sophie Couard - EDITOR

I am a great fan of gambling, I became a croupier to finance my studies. After my high school diploma in economic and social sciences , I obtained a bachelor's degree in economics and then a master in philosophy with a thesis on player behavior. After working in an online casino customer support, I became a writer on FeedBACK Casino.