Why Cryptocurrency Is Good For Players?

Cryptocurrency is quickly gaining worldwide adoption but one of the sectors where it’s already taken flight is with online gaming. The sports betting community has long understood and been friendly to Bitcoin but now the rest of the world is catching up.

If you’re someone who likes to bet online – whether it’s in the sportsbook or the casino – and have never used cryptocurrencies as a banking method, we’re going to run you through why this banking method is such a big win for players. Don’t be surprised if you never go back to using the traditional methods after this.

Big Bonuses

The best reason to use Bitcoin is that most sportsbooks and casinos will give you huge bonuses for choosing this method. For example, if a sportsbook offers a 50% deposit bonus for cash, they might offer a 100% deposit bonus if you’re willing to use Bitcoin as your deposit method. As they say, money talks, so you’re always better off getting more of it.

The main reason why sportsbooks and casinos like Bitcoin gambling are because the fees are much smaller for them than some of the other banking methods. Bank wires are expenses, Western Union and MoneyGram have big fees and even e-wallets take a nice chunk. Using something like Bitcoin allows them to save big-time on the fees, which they then pass down to you.

At the same time, you can also save on fees when you’re depositing and withdrawing with Bitcoin. Something like a cheque might cost you $25 or $50 in some places but Bitcoin withdrawals are usually free.

Everyone saves with crypto deposits and you – as a customer – get to benefit a bigger casino bonus. That’s why crypto makes sense as a banking method.

Fast Deposits, Fast Payouts

Bitcoin is a great option for fast deposits at your favorite casino sites.

Speaking of banking and deposit methods, one reason to love cryptocurrency is its sheer speed of it. Money can be moved around the world in the blink of an eye. If you’ve been thinking about sending a bank wire, sometimes those can take days. Or if you’ve requested a withdrawal via cheque, that can take weeks. With crypto, it’s usually within minutes.

Bitcoin is a relatively fast cryptocurrency but many of the best online sportsbooks will offer methods like Litecoin or Stellar, which are even faster. Usually, those are transferred within seconds. Imagine not having to worry about cheques in the mail.

On top of that, crypto is very convenient. Everything can be done with just a few clicks on your computer. When it comes to some of the other methods, you have to put in some real elbow grease. For example, Western Union means you’d have to leave your house, find a location, fill out paperwork and then send. Cryptocurrency is fast, friendly, and convenient. It’s not a coincidence that this method has become so popular.

Minimal Risk With Exchange Rate

One of the biggest worries people have when using Bitcoin is the exchange rate. After all, the price can jump around quite a bit. However, what most people don’t realize is that this is a complete non-factor. That’s because when you’re exchanging and transferring, the whole process is a matter of seconds or minutes, so you have the ability to make sure that you’re not really impacted.

For example, let’s say you start off with $100. You can buy $100 worth of Bitcoin, then send it to your sportsbook account and convert it back within minutes, so whatever the original exchange rate, you should be able to get something very similar when swapping back.

On top of that, some sportsbooks and casinos will even let you play in Bitcoin. If that’s the case, you can worry less about the exchange rate at that point. Just deposit and play, and then withdraw and hold your Bitcoin.

Anonymity – If You Want It

While some people worry about sharing a lot of personal information online, using cryptocurrency can give you a semblance of anonymity. Sure, Bitcoin isn’t completely anonymous but it can be much easier to get started on a crypto exchange compared to some other methods. For example, some e-wallets will force you to fork over all sorts of personal information just to open an account. While it’s mostly innocuous, many people would rather not go through another layer of

Bitcoin.

verification if they don’t have to.

With Bitcoin, you can have a layer of privacy that some of the other methods don’t necessarily offer. If using an e-wallet, all of that data can be seen and tracked, and there will be a full history of who sent what to where. With Bitcoin, you have much more protection on all of those different aspects. At the end of the day, some people will sleep better at night knowing there is less personal information out there and less data on what they are doing with their money.

No Risk Of Method Shutdown 

While the newer generation of online bettors doesn’t really worry about this, those who have been in the game for a decade or two will know: sometimes banking methods are shut down.

There was a time when playing with an online casino or sportsbook was a game of cat and mouse. You’d be able to use one type of banking method and then it would get shut down. For example, you’d be able to deposit with a Visa, and then you’d get cut off. And then you’d try Western Union and then there might be issues. And sometimes bank wires would be allowed and other times they wouldn’t. And sometimes a new e-wallet would work for a while but then it would disappear.

When it comes to cryptocurrency, you don’t have to worry about any of that. Bitcoin is completely decentralized, so nobody can turn it on or off. As long as sportsbooks and casinos want to use it and as long as players do too, it will be available to you.