Scores of online casinos now accept cryptocurrency payment processing options. Many online casinos operate on the cutting-edge, with innovative technology including digital currency payments processing. Today, a growing list of online casinos facilitates deposit and withdrawal options with digital currencies like Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH), and Ripple (XRP), among others. There are several reasons why online casinos allow players to use cryptocurrency for payments processing, notably:
Cryptocurrencies like Bitcoin, Ethereum, and Litecoin offer anonymity, enhanced security, minimal fees, and rapid processing of transactions.
From a cursory glance, online casinos and Cryptocurrency Casinos are indistinguishable. Both offer online casino games to players, including card games, table games, slot games, video poker games, live dealer casino games, and other games. From a player’s perspective, it’s tough to choose between one online casino and another. More often than not, online casino operators provide players with expertly crafted platforms with hundreds, perhaps thousands of entertaining online casino games.
It’s a Tough Choice
Today’s online casinos often share software providers. Leading game developers include Microgaming, NetEnt, Playtech, Dragonfish, eZugi, IGT, Play’N GO, Yggdrasil Gaming, and Evolution software. These internationally respected software developers are fully licensed and regulated by gaming authorities around the world. Authorities include the Government of Curaçao, the Gibraltar Gambling Commissioner, the United Kingdom Gambling Commission, the Ireland Revenue Commissioners, Antigua and Barbuda, Isle of Man, Malta Gaming Authority, or the Kahnawake Gaming Commission.
As a player seeking out a reputable online casino, it’s important to verify the type of software that is being used to power the gaming platform. Licensed and regulated software providers such as the ones listed above can be trusted because they are accountable to their respective licensing authorities. These companies and the games they produce are subject to stringent checks and balances in the form of eCOGRA Safe & Fair testing, and TST (Technical Systems Testing) testing of casino games for randomness and performance. Cryptocurrency Casinos routinely use established software providers to power their gaming platforms too. That’s why it’s always in a player’s best interests to be familiar with the big-name software providers before picking any old casino.
Back to Basics: Why Use Cryptocurrency Anyway?
Perhaps we have gotten ahead of ourselves somewhat. Let’s backtrack a few steps and explain why so many players are opting for cryptocurrency-friendly casinos. It’s probably a good idea to re-read the reasons why online casinos allow players to use cryptocurrency for payments processing (listed above). We will go over each of these reasons in intricate detail, to help you understand why crypto is such a desired payment processing option for players.
Anonymity – As a player, digital currencies provide you with far greater privacy than bank accounts, credit cards, e-wallets and other traditional payment methods. Why is this? For starters, the raison d’être for digital currency to begin with was the creation of a non-bank payment method which does not allow government to track transactions. Bitcoin (BTC) operates as a powerful blockchain technology. No names exist on the blockchain network. No telephone numbers, no email addresses, and there are no snail mail addresses either. This is as close to an anonymous digital asset as you can get.
This is precisely why players enjoy using crypto to play real money casino games online. When you register at a Cryptocurrency Casino, it is quite possible to use a moniker (made up name) and deposit real BTC into your account. This allows you to play real money games, win crypto, and withdraw to your Bitcoin wallet. If you use a traditional banking method, your full name, address, bank account information, and ID are required to process the transaction. You are on the radar from inception to cash out. The anonymous nature of Cryptocurrency Casino transactions means that nobody will be intercepting your bank statement and discovering details of your online gambling activity.
Enhanced Security – Cryptocurrency Casinos typically follow the same security protocols as traditional online casinos. The difference comes in the payment processing method. When you use Bitcoin, Litecoin, Ethereum or others, the blockchain security protocols make it virtually impossible for anyone to intercept your transaction, and steal funds from your Bitcoin wallet.
Cryptographic security features, 2FA, and passcodes should only be known to the holder of digital currency. Once you process a transaction from one crypto address to another, the transaction is complete and watertight. Fiduciary currency is riddled with security challenges, especially when credit card numbers, bank account information, ID and other information is transmitted over the Internet. Even with the most sophisticated security protocols, the strength of these transactions is only as strong as its weakest link.
There are still security challenges existing with Cryptocurrency Casinos, and nothing is ironclad. Online gambling activity is often deemed a ‘slippery slope’, particularly with unsafe online casinos. To this effect, it’s important to verify the security protocols in place at the online casino. If you transfer funds securely from your Bitcoin wallet to a Cryptocurrency Casino, that casino needs to be able to secure your account behind firewalls, SSL encryption technology, and a watertight cashier. There’s always the issue of government overreach when it comes to Cryptocurrency gambling sites, since many governments take a dim view of these types of activities.
Minimal fees – this is a big winner for players at Cryptocurrency Casinos. When you use crypto for deposits and withdrawals, you get to enjoy the lowest possible fees on all money transfers. True, crypto is not fiduciary currency, but it acts as currency when it is converted back into fiat currency. In the interim, you can enjoy virtually fee-free transfers from your crypto wallets to your crypto casino, and back again. Compare this to major credit card companies like Visa, MasterCard, American Express, Discover, even bank wire transfers. It’s a no-brainer.
Rapid transactions processing – traditional deposit options typically clear instantly at online casinos. The problem is with withdrawals. Withdrawals can take up to 8 business days to clear, depending on the payment processing method that is selected. However, with cryptocurrency, deposits and withdrawals are almost immediate. This is one of the most important reasons why players choose crypto online casinos.
Licensing and Registration
Now that you know why it is such a good idea to use digital currency for online gambling purposes, it’s important to know how to choose one operator over another. The first thing, and arguably the most important aspect to consider is licensing and registration. Any reputable online casino will proudly display its licensing and registration badge. This is usually available on the footer of the online casino, or in the ‘about us’ section. It shouldn’t take more than 10 seconds to find out which licensing authority the online casino falls under.
That’s only the first step. Now, cross-reference that claim with the respective authority. So, if the Cryptocurrency Casino states that it is licensed by the MGA, UKGC, Antigua and Barbuda, Gibraltar, or Ireland Revenue Commissioners, go to those respective government sites and verify that information. If everything checks out, you’re one step closer to picking a reputable Cryptocurrency Casino to play at. While licensing in itself is not a guarantee of credibility or transparency, online casinos which are subject to licensing frameworks are far less likely to stray than unregulated casinos. UKGC casinos are subject to stringent regulations, while Antigua and Barbuda casinos have less compliance issues to worry about. This is definitely something to consider when picking one casino operator over another.
Customer Support and Contact Options
The quality of a Cryptocurrency Casino’s customer support function is important. Try to seek out online casinos with a CARE approach. This acronym stands for customers are really everything, or communication, accountability, responsiveness, empathy. Customer-centric online casinos are always your best bet. They make the time and go the whole 9 yards to respond to player queries as quickly and professionally as possible. In this vein, it’s important to test the quality of a Cryptocurrency Casino’s customer support function before you register and deposit funds.
Here are the key elements to look for when it comes to evaluating the quality of customer support:
Is there a comprehensive FAQ section available to players?
Are there toll-free telephone numbers in multiple countries?
How many different languages is customer support available in?
Is there a live chat function and what are the hours of operation?
How responsive are customer support representatives to your queries?
Are there email addresses for technical, banking, registration, and gaming queries?
Bonuses & Promotional Offers
Everyone likes freebies, and everyone likes to be treated like a VIP. When choosing one Bitcoin casino over another, always look out for the best deals. There are lots of operators competing for players. This puts you in a prime position since you get to choose where you deposit your money and play. When it comes to bonuses and promotional offers, don’t be afraid to ask questions. Many players fall into the trap of thinking that they are due a generous welcome bonus, when they have yet to meet the bonus wagering requirements. Typical online casinos require players to wager at least 30X the bonus amount before any winnings can be withdrawn. Let’s say you have deposited the equivalent of $200 into your account with a 30 X wagering requirement. This means you will have to wager $6000 in order to withdraw your winnings.
And then there’s the issue of which games contribute towards clearing the bonus requirements. Typically, games of chance contribute 100% towards meeting the wagering requirement. Skill-based games like blackjack, craps, and video poker offer a lower percentage, meaning that you have to wager much more money on those games to meet the 30 X wagering requirement. This is something to look out for, and it is found under the terms and conditions of each bonus offer. If it’s a little difficult to find this information, contact customer support via email to ensure that you have a ‘paper trail’ to fall back on. Often, an attractive offer like ‘Claim up to $5000 in bonuses’ is not worth very much, since you may have to wager substantially more than that just to clear the bonus.
What Types Of Online Casino Games Are Available?
This is a little trickier to evaluate than other characteristics. Sometimes, too many games get a little overwhelming. Perhaps you’re the type of player who enjoys a boutique selection of online casino games, or you simply enjoy having thousands of games to choose from. Whatever your preference, evaluate the Cryptocurrency Casino’s offerings based on what you enjoy. You may prefer slots games, card games, table games, instant win games, or video poker games. Your preferences will determine which casino best meets your needs.
On the topic of online casino games, you will definitely want to check whether the option to play demo games is available to you. Most online casinos will not avail live casino games in demo mode – they are only available in real money mode. Much the same is true of progressive jackpot slots games. Certain online casinos will allow you to play directly off your browser using HTML 5 or Flash player functionality, while others will require you to register an account first before you can practice any of the games online.
Is the Cryptocurrency Casino Compatible with Your Hardware?
One would think that all Cryptocurrency Casinos would be fully compatible with Mac, Windows, Android, and iOS devices. Sadly, this is not the case. You will have to check with each Cryptocurrency Casino first before depositing funds into the account. If there are compatibility issues, games may not play on your device, there may be lags, or your device may not be supported at all. It’s imperative that the gaming platform is fully functional and compatible with your system. The best way to test this is through demo play games on your device. If everything run smoothly, chances are you won’t have any problems.
These are a handful of many factors to consider before playing at a Cryptocurrency Casino. As you can tell, a lot of these factors are commonsense. The reputation of the casino is paramount. If the player ratings are favorable, and the casino is popular, chances are it’s a better option than an unknown brand with little fanfare.v
The post Key Factors to Consider Before Playing at a Cryptocurrency Casino appeared first on Cryptocoin Spy.