5 Reasons why Bitcoin casinos are better than regular online casinos
Online gambling is one of the greatest inventions in the gaming community. The convenience and ease brought by this innovation continue to astound gamers all over the world. Cryptocurrency gambling, however, added a fresh new twist to the scene. The latter offers the player way more benefits and is particularly popular in the gaming community. So what are some of the advantages of digital currency casinos over their regular online counterparts?
For the longest time, fiat currencies have been the subject of both federal and state interference. Central banks and financial reserves in various nations tend to influence traditional currencies to achieve a specific monetary outcome. It implies different money-related activities in a particular region. Regular online gambling, for instance, which relies on conventional money is prone to be affected in the event of such interventions. A cap on monetary withdrawals from commercial banks that were witnesses in the 2008-09 Greek recession is just one of the instances where government interference has been witnessed. Cryptocurrency, on the other hand, has no regulations and is a software-backed system of currency exchange. The elimination of the human interface in the whole process ensures minimal interference since the logarithmic software determines the best course of action during each trade.
Regular online gambling offers a certain level of protection and a sense of security, but cryptocurrency gambling provides more. Traditional currencies are open to interference by either state or federal laws; crypto coins, on the other hand, are not subject to any restrictions. Cases of accounts freezing, or placing banks under receivership, can badly hurt regular online players. These players depend on such institutions to serve as intermediaries between them and various online gaming sites. If you are a cryptocurrency owner; your funds are held in a secure private wallet, and only you control the movement of your money. Losing possession of your coins is therefore impossible unless the currency loses value against another world currency by fluctuations resulting from other factors beyond the control of the owner.
Provably fair is a feature that is unique to Bitcoin casinos. It is an algorithm that can be analyzed and verified for fairness on the part of the service provider. On every game that a player places a bet on, the service provider publishes a method by which every transaction is verified. Its open-source nature enables individuals to try it out and test the game’s response to his in-game decisions. The need for third-party verification and auditing is, therefore, unnecessary.
Regular online casinos lack this great feature, and in turn, make the gamers question the outcome of particular games. The validation process is essential in boosting the player’s confidence, and by extension attracts more numbers towards the sport.
Online gambling has significantly higher operating costs as compared to cryptocurrency gambling. The player usually incurs transfer costs involved in sending money to betting sites. The costs can be prohibitive, especially if you play several games and expect to commit them in every instance. Instances, where you are in a different region away from your home country, may also prove burdensome in regards to forex rates. An online casino that exists in Europe may only accept payments in Euros or the sterling pound. If you wish to play, you will be forced to first exchange your currency to either of the two currencies to deposit on said site. The exchange rate may be unfavourable to you, resulting in a significant chunk of your money paying up for costs that are not related to the game.
Bitcoin, on the other hand, has minimal costs on transfers, with the highest being about 10 US cents irrespective of the amount sent.
Cryptocurrency casinos are by far the most innovative segment in the gaming world. They continuously develop games and technology that is exciting and interactive. Bitstarz casino, for example, has over 500 games and continues to release more.
Even though online gambling offers a heightened level of security, it is important to play some trials before attempting a real game.