Technological developments in recent years have been a major boost to a number of industries, with many finding synergy with others as they develop. A great example of this is the symbiotic relationship between the cryptocurrency and gambling industries

As mobile technology and online connectivity improve, more business are moving their services online and the gambling industry is no different. Online casinos offer consumers far greater convenience than land-based betting venues, and bettors can shop around for the best deals and odds.

After the launch of Bitcoin in 2009, the popularity of cryptocurrencies has skyrocketed with early investors identifying the value in a decentralised digital currency. The gambling industry was one of the first to recognise its potential and crypto casinos have enjoyed great popularity.

These options allow consumers to make secure deposits from their crypto wallet, with a massive selection accepting a variety of different cryptocurrencies.

But with so many online casino choices online, what makes crypto casinos stand out from traditional operators?

Accessibility

Accessibility is a major factor that has contributed to the popularity of crypto casinos. Gambling regulations in different locations around the world vary significantly, with some areas completely prohibiting all markets and others only allowing select gambling opportunities.

The US is a great example of how diverse global gambling regulations can be, with state autonomy resulting in a complicated gambling landscape. However, even states that don’t allow online casino gambling have options for consumers with offshore operators accessible to players.

This is also true of other prohibitive countries, and using cryptocurrencies makes it less complicated to carry out international transactions.

Privacy

Another reason that many people are tempted by crypto casinos over traditional operators is the enhanced privacy on offer. Most online casinos will operate KYC (Know Your Customer) policies for anti-money laundering and counter-terrorism reasons.

However, not everyone wants to provide online operators with a lot of personal data because there is a risk that this could be intercepted by cybercriminals. Crypto casinos offer an excellent alternative to casinos where consumers must provide documentation and bank details, allowing quick and easy deposits and withdrawals.

Save Money

The fees associated with traditional payment methods can mount up when you place regular bets, and if you are using an offshore operator you will also face fees for changing currency and could suffer from poor exchange rates.

Cryptocurrencies offer quick and easy peer-to-peer transfers, removing costly middlemen and removing the need to exchange money for native currencies.

Fast Transaction Speeds

Transaction speed can make all the difference when placing bets online. Being able to quickly deposit money into an account and start playing is a major benefit, and lucky winners won’t have long to wait for their winnings.

Some payment methods can take days to clear, leading to frustration among consumers but crypto transfers can be cleared within a couple of hours.

Transparency

There are many considerations when choosing a new online casino, and ensuring the operator behaves in a fair and open way with their customers should be near the top of the list. 

Crypto casinos offer complete transparency with all transactions recorded on the blockchain. This immutable ledger cannot be altered by third parties making it easy for betting operators to be audited.

Security

Crypto casinos offer robust security benefits to their users thanks to blockchain technology that reduces the risk of transactions being manipulated. Cryptographic Encryption also helps to protect data by using an algorithm to scramble it. Only users with the correct key can unscramble the information, protecting the authenticity and integrity of transactions and keeping them confidential.

Authentication processes associated with crypto casinos will typically require the user to enter a secure password and confirm their identity by confirming a code. This code will typically be sent to a mobile number or email address that the user has already linked to the account.

Crypto security can also be enhanced by incorporating cold wallet storage facilities. These external hard drives can be removed from devices and with no online access will not be able to be accessed by hackers.

Checking the reputation of online casinos is always recommended and third-party review sites or review sites can be a great way to determine how secure their procedures are.

Wide Game Selection

While security and privacy are essential for online gambling, it is important to remember the reason you are accessing a site. Many crypto casinos offer their customers a wide and varied selection of games to play, enhancing the user experience.

As you might expect from an online casino, traditional casino games like poker, roulette, blackjack, bagatelle, and many more are all available. Many of these games will have AI dealers and competitors, but there are many operators that offer live competitions.

Being able to play against other real players can improve the user experience, while AI competitions and games can be an excellent way to learn the ropes.

While traditional casino games always draw a lot of consumers, slots are the biggest attraction and crypto casinos typically provide an extensive collection of the latest games. 

Slots make the most of different themes including geographical, historical, mythical, and others tie in with famous movie or TV franchises. Whether you are a fan of Star Wars, Greek Mythology, or the Roman Era, there will be a game for you.

Competitive Bonuses and Incentives

Not only do customers save money on fees, but operators also benefit, and this can result in enhanced offers to attract new customers. 

Bonuses and incentives are one of the best things about online casinos and crypto casinos have some wonderful deals that can see users increase their bankroll without additional risk.

Many of these deals include deposit matching which allows the user to increase their deposit up to a pre-defined amount. It is important to remember that there will likely be stipulations added to the bonus funds that can require players to play through the amount a set amount of times.

It can also be worthwhile for players to check whether there are loyalty schemes in place for existing customers which can also prove to be beneficial over time.

Innovative Technology

The forward-thinking nature of crypto casinos means that they are more likely to regularly review software, games, and other technology that makes the customer experience better.

Experimenting with new technology can not only improve gameplay but can also help streamline the customer service side of things and make it easier for customers to withdraw their winnings quickly.

Developers and operators are able to make the most of mobile device capabilities to create immersive gaming experiences with incredible graphics and soundtracks. These options are becoming ever more realistic, rivalling the real-life casino experience.

Conclusion

The online casino industry is one that will continue to develop alongside mobile technology. The global rollout of 5G has already allowed game developers to create more immersive gaming experiences, and this will only get better.

Offering customers a variety of payment methods is also beneficial and adds to the convenience of online gambling, and the benefits of cryptocurrencies make it the ideal option for consumers.