We can find advocates of both Bitcoin casinos and fiat casinos. However, there is a large number of people who opt for BTC casinos over fiat casinos. In fact, now you have options to play with real money free slots no registration.
So, is crypto superior to fiat? In the following post, we will try to look for reasons to go one way and throw light on the usual dissimilarities that players from both crypto currency casinos and fiat casinos may face. We will also discuss the pros and cons of cryptocurrency followed by a detailed comparison between Bitcoin casinos and fiat casinos.
5. Advantages of Crypto Casinos
- Bitcoin casinos are decentralized: Bitcoin is beneficial because there is no third-party oversight, meaning your account can’t be frozen and you have full control of your finances.
- Transaction fees are low: Because there is no central authority, you don’t have to pay middlemen fees. Although, sometimes you may need to pay a small fee in order for your transaction to go through quickly or in order to convert bitcoins into regular currency. Most wallets allow users to customize these types of settings so that they can choose what works best for them.
- Bitcoin casinos gaming is secure: Bitcoin is the best payment strategy for individuals who are concerned about their information being stolen. With Bitcoin, you aren’t required to submit any personal data, so identity theft becomes moot. Additionally, there are no chargebacks with Bitcoins – once the transaction goes through, it cannot be reversed or changed in any way. This makes it much more secure for merchants who accept Bitcoin as payments.
- Bitcoin casinos provide fair gaming experience: Compared to traditional gambling sites, Bitcoin casinos provide more fairness and integrity. Crypto gaming platforms use an algorithm that assesses the fairness of games being played on their websites so users can be confident they’re not getting cheated out of their winnings.
- Super-fast registration: The registration process at online casinos can be long and tedious, but this is only because players in certain areas are required to go through an identity verification process. To verify their accounts, users must submit documentation that serves as proof of identification. In contrast, cryptocurrency casinos allow users to create an account quickly and easily by streamlining the entire process.
It goes like this:
- Select a reliable crypto betting site
- Click on the record button
- Enter username & password
- Verify account via a link sent to email
- Send coins to operator’s wallet address
- Wait till the payment is done
- Play your desired games and win real money
Disadvantages of Cryptocurrency
- Bitcoin is volatile: The value of Bitcoin is constantly changing because there’s only a set number and more people are trying to buy them. To give an example, in April one Bitcoin was worth $64,000 but at the end of 2017, it had been as low as $20,000. Even so, prices have a way of evening out eventually so unless you’re okay with waiting (HODL), don’t keep all your savings in cryptocurrency form.
- It’s untraceable: While some people may perceive Bitcoin’s anonymity to be a good trait, and therefore, opt for online casinos that accept bitcoin, it is also more likely that crime will go undetected because of this same quality.
- It isn’t a popular payment method: Bitcoin isn’t usually the first payment method people think of, but it is gradually becoming more popular all over the world, especially for casinos and other gambling sites.
Fiat Casino vs Bitcoin Casino: A Real Tussle
Generally, Bitcoin casinos offer more advantages than land-based casinos. The popularity of cryptocurrency in gambling will continue to grow as time goes on.
- BTC casinos don’t require player data: Personal information like credit card numbers and home addresses are often required when setting up an account with a Fiat casino. But, if you opt for best bitcoin casinos instead, your sensitive information stays entirely confidential since there’s no need to input any private data onto the server.
- Bitcoin games casino offers free bonuses: Those who prioritize the size of a welcome bonus should look into crypto currency casinos with free bonus. The top bitcoin casinos in the market offer bonuses worth a few BTC to new players, which can bankroll days’ worth of playing bitcoin slots. In contrast, fiat casinos are more moderate and only offer up to several thousand USD as their top prize. Also, keep in mind that most casino packages like this would be spread across two or three deposits – making it less desirable for high-stakes players.
Casino bitcoins have clear advantages over regular online casinos that use fiat currency. If you’re stuck between bitcoin vs fiat, and can’t decide which one to choose, then remember that bitcoin transactions are more private and effortless. They’re considerably faster, so you don’t need to wait for approval or fret about conversion rates, and BTC casinos simply work better and provide a smoother experience than traditional online casinos.