Casinos offer one of the safest ways of payment transfers. The payments made through casinos are completely legit, secure and are closely monitored by related authorities. But with the rising trend of digital transfers, casinos have started to lean towards digital currency transfers. These digital currencies are also known as cryptocurrency. If you don’t prefer crypto currencies then I can suggest playing slots developed by Betsoft or Microgaming.
A cryptocurrency or crypto is a digital asset designed to work as a medium of exchange between individuals. It is a digital exchange of paper currency. This is the medium that stores our net worth in a computerized function. It is based on a technology known as a blockchain. Blockchain is a widely spread technology that records and manages transactions made throughout the globe.
Crypto casinos are the casinos that use cryptocurrencies or digital currency as a medium of money transfers. These casinos receive payment from players in terms of Bitcoins or any other sort of digital currency and further use these to pay taxes to higher authorities. As these sorts of casinos are not regulated in most countries of the world, these are neither legal nor illegal. However, with evolving mediums of payments, payments are frequently being made through casinos in form of digital currencies.
Best Online Crypto Casinos
- Red Dog.
- 7Bit Casino.
- Fortune Jack.
Crypto Casino Payments are in the form of
- Bitcoins. As the popularity of the digital currency in the form of Bitcoins has increased, online gamblers have started to lean towards the use of Bitcoins as a payment method. Also, many casinos offer deposits and withdrawals both in the form of Bitcoins. Many casinos support the use of Bitcoins as a medium of exchange because these are completely legit and safe.
- Ethereum. This is also a good way of conducting digital transfers. The main purpose there is to decentralize the internet and then conduct the transfer of payments between the parties. Several casinos provide it as a method of payment.
- Litecoin. These are an enhanced improvement of Bitcoins. However, these are better in terms of speed, fees, and mining. The transaction fee over there is much less than that of Bitcoins.
- Ripple. This is a medium that operates in the same way as Bitcoins, ethereum, and Bitcoins cash. However, it mainly targets audiences in traditional banking institutions. That is the reason why it is the most opted medium of digital currency on behalf of banks.
Advantages of Payments Made through Cryptocurrency
- The payments made through cryptocurrencies are not taxed. This is because there is no particular authority that can completely regulate the flow of such digital currencies.
- It offers a high speed of transaction. There is also no transaction fee involved during transfers.
- It helps maintain your anonymity. This is as no personal information of a person is attached to his wallet. But still, these transfers are transparent and completely legal.
- Games that involve payments through cryptocurrencies are highly safe and support no chances of cheating. These are completely fair.
- Digital currencies are universal and global currencies.
- The payment through this method removes the possibility of the involvement of any third party.