Payment methods in any industry hold great importance. When it comes to the iGaming industry, players emphasise payment methods more than usual. It is an overriding factor as well when choosing an online casino. Payment methods enjoy this dominant status because of the dubious nature of the online casino industry. Safe & secure payment methods make the whole gaming experience effortless.
With that being said, not all payment methods offer timely deposits & withdrawals. Not all payment methods will make your life easier. Consequently, the online gambling industry is observing new additions to the long list of payment methods. Bitcoin. Yes!! You heard it right. Bitcoin casinos have been gaining popularity for all the right reasons. But do not believe us so easily. Herein we will be comparing the advantages of best bitcoin casinos with traditional casinos and then you can make a choice fairly. But first, let’s understand what are Bitcoin casinos & traditional casinos.
What are Bitcoin casinos?
Bitcoin casinos are no different from traditional online casinos, the only minor difference being the addition of cryptocurrencies as the mode of payments. While traditional online casinos offer a variety of payment modes including bank transfers, Skrill, Google Pay, Phonepe and more, Bitcoin casinos do the same but they also support deposits and withdrawals via Bitcoin. Bitcoin casinos are gaining traction nowadays because they extend all the control to the players and provide full anonymity. It is considered one of the safest options. Let’s compare bitcoin casino India with traditional online casinos to understand what makes bitcoin casino sites so different.
Bitcoin Casino v/s Traditional Casinos | Advantages
1. Safety & Security
Security is the most crucial aspect. There is no point in proceeding if the online casino, be it traditional or the best bitcoin casino sites aren’t safe.
When it comes to comparison between online traditional and bitcoin casinos, they are both different security-wise. First and foremost, cryptocurrency wallets are safer than density & credit cards, bank accounts etc. It is difficult for hackers to barge their way into the bitcoin casinos.
We cannot turn a blind eye to the fact that traditional online casinos offer layers of security encryption making it difficult for hackers to steal personal information but Bitcoin casinos have a higher level of encryption and all transactions occur using blockchain technology. Another great advantage of bitcoin casino sites is that they offer full anonymity. On the other hand, traditional online casinos require the disclosure of personal information.
Another thing that needs special attention is that cryptocurrency is decentralized as no financial institution or government regulates it which is the case with the rest of the currencies. Fiat currencies come under the regulation of the government and a player’s account can be frozen at any point in time. With the best bitcoin casinos, players have complete control over their accounts.
Those who have gambled in traditional casinos are probably aware of the tricks that operators apply to attract players. For instance, great winnings, staggering images and amazing bonus offers. It has been observed that most of these promises are hardly fulfilled. Most traditional online casinos in India hide important information from players and take advantage of players who are not enlightened at the moment. However, with the best bitcoin casino sites, the information cannot be hidden as they are transparent. They make use of a direct platform.
Another major difference between traditional online casinos & bitcoin casinos is the currency they both use at the time of transactions. Traditional online casinos use the regular currency to measure and exchange the value costing British Pound, INR, US Dollar, etc. However, the best bitcoin casino uses cryptocurrencies to compute and exchange value.
4. Fairness related to the games
Another important difference is the fairness of the games that both these casinos offer. It would be appropriate to say that the best bitcoin casino sites are safe in comparison to traditional online casinos because they use fair algorithms and possess a lower house edge. Contrastingly, traditional online casinos dwell on fiat currency and have a house edge of between 3% to 15% depending on the casino & game.
Bitcoin casinos are cost-effective in comparison to traditional online casinos. That is because traditional online casinos have to bear the huge costs linked with transactions and deposits. Ultimately, gamblers have to bear the burden of taxes and duties. This influences the total winnings earned by the players.
In the case of Bitcoin casinos, these costs are exempted. That is because either there is no transaction fee or the fee is minimal. As Bitcoin casinos are not regulated either by payment services or institutions, transaction costs are hardly there. This is also a relevant contributing factor to the scenario of Bitcoin casinos taking precedence over traditional online casinos.
6. Offers more value
The popularity of bitcoin casino sites is very high and more and more players can be seen participating in them daily. The increase in demand has increased Bitcoin’s value. Punters have an option to withdraw their winnings and exchange them with fiat currency they can proceed with gambling and wait for the Bitcoin prices to rise.
Also Read: What are the types of casino bonuses offered?
Even though both Bitcoin casinos and traditional casinos possess their advantages but best Bitcoin casino can be seen taking precedence. They can be seen displaying games like Baccarat, Roulette & Blackjack. With this in thoughts, punters can expect Bitcoin casinos an exponential growth in bitcoin casino India. Bitcoin casinos can be claimed safe for a beginner as well as a veteran because of the uncomplicated interface.
However, do not be trifled by the advantages of bitcoin casino India, they are also volatile. Make sure that you take the advantage of Bitcoin casino but also practice responsible gaming.