Online casino industry is the fastest growing area on the Internet. One of the lastest casino trends seems to be blockchain technology and use of cryptocurrency. Online casino customers use various cryptocurrency methods to process payments. Blockchain payments allow users to make transactions without a middleman, which raises the questions of safety and legality.
If you want to make cryptocurrency payments at online casinos, you need to check the security level. Cryptocurrency uses cryptography for security purposes. Thanks to this feature, blockchain payments are hard to counterfeit. Up to date, bitcoin represents one of the safest Internet payment methods.
Another important thing is the legality of cryptocurrency method. This differs from country to country. For example, all casinos which hold a license from the UK Gambling Commission are allowed to accept cryptocurrency. On the other hand, the US Unlawful Internet Gambling Enforcement Act prohibits electronic bankings. It means that cryptocurrency payments are also illegal.
Best Cryptocurrency Options
Today there are multiple cryptocurrency methods for online payments. Bitcoin is certainly one of the most popular and recommended options. It offers the highest payouts which attract the high-rollers. Bitcoin transactions can take up to 30 minutes and fees are expensive.
Nowadays we can find numerous bitcoin accepting casino operators. Primedice is one of the oldest bitcoin gambling sites for dice players. The site allows a maximum payout of $120,000 per single bet (30 BTC). Another example is Bustabit gambling site with 1,4 million BTC wagered since the operator appeared. Sports fans can choose Nitrogen Sports which allows players to bet on college football teams, UFC championship winner or eSports competitions.
Ethereum is another useful blockchain option. However, it is not recommended for gambling purposes. Ethereum transactions impose high fees and take some time. Ethereum doesn’t provide a lot of gaming activity as Bitcoin. At the moment, the most popular ETH site is FCK with different gaming options like poker, roulette and dice. All FCK bets occur on a chain which means that customers need to accept each transaction and pay a corresponding fee.
If you look for alternative options, we can talk about Litecoin and Monero. However, both options provide a limited number of games. We can also observe that many Litecoin sites have been closed recently. Monero allows anonymous transactions, but you can hardly find Monero gambling platform.
Cryptocurrency gambling provides many advantages to customers. Everyone who plays at online casinos should check the benefits of leading blockchain methods as soon as possible.
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