Cryptos have become quite the buzz word in the last few years, where more and more people acknowledge and openly speak about the advantages and benefits that these new ‘types’ of currencies have over their conventional counterparts – the fiat, bank-issued currencies. Although cryptos are not particularly new to the financial world – just think that the first cryptocurrency, Bitcoin, was launched in 2009 – it is only in the past few years that there has been such an intense growth in their use by people across the planet.
With the emergence and growth of cryptos, we have seen new forms of businesses emerging too. The gambling industry is clearly one area that demonstrates how cryptos have resulted in great transformations. More and more online casinos have embraced cryptocurrencies and what is exciting is that more and more new crypto casinos have also emerged in the market, radically changing the gambling landscape.
Let’s see why these crypto casinos are actually the future of gambling. Which are the ten reasons that make cryptos the perfect choice for gamblers?
1. Cryptos ensure total anonymity
When using cryptos for gambling, you’ll never be asked to disclose any of your personal information. You will gamble and nobody will ever know who you are or any of your personal details for that manner.
2. Cryptos ensure privacy
And it is not only anonymous. Gambling with cryptos also means that you retain your privacy, without anyone having to find out how much you gamble, how much you win and any of your transactions. That’s because it is decentralized and there is no one having control of transactions – like for example a bank or a financial institution.
3. Cryptos increase safety while gambling
Every crypto transaction optimizes safety because it is immutable and this means that it can’t be undone. This means that you get to have absolute control over what you do with your cryptocurrencies and nobody can intervene in the process.
4. Cryptos ensure transparency
The system is transparent and this means that every fraud, scam or misconduct for that manner is deemed to be spotted easily. The blockchain technology -which is the foundation for many of today’s cryptos- helps in that transparency.
5. Cryptos enable faster transactions
Crypto transactions take only a few minutes – and sometimes they take only a few seconds – to be processed and this means that you get to have far quicker transactions than the ones with fiat currencies.
6. Cryptos extinguish geographical boundaries
You can gamble wherever you want when you use cryptos as it does not require any registration, which would be subject to geographical limits and regulations.
. Cryptos are cheaper to process (they have lower transaction fees)
In the vast majority of cases the transaction of cryptos entails much lower fees, while in some cases there is absolutely no fee. Unlike the fiat currencies, for which transactions often burden people with certain fees, crypto currencies have for the largest part eliminated this problem.
8. Cryptos are often not taxed
There are still many places where cryptocurrencies are not subject to taxation. While this is not expected to last for a long time, it is of course a crucial advantage for as long as it is still valid.
9. Cryptos are widely accepted by more and more organizations
Cryptos are now easy to purchase, exchange and sell and they are also easy to use in transactions with more and more organizations. They have become widely popular and they are increasingly being integrated into our everyday lives.
10. Cryptos are more hyped
Okay, we need to admit that cryptos are hype. They are the ‘big’ thing now, the absolute ‘it currency’ and the widespread trend. Using cryptos makes you part of a continuously advancing new way of living! More and more people across the planet are adopting cryptocurrencies and use them for their everyday transactions, for investments and generally for their entire lives.