Blockchain technology is changing the online world as were speaking. It has gotten into so many aspects of the businesses, such as the art world, agriculture, and even the energy industry. However, none of these industries have been as impacted by blockchain technology as the online gambling industry.
At first, there were online casinos that started accepting Bitcoin use, but today, there are those who work with Bitcoin exclusively. On top of that, software providers have started developing Bitcoin games, games where all the winnings, deposits and withdrawals are available in the cryptocurrency only.
But why is that so? Why is the Blockchain becoming so popular in online casinos? Who benefits from it, players or operators? How about we tell you that they both benefit from it? There are several reasons why both operators and players tend to prefer blockchain technology over anything else.
Using Blockchain Technology, You Get a More Convenient Gambling
As the word of the blockchain solution spread, all online casino players heard was: a faster and cheaper, yet legal gambling. Is there something more important than that? Using cryptocurrency, the casino players pay no or small fees and get instantaneous deposits and withdrawals. These are the two essential things that each casino player was wishing for, for a long time. Click here to find out more about deposit and withdrawal fees at online casinos.
You Get Complete Anonymity
With the blockchain technology, players get the one thing they have always looked for: anonymity. Many try to fake their name or date of birth during registration in the casino, however, when the time comes for depositing or withdrawing, they have to use their true banking details. Using the blockchain technology, you have to use no original copies of personal and bank documents. All the casino needs from you are your pseudonym and your public and private keys.
Blockchain Technology Reduces Frauds
The blockchain, as we said, is beneficial for both casino operators and players. The transactions with blockchain technology are impossible to manipulate. All of your winnings are calculated and sent to you automatically in your cryptocurrency. Neither you nor the operator can play with the numbers, as payments are irreversible, so the percentage of frauds is significantly lower.
It Provides Decentralized Gaming
Blockchain makes things easier, as it provides a platform where you can use digital currency. This means you can easily purchase stuff and receive money from anyone in the world, with no third party service handling your money. You don’t need to think about currencies, transaction costs, fees, banks – all of your trades happen between you and the casino, no one else.
Blockchain Technology Provides a More Secure Gambling
Another thing that is of utmost importance to casino players is the security. Each online casino player is terrified of being hacked and robbed and is never sure about the safety of casino servers. With the blockchain technology, it is practically impossible to get hacked. As long as you have a good online wallet, all of your coins are safe and sound. Keep your keys to yourself and youre good to go.