Why use Bitcoin at online Casinos?
The blockchain technology helps the iGaming industry to enhanced security due to the way in which the chains are linked, it can be very difficult for anyone to intercept information when it comes to blockchain. Security is of major importance in the iGaming industry as there are millions of people around the world offering both their payment and personal details to organisations. Blockchain uses smart contracts to ensure cyber criminals are kept out. With this additional security, operators can reassure their players that any details are in safe hands.
Is cryptocurrency safe in Casinos?
The blockchain technology improves trust and transparency as all interactions can be permanently and immutably recorded on chain, timestamped, and auditable by regulators as required. This means in essence that blockchain tech can prove operators are adhering to the laws around responsible gaming, and discharging their obligations to players and regulators in the appropriate manner.
Are there be any fees with Bitcoin transactions?
Processing fees will be depending on the online casino. Usually, there are no fees as you can buy or send cryptocurrency across the Internet without going through clearing house or bank, which means there are no processing fees.
Are Crypto Casinos legal?
At the moment, there are no specific laws regulating Bitcoin gambling. It is neither officially allowed nor prohibited. Since these aren’t regulated in most places, they operate out of a gray area. The gambling industry is ever changing and many of the top gambling websites are offering cryptocurrencies gaming services to new and existing players.