Will Crypto Become a New Normal for Online Casinos?

October 8, 2021 cg-cryptocurrency

A variety of payment methods are a vital feature of the biggest online casinos as many look to introduce as many alternatives as possible to best suit the needs of players – there are some necessities for different options however with security and speed being at the top of the list for something the be considered. Crypto currency has since become a much more popular option for many online services, but what is it about crypto currency that has helped it find a home in online casinos and will it become a new normal?

Security and speed are key – With any payment method, ensuring that it’s as secure as possible but is also able to be processed quickly is key for being a good service, it’s why the traditional card payments have stuck around and been trusted for so long and why ewallets were able to grow so quickly too. Security is a key feature of all cryptocurrencies however, and definitely inspires confidence for those who are aware of its features, but speed may also become just as important as much like the eWallets options it’s something that can be processed and transferred extremely quickly, leading to improve withdrawal times which have been typically on the slower side in the past.

Bigger withdrawal limits made possible ­– With cash transfers often having a different limit on different sites, it can be frustrating for some players to find a site that matches their own needs  with a higher limit, but this may be something easily avoided with crypto. With no direct tax just yet, it means that pay-outs can be made with no loss for most countries – although this is something that is looking to be changed very quickly with new rules and legislation around taxation of these assets but is currently something much more accessible.

Anonymity may be a big selling point too – This is something else that may look to change much quicker than some may expect with EU legislation aimed at tackling this, but for now it’s also an anonymous choice that many players may look to take advantage of – anonymous payments do come with certain benefits but may also just be a factor of privacy for some players who have a preference for approaching options this way and gives the confidence to use this method in the future.

Whilst it does currently look like it’ll remain a popular option for many users at online casinos, the changes that have been proposed particularly within the EU could lead toa change for crypto payments in online casinos, and only time will tell where the change may be.

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