
Being able to make a speedy, secure payment is the aim for most players when accessing online betting sites of all types. Be it a casino, sportsbook, or sweeps casino, this is a very important feature to have. For many years, the go-to secure payment methods included card payments or bank transfers. While secure, these took a long time to process. Other methods such as prepaid cards or eWallets proved to be equally secure, while being speedier. But a new payment method is on the rise that beats all of these. And this is cryptocurrency.
Security of cryptocurrencies
Unlike other currencies, crypto is a decentralized one, which means that it is not governed by banks or governments. Acting outside of this regulatory framework, it’s not bound by the same rules. It also operates on the blockchain, a significantly different method to any other currency or payment method. Using the blockchain means that all transactions are recorded. Not only that, but they are completely transparent as well. This means that anyone can check the status of a transaction quickly and easily. Better still, transactions can’t be changed or modified once made. And, they’re all anonymous, which means they can’t be traced back to a specific person.
When it comes to speed, they’re also the fastest option out there. Some cryptos are slower than others due to the number of confirmations a transaction has to go through, and whether there is congestion on the blockchain. Even then, the payment processing time is typically less than ten minutes, which is far and away faster than anything offered by other payment options.
Casinos accepting crypto
With the increased popularity of cryptocurrency, it comes as no surprise to find that more and more casinos are offering this payment method. Alongside the desire for secure, speedy payments, players increasingly look for anonymity online, something crypto provides. Consequently, there are more casinos accepting crypto payments than ever before.
Not only that, but there are a growing number of sweepstakes casinos that accept crypto too. Sweeps casinos themselves are becoming more popular due to their risk-free nature. And yes, while purchasing gold coins is the only thing you need to spend on when using these sites, being able to use crypto for those purchases is particularly appealing to many. Of course, staying safe and secure is still key, and any online casino offering crypto needs to be licensed and regulated.
This is the only time that problems may occur. Some crypto casinos do not take regulation that seriously, and often do not have proper licensing. Given the gray area of crypto in many government laws, it’s also hard to enforce such licensing. Of course, using crypto is legal, but the casinos offering it often aren’t. With this in mind, it’s important that players take into consideration the fact that the casino might not be as safe and secure as the payment method it is offering.
At the end of the day though, crypto is readily available at online sites. And it makes for a great, speedy, and secure option.