The Advantages of Using Cryptocurrency at Verde Casino
It seems hard to believe that the cryptocurrency niche has only been around for ten years. During this timeframe, the industry has experienced extraordinary influxes and fluxes in cryptocurrencies and economies. Tether, Ethereum, and Bitcoin lead the pack, while hundreds of other coins follow suit. While some of these cryptocurrencies are backed by online casinos such as verdecasino.eu.com, others look to bring stability to crumbling economies such as Sri Lanka and Venezuela.
Given the massive selection of cryptocurrencies online, one would be right to think of the advantages each brings to the industry. In the online gambling industry, there seem to be constant advantages of using cryptocurrencies as the preferred mode of payment. This article looks at some of these advantages in detail.
What Is Crypto?
To many, the cryptocurrency concept is sophisticated and overwhelming. However, if you look at it from a digital currency perspective, it becomes much clearer. Basically, cryptocurrencies make it possible to transact online without using fiat currency, otherwise known as regular currencies. This is a peer-to-peer system that allows you to send and receive cash from anywhere in the world. The biggest advantage? You don’t need permission from a third party to complete the transaction. Cryptocurrencies are stored in digital wallets and can be accessed via websites and applications. It also uses encryption to verify transactions.
Advantages of Gambling With Crypto
From speedy transactions and protection to private and secure banking, there are countless advantages of using cryptocurrencies to gamble. Below are some of the advantages of using cryptocurrencies to gamble in online casinos such as Verde:
- Transparency. Transparent transactions while maintaining anonymity might seem impossible. However, this is the case with cryptocurrencies. All crypto transactions are stored in a digital ledger known as blockchain. All the information stored in the blockchain is public, and everyone can view it. However, it can only show how much was moved or transacted but cannot reveal the identity of the person behind the transaction.
- Safety. All the encrypted and stored data on the blockchain is impossible to alter or hack. Why? Once the transaction has been verified and added to the blockchain, it is shared among all the network members to validate it. This means if you want to alter the transaction, you must hack the devices of 580+ million users on the blockchain. Moreover, cryptocurrency wallets require you to set up 2-factor authentications for all accounts. The wallets also use asymmetric encryption through public and private keys to increase your money's security.
- Decentralization. While using traditional currencies to transact, a third-party intermediary usually scrutinizes the transaction before approving it. The third part is usually a bank or government institution. However, this is usually not the case for cryptocurrencies. All crypto transactions are decentralized, meaning no central body monitors or regulates the transactions. This means you have 100% control over all the online transactions, allowing you to move huge sums of money without getting questioned by the bank.
- Faster transaction times. Because of the protocol that has to be followed while transacting using fiat currencies, the transaction times tend to take between a few hours to days before they are approved. For example, wire transactions can take up to 24 hours to be processed. Credit card transactions can take up to 48 hours to be processed. Ewallet deposits are usually instant, but withdrawals can take up to 48 hours to complete. This is not the case for crypto transactions. Although the transaction speeds vary from one coin to another, you can expect your deposits to Verde Casino to be processed within minutes (up to one hour). On the other hand, withdrawals can take up to 12 hours to be completed. Bitcoin transactions are usually some of the fastest, averaging 1 hour.
- No geo-restrictions. If you closely read Verde Casino’s terms and conditions, you will notice some payment methods are not supported for some regions. This is not the case for cryptocurrency transactions. You can use the available options to deposit or withdraw your winnings without any problems.
- Accessibility. Using cryptocurrency to transact at Verde Casino allows you to access your finances anywhere and anytime. You can quickly and easily make deposits using your crypto wallet with just a few taps of your smartphone or laptop. In comparison to fiat transactions, especially those made via bank transfers, you’ll have to wait for banking hours to access your funds.
- Cheaper transactions. Another advantage of decentralization is the lack of transaction fees when depositing in an online casino. Of course, there are transaction fees when transacting in crypto exchanges and other sources of cryptocurrency purchasing. However, you don’t have to pay transaction fees when transacting at online casinos. In the event that you have to pay, the fees are usually very low compared to when you are transacting using fiat currencies.
- Affordability. Whether you are a seasoned high roller or a cautious beginner, cryptocurrency-backed casinos cater to all players across all budgetary ranges. From substantial amounts to small bets, these online casinos accommodate diverse financial budgets, enabling players to stake amounts they are comfortable with.
Verde Casino is not different from other crypto-backed casinos. You can play online slots, roulette, blackjack, and other small-stakes casino games using crypto. You can also play high-stakes games such as poker and baccarat using crypto payments.
Is Crypto the Next Big Thing in Online Betting?
As the casino adapts to its online audience, the technology for secure and private access evolves as well. Cryptocurrencies let online gamblers deposit and cash out to play their favorite casinos wherever and whenever they want. This allows them to monitor all transactions and ensure there are no instances of double-spending or potential fraudulent activities from casinos.