Are you thinking about putting your luck to the test at online gambling? Online casinos have become increasingly popular recently, and there are now dozens of options to choose from. Let’s break down the comparison between traditional casinos and their blockchain-powered counterparts to help you make an informed choice.
Comparing Crypto Casinos with Typical Casinos Sites
The main difference between an online casino and a crypto casino lies in the payment methods and underlying technology used for transactions. Casinos may accept traditional fiat currencies such as US Dollars, Pounds, or Euros – all coming from a range from traditional card payments to eWallets, and prepaid cards.
On the other hand, crypto transactions are conducted on decentralized blockchain networks. It is because of the blockchain technology that these crypto casinos are also celebrated for the pseudonymity they offer. Check out our Bitcoin casinos page for more information.
Why Should You Select a Crypto Casino?
More businesses are starting to accept Bitcoin as a form of payment, and several countries explored the cryptocurrency’s integration into their financial systems. Similar to all technological advances, crypto sites carry both advantages and disadvantages, we’ll break some of them down below.
The advantages of playing with cryptocurrency
1. Pseudonymity not complete anonymity
While transactions on a blockchain are recorded and publicly accessible, the real-world identity behind a wallet address is not immediately evident.
This provides a level of privacy for users, as they can engage in transactions without revealing personal details.
2. Instant transactions
If you’ve ever played at an established online casino, you’ll know that some payments or withdrawals can take a few days to be transferred.
Blockchain casinos process transactions much faster.
In most cases, your winnings can be accessed instantly in your relevant crypto wallet. These also sites don’t have to go through any third parties, so you won’t have to pay transfer fees that are too high.
3. Globalization
Gambling laws differ from country to country. This leaves many gambling websites inaccessible for players in certain regions.
Blockchain casinos don’t need to worry about these regulations.
Cryptocurrencies such as Ethereum, Litecoin, or Bitcoin circumvent most of the regulations. Many online gamblers are surprised to hear that it’s often the movement of money that is regulated in a region, not so much the act of internet gambling itself.
Crypto casinos can dodge this bullet since the exchange of values takes place on the blockchain.
Tip: However, it’s important to note that pseudonymity does not provide complete anonymity, as blockchain transactions can still be analyzed and traced by those with the technical capability to do so.
The disadvantages of using cryptocurrency
Volatility
Cryptocurrencies are notoriously volatile. In 2021, Bitcoin reached all-time highs and saw a substantial decline in the following months into 2022.
This volatility was influenced by various factors, including changes in regulatory landscapes, macroeconomic indicators, and shifts in investor sentiment.
Reputation
Although cryptocurrencies are nothing new, blockchain sites haven’t been on the scene for long, as a result, it’s easy to see why some players are hesitant to join crypto sites.
New sites are constantly popping up in response to emerging altcoins and it can be challenging to find reliable reviews that prove a site’s trustworthiness.
Exploring the Pros and Cons of Traditional Casino Sites
Despite their longstanding presence in the gambling industry, online casinos still have some drawbacks, but we believe that the positives outweigh the negatives. Check them out below and decide for yourself.
The Advantages
You’ll have no problem finding tons of glowing reviews for all the best casino sites, which stands testament to their safety, security, and reliability. Gambling sites hold relevant licenses to show that they are adhering to strict industry standards. Not only will you be spoiled for choice when hunting for your next favorite site, but you’ll also have access to thousands of games.
Reliability
There’s a plethora of real money online casinos in Canada to choose from, each of them vying for your attention. These gambling sites work hard to keep up with the competition, and thus go to great lengths to ensure that their reputations are squeaky clean.
Safety
Most online gambling hold licenses from gambling bodies like the Malta Gaming Association, the Kahnawake Gaming Commission or the Curaçao eGaming. In addition, you as a player will be able to raise any unresolved issues with the licenser should the need arise. Think of these licenses as a vote of confidence from the issuing regulators.
Spoiled for choice
There are many more traditional casinos sites than blockchain sites. In addition, you’ll have the choice of making payments or withdrawals through various payment platforms.
Check out our top recommendations:
1. North Casino – $5,000 welcome bonus
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4. Jackpot City – $6,000 Deposit Bonus + 300 Free Chances to Win $1,000,000
5. BetPlays – 370% bonus and 750 free spins
The Disadvantages
Gambling websites tend to use middlemen when paying out or receiving deposits. In addition, there are often limits placed on payments and deposits, which may attract extra fees.
Slower payments
Having a middleman tends to lengthen the time period that anxious-to-play players have to wait before hopping into their first game or withdrawing their winnings. Payment periods differ from method to method. Usually, you’ll find information on the waiting times on the casino’s cashier or payment page.
Maximum and minimum limits
Most casinos websites have daily, weekly, or monthly limits on how much you can deposit and how much you can withdraw. This also includes service fees on certain transactions, affecting the overall cost of playing casino games online.
Which Crypto Casino Will You Select?
If you’re looking for a provably safe, secure, and time-tested online casinos, reputable gambling sites are your best bet. That is, if you don’t mind waiting for your payments to reflect. If you’re a crypto-savvy gambler with a desire for lightning-fast payouts and deposits and aren’t too concerned about fluctuating prices, blockchain sites may be your best bet.
No matter your decision, we advise you to gamble responsibly and have fun while doing so.
Here are three of our top casinos that are safe and secure for digital currency methods.
