Many companies use cryptocurrency and blockchain technology. It is not surprising, because cryptocurrencies have driven the whole world crazy. More and more individuals and companies rely on them to make payments. Some even buy houses for cryptocurrency, which once again confirms the growing popularity and widespread use of this type of money.
The casino industry is no exception. The number of pioneers, such as SatoshiDICE, has been joined by world industry leaders who realized the advantage of technology.
In addition, there are many advantages when using cryptocurrency and blockchain technology in online casinos. Blockchain technology is considered to be the best solution for the online gambling industry, and there are a number of reasons. Confirmation of this is hundreds of thousands of transactions that are carried out between operators and players on a daily basis. Thus, due to the blockchain technology, money transfers, which previously could take a day, began to be made much faster and without unnecessary overpayments to intermediaries, which benefits both operators and players. Therefore, it is safe to say that blockchain technology is the way to a revolution in the online casino industry.
Another indisputable advantage of blockchain is anonymity
It is known that banks have access to information about the user’s transactions. If the report on his transactions contains a large number of transactions between gambling sites, it is likely to be refused in cases of private treatment. On the other hand, the blockchain does not use the services of third parties, so transactions are directly between the operator and the player, so banks are deprived of the opportunity to track the gambling activities of their customers. In addition, the commission for transactions with cryptocurrencies is much lower than in the case of Fiat money.
It is also worth noting that online gambling is focused on the global market, which is another argument in favor of the use of cryptocurrency and blockchain technology. Banks charge a fee for currency exchange. As a result, both operators and players are subject to possible changes in the exchange rate. There is no need to convert currency with digital money.
Cryptocurrency casino is perhaps the fastest. This is due to the very nature of blockchain. Distributed Ledger technology not only protects information through coding but also eliminates the need to contact financial institutions.