Many online casinos have acknowledged the need for cryptocurrency gambling and moved into the 21st century by offering online gamblers cryptocurrency online gambling. Casumo online casino and other New Zealand online gambling sites now offer their players cryptocurrency gambling, which provides additional advantages. In this article, we’ll compare traditional currency and online crypto gambling to see which of these options is better.
Anonymity
If you’re an online gambler that prefers to gamble online in complete anonymity, then cryptocurrency online gambling will be a better choice. When you make deposits and withdrawals in cryptocurrencies, no information of yours will be shared with the online casino. However, the information can be traced back to you if you decide to complete your banking using traditional currency by making deposits with a debit or credit card.
Decentralised
All crypto transactions are decentralised. This means no other governing bodies are involved in any of the transactions. Banking institutions have holding periods, policies, and procedures that delay winnings being withdrawn into your bank account. Sending and receiving cash using bank transfers, debit cards, credit cards, or cheques involves the banks, which means they have control over your money at the end of the day.
Transaction Speeds
Transactions completed using crypto are much faster. This is due to the fact that these transactions are decentralised. Transactions also take place on a blockchain, influencing each transaction’s speed. Bitcoin, which currently has the slowest transaction speed, is still extremely fast. Each block takes about 10 minutes to process and can hold approximately 500 transactions. Using traditional methods to complete fiat transactions is delayed due to the interference of governing bodies like banks.
Security
Due to crypto’s anonymity, there’s no chance of your personal information being shared over the internet, where prying eyes can access your personal and financial information. This adds an extra layer of protection. Bitcoin has never been hacked and is considered the safest crypto today. Investors whose crypto wallets do get hacked purely because they were negligent.
Provably Fair Games
One important difference when gambling with crypto is that crypto casinos are the fairest in their casino games. Crypto casinos use algorithms with low house edges, making it easier for players to win. Also, their games can’t be manipulated or changed. Players are given the ability to verify the fairness of each bet. Each outcome of each casino game is provable and verifiable.
Conclusion
The differences between gambling with traditional money and cryptocurrencies are significant. Whatever method you decide to use will influence your online gambling experience. Most online casinos in New Zealand now offer crypto banking methods and games.
You’ll be able to play slots, roulette, live casino games, and blackjack at these casinos using your cryptocurrencies. Lastly, crypto casinos offer larger bonuses to crypto players than fiat currency players, which is another advantage. Overall, gambling with cryptocurrencies far outweighs the positives of playing with fiat currencies.
