Cryptocurrency vs Online Gambling: The Key Differences

Cryptocurrency vs Online Gambling: The Key Differences

Blockchain
May 6, 2021 by Editor's Desk
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Pop into any leading cryptocurrency casino, like bitcasino today; you will notice far more similarities between these casinos and conventional online casinos than differences. Despite how alike these two types of betting sites are, though, there are still one or two differences worth exploring, and these have become the focus for this brief guide. Bet with
Crypto Gambling

Pop into any leading cryptocurrency casino, like bitcasino today; you will notice far more similarities between these casinos and conventional online casinos than differences. Despite how alike these two types of betting sites are, though, there are still one or two differences worth exploring, and these have become the focus for this brief guide.

Bet with Cryptocurrencies

Of course, the most significant differences between conventional online casinos and cryptocurrency ones are that the latter allows you to deposit with cryptocurrencies. Of course, we are rather stating the obvious here. What may not be so obvious is that many of the best cryptocurrency betting sites (sites like Bitcoin Casino) also allow you to deposit with FIAT currencies, giving you an edge over standard casinos that often do not accept digital currency options.

Faster Withdrawal Times

Honestly, there is little to separate between cryptocurrency and online casinos when it comes to depositing times. Both can typically process deposits instantly. However, when it comes to casino withdrawals, it is often a different story. Cryptocurrency withdrawal options are often capable of completing transactions in a matter of minutes, making them far handier for players who want speedy withdrawals.

Lack of Fees

The other major thing to note about cryptocurrency withdrawals is that these often come devoid of fees. While even the best conventional casinos may slap you with a fee for cashing out with a bank transfer, the best cryptocurrency casinos will not do that. On top of that, the withdrawal limits tend to be more flexible when it comes to cashing out your winnings with Bitcoin, Ethereum and a few other options.

Limited Game Availability

Cryptocurrency casinos will not have everything their own way, though. In fact, while many digital currency betting sites accept Bitcoin, Ethereum and co, not all of them allow you to wager with these options. At a conventional casino, if you can deposit with one currency, you are guaranteed to be able to bet with it. This is not always the case at crypto casinos, where you may see your cryptocurrency deposited converted into US dollars or another option for betting. In short, there are fewer games that are Bitcoin-friendly at crypto casinos than games that are US-friendly at conventional ones.

Is There an Advantage?

If you can choose to play at a cryptocurrency casino with games that are Bitcoin and Ethereum-friendly – again, like BitcoinCasino.io – then there is a clear advantage to playing at cryptocurrency casinos over standard sites. You do not have to take our word or recommendations, though. Many cryptocurrency casinos allow you to sign up and play with FIAT options. Therefore, if you are unsure if cryptocurrency gambling is for you, you can always sign up and then choose to deposit and wager using US dollars or other options if it turns out that you do not like betting with Bitcoins.

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