The rise of cryptocurrencies is one of the most intriguing advancements to be made in the 21st Century. In short, they are a digital form of currency that can be used in regular transactions much like conventional currencies. The difference is that they have no true physicality and are actually very elaborate strings of computer code. There are, in present day 2019, a variety of different cryptocurrencies that include the following:
- Bitcoin
- Bitcoin Cash
- Ethereum
- Ripple
This list is not exhaustive, but you get the general idea. Now, cryptocurrencies were for a while associated with the “Dark Web” and criminal activity due to their anonymity and impossibility to track, however in recent years they have become more and more established in traditional circles. Whilst there are still worries about their longevity (the value of something like Bitcoin can fluctuate massively) an increasing number of industries are beginning to accept them. All this leads to the question, could crytocurrencies be accepted as a deposit payment at slot sites such as this one? Well, let’s find out shall we.
But Why Would It as my chosen payment?
First off, many online gamblers will be scratching their heads here. Why on earth would I use crytocurrencies when I’m fine using traditional deposit methods? There are a few reasons to take into account here, let’s have a look:
- Anonymity: Crytocurrencies offer a huge amount of anonymity when making or withdrawing money from online casino sites. A massive amount more than the regular bank transactions that are liable to government tracking. When you deposit using Bitcoin, for instance, there is absolutely no names involved, or email addresses. It is all completely anonymous, nobody can look through your bank statements and learn of your gambling habits.
- Security: Crytocurrencies also offer an enhanced security – when you make a transaction the blockchain security protocols make it pretty much impossible for anyone to steal your money. The same cannot be said for regular bank transfers that are always liable to thievery.
- Fees: One of the most attractive benefits of making your deposits using cryptocurrencies is that this method results in the lowest possible transaction fees. More money for the reels eh? Very nice indeed.
- Rapid Transactions: Traditional deposit methods are near instant anyway, but when you go to withdraw your hard earned winnings it can often take a few days. Not the case with cryptocurrencies where this is also instantaneous.
Will They Be Accepted?
Now here’s the million-dollar question. You know of the benefits, but could crytocurrencies be accepted as a deposit payment for slots? Well the short answer is that there are already some online casinos that accept this method, for instance Bitcoin Dice and Ethereum Gambling.
There is only a small amount available however, and the chances of cryptocurrency deposits being possible in every online casino site are fairly slim at the moment. This being said, once the stigma around crypto is properly solved and governments look at it with more trust we could see a huge rise in crytocurrencies being accepted as a deposit payment for slots.
