As more and more people turn to cryptocurrency to solve the issues of trust involved in e-commerce, crypto-friendly companies are popping up in unexpected places. One such place is the live casino scene for places like tha bet, where cryptocurrencies have already started to change things around in some very interesting ways. Here are just five ways cryptocurrency is changing the live casino scene.
Provably Fair Gambling
One of Bitcoin’s biggest draws—and one that doesn’t get much play in mainstream media—is its ability to operate in a provably fair system. In casinos, slot machines and other games like poker can often be rigged; thanks to blockchain technology, players have access to algorithms that enable them to prove these casinos are being honest with their game results. There are even third-party organizations that offer verification services for some casinos.
Anonymity for Players
Although it’s important to keep personal information secure, there are some situations where keeping your identity hidden makes sense. If you’re not interested in sharing your social security number with a casino, crypto might be right for you. Because crypto transactions are nearly impossible to trace and can be completed anonymously, casinos accepting cryptocurrencies can accept players worldwide without tracking individual user information.
Improved Security
One of the cryptos’ biggest selling points for those looking to transfer money or make transactions is that it’s almost impossible to hack and rig the game. This makes it a safer option than cash, which can be lost or stolen. And with an online casino, you don’t have to worry about criminals stealing your chips at gunpoint. All funds are stored in an encrypted digital wallet that only you control when using crypto. The same goes for when you play live dealer games; all bets and payouts are made electronically and cannot be tampered with by anyone else.
Players Can Bet with Bitcoin or Other Cryptocurrencies
A move that several top operators have made over recent months. Anyone with a cryptocurrency wallet can deposit and withdraw in Bitcoin, Ethereum, or other currency. Many of these companies also offer native currency wallets for customers to store their coins and use them on-site to bet quickly and securely without losing value due to exchange rate fluctuations. For example, you could choose to make your deposits in GBP or Euros but then place bets using Bitcoin. The result? You get all of your winnings paid out in BTC. The same goes for withdrawals: you can request the cash from your account, but it will be converted into Bitcoin first before being sent back to you via blockchain transaction.
Instant Payments with No Verification
One of crypto’s most alluring features to online gamblers is its low-to-no transaction fees. For example, a casino may decide to charge 0.5% for every deposit a player makes into their account. This may not seem like much, but it can quickly add up to a hefty fee for many players who make hundreds of deposits into their casino accounts each month. Casino that accept cryptocurrency like Thabetai casino allows you to avoid these pesky charges altogether by sending and receiving money instantly with no verification process or wait time. It also has no minimum amount required for transactions—meaning you could send $0.01 or $1 million and pay nothing extra!
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