What Are the Benefits of Using Crypto in Online Poker?

Online gambling and several popular payment options, including cryptocurrency, usually walk hand-in-hand. There is no denying that the market of cryptocurrency has gained immense popularity not only among traders or casual users but among gamblers accordingly. There are even some casinos that explicitly use cryptocurrency and reserve the majority, if not all, of their games for crypto. Naturally, many users are interested in why playing casinos online using cryptocurrency is so much more accessible and affordable. First and foremost, cryptocurrency wallets are available for instant withdrawals. Moreover, using a digital wallet instead of traditional banking options will allow you to minimize personal data that can be found on the Internet. These are only several core reasons, and the list can go on. It is also the main reason why we are here. Today we are discussing all the possible benefits of using crypto when playing online poker or practically any other gambling game out there. To get to the bottom of this debate, we will be talking more about payment options, differences between credit cards and crypto, pros and cons, future developments, and even NFT. 

Payment Methods and Online Casinos

Before we go further into our discussion about cryptocurrency, we have to say several things about payment methods in general. When gambling became popular, at least an online version of it, the majority of casinos were quick to offer their services and payment methods. However, the selection of banking options was rarely satisfying. Usually, you would see traditional banking options that include Visa, MasterCard, money transfers, money orders, bank transfers, checks, credit cards, and debit cards, and this list can continue. Nevertheless, now the majority of users would actually prefer to choose any paypal casino over platforms that still use traditional payments. Why did we witness sudden popularity in digital wallets when credit cards are still actively used? 

Everything comes down to accessibility and comfort. Let’s take a normal credit card as an example. When you withdraw your money, it is likely that you will receive it in around five business days. If you suddenly need them for the weekend, it is highly unlikely that they will follow your personal schedule and be as quick as possible. Waiting for more than a week to get your money can be a stressful endeavor. Consequently, more and more people became interested in alternatives. If you are not someone who knows a lot about cryptocurrency, you should know that you don’t have to settle for it. There are other options that include a digital wallet. They are just as safe and reliable. Nevertheless, you will not get an opportunity to double your win as you would using crypto. 

How to Choose a Payment Option

Choosing a payment option is completely up to you. Almost all online casinos already have a great selection of 15 and even more payment options right in front of you. It is a rare case when you see an online casino with only several payment methods. The majority of them will offer a good balance of traditional credit cards, digital wallets, and, of course, crypto. You might be surprised, yet each option actually has its own advantages and disadvantages. 

Even traditional credit cards are still popular for a reason. They seem to be reliable and understandable. You don’t have to create a specific account to use them if you already have a credit card. In one way or another, they can actually save you a little bit of time. However, they can hardly be trusted in the long run. Using a credit card forces you to put your personal information through casino software. Even though online venues usually have strong encryption, there are no guarantees that your personal information will not be stolen. The same cannot be said about digital wallets. By using a reliable digital wallet, you are saving yourself from identity theft. The same goes for cryptocurrency.

Overall, there is nothing wrong with choosing one of these payment options. We would personally recommend a common ground that would be a digital wallet. It is perfect for beginners. Nevertheless, professionals will actually benefit much more from using crypto wallets because they enable you to increase wins and possibly even double them. 

Benefits of New Banking Options

We have mentioned some of the benefits before. But take a look at our quick list below to know more.

Here are the advantages of using crypto instead of traditional banking methods:

  • Better encryptions and a smaller risk of identity theft
  • Opportunity to double your reward when trading
  • Small or even nonexistent fees
  • Open gates to the world of NFT
  • Instant or quick withdrawals that take less than an hour

These are only some of the things you are getting using either digital wallets or crypto. Overall, in all aspects, they are more reliable and trustworthy than traditional credit cards. After all, no one wants their identity and personal information to be stolen. 

Advantages and Disadvantages of Cryptocurrencies

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The first primary advantage of cryptocurrency is its growth. Even though bitcoin and similar cryptocurrencies continue to rise and fall, they are still profitable. In a matter of a couple of days or even hours, you are increasing your chances of getting a double win. The same cannot be said about people who use traditional digital wallets. They only have money they have got from playing poker. Nevertheless, before you actually start trading and using crypto as your primary currency, you have to realize that partially it is another form of gambling. Even though you can do extensive research and become a professional in crypto trading, there are no guarantees that the market will not suddenly crash.

Predictions are accurate, yet to a certain degree. This disadvantage must be considered before you sign up for a crypto wallet or a crypto-exclusive casino. With that being said, using crypto will actually grant you access to exclusive games and titles. Almost all modern casinos have titles reserved for crypto. Some of the venues even fully operate using crypto. You will not be able to play there using USD or euros. Therefore, it comes down to the matter of exclusivity and unique content. 

NFT and Its Place in iGaming

While we are on the topic of unique content, we cannot help but touch on NFT. Non-fungible tokens have overtaken the world in the same manner that cryptocurrency once did. Companies spend millions on crypto games and NFT art. If you know at least something about NFT, you are aware that you cannot buy them with real money or even exchange them for USD. In order to get unique art or even create your own pieces, you have to possess a crypto wallet. Therefore, playing poker using cryptocurrency will actually allow you to connect yourself with a new world of NFT. If you want to get to know NFT better, this is your chance. Additionally, it might help you that you are using money gained from live poker. It is yet another opportunity to double your winnings without necessarily working hard. Still, NFT requires as much research as the crypto market. 

Future Trends of Gambling

There are quite a few future trends that are worth discussing. At this point, it is already inevitable that land-based casinos might actually disappear, especially if the online world starts developing virtual reality. Even today, some online casinos are developing their VR options for users. Naturally, virtual reality is our first prediction for the future. It might take the gambling industry several years to perfect it. However, once they do perfect VR, the world of gambling will never be the same. Simply imagine enjoying all the benefits of online or live poker, almost as you would in a real casino. 

Bottom Line

Overall, the world of cryptocurrency and online casinos is interconnected. The odds of winning a poker game are rather high if you compare them with traditional slot machines or even American roulette. So let’s imagine that you had actually won a big prize when you were playing online poker. What do you do now? Naturally, you look for reliable payment options available for you. Even though some people still prefer using classic credit cards, we would not recommend you to use Visa or MasterCard for gambling. Not only do they have outrageous fees, but they also take around five business days to finalize your withdrawals.

On the other hand, you should trust crypto wallets or digital wallets in general. They have far better encryption, smaller fees, and even more opportunities for you to double your reward. With that being said, you should still know at least a little bit about the crypto market. It is a highly unstable sphere that falls and rises depending on the market. Without the proper knowledge, you are still risking in the same way as you were gambling. Therefore, crypto is one of the best choices for professionals allowing them to increase or double their winnings and rely on security. So do some research on crypto and play responsibly.

Shreya Christinahttps://businesstraverse.com
Shreya has been with businesstraverse.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider businesstraverse.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

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