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7 Main Advantages Of Using Bitcoin In Online Casinos
Today, amidst the combined upswing in the popularity of decentralized finance and online gaming businesses, owners of these businesses are increasingly looking for ways to achieve an integration of blockchain and bitcoin technology into their online gaming business.
One such company is SOFTSWISS, which launched its crypto-backed casino gaming business venture in the year 2013. The popular payments method CoinsPaid emerged from this cryptocurrency payment method.
While there are many types of crypto gambling and betting sites based on deposit method (integral or integrated), game portfolio (proprietary or integrated), or on-chain/off-chain gameplay, we are going to focus on examples of brands that use a crypto payment processor and an integrated gaming portfolio.
Also, most central banks allow cryptocurrency transactions. Do all banks let you gamble online in Sweden ? Well, yes, they do.
Let us now look at some of the advantages of Bitcoin in casinos online
Increased transparency
Online casino Gaming operators are quite happy with the high level of transparency and control that Bitcoin enables over their financial accounts through the use of Bitcoin as an integrated payment processing method
Ease of transactions
Operators of the SOFTSWISS crypto svenska casino online games platform can conveniently add funds to their accounts and payout players, and at the same time know their balance through a user-friendly dashboard through CoinsPaid.
Faster game launch times
Online casinos that have a cryptocurrency-based payments system have been seen to have faster launch times, as the red tape gets reduced. Simultaneously, gaming operators get to know more about prospective players and find a way to tempt and acquire such customers to play.
Freedom from taxes on your earnings
The coolest thing yet from a player’s economic perspective is that no country has, till now, created a law that taxes crypto casino earnings. This simply means that whatever you earn in cryptocurrencies (such as Bitcoin) is tax-free.
While most of the online casino sites tax you when you transact on their websites, you are free from any such liability if you pay using cryptocurrency. This means that technically you get free bucks from Swedish online casinos and other online casinos.
Data-secure and full protection of privacy
Cryptocurrency helps you stay anonymous online, thereby keeping all your personal information secure with no chances of getting leaked.
With the use of bitcoins and other forms of cryptocurrency, you do not give out your credit card information, shielding yourself from hacking and online thefts. With cryptocurrency, you can rest assured about online casinos security concerns
Faster Transactions
Adding money to your online casino’s digital wallet c an be a breeze if you do it using cryptocurrency. This is because, with the help of cryptocurrency, there’s no need for you to await a successful transaction on your credit card .
This can translate into minutes and even hours of time savings. Besides, since cryptocurrency is universal you have absolutely no need to convert it into your home country currency.
Low Transaction Fees
The one factor that discourages players from using credit cards and payment gateway platforms like PayPal is that they usually levy high transaction fees whenever you transact using their platform to add/use funds into your online casino account. This is not the case with cryptocurrency.
There are no exorbitant transaction charges here. When you pay using bitcoin/any other cryptocurrency, you are able to add more funds to your online casino wallet. When you combine this benefit with other benefits such as the different types of bonuses in online casino games, you will get to play more rounds and spins of your favourite online casino games.
This means you have a greater chance of winning if you pay using cryptocurrency for playing your favourite online casino games. Other players can take a cue from the success of online casino players in Sweden who use cryptocurrency widely for online casino games transactions.
Conclusion
Hence, given the benefits of cryptocurrencies and bitcoin in online casinos players, there is absolutely no reason why you should not switch to this method of payment. Cryptocurrency payments are fast, secure, and save you a lot of bucks.