Cryptocurrencies and their use in online casinos
A new sensation among Portuguese online casinos is the possibility of betting with cryptocurrencies. The growth and acceptance of cryptocurrencies such as Bitcoin have revolutionized and transformed the way Portuguese gamblers play online casino games.
But what are cryptocurrencies and how can they be used in online betting? It will be possible to use cryptocurrencies as a payment method in mobile casino games or are they limited to computers only? How has this affected the Portuguese population, since many people have never heard of cryptocurrencies? These are some of the questions we will answer in this article.
Cryptocurrencies and their use in the financial market
The growing popularity of online betting worldwide has boosted the financial market. Through smartphones instead of fixed computers by players, creating an account and starting betting in bookmakers and online casinos has become convenient.
With this in mind, game operators have begun to realize that due to the convenience and security of cryptocurrencies, it would be feasible and of great interest to this segment of the population to be able to create an account and use cryptocurrencies as a form of payment.
But how does this affect the financial sector? According to the Gaming Regulation and Inspection Service (SRIJ), the increase in digitization, combined with increasingly secure and reliable payment options (such as cryptocurrencies), is greatly contributing to the growth of this betting sector. Bettors feel safe in such bets because, unlike other types of payments, cryptocurrencies do not require an intermediary to provide and exchange information.
That is, the anonymity created by using cryptocurrencies makes them an interesting option for players. But what are the other benefits that cryptocurrencies offer?
- Lower commissions – In the world of cryptocurrencies, commissions paid by online casinos are lower due to the fact that there are no third parties or middlemen involved in transactions. One of the main tips is to know what the latest gas rate (the rate used in cryptocurrency transactions) is being used, which allows the transaction to take place at a lower rate.
- Complete security and privacy – Through the blockchain network behind cryptocurrencies, players can be assured of the privacy of their data. The online casino account holder’s identity and bank details are always preserved as millions of devices are needed online to complete a transaction.
- volatility – Thanks to the constant movement of this type of financial asset on the market, cryptocurrencies can become very expensive at certain times, but the opposite can also happen. Therefore, it is not enough to just want to open an account and start betting with cryptocurrencies, it is necessary to know the right time to use them. Knowing exactly the benefits of each cryptocurrency and its potential risks can help you succeed in online casino games.
Online casinos that accept cryptocurrencies
We already know how the financial market has accepted cryptocurrencies as a form of payment in online casinos. But now, how can you find online casinos that accept cryptocurrencies as a payment method? To make life easier for players, we have listed some of the most popular and recommended casinos.
Note that an online casino was on our list, it had to undergo a rigorous audit before being licensed by one of the online casino gaming authorities such as the Malta Gaming Authority (MGA) and the UK Gambling Commission (UKGC).
- 22 Bet
- Vera and John
- BC. Game
These are some of the trusted places where you can make deposits and withdrawals with cryptocurrencies.
How to choose a casino that accepts cryptocurrencies
In addition to what we mentioned earlier about the safety and reliability of online casinos, there are other factors that can help you choose an online casino, especially if you want to use cryptocurrencies.
You should consider factors such as the number of online casino games available, i.e. whether the online casino has a portfolio of new and classic games, including video slots and progressive jackpots. Also check if there is a live casino with tables for roulette, baccarat and other games available to you.
Another important detail is customer support. You should know how customer support works and how to contact them before opening an account, so you can be sure of the site’s commitment to its customers.
Now that you know all about online casinos that accept cryptocurrencies, all you have to do is find a casino that suits your needs and start playing.