Digital assets have many undeniable benefits that make them excellent for the gaming sphere.
Experts from the Bett-Market company provide comprehensive research on electronic money. We will explain the main peculiarities and benefits of using cryptocurrency in the amusement industry. At our studio, you can order a turnkey gambling project on favourable terms.
There are several advantages of electronic money in the niche, for example:
All crypto operations are encrypted. You can view only the numbers of wallets between which digital money is transferred. Users register under pseudonyms and do not need to provide identification data
No double conversion
Such an operation can occur in different cases. For example, when an owner of a UAH wallet wants to wager in US dollars, and the online casino accepts euros. With electronic money bets, there is no need to change the currency
All transactions with crypto tokens go through a decentralised environment — Blockchain. Thanks to the technology, funds are transferred directly from the owner's wallet to the operator's account, and without intermediaries.
Banks do not participate in the trading process, cannot check transactions, or slow down the movement of funds. As a result, all transfers are faster than usual
Since banks do not deal with Bitcoin, they are not involved in the trading process. Therefore, these institutions cannot charge a commission for carrying out such operations. It also reduces users’ costs
Blockchain contains records of all transactions. In case of difficulty, the parties of the conflict can check all the data on the operation
The crypto storage is highly protected. Hackers cannot take possession of the funds without a password. And the complex identification procedure nullifies all their efforts.
Even if the online casino database is hacked, the scammers will get only the administration's funds
With cryptocurrency, players from any country can participate in wagering activities, even where the industry is prohibited. All digital assets are created not by the state, but by users, so anyone can place bets
Impossibility to freeze the wallet
The authorities cannot block cryptocurrency accounts, since they do not store fiat money. E-wallets are created without the participation of government agencies
Digital assets in web casinos attract special attention from the authorities for a few reasons:
The lack of regulation. Japan is now almost the only country to give Bitcoin the status of an official means of payment. The rest of the world does not introduce any regulation of electronic money. In many states, Bitcoin is not subject to the rules of the Central Bank or other currency control authorities. In addition, there is no tax base, and such a decentralised structure of digital assets worries the governments of many countries.
The impossibility of verifying the age, location, and other details of the wallet owner. Due to the anonymous nature of crypto operations, no state can check this information. The owners of e-wallets can be both persons under the age of 18 and criminals or even citizens of those countries where bookmakers and wagering activities are prohibited.
Electronic money is gaining immense popularity in various business spheres. Such benefits as transaction speed, anonymity, and high safety are vital for the gambling industry. Many casino punters choose this particular payment method for quick deposits and prize withdrawals.
Bett-Market helps launch and develop gambling projects on the Web. Our specialists offer wagering platforms with the latest payment systems, including crypto wallets.