Pros and Cons of Gambling with Cryptocurrencies
Unless you’ve been living under a rock for the past 5+ years, then chances are you already heard about Bitcoin, and probably about other cryptocurrencies as well. However, did you know that many online casinos embraced crypto gambling and accept various cryptocurrencies as a payment method? In this article, we’ll explore the main advantages and disadvantages of playing online casino games with cryptocurrencies. It’s up to you to decide whether they are worth a shot or not.
Advantages of Cryptocurrency Gambling
The major advantage of crypto gambling is the convenience of using cryptos. If you already own some BTC, depositing it to a casino has never been easier. All you have to do is select BTC as your preferred payment method, enter the amount you want to deposit, and scan the QR code with your wallet. The payment will be executed immediately, and your funds should be available in your casino balance in no time.
Cryptocurrencies are also affordable. Since they are decentralized, there are no high fees for making crypto transactions. This applies to all USA online casinos that accept them.
Cryptos are also very secure. They are based on blockchain technology, which is virtually impenetrable, making your transactions safe & sound.
Finally, cryptocurrencies have much better limits compared to other payment options. In other words, you can deposit and withdraw thousands of dollars worth of cryptos from online casinos. Other payment methods have much less favorable limits.
Disadvantages of Cryptocurrency Gambling
However great, cryptocurrencies aren’t perfect, and that’s the reason why many people still refrain from using them.
The biggest drawback for most cryptos nowadays is that they are very volatile. Their price changes almost every second, and one day a $1000-worth of cryptos could go down to just $100 and vice versa. The high volatility of the crypto market means you have to be prepared to make a double-gamble when you use cryptos for deposits and withdrawals.
The second big disadvantage is the lack of mass adoption. The only cryptocurrency that’s present in many casinos is Bitcoin. Other cryptos are still nowhere near the popularity of BTC, so you’ll have trouble finding the right platform for them.
Now that you know the pros and cons of using cryptos for online gambling feel free to decide whether they are worth it or not.
In case you want to check out other possible payment options, make sure to read our USA casino reviews and learn what other methods are accepted by online casinos that are available in America.
