The introduction of Bitcoin online casinos and other cryptocurrencies has led to a massive leap in the popularity of online casinos. Players can enjoy secure, seamless play with open-source blockchain, which ensures secure, provably fair online gambling at all times.
With this having been said, many online casinos are sticking to fiat currencies, and at the very most amalgamating the two to create hybrid casinos. This is for several reasons.
Familiarity
Firstly the audience for fiat online casinos is much more prominent as the whole world can trade using traditional currencies such as Euro, Dollars, or Pounds. World currency is familiar, and players feel more secure in transacting us it. While the younger tech-savvy players are au fait with digital currency, there is still a large audience of online casino fans that aren’t.
Price Fluctuation
Bitcoin and cryptocurrency as a whole are inherently unstable in price. The market is known to fluctuate dramatically, making gambling with Bitcoin a gamble in itself. Players using Bitcoin at an online casino can even experience massive ups or downs within the time they are at the casino actively playing. Therefore that could win massively but lose massively on a Bitcoin downturn.
Fiat currency offers a much more stable transaction where players can be guaranteed that over a long period of time, fluctuation will be minimal, thus ensuring that they are getting what they paid for in terms of withdrawing funds.
Usability
It easy for players to deposit and withdraw with fiat currency as they already have it on hand. EFT or bank transfers are run-of-the-mill payment methods and take no transferring and converting. There is no need, like with Bitcoin, to open a wallet, go to an exchange to purchase BTC then deposit into the wallet. After that, players still need to deposit into a casino. The same applies to withdrawing and having to convert it back into everyday money.
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