Cryptocurrencies and slot machines – a perfect storm?

If you love slots and play regularly in online casinos, you may have noticed that cryptocurrency is becoming increasingly common and is accepted in many online casinos. Cryptocurrencies are extremely convenient for players as you don’t need a credit or debit card or even a bank account for that matter to make unlimited and instant deposits into your online casino account. Does that mean Cryptocurrencies are the best payment method for playing slots? They’re certainly beneficial for a lot of players, but let’s take a look at the pros and cons so you can decide for yourself if this currency is right for you when you play at freeslotsites.com.

What cryptocurrency should I use to play slots? 

There are numerous cryptocurrencies to choose from and the majority of players prefer to play it safe with a successful and well-established currency and choose from the top 10 list of cryptocurrencies. A cryptocurrency and its value are guaranteed only by its users, so in choosing a cryptocurrency and using it to play slots, this makes the cryptocurrency more stable. Cryptocurrencies are accepted in hybrid casinos who accept cryptocurrencies among other more traditional depositing and withdrawal methods and there are also Crypto-casinos which only accept cryptocurrencies and no other depositing methods. 

Advantages of using cryptocurrency to play slots 

Some of the key drivers in players using cryptocurrencies are that they can offer unrivalled benefits including instant, security as well as Internet of Value. However, the benefits of using cryptocurrencies like Bitcoin and Ethereum to play slots is also worth noting. A lot of players prefer anonymity when playing – for example, people who don’t necessarily want their gambling history being examined when they’re applying for a mortgage! Blockchain-based currencies mean players can have complete anonymity as players don’t need to provide their personal details apart from your wallet number to link your online casino account to your cryptocurrencies account.  

You are required to ensure your payments are secure so that nobody else can log into your account and withdraw your winnings. Well, with cryptocurrencies, you only need to provide the number of your wallet! In comparison to traditional payment methods where you won’t see your money in your account following withdrawal for 3-5 working days, cryptocurrencies offer super-fast and even instant withdrawals, so you can enjoy your winnings faster. You can also play wherever in the world you are with Blockchain technology via crypto-casinos. Low or zero fees are another advantage to using cryptocurrency as there are no third-party service charges to pay for and there are no limits to your transactions.  

Cryptocurrencies are always great news for online casinos as it has helped them to significantly increase their revenue, meaning they can offer even more generous bonuses.  

Drawbacks of cryptocurrency 

It’s not for everyone and there are some flaws to using cryptocurrencies, although for most players the positives outweigh the negatives. Drawbacks to cryptocurrencies include there are a limited number of reliable cryptocurrency-only sites and hybrid casinos which offer other payment methods mean giving up your personal info, as well as the volatility of cryptocurrencies.