Online poker is one of the biggest gaming industries in the world. With millions of dollars being played for every single day, it is vitally important that whichever payment method is used for withdrawal is reliable, quick, and safe. The majority of poker players continue to use traditional payment methods. They either opt for a renowned eWallet such as PayPal or Skrill or simply transfer their funds via their internet banking provider. This is all well and good, but it often comes with lengthy pending periods and hefty fees. This is why an increasing number of players are exploring the option of cryptocurrency.
Before we explain why, let us first define what cryptocurrency actually is. It is a revolutionary form of money that has enjoyed increased prominence over the past few years. Based on blockchain technology, it is a digital form of currency which is issued and traded by decentralised bodies over the internet. It was initially treated with suspicion but is being accepted by more and more online casino operators every month.
Due to their non-traditional nature, the currencies offer a shed load of benefits to online poker players. Most notably, the use of cryptocurrency increases players’ security. Blockchain protocol offers far superior security to any other form of payment which suits it perfectly to internet gaming. While most operators spend a fortune to keep players’ personal data and payment information safe, sophisticated hackers have occasionally broken these walls of defence and scammed players. With cryptocurrency, this is far more difficult to do.
Cryptocurrency also gifts players additional security by keeping their details completely anonymous. With traditional methods of payment, users have to provide their name, address and in some cases a valid form of ID. This can be irritating for players who prefer to keep these things private to protect themselves in the case of security breaches. With cryptocurrency, gamers can enjoy online poker with complete anonymity.
By withdrawing their winnings in cryptocurrency, many online poker players using sites like Crypto Brazino777 are viewing it as an investment in their future. Crypto has exploded in value over the past few years. This means that by winning a certain amount of bitcoin or other cryptocurrency today, the value of those takings are likely to be worth far more in a few months’ time. Savvy poker players are therefore exponentially increasing the value of their prizes.
Another reason for cryptocurrency’s spike in popularity is the convenience it offers poker players. When trying to withdraw their winnings via bank transfer of eWallet the process is cumbersome. This is because casino operators withhold the player’s winning for a pending period. Even when funds are released, they can be subject to further checks from banks. With cryptocurrency, the player’s funds are decentralised and can be withdrawn quickly and securely without all that waiting.
Overall, then, cryptocurrency offers online poker players a long list of advantages. While the use of such payment methods remains fairly limited right now, we predict it won’t be long until it takes over the internet gaming world.