SOFTSWISS Casino Platform Launches Currency Exchange Feature – Gambling Industry News Europe

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Cryptocurrency is a type of virtual currency that uses special cryptographic technologies to create and protect it. Cryptocurrency has not been unusual in recent years. Just over 10 years have passed since the appearance of the first digital currency. At that time, this type of currency became close to billions of people. And the number keeps growing. Moreover, the leaders of many countries have noticed its investment potential. Nowadays, cryptography can be used to buy various goods, pay restaurant bills, transfer in payment for services rendered and much more.

The logical result is the introduction of cryptocurrency in online casinos. Above all, no KYC online casino appreciated this new payment method, and, as you can learn casino-instructions, there are several on the market. So to speak, its use as a payment instrument has become a major trend in iGaming. Players are attracted by the decentralized nature of the currency, its security, its independence from state authorities and its absolute anonymity. All of these things combine to give the kind of comfort that each of us needs. All crypto casinos can be conventionally divided into two types. The first is a full-fledged digital casino. In such an institution, financial transactions are only carried out with digital “currency”. The second option is called a hybrid option. It offers fiat and digital currency payments.

Cryptocurrencies offer a high level of anonymity

As soon as cryptocurrency became widely known, many players started choosing blockchain casinos. It is 100% anonymity that attracts users from different parts of the world to place bets. Whenever another transaction takes place between crypto wallets, players are assured of its confidentiality. No regulatory authority can trace the financial flows of each taxpayer in its country. Yes, it is possible to track where virtual funds are spent from a wallet linked to a specific person if desired. But, first, it does not reveal the full identity of the individual in question. Secondly, in the absence of advanced technical knowledge in this field, it is impossible to conduct such research.

For added anonymity, Bitcoin casinos often offer the fastest registration possible. If you come across an internet casino that requires a username, email address and password to create a wallet, you are a typical casino that asks players to remain anonymous. Some operators are even more faithful to this procedure. There are casinos where you can create an account with just one click. But even that is not all. Some providers use innovative solutions even in the field of registration. In particular, you can come across sites that create a pre-account. To turn it into an account, you need to provide a system-generated username and, for example, an email.

Another positive thing about crypto casinos is that there is little to no verification. This attractive quality is still fundamental for those who do not accept the disclosure of their identity within the World Wide Web. To play games from the library of the operator, you do not need to upload documents, enter data or wait for a response from the administration of the institution regarding the verification result. Sign up, make a cryptocurrency deposit and play. Awesome! This trend is also true for cryptocurrency customers at a regular online casino. There are situations where the terms of use of the site provide for a verification process. It is required in exceptional cases. These are cases where the administration suspects the client of carrying out fraudulent activities.

Deposits and withdrawals are much faster

The crypto casino in terms of payments is based on the use of a single program. Some actions are included in it. They are activated when the conditions stated in the smart contract are met. These same conditions must be clearly stated. In simple terms, the obligations of both parties to the contract are fulfilled according to the formula “If…then…”. In fact, it turns out that in case of winning, this amount is automatically transferred to the crypto wallet. The interference of intermediaries and banks is eliminated in the process of such transfers. Due to this, the waiting time for funds is reduced from 3-7 days (as often happens when using conventional payment systems) to a few minutes. Another advantage of using cryptocurrency is low or no commissions. And do not forget that the blockchain is designed in such a way that no operator has the possibility to limit the deposit amount.

The speed of transactions, surprising as it may seem, is influenced by the name of the cryptocurrency. The slowest transfers occur when using Bitcoin. It is the most expensive, popular and slowest currency. In terms of rationality, Bitcoin is not the best choice among cryptocurrency currencies. Sometimes it can take up to a day to receive funds. The second most popular bitcoin currency is Ethereum. Even during the busiest times on the blockchain, the money arrives in the wallet within half an hour. During the “downtime” of the system, you can talk about a few minutes to complete a transaction. It’s a very good thing to have. But there is a “but” – the amount of commission may vary. Sometimes they are quite large. And another of the most popular currencies is Litecoin. This is the currency on which I am ready to advise you. It delights with very fast transfers – up to a few minutes with low commissions. It’s exactly what you need for instant deposits and withdrawals.

Crypto casinos are the future. The stifling of the total transition to the digital world is largely due to the fear of the unknown for many actors. It only takes one crypto transaction to understand its simplicity. In this case, the instructions and diagrams published in the information section of the casino website can help you. All you need to do to complete a transaction is provide your wallet address, transfer amount, and authentication key. Gambling clubs that offer cryptocurrency payments control all financial transactions. Whether it is the history of bets, amounts, winnings or any other monetary activity, it is impossible to falsify this information. As a result, you can always be sure that the casino will not deceive you.

Many more games are available at crypto casinos

While there is a difference between blockchain and regular slots when it comes to payouts and anonymity, the gaming part is no different. Bitcoin casinos offer an equally impressive selection of slots, table and card games, video poker, craps and craps. This suggests that in addition to all the benefits of using cryptocurrency, you have access to a huge library of games. Moreover, some sites offer such a large selection of games that many traditional casinos cannot boast. For example, one of the biggest gambling sites, 7BitCasino, offers over 5,000 titles. Most of them accept bets in cryptocurrencies. Thus, video slots that support cryptocurrencies are offered in more than 1,000 models, table games (roulette, blackjack, baccarat, sic bo) based on RNGother models (bingo, scratch cards, wheel of fortune, etc.) several hundred more.

So why does the number of Bitcoin games continue to grow? The answer is obvious: the potential of digital currency is visible not only to operators but also to the providers themselves. More and more studios are adapting their developments for the blockchain, which means that their selection is also expanding. For example, the number of rooms where real dealers accept bets, including in bitcoin, has increased significantly in recent times. Crypto-gaming is characterized not only by large numbers but also by diversity. A variety of plots, the use of innovative techniques and variations of game types.

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