Now that online casinos have been around for more than a decade, it’s no surprise to see that there are more innovations in place. Each year, new digital techniques are used to make the online gambling experience even better. To begin with, this was improved game technology and the introduction of live dealer games. Now, it’s turned to safety, security, and speedier transactions through cryptocurrencies.

What is cryptocurrency?

Cryptocurrency is a decentralized digital payment system. There is no need for a bank to verify the transaction. Instead, as it’s peer-to-peer (P2P), users can simply send and receive payments between themselves. No physical money is carried or transferred either, it’s all digital.

The currencies (there are now many of them), are all stored on the blockchain which keeps a ledger of each specific transaction. This ledger is public and cannot be modified. High-level encryption protocols are used to verify transactions between the ledger and the digital crypto wallet where the coins for each person are stored. Wallets all have keys which users must keep safe, secure, and private so that no one else can get hold of their crypto.

How crypto works at online casinos

These days, there are hundreds of casinos out there all offering different payment options. Many of these are centralized currencies, which is not always the ideal for players. And this is where crypto comes into play. Right now, there are many different crypto casinos out there, and these can be easily found when using platforms like Casino-hrvatska.com.

Using crypto for a deposit or a withdrawal works in the same way as any other payment method. Players simply need to link their crypto wallet to the casino to make the transactions. Any winnings will be transferred in the same currency to the player’s wallet.

Security

Where crypto stands out from the crowd when it comes to its fiat counterparts, is in security. For those who are concerned about providing personal details to a casino, crypto is the solution. There is no need to provide any details whatsoever as transactions are all done via the wallet. On top of that, transactions are made through the blockchain which offers transparent, secure transactions. Privacy is also provided as players do not need to provide any personal details at all. As such, they can remain completely anonymous online.

Speed

Another major plus is that crypto is fast. This is not just for deposits, but for withdrawals as well. Cryptocurrency transactions are some of the fastest out there. The only part that takes time is the confirmations, which differ across cryptos. It’s still short and usually transactions won’t take longer than a few minutes — a hugely popular option when it comes to withdrawals.

Accessibility

Finally, cryptocurrency transactions mean greater accessibility on a global scale. With online casinos accepting players from many countries, the use of crypto makes everything more accessible. In addition to that, no currency conversion charges need to be paid.

In short, crypto has really helped make online casinos more appealing and effective to a wider player-base.