Advantages and features of cryptology in the gambling business

Anonymity – all cryptographic transactions are completely anonymized. From the information available, you can only see the number of wallets the digital currency is being transferred from and to. Wallet owners are registered under aliases and do not provide any identification information. Thus, you can bet in online gambling such as without worrying about your identification information.

There is no double-conversion

A double-conversion can occur in various cases – for example, if the holder of a ruble bank card wants to bet in US dollars and online casinos settle with the bank in euros. As a result, the ruble is converted into euros, and then – into US dollars. This does not happen if bets are placed in crypt currency.

Speed โ€‹โ€‹of payments

All transactions with cryptocurrencies go through a decentralized environment – a blockchain. For this reason, the funds go directly from the owner’s wallet to the operator’s wallet, bypassing all middlemen. The banks do not participate in this process: they do not check transactions, they do not slow down the extraction of funds. As a result, all transactions are much faster than usual.

There is no commission

Since banks do not operate in cryptocurrencies, they are excluded from the transaction process. Hence, they can for such transactions do not charge commission. And that lowers user costs.

The ability to check payment history

A blockchain contains records of all transactions carried out. Therefore, in difficult situations, the conflicting parties can always check all the data on the business carried out.

Wallet security

The wallet of the owner of the cryptocurrency is securely protected. Hackers won’t be able to take possession of funds if they don’t have a password. And a complicated identification process will further undo all your efforts. Even if the online casino database is hacked, the scammers will only receive administrative funds.

Access from anywhere in the world

With the help of the encryption, players from all countries can take part in the game of chance – including those in which gambling is prohibited.

The impossibility of freezing the wallet

The state does not have the right to freeze crypt currency wallets as they do not contain fiat currency. In addition, the wallets themselves are created without the involvement of government agencies.