Online casinos are quick to follow the times and trends and incorporate innovations in technology. One type of casino that’s become popular is the cryptocasino, which is much like a regular online casino but features several important differences: cryptocasinos accept digital currencies for deposits, wagers, and withdrawals — it’s their main method of payment, in fact — transactions are faster, and, because they harness blockchain technology, playing at cryptocasinos is more secure. Below is an overview of what makes cryptocasinos more affordable than standard online casinos, why people play at cryptocasinos and abandon traditional online casinos, and how regular online casinos can retain players.
The affordability of cryptocasinos
If you enjoy casino gaming and wish to save money, cryptocasinos are a viable option. The use of digital currencies allows players to avoid the intervention of intermediaries when transferring funds. This not only allows a faster transaction, but players also avoid the fees their intervention incurs.
Additionally, whereas dollars, euros, and other fiat currencies have borders, cryptocurrencies don’t, so cryptocasinos enable players to avoid currency conversion commissions. This makes cryptocasinos an attractive option for players from overseas, especially if they can’t access traditional banking where they are.
The appeal of cryptocasinos
Saving money on gaming isn’t the only reason people are flocking to cryptocasinos. Playing at cryptocasinos is secure because of their use of blockchain technology, which records all transactions on a public ledger. This transparency reduces fraud and enhances security.
Not only is playing at a cryptocasino secure, but it also offers extra privacy that standard online casinos don’t. The use of crypto provides anonymity. It’s harder to trace winnings back to players or to work out how much they won.
Of course, one of the biggest appeals of cryptocasinos is the speed and lower cost of transactions. Withdrawals are almost instant and commission-free, whereas at a standard online casino, it can take the bank days to process the transaction, and they or a digital wallet might also charge a commission. This is where standard online casinos are really losing players, who want their winnings back fast and in their entirety.
The security concerns at regular online casinos
When playing at a standard online casino, security is more of a concern for players because they provide personal data and, unless they’re using a digital wallet, financial information. The sites and games’ digital nature makes them susceptible to hacks and unauthorized access. The transparency of digital currency operation makes cryptocasinos more secure, although regular operators take security very seriously and implement encryption protocols to protect players’ personal and financial data.
Fighting back: measures online casinos can take to retain their players
Cryptocasinos may be appealing, but that doesn’t mean standard online casinos are powerless to do anything. They can take several measures to stop players abandoning them for cryptocasinos.
Higher payouts
Online casinos are renowned for having lower overheads than traditional brick-and-mortar casinos, so they can pay out more. Providing games that have higher payouts than cryptocasino games, so that withdrawal fees, currency conversions, or other fees eat less into players’ winnings is one option. One way to find these is by visiting an online casino review site, Casino.ca ranks the high paying in Canada so that citizens can start playing at the casinos with the highest payouts sooner.
Generous promotions and bonuses
Again, regular online casinos can take advantage of their lower overheads to offer generous promotions and bonuses, including loyalty programs, and dampen players’ urge to play at cryptocasinos. Free spins, no deposit bonuses, and sizable matches are all options.
Emphasising status as a regulated, licenced operator
Cryptocasinos may offer a chance to save money when withdrawing winnings, but they operate in a largely irregulated market, whereas trustworthy operators have a licence, can testify their games are fair, and inform people they’re regulated. Standard online casinos can reassure players by highlighting these credentials and offering further transparency by clearly displaying contact details and providing responsive customer service.
Tight security
The blockchain technology implemented at cryptocasinos makes them incredibly safe in terms of protection of players’ details. Online casinos employ sophisticated encryption technology to prevent hacks and unauthorized access. They can reinforce security further by setting up multifactor authentication (MFA) or biometric identification for accounts. They may even consider making cryptocurrency a payment option so players feel safer when crediting their accounts or making withdrawals from them. Some already are.
The emergence of cryptocasinos has created strong competition for standard online casino operators. The absence of fees makes them attractive to casino gamers. However, regular online casino operators have some powerful attributes in their favour to appeal to new players and retain existing players, such as their credentials as trustworthy operators and the promotions and offers they can run for players.
