You may have played in an online casino before where you have used a debit or credit card to fund your bankroll. If you have cryptocurrency, it’s not new news that you can utilize your investments to fund your bankroll at crypto casinos! Let’s learn more about these entities, how they became popular in New Zealand, and how they benefit casino gamers.
What Are Crypto Casinos?
New Zealand crypto casino online platforms accept cryptocurrency payment options such as Bitcoin and Ethereum that are stored in bettor’s crypto wallets that can then be transferred to their bankroll. For diversity in how they are able to accept payments, crypto casinos also accept other forms of payment besides cryptocurrency such as debit cards, credit cards, electronic wires, and virtual wallet payment solutions such as Skrill. These entities also utilize blockchain technology to guarantee safe transactions when depositing into one’s bankroll and reassuring overall fair gameplay measures for all bettors.
How Crypto Casinos Became Popular In New Zealand
The exact time frame in which New Zealand introduced cryptocurrency as a payment method for a bettor’s bankroll is not exactly clear. However, SatoshiDice was a crypto game in 2012 that was one of the many first to introduce provably fair gaming initiatives. Hence, it had to have been sometime in the 2010s that New Zealand casinos transitioned over to accepting cryptocurrencies as a payment method because of crypto gambling becoming more prominent worldwide.
The Benefits for Crypto Casino Players
Crypto casino players reap many benefits of utilizing their crypto wallet to fill their bankroll rather than fiat currency. From quicker transactions to lower fees and access to crypto-exclusive games, it pays beneficially to wager with crypto rather than a fiat currency.
Quicker Transactions
The last thing you want to do when you are waiting to bet on your favorite casino games is to wait for your bankroll to get loaded. Using your crypto wallet to fund your bankroll or withdraw from your casino bankroll into your crypto wallet is a faster experience than using a debit card, credit card, or electronic wire as an alternative payment option. Sometimes utilizing one of the other payment options could cause delays because of processing times based on your affiliated bank.
Lower Fees
Filling your bankroll with a crypto wallet usually imposes less fees in contrast to paying with another option. Crypto wallets do not have intermediaries that have to be involved in financial transactions like banks have to be involved when processing a transaction with a debit card. This cuts out the middleman and makes it more financially convenient for crypto wallet holders to fund their bankroll because of lower transaction fees.
Access To Crypto-Exclusive Games
Some slots and other casino games on crypto casinos are crypto-exclusive only. This means that you can only utilize cryptocurrency to bet on the game while other casino games allow for fiat currency. If there are specific crypto-exclusive games that you want to play, be sure you are filling your bankroll with cryptocurrency to enjoy them.
More Privacy and Security
Depositing and withdrawing funds with a crypto wallet on a casino platform offers more security, encryption measures, and privacy than compared to utilizing another payment method. Your identity is anonymous when using a crypto wallet while more of your information is revealed to the casino and, unfortunately, possible hackers if you use a debit card or credit card.
Provably Fair Gaming Measures Thanks To Blockchain Technology
Crypto games allow for provably fair gaming whereas blockchain technology is used to reassure that each round of roulette, slots, or any other casino game that you play is totally fair. Such transparency is necessary when playing casino games of chance because fairness is utmost important in this industry space for bettors.
