In April of 2023 the latest study of the best Australian online casinos by https://aucasinoonline.com was released, and 97% of Australia’s best online casino sites among Poli, PayID, Neosurf and Paysafecard, use Bitcoin & cryptocurrencies as payment method.
Australian online casinos are moving to cryptocurrencies. It is a fact in 2023. After all, crypto is a payment method that has many benefits for both players and operators alike. Bitcoin, Ethereum, USDT, Dogecoin, Litecoin and 300+ Altcoins offer flexibility and anonymous gambling experience.
Recently, there has been a growing trend of Aussie online casinos accepting Bitcoin and other cryptocurrencies. This is because cryptocurrencies offer several advantages over traditional fiat currencies. It’s important to note, however, that not all casinos have switched to cryptocurrencies. Some AU gambling operators (less than 3% of total casinos) are still hesitant to adopt crypto payment method due to its volatile nature.
So, what exactly are the benefits of using cryptocurrencies for Aussie gamblers? Let’s take a closer look.
How Have Cryptocurrencies Changed Gambling?
If you are a regular at online casinos, you’ve probably noticed that more and more of them are now accepting cryptocurrencies. While this trend is still in its early stages, it’s easy to see why cryptocurrencies are becoming so popular in the gambling world.
More Casino Bonuses, Free Spins and Cashback-Offers
Do you know, that, according to my experience, the most obvious benefit of using cryptocurrencies for gambling online in Australia is that you can often take advantage of special bonuses and promotions. Many casinos offer deposit bonuses, cashback, and other perks to players who use Bitcoin and other digital currencies.
For example, some casinos offer exclusive bonuses to players who use Bitcoin. These bonuses can be in the form of free spins, no deposit bonuses, and up to 20% weekly or daily cashback. So, it’s worth considering using cryptocurrencies if you want to get the most out of your gambling experience.
Last year, we saw a growing trend of casinos offering crypto-specific bonuses and promotions. This is likely to continue, so keep an eye out for these offers if you’re planning on using cryptocurrencies.
Anonymous Online Gambling
Playing at online casinos with cryptocurrencies offer a higher degree of anonymity than traditional payment methods. When you use Bitcoin or other digital currencies, your personal information is not shared with the casino. This means there is no risk of your identity being stolen or your account being hacked.
This fact also means you’ll need to be extra careful with your wallet and account details. If you lose your private keys, there is no way to recover your funds. So, make sure you keep them safe and secure.
Anonymity is one of the main reasons people use cryptocurrencies. This is especially true for those who live in countries where gambling is not legal.
Better Safety and Security Features
Cryptocurrencies are also much safer and more secure than traditional payment methods. Your funds are stored in a digital wallet when you use Bitcoin or other digital currencies. This wallet is protected by a private key, which only you can access.
Your funds are much less likely to be stolen or hacked. In fact, the only way someone could access your funds is if they had your private keys. So, make sure you keep them safe and secure.
Encryption is also used to protect your funds. Even if your wallet is hacked, your funds will still be safe. The technology behind cryptocurrencies is constantly evolving, so you can expect even more safety and security features in the future.
Faster Deposits and Withdrawals
Have you ever had to wait days or weeks for your withdrawal to be processed? If so, you’ll be happy to know this is not an issue with cryptocurrencies.
Cryptocurrencies are often processed much faster than traditional payment methods. Sometimes, your withdrawal can be processed in a matter of hours.
Apart from that, there are no deposit or withdrawal limits. So, you can transfer as much or as little money as you want.
Credibility and Fairness
Cryptocurrencies have also gained a lot of credibility over the years. They are now being accepted by more and more businesses, including online casinos. This is because cryptocurrencies are seen as a more credible and trustworthy form of payment.
This is especially true when it comes to fairness. Cryptocurrencies are often seen as being fairer than traditional payment methods. This is because they are not subject to the same fees and charges.
Previously, some casinos were accused of unfair practices. However, this is much less likely to happen with a casino that accepts cryptocurrencies.
Reduced Fees
Cryptocurrencies are also becoming more popular because they often have lower fees than traditional payment methods. You can avoid paying high transaction fees when you use Bitcoin or other digital currencies.
This is especially beneficial for those who make a lot of small deposits and withdrawals. With cryptocurrencies, you can save a lot of money in fees.
The fees are also often lower when you use cryptocurrencies to play games such as poker and blackjack. So, if you’re looking for a more affordable way to play these games, then you should definitely consider using cryptocurrencies.
Decentralization
How often do you hear about governments or banks intervening in online gambling? It happens more often than you might think.
However, this is not an issue with cryptocurrencies. This is because they are decentralized, which means there is no central authority.
Your funds are not subject to the same rules and regulations. So, you can rest assured that your money is safe and secure.
Although decentralization has its benefits, it also has some drawbacks. For example, there is no customer support if you have problems with your account.
Overall, decentralization is a good thing for online gambling. It gives players more freedom and flexibility.
Drawbacks of Cryptocurrencies
Although there are many benefits to the best Australian online casinos using cryptocurrencies, there are also some drawbacks.
The biggest drawback is the volatility of cryptocurrencies. The value of Bitcoin and other digital currencies can fluctuate a lot.
This means that the value of your funds can go up or down very quickly. So, you need to be careful when using them.
Another drawback is that there are not many businesses that accept cryptocurrencies. This means you might have to convert your funds into a traditional currency before using them.
Apart from that, there is the issue of taxes. Cryptocurrencies are not subject to the same tax laws as traditional currencies. So, before using them, you need to be aware of the tax implications.
Another thing to remember is that cryptocurrencies are not regulated by any government or financial institution. This means that there is no customer protection if something goes wrong.
Conclusion
Cryptocurrencies have definitely changed the online gambling industry. They have many benefits, including faster deposits and withdrawals, lower fees, and more credibility. However, there are also some drawbacks, such as volatility and the lack of businesses that accept them.
The announcement by the best Australian online casinos that they are moving to cryptocurrencies is definitely a sign of the times. It will be interesting to see how this trend develops in the future.
Overall, cryptocurrencies are a great way to gamble online. They offer more freedom and flexibility than traditional payment methods. So, if you’re looking for the best anonymous and secure online gambling experience in Australian, then crypto casino sites can be your best choice in 2023.