Why does your online casino need to accept cryptocurrency?
Crypto payments in iGaming
Cryptocurrency is a fresh wind and a new word in today’s economy. Every day, more and more large companies turn their eyes towards the blockchain and announce the acceptance of payments in cryptocurrency. The gambling industry is no exception. A lot of operators now accept both crypto and fiat money, and some of them сompletely switched to crypto. Let’s consider what are the arguments in favor of introducing crypto payments into the iGaming platform.
Currently, cybercrime is a huge problem of internet gambling. Due to it, players often don’t feel safe and comfortable, while using their bank cards in virtual casinos. In order to keep their customers, operators are constantly taking measures to protect players’ funds and combat crime. At the same time one of the best ways to do it is to start accepting crypto payments. To conduct transactions with virtual currency, you do not need to provide any banking data. In addition, any operation in the blockchain is transparent and publicly available. It cannot be erased from history or changed, since the blockchain is a decentralized system. This is what makes cryptocurrency the most secure method of money transfer for today.
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Any website, including a gambling one, should first of all be understandable and convenient. As such, it is essential for a virtual casino operator to offer players the ability to make deposits quickly and easily. Bank cards and digital wallets do their job well, but many choose crypto transactions. And if you don’t want to miss out on some of the customers who prefer the last option, why not add crypto acceptance? The more features your platform offers, the more customers it will get.
Fiat transactions often take quite a long time, unlike cryptocurrency ones. The transfer of a crypto money takes place in a matter of seconds, in addition, it is simple to complete and often associated with lower transaction costs than in the case of conventional money. Thus, the cryptocurrency gives the possibility of simple and quick transfers of funds with a minimum (or even zero) commission, which saves time and often money for the user. 선물옵션 is very good investment option for making money.
Cryptocurrency is the money of the future (that is how we think for now at least). It is rapidly developing and blooming technology, which attracts the most advanced and modern admirers. By accepting virtual coins you can show your customers that you keep up with the times and aren’t afraid of innovations. This approach will highlight you among competitors and satisfy the needs of different customers.
Another advantage of cryptocurrency is the privacy of its users. By making cryptocurrency gambling deposits, players can be confident that no data will be shared with banks or other financial or government institutions. This gives your customers such an important anonymity guarantee.
Are crypto casinos legal?
The legality of accepting crypto payments by operators varies by jurisdiction. In some of them, for example in Costa Rica, you can run a bitcoin casino even without a Costa Rica gambling license. In others – Curaçao, Malta, Kahnawake, Gibraltar, etc., you need to get a regular gambling license. There is no special algorithm for applying for a crypto-permit, all requirements and documents are usually the same as for platforms that accept fiat money. Nevertheless, before choosing a country to apply for a license, we recommend that you carefully read how loyal the authorities and legislation of the jurisdiction are to cryptocurrency, what are the conditions for working with it, and what are the requirements for operators regarding AML and KYC policies. It can be complicated to cope with this on your own, so sometimes it is best to seek help from specialists.
How can we help you?
LicensingAid is a team of professionals who know everything about iGaming. We can provide you with full support on your way to building a successful gaming platform. Our services:
- legal advice on the choice of jurisdiction
- assistance with company registration, bank account opening
- assistance with collecting documents and applying for a license
- assistance with AML policy compliance
- design and trademark consultancy
As you can see, our help can make it easier and faster to launch your crypto casino. Feel free to contact us if you need support or additional information.