Withdrawal Times for Regular Online Casinos versus BTC Casinos

    Bitcoin Guide

    Over the years, the gambling industry has seen a paradigm shift from conventional brick and mortar casinos to online casinos, thanks to the advent of various internet technologies. The convenience that the internet platform brings makes online casinos more enticing to both novice and regular gamblers – the allure of making money from playing online games is more than attractive to gamers worldwide. Gamers are able to make deposits to various casinos and withdraw their winnings in a safe and secure manner.

    The race to gain more customers led to the birth of a new type of online casinos – Bitcoin casinos. These types of casinos use a form of crypto currency and a secure payment system for all transactions between gamers and the online casinos, without the need for an intermediary. All transactions are peer to peer, and do not need regulation from any financial authority. To claim your winnings, you need to have a virtual wallet and a password to access your virtual wallet. Once you receive your money, you can send it to other individuals anonymously or you can deposit it into your wallet directly.

    As much as playing online casino games can be exciting, you, as a gamer, need reassurance from casino companies that all your cash deposits, as well as winnings are secure. In the same line, withdrawal times for winnings should be as fast as possible, to enable winners to enjoy their lucky day. The winnings should reflect on the account of a gamer as soon as the game is over. Quite a number of casinos are embracing the idea of faster withdrawal times to ensure they have a competitive edge over their rivals. Online casino companies that have integrated faster withdrawal times in their systems are more popular among gamers than casinos that do not have this feature.

    There is a great disparity between withdrawal times for regular online casinos versus Bitcoin casinos. Faster withdrawal times translate to more gaming opportunities for online casino gamers. While the former uses common currencies and conventional payment methods, the latter uses crypto currencies. With regular online casinos, all transactions have to pass through an intermediary since a financial authority regulates the currencies in use. This translates to slower withdrawal times and, in some instances, gamers are obliged to accept taxes on their winnings. Additionally, it may be necessary for you to convert your winnings into your local currency. This may either increase or decrease the value of your winnings, depending on the current exchange rates.

    Crypto currency casinos have faster withdrawal times in comparison to regular casinos. Firstly, all transactions take place directly between entities, as no financial intermediaries exist. Additionally, all transactions are anonymous, meaning that you will not pay taxes or any exorbitant fees that financial authorities often charge. While financial processors charge 3% onwards as transaction fees, crypto currency transaction fees do not surpass 2%. In most cases, the transaction fees are nil.

    Most of the regular online Casinos take relatively long durations just to process your withdrawals. A request for withdrawal needs to be backed up by a copy of your identification details such as an ID or passport, and you also need to provide proof of address using either a credit card bill or bank statement that is not older than three months from the day of request, and a copy of your credit card. Furthermore, your withdrawal times may be affected by your loyalty level, type of currency and withdrawal method used.

    For you to enjoy faster withdrawal times and attractive payment rates, consider signing up with any reliable crypto currency online casino. You will not only enjoy faster withdrawal times, but also tax-free payments in a safe and secure manner. In fact, most online casino companies have taken up this concept, as it is more attractive to prospective clients. All transactions are direct and anonymous, meaning that you will not be subject to any external control such as financial institutions or the government authorities. Additionally, some casinos that use this concept do not require you to register anywhere, thus, upholding your privacy and integrity.

    In as much as online gaming has its benefits, it is advisable to opt for crypto coin casinos since they have far more advantages as compared to their regular counterparts.

    From the category

    5 of the Best Crypto Tax Calculators

    17.02.2020 By james-donaghue

      For those of you looking for a Bitcoin tax calculator, read our comprehensive guide covering what are considered to be the 5 top crypto calculators ...

    Guide: Join Hundreds of Cryptocurrency Traders & P...

    07.01.2020 By james-donaghue

    Imagine being able to trade crypto for a living while also playing blackjack, sports, and make intelligent bets and getting the best possible ROI on y...

    What To Do If Your BTC Wallet Has Been Hacked?

    16.07.2019 By mbitcasino-team

    One of the greatest strengths of cryptocurrency sometimes plays out to be its greatest undoing. If you are a Bitcoin user, one of the reasons you pref...

    Mt Gox CEO to Face Trial

    11.07.2017 By mbitcasino-team

    At one point not too long ago, a site by the name of Mt. Gox was one of the leading Japanese Bitcoin exchanges. Responsible for millions and millions ...