Cryptocurrencies came into the limelight sometime around when “Satoshi Nakamoto” released a whitepaper. The whitepaper details what the currency was all about.
At the time, the idea was for Bitcoin to serve as a “store of value.” It will help the investors to hedge against inflation and make more money.
Today, cryptocurrencies have gained mainstream adoption. This is because of the role played by institutional buyers. Many global payment processors are also accepting them as payment methods.
Can I Wager with Crypto in the EU?
The EU has not changed its stance on cryptocurrencies. This gives the idea that the country doesn’t consider them as money.
You can find some online casino operators in the EU accepting cryptocurrencies on 1×2 Apostas – Best Portuguese Bookmakers.
Some of the accepted cryptos are Bitcoin (BTC) and Ripple (XRP).
You will learn about the advantages of using cryptocurrencies to wager in EU online casinos.
1. Cryptocurrency Payments are Faster
The slow-paced transaction speed is one of the challenges. This is common when using an online casino designated in the EU.
The speed becomes slower when you are a player from a different country trying to access an EU online casino.
The reverse is the case when depositing or adding money with cryptocurrencies. The payments are faster because that is one of the uses of cryptocurrencies. For instance, depositing Bitcoin to your online casino wallet can only take a few minutes. The same applies to other cryptocurrencies, especially Ripple’s XRP. XRP is popular for the lightning network. This network sends money faster than traditional banks.
Cryptocurrency payments are also faster because you don’t convert to another currency. The global perspective of cryptocurrencies facilitates the instant deposit of funds.
2. Betting Limits are Typically Increased with Cryptocurrency Payments
Online casinos in the EU are continually in the eye of the storm. This is because of the overbearing influence of the authorities. These online casinos are sometimes prevented from going beyond a certain betting limit.
Thus, enabling cryptocurrency payments is a better way to tackle that. Aside from being universal, cryptocurrencies are most times free from government restrictions. This way, you can enjoy higher betting limits. You can even qualify for some of the VIP programs from online casinos. These reserves are for the high rollers.
3. Your Privacy is Guaranteed
Don’t want anyone to know that you are gambling? Using traditional banks and other popular payment methods can work against you. This is because the details of your transaction are available to third parties.
The same cannot be said of cryptocurrency payments. Whereby the details of the transactions are recorded on the blockchain.
Your privacy is fully guaranteed – meaning that no one would know the funds originated from you.
4. Enjoy Generous Bonuses
Online casinos in the EU attract more punters through bonuses. These are more like “free money.”
The bonuses are increased for new players who deposit money with cryptocurrencies. You will enjoy higher matched percentages on your deposits. This includes the Welcome Bonuses to Reload Bonuses.
5. Safety Payments
Cryptocurrencies use a decentralized architecture. This means that no one would have a monopoly over the payment system.
Deposits made to your EU online casino account will be confirmed in real-time and secured.
6. Spend Less on Fees
Banks charge you higher fees for wiring funds from your account to your online casino wallet. The same applies to credit and debit cards. They charge higher fees for helping you deposit money in an online casino account.
Cryptocurrency payments are your best option because of the lower fees. This also depends on the amount you are depositing to the betting account. The fees can range between a few cents and a dollar.
More so, you wouldn’t be paying maintenance fees to keep your cryptocurrencies active.
Final Thoughts: Cryptocurrency Deposits have More Advantages
Funding your online betting account in the EU via cryptocurrencies is worth trying. With the low fees and speedy transactions, you stand to benefit a lot.
Understand the cryptocurrency market is highly volatile and can fluctuate without notice.
This wouldn’t be an issue if you figured out how to hedge your risks and leverage appropriately.
Would you use cryptocurrencies to add money to your EU online casino account?