All online casinos offer a wide range of payment methods and most provide the use of fiat or in other words traditional currencies such as euros, dollars, and similar. With the development of blockchain and cryptocurrencies, more online casinos are starting to offer the use of cryptocurrencies to play crypto games online. The most popular cryptocurrencies are of course Bitcoin, Litecoin and Ethereum.
There are countless cryptocurrencies but most known and used one is Bitcoin. The biggest upside of cryptocurrencies is anonymity which means that players get to buy and spend them without providing their personal data. Additionally, since they are based on blockchain, the transactions take a couple of minutes instead of days and the transaction fees are slim to none. Blockchain is a decentralized ledger meaning there is no central authority such as a financial institution that governs all of the data and that people pay through transaction fees and wait through the processing time.
Otherwise known as fiat currencies, most known is certainly the US dollar, European Euro, and almost every country in the world has its own fiat currency. These currencies are old and provide people with certainty and they are not unchartered areas like cryptocurrencies which is why a lot of people stems from dealing with crypto, just like many people stem from making changes in their lives, be those good or bad, people fear the moment when everything changes. They love to anticipate that moment but not actually experience it.
The biggest concern and issue that most people have with traditional currencies are lack of privacy and fear of security because dealing with fiat means providing their personal data, bank account details, and much more and all of that on an online website.
How to Choose
A lot of people believe that they have to pick one currency type and stick with it whilst in fact, they can use as many as they want. For example, there are online casinos that offer both types of payment methods whilst some offer just one or the other. Having and using both of the currencies will only expand the player’s possibilities.