Traditionally, a typical online casino will ask for a copy of your personally-identifiable document to verify your identity. The reasons for this range from double-checking that you’re old enough to gamble, that you’re not self-excluded, to combat money laundering, and so forth.
The issue is, not everyone is comfortable with the idea of handing over such sensitive personal information due to concerns of potential abuse, fraud, or identity theft. Another reason is that the local lawmakers may not be in favor of gambling so you’d rather not have your name associated with it due to fear of persecution.
Luckily, there is a solution. Stick around to find out what it is!
The rise of crypto casinos
Nowadays, many online casinos offer cryptocurrencies as a method of payment and there’s a good reason for it. You’ve guessed it – it’s anonymity! In addition to that, crypto transactions are not subject to approval by a third-party financial institution, which means you can start betting in minutes after your initial deposit.
Of course, you’re going to need to learn how a crypto wallet functions first, which can be a bit of a learning curve. The good news is, there are plenty of online tutorials that will teach you everything you need to know. Plus, it’s completely free to create one!
The different types of crypto casinos
There are different types of crypto casinos that mainly fall into either one of the following categories:
– Full crypto casinos
– Casinos that accept cryptocurrencies alongside other payment methods
The first type is self-explanatory. However, there is one thing you need to keep in mind with these – the value of your bankroll is constantly affected by the fluctuating crypto market prices, whereas the second type of casinos will typically display it in dollars. In other words, although these casinos may allow you to make a deposit using crypto, the funds will immediately be converted to fiat currency.
Other than that, both of these will typically display some kind of gambling license to trust in people, an example of which you can see in this review of Bitcasino. To uphold it, a casino needs to adhere to transparency and fair business practices. Keep in mind that gambling licenses like these are not only costly to obtain and come with a hefty list of criteria, they can also be revoked at any time.
Summarizing the benefits of crypto casinos
Before we conclude, these are the key takeaways of why you should consider playing at one of these establishments:
– Anonymity. You won’t be asked for a document scan.
– Fair practices. Just like a regular online casino, the best of the bunch will happily display a license issued by a reputable gambling regulator.
– Transaction speed. Since crypto transactions are fast by design and do not require approval by a third-party financial institution, you can get started within minutes.
– Game variety and better payouts. Compared to traditional online casinos, you’ll find that the crypto kind tend to have a wider selection of games and better payouts, with some boasting an RTP as high as 99%.
To answer the question posed in the title, anonymous online gambling has now become a reality thanks to crypto casinos. Now, it’s up to you to find the best one and play to your heart’s desire!