The online casino games industry has gained immense popularity in India the recent decade. However, Indian players are finding it difficult to use online casinos at will, due to difficulties when it comes to making deposits and withdrawals.
In the past, e-wallets and bank transfers have been used as a medium of transaction in the online casino industry, but now there are other, better and more anonymous ways to deposit money to an online casino in India.
One of the most popular up-and-coming gambling payment methods in India is cryptocurrency.
Cryptocurrency is an intangible digital currency stored in an online wallet or a hardware wallet and is coded and protected by a series of algorithms. It uses cryptography making it impossible to tamper with.
Advantages of using Cryptocurrency in Online Casinos:
There are a lot of people who are not comfortable giving out personal details such as bank account details to online casinos. This is totally understandable. Fortunately, cryptocurrency provides a solution to this issue.
Using cryptocurrencies gives you complete anonymity. Furthermore, your bank and the government won’t know where your money is going. So if you are someone who values personal privacy, then depositing with cryptocurrency is definitely a good path for you.
Cryptocurrencies are protected by high-level mathematical coding and security thereby making it almost impossible to hack or tamper with.
This is particularly amazing for online casino players as they are sure to receive their profits with equal opportunities and also do good to casinos as the casinos are protected from players’ fraud!
When you’re using cryptocurrencies to play casino online there is absolutely no involvement of any single bank or government agency which makes it a universal payment system.
So basically, the country you reside in will no more make a difference in the accessibility and functionality of an online casino.
Cryptocurrencies like Bitcoin and others are decentralized which means that they have no connections with banks or the government.
Using cryptocurrencies, your account can neither be blocked nor frozen at any point. All your funds come and go through a crypto wallet and the best part is that nobody is even watching!
When you use conventional modes of payment while playing online casino games, there is a good amount of fees that are taken by the carrier of the payment.
When you use cryptocurrencies, the transaction fees are very low and you get to keep more of the money that wins when compared to a conventional mode of transaction.
You may believe that using cryptocurrency is complicated or expensive for regular people – but that could not be further from the truth. In fact, cryptocurrencies are available to anyone.
There are 2 popular methods you can use to purchase cryptocurrency and start making secure and anonymous deposits to your favorite online casino:
The first is to buy it online from a crypto exchange. You can purchase by either making a bank transfer to the crypto exchange or use a debit or credit card. You can find both international as well as Indian crypto exchanges.
Alternatively, you can buy cryptocurrency from an individual: you can meet the person at a convenient location and exchange cash rupees for cryptocurrency. The seller will usually bring along a laptop in order to perform the transaction securely in front of your eyes.
So as you can see, getting started using cryptocurrency and using it to deposit at an online casino is easy and possible for anyone!