It’s not uncommon to see, now, gambling operators, sports betting sites, and online casinos in Germany follow the lead of global bookmakers and adopt the world’s most innovative, breakthrough, and pioneering technology that has ever been launched in the digital ecosystem. We are talking about cryptocurrencies and the fact that more and more betting platforms are embracing these digital assets, in an effort to capture the enormous benefits attached to blockchain technology and align with the tidal wave that is coming over the entire world. 

It’s not an exaggeration to say that every online casino in Deutschland right now is considering – if it hasn’t already done so – embedding the crypto gambling feature into their core services. That’s probably because cryptocurrencies offer unique and unparalleled opportunities that are promising to revolutionize the gambling or sports betting experience of their customers. 

If you have ever searched more thoroughly upon the subject of cryptocurrencies, you must have come across many articles talking about their advantages or the basic features that differentiate them from fiat currencies and generally government-issued money. Cryptocurrencies, after all, have emerged not as just another option for users who want more efficient, transparent, decentralized, and cheaper transactions, but mostly as the basic alternative to the present highly moderated, mediated, and controlled fiat currencies. 

In gambling and sports betting, cryptocurrencies have found some of their most effective and prominent applications. The number of bettors who use cryptos is growing at phenomenal rates as reported by Casinoscryptos.com and this verifies just how well the whole crypto ecosystem has fitted the gambling world. 

While the features that make cryptocurrencies suitable for betting have well been spelled out, and communicated to users, the real benefits that these features bring to bettors are not necessarily that clear to everyone. For example, we hear about transparency, anonymity, efficiency, and decentralization as the fundamental pros of cryptos, but do we really know what they practically mean? What’s the main benefit that gamblers and sports bettors will experience when they use cryptos in online casino sites?

Transparency equals safety

Blockchain technology makes sure that the crypto ecosystem is transparent and immutable since every transaction is recorded in a ledger permanently. The records are implemented immediately and they are stable, meaning that they can’t be modified or changed. 

Transparency means that all records are traceable and visible, so every transaction being made is out there on the blockchain technology for everyone to follow. 

For bettors, this is practically equal to safety, because all transactions and payments are permanently recorded and cannot be changed by any party or agent. So, nobody can mess with one’s payments and withdrawals and the risks of fraud and scams are optimally minimized. 

Anonymity equals privacy and confidentiality

The good thing about using cryptocurrencies for gambling or wagering on sports is that it makes sure it retains anonymity. But what does anonymity practically imply? 

It implies privacy and privacy is valuable for everyone who doesn’t want to have their gambling activities or habits be attributed to their personal details. This is very important for all people who value discretion. 

Also, anonymity implies confidentiality, which means that every bet or stake that gamblers make and every bit of their activity is never revealed to anyone but the one who performs it. For the first time, the phrase “what I do, is nobody else’s business” is literally what best describes gambling with cryptos. 

Efficiency equals fewer expenses and quicker transactions at the same time

Cryptocurrency transactions are seamless, which means that they are made instantly. Meanwhile, they are burdened with much lower fees than the typical fiat currency transactions because there are no third parties receiving commission or other relevant fees. 

For gamblers and sports bettors, efficiency translates to greater speed and lower costs associated with any payments or withdrawals. They can instantly withdraw their winnings, make instant payments, and also have their amounts not being particularly reduced by unnecessary fees. 

Decentralization equals control

Cryptos have caused disintermediation in financial transactions. There are no banking institutions or other financial organizations mediating transactions and this practically means that there is no one else in charge of how users’ cryptos are being used or when they are being used. 

Practically, for bettors and gamblers, decentralization means having absolute control of their payments and withdrawals and of their crypto transactions, without having anybody else interfering in the process.