Cryptocurrency payments among online casino customers are becoming more and more popular today, gradually replacing operations with traditional bank cards. What are the advantages of such payments compared to paying through a bank, why should casinos switch to transactions with digital currency, and why do they need to connect to such services as CryptoProcessing.com?
Reasons for the success of BTC casinos
One of the main advantages of paying with crypto is delivering high privacy for users. After all, this is what attracts bitcoin casino customers, in which the registration process is as simple as possible – it is enough to mention only a name in some cases.
In regular online casinos, you need to provide much more personal data. And, of course, this scares away some customers who would prefer to remain anonymous. Digital assets allow users to make all payments without disclosing information about themselves.
Pros of crypto payments for business
One of the main advantages of crypto payments in online casinos is a possibility to shorten length of an intermediaries in transactions. When using a bank card, in addition to the sender and recipient of the payment, there are at least 2 intermediaries – at least one bank and a processing company. And for sure there may be much more of them As a result, a transfer from a bank can take up to 3 days, while a cryptocurrency payment is made literally in seconds.
Another clear advantage is universal accessibility. Cryptocurrency payments also allow online casinos to increase the number of customers at the expense of those people who live in countries where payments to casinos are blocked. Moreover, such payment services as CryptoProcessing.com make accepting cryptocurrencies much easier than accepting bank cards.
In addition, relatively low commissions are an important argument in choosing this particular payment method. After all, some banks charge starting from 5% of the total transfer amount for their services, and crypto payments involve a commission of about 1%.
There are two more pros of crypto payments. First one is that there is no need to send funds to rolling reserves. So you don’t need to spend money in forming such funds that are required in different jurisdictions. And another positive point is the absence of chargebacks.
The nuances of paying with crypto for business
First of all, is the volatility of crypto exchange rates. That is why it is so important to process deposits you get from customers as quickly as possible and to exchange crypto to fiat to hedge your risks. So when using cryptoprocessing merchant won’t take the volatility risk as all the transactions are almost instantly converted to fiat. Also cryptoprocessors allow to receive funds in stable coins (1:1 pledged to USD) that also erases the volatility risk.
However, when using a reliable cryptocurrency payment service, such as CryptoProcessing.com, all risks are minimized.
CryptoProcessing.com – solution for accepting payments!
Today, online casinos can accept all major cryptocurrencies, not just bitcoin. These include Ethereum, XRP, Litecoin and many other cryptocurrencies. The only thing they need to accept such payments is cooperation with a reliable crypto payment gateway. And perhaps, one of the best options can be CryptoProcessing.com from CoinsPaid. Let’s make a short review to look through the main advantages of this service.
Today CryptoProcessing.com is the leading crypto payment gateway in the world with over $1B processed volumes in crypto monthly. This payment gateway has been operating for more than 8 years, and during this time, more than 800 big companies started using its services.
CryptoProcessing.com is an officially registered and licensed company in the European Union. The company conducts independent security audits every year and right now they have 3 security audits: Kaspersky, 10Guards, and Hacken.
In 2021, CryptoProcessing.com processed over 9M transactions for more than $6B in crypto. Today its share in the total on-chain Bitcoin transactions is 8%.
This cryptocurrency processing gateway supports more than 30 major cryptocurrencies for payments and more than 20 fiat currencies for hedging, instantly converting them into each other. All payments are processed as a rule almost instantly. By connecting to this cryptocurrency payment gateway, you can always count on round-the-clock technical support that will guide you from the moment of application until the very end of the entire process of receiving payment from the client.
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