When it comes to funding your wallet at an online casino, there are usually a plethora of different payment methods available. The question has to be asked then, which method is better? Forex or Crypto? Here’s what you need to know.
The Benefits of Using Forex
There are a lot of online casinos out there, but not all of them accept cryptocurrencies. For one reason or another, you might have to use a bank transfer or other method to fund your wallet. There are a few benefits that come with using these methods over cryptocurrencies.
For one, you don’t have to go through the hassle of setting up a crypto wallet at a crypto exchange. While this has gotten easier over the years, if you already have a bank account or eWallet, you don’t have to open up another account and fund it to play online.
Additionally, these transactions are protected by your bank or the eWallet provider. With cryptocurrency, they are gone for good once you send the funds. There is no protection if you accidentally mistype the online casino’s wallet.
The Benefits of Using Crypto
According to research from Erik King, crypto casinos or casinos that accept crypto are some of the best online casinos out there. The main benefit of using crypto to fund your wallet is that the transactions are often way faster than any other method out there. While funding your wallet through a bank transfer, eWallet, or another method may take anywhere from an hour to several days, crypto deposits and withdrawals are often processed within ten minutes.
On top of that, crypto is anonymous and nearly untraceable. A lot of players like this anonymity and appreciate it when online casinos allow them to fund their wallets this way. Online gambling is in a legal-grey area in many parts of the world, and some players feel more at ease if they can detach their bank account or other personal information from their online accounts.
Which One Should You Use
When it comes to using forex or crypto for online casino gaming, the choice is yours. Each one has its own benefits and drawbacks. Depending on the casino, one of them might not even be an option. It’s important to check with the online casino first before committing to one. If a casino accepting cryptocurrency is a dealbreaker, you might want to keep looking for your golden goose.