One of the most popular trends in the online casino industry is the introduction of cryptocurrencies as a payment alternative that gamblers can use for deposits and withdraws. There are a number of Singaporean-friendly online casinos that accept bitcoin as a form of payment. However, BK8 is the leader in this category. It is considered the best cryptocurrency casino in Singapore.
In today’s article, we shall discuss the benefits of using crypto over the traditional payment options, and the process will have to go through to place bets using crypto.
What is a Cryptocurrency Casino?
A cryptocurrency casino refers to any online casino that accepts crypto as one of the payment methods. These casinos allow users to make deposits using coins such as bitcoin, Ethereum, and USDT. Most of them still maintain the traditional payment platforms, but crypto is added as an option that those interested can take advantage of.
The cryptocurrencies accepted by BK8 Online Casino Singapore include bitcoin, Ethereum, and USDT. These are the three most popular coins in the market right now, so buying and selling them is pretty easy. We expect BK8 to add more cryptocurrencies in the future if they find the need to.
Benefits of Playing at Cryptocurrency Casino BK8
Lower Transaction Fees
One of the major benefits you will get are the low transaction fees while making deposits to your wallet and withdrawing your payouts. Most of the time, the fees that these crypto platforms charge are a fraction of what you would have paid if you opt to use the traditional payment platforms, we are all used to.
The impact of these is even more significant for people using fiat currencies that are not supported by BK8. With crypto, the charges are flat. You will only incur charges while buying them from an exchange platform like Coinbase or Binance.
Fast Transactions Processing
Another benefit that comes with using crypto is the significant difference in transaction speeds. One thing you wouldn’t wish for after winning a bet is for your payouts to take days before getting to your account. Cryptocurrency solves this problem since all transactions are completed in a matter of minutes. If you are not ready to wait for days for your money to get to your account, the best payment alternative you need to choose is crypto.
You Can Place Bets Even If You are Out of Singapore
With crypto, you will continue placing your bets even when you get out of the country. When you visit an online casino that is not located in your country, you will often realize that it has payment methods that do not work in your region. This makes it almost impossible to play games at such an online casino since there is no way you can make deposits.
But even when the available payment methods are supported in your country, the charges are usually insanely high, making sending and receiving money very expensive. With crypto, all these barriers are removed. You can deposit or withdraw money from your online casino wallet without having to incur the extra charges just because you are from an outside country. Also, check out the exciting crypto deposit bonus now at BK8.
It is More Private
When you deposit money to your casino wallet through your bank, that transaction is recorded, and this data can be accessed by anyone, including the government. So, literally, your bank and government will get to know how much you spend on gambling within a given period. However, things are different with cryptocurrencies.
With crypto, it is impossible to track your transaction because the only details that appear on the blockchain are your public wallet address of the specific Cryptocurrency you are using. This address cannot be used to know who you are, making it very private to make payments using crypto. So, if you are the kind person that values their privacy, using crypto is the best payment alternative.
How to Deposit Money on BK8 Using Crypto
Step #1: Create a Cryptocurrency Wallet Account
A wallet refers to an application used to store your public and private keys for all your cryptocurrency transactions. There are a variety of wallet applications available. However, we recommend using the first party Bitcoin wallet (for those using Bitcoin), thanks to its good reputation over the years.
Step #2: Use a Crypto Exchange Platform to Buy Crypto
The easiest way to purchase crypto currently is using a crypto exchange platform like Coinbase or Binance. So, you need to create an account with any of these platforms and then buy your crypto using any of the supported currencies. You should then transfer the amount you would like to use for betting to your wallet. You’ll be asked to provide your wallet’s URL. You can get the address from your wallet app.
Step #3: Deposit your Crypto to your BK8
Now that you have the crypto in your wallet, it is pretty easy to transfer it to your BK8 wallet. Please note that the three cryptocurrencies that BK8 supports include ETH, USDT, and BTC. If you have any other crypto, you may have to convert it first before transferring it to your BK8 wallet.
To deposit your crypto, go to the payments section and choose your preferred choice of crypto. You will be required to scan the QR code shown on the BK8 website to complete the transaction successfully. Check the remaining balance both on your crypto wallet and casino wallet before depositing so that you know exactly how much you should deposit.
After transferring your crypto to your BK8 wallet, it will be converted to the local currency value at that moment. As a result, you may start making deposits right now.
There are so many benefits that come with using crypto over the traditional payments platforms we are all used to. If you have the option, it is always better to deposit to your BK8 wallet or withdraw your payouts when you win using crypto. The two main benefits that will likely enhance your experience are faster transaction processing times and significantly lower charges.