Crypto or Fiat: What’s Better for Playing Blackjack?

By John Cunningham.

Your choice of payment option when playing blackjack can significantly affect your wins, losses, and overall gaming experience. Many online casinos facilitate digital blackjack with either fiat, crypto, or a combination. But which of these is the best choice for you as a blackjack player?

Find out in this article as we highlight reasons why each is a better choice.

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6 Reasons Why Crypto is Better for Playing Blackjack

Crypto has the following advantages over fiat when playing blackjack.

1. Swift Deposits and Withdrawals

Playing blackjack with crypto makes it easy to fund your betting account and withdraw your winnings quickly. Unlike fiat currencies, the processes involved with these actions are quicker and more effective.

This reality is because cryptocurrencies are built on and regulated by the blockchain, there’s no need to undergo identity verification checks during withdrawal and deposit processes. Likewise, since traditional third-party institutions do not regulate them, there is no need to undergo time-consuming bank procedures. Hence, the swiftness.

2. Security and Anonymity

Technically, crypto transactions are not entirely anonymous since they’re recorded on the blockchain, which is visible to anybody. However, they can only be identified by keys that are not public information. So, they do cloak the identity of blackjack players to a great extent.

Besides being permanently recorded on the blockchain, crypto transactions have an added layer of encryption. Many Bitcoin casinos in the USA leverage this feature to stay hack-proof. Compared to using fiat, your funds are relatively secure.

3. Lower Transaction Fees

Fiat transactions usually involve multiple operators — all of which charge processing fees. Usually, credit cards and e-wallets charge 3% of your funds on average. So, when you play blackjack with fiat currencies, those fees eat into your budget and winnings.

However, the decentralized blockchain helps you transact directly with the online casino. Consequently, fewer fees and larger winnings and budgets are involved. Unlike credit cards and e-wallets, Bitcoin and other cryptocurrencies charge an average of 1% of your funds.

4. Transparency and Provably Fair Algorithm

Lack of trust is a major reason some people are skeptical about online blackjack. They fear that online casinos can influence game outcomes to boost profit. And although many online casinos deny this, the chances are significant when playing with fiat currencies. In contrast, the decentralized nature of the blockchain can significantly allay these fears. Although anyone can view and trace the transactions on a blockchain, they can’t alter them.

In addition, crypto blackjack games utilize smart contracts and provably fair technology, which prevents casino operators from manipulating outcomes. As such, the outcome-determining processes involved in crypto blackjack are more open, thus boosting your winning chances.

5. Global Access

Playing blackjack for money is considered illegal in some countries. Therefore, players in such regions cannot access the game if they play with fiat currencies. This restriction is because fiat currencies are regulated by traditional banks, which are under the government’s supervision.

However, the blockchain allows you to transact with anyone worldwide due to decentralization. Players no longer worry about currency conversions, banking regulations, and additional fees. Therefore, playing with crypto allows players to play in restricted areas.

6. Enhanced Bonuses and Promotions

Despite the surge in popularity of cryptocurrencies, many people still need to gain some basic crypto knowledge. In response, most crypto casinos try to attract customers by offering various crypto blackjack bonus offers and promotions. These offers create a welcoming and enabling environment for continuous patronage.

As such, you’ll likely get more enticing bonus offers when you play blackjack with crypto.

5 Reasons Why Fiat is Better for Playing Blackjack

The following are the benefits of being an old-timer who sticks with fiat over crypto.

1. Standardized Gaming Experiences

Online blackjack had long existed before cryptocurrencies became a thing after Bitcoin launched in 2009. Consequently, many blackjack games were designed to run with fiat currencies. This compatibility standardizes the gaming experiences when playing with Fiat. You just know what to expect. Playing with crypto, on the other hand, is new and different.

2. Simplicity

Being new and different gives players the responsibility of unlearning and relearning certain game protocols. Users require a little tech-savvy to grasp some crypto terminologies. Understanding these things takes time and effort.

Frankly, playing blackjack with crypto isn’t utterly different or cumbersome. However, most people just want to play blackjack. Playing with fiat helps them do that using basic blackjack strategies, as they don’t have to get accustomed to new terms and values. There is no learning curve.

3. Regulations

The blockchain’s decentralized nature can be both a blessing and a curse.

For starters, some countries are yet to legalize crypto use, thus putting players on the wrong side of the law. Secondly, due to the high anonymity associated with crypto casinos, you never really know who’s with you at the blackjack table. 

In contrast, the long-standing relationship between the government and traditional banking institutions facilitates the implementation of rigorous regulatory standards. As a result, choosing fiat means choosing to play blackjack in a regulated and secure gambling environment.

4. Major Currency Options

The mainstream appeal of fiat currencies means you get to play blackjack using your preferred currency. This communicates a strong sense of inclusiveness to a broader audience.

Most cryptocurrencies are still in the early developmental stages, which makes it difficult for most people to access them. How would it feel to be unable to access a game you love because you don’t have a crypto wallet or a particular crypto coin?  Not cool, right?

5. Stability

Unlike many crypto coins, most major fiat currencies have a stable value. The highly volatile nature of cryptocurrencies makes it easy to lose and gain on your winnings.

After a successful blackjack session with crypto, you might discover that the value of your winnings has reduced or increased drastically. Of course, that might be a good or bad thing.

However, what you win is what you get when you play with fiat.

IMAGE CREDIT: Unsplash.com

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