One of the biggest debates in recent times within the online gambling industry is the difference between BTC casinos and FIAT casinos, and which of the two is best.
Firstly, BTC, also known as Bitcoin, is a cryptocurrency that holds the title as the longest and most popular of all digital currencies. One of the most popular ways people are using BTC in 2021 is in gambling at online casinos on games like slots, roulette and blackjack.
Secondly, for anyone that is unfamiliar with FIAT money, it is the traditional currency that is used by most modern countries, such as the US Dollar, Euro, British Pound. This standard money is used in traditional online casinos and can be transferred from a player to a casino site using a variety of methods, including bank transfer, debit card and e-wallet.
Therefore, when we compare BTC casinos against FIAT casinos, we are simply setting out the criteria of a cryptocurrency casino and a traditional online casino.
In this brief debate, we will outline the benefits of BTC casinos and FIAT casinos along with provide the most highly recommended operators within each category.
Benefits of playing with a BTC casino and FIAT casino
There are a number of benefits and advantages of playing with a BTC casino and FIAT casino. It is up to the player to determine what is best for them and their needs when it comes to online gambling based on the available information.
Some players prefer to gamble in Bitcoin, whereas others prefer traditional currencies. The most common comparisons between BTC and FIAT online casinos are found below.
Payments and fees
There may be a fee for converting from one gambling currency to another, including from BTC to Euro or other FIAT currency. Money may also be lost during the conversion of a currency at online casinos due to the rates at the time.
Processing fees tend to be higher when using e-wallets for FIAT money, such as PayPal, Skrill and Neteller. Most e-wallets take commission per transaction. Some online casinos charge a withdrawal fee for FIAT money processing, whereas BTC withdrawals are free.
Convenience and security
Traditional online casinos used to be much more secure and financially safe than cryptocurrency operators. However, in 2021 the standard and regulation of legal gambling in both FIAT money and Bitcoin is high. Leaving very little room for rogue operators to scam players. However, Bitcoin casinos are marginally more convenient than regular FIAT casinos because deposit and withdrawals are quicker along with processing new player accounts. With BTC payments, there are no time consuming verifications or credit checks before gambling.
Game selection and quality
Online casinos that accept FIAT have a larger game selection at most online casinos. However, if you find the right casino site then the choice of games can be just as good in BTC as in Euro or other currencies. Previously, traditional online casinos used to offer a better quality of casino game. But with advances in technology, leading software developers have adapted their existing games so that players can wager in Bitcoin or FIAT. Additionally, some slot creators have developed a specific range of Bitcoin slots that can’t be played in traditional currency.
License and regulation
In order to accept a local FIAT currency, such as Euro or British Pounds, then the casino operator must hold a license within a jurisdiction that allows them to operate in that particular region, such as UK, Europe, Australia. and more. However, as Bitcoin is a digital currency with no physical form, it has decentralised control with no central bank. This allows players to gamble in BTC remotely from any location in the world.
Recommended BTC casinos
Players are free to use the tips and advice to find their own BTC casinos. Or they can use this recommended list of top casino sites that accept Bitcoin and get free bonuses when they deposit.
Bitcoincasino.io – The largest selection of BTC casino games online.
Cleopatra Casino – The biggest casino bonus online available in BTC.
Kingdom Casino – A leading casino site of BTC slots and table games.
Recommended FIAT casinos
These recommended FIAT casinos allow players to select their preferred money from a large selection of traditional currencies, including Euro, Dollar, Ruble and Krone.
Paradise Casino – The most popular FIAT casino in 2021.
Live Casino – A leading live dealer FIAT casino with traditional games and slots.