Online casino in Malaysia
Since the invention of cryptocurrency and blockchain, people have become more interested in the usage of these technologies. Cryptocurrency and blockchain are relatively new things and, although they help ease some processes and increase transparency and security on many platforms, there is still room for them to grow.
One such place is online casinos. Online casino Malaysia gaming has been around for decades now, but it’s only more recently that they’ve started adopting new technology. There was a time when you could only deposit or withdraw money via wire transfer or credit cards, but cryptocurrency brought more options into the mix. Today we’re going to talk about how cryptocurrency can benefit online casinos.
1: Higher Security
Online casino in Malaysia faces a lot of problems due to their very nature: they’re not physical places that can be guarded by security, so they rely on encryption and other cyber-based safety measures to protect the players’ money. This is where blockchain comes in – blockchains are like large digital ledgers, but instead of having one central authority (like banks), there is no single point of entry for hackers or anyone else who would want to mess with your data. Since everything about a transaction is publicly available on the blockchain’s ledger, you don’t need to worry about the data being hacked by another player because it’s simply impossible without having more computational power than everyone else combined.
2: Ease of Use
Today you can use cryptocurrency to pay for anything whether it be bills or products online or offline, so why not use it to gamble? This way you won’t have to deposit your money into the casino’s accounts, which can result in problems like chargebacks. With Ether (the name of Ethereum’s token), for example, you will only need a wallet and some ETH tokens, with the transaction being almost instantaneous. In addition, most casinos accept BTC or LTC as well.
3: No More Third-Parties
Many people don’t really trust online casino in Malaysiabecause they still require another party to be involved with both players’ money – a third-party that is often unreliable and untrustworthy. You may ask yourself “why do I need someone else when blockchain technology makes the process simple?”. The answer lies in convenience – you don’t need to wait for confirmations and the transaction is almost instant, but there are still cases when you want a third party (like your credit card company) to be involved because they make it easy and secure.
4: Fast Withdrawals
It’s no secret that cryptocurrencies can sometimes take a while to transfer from one wallet to another. Sometimes this delay may even stretch into days or weeks which is obviously unacceptable if you’re trying to deposit or withdraw as quickly as possible. The delay usually has nothing to do with cryptocurrency itself – you just need the blockchain to process the transaction, and sometimes these blockchains become congested due to high demand and other problems. This issue won’t exist in online casinos since everything will be done in seconds.