India, the most populous nation in the world, has emerged as a prime economy in recent years, thereby capturing the attention of industries across the globe, who wish to have a slice of this emerging, massive market.Â
For the same reason, crypto markets have also arrived in India as a large number of Indians are now choosing to prefer cryptocurrencies over fiat and other traditional market assets and securities.
Similarly, the online crypto casino entertainment industry has gained major momentum in the country, and now there are multiple crypto casinos in India that operate and make profits from the rising economy.
After becoming a huge economic factor in Europe, online crypto casinos have seen rapid growth in India and other Asian countries. In this article, we will discuss the emerging trend of online crypto casinos in India and how this market has infiltrated among the Indian masses.
The emergence of online crypto casinos in India
A combination of online casinos and cryptocurrencies has emerged, and this dynamic combination has seen a rapid rise in the Indian subcontinent. Multiple crypto casinos have capitalized on this trend by incorporating cryptocurrencies into their payment methods. This revolutionary development has provided an extra push to online casinos in India.
Why Crypto Casinos are Secure: Privacy and Anonymity
The biggest advantage of payment through cryptocurrencies in an online casino is that a gambler’s identity remains intact and the transaction is not listed in their respective banks. Other payment methods like Bank transfer, Paytm, UPI, Skrill, and PayPal require the personal information of the user and eventually might put them at risk.Â
Furthermore, the decentralized nature of blockchain technology ensures that transactions on crypto casinos are secure and transparent. This reduces the risk of fraud and identity theft, making these platforms a more attractive option for many Indian players.
The Crypto Casinos have made the payment method more secure and easy for the players. A major gap between the platform and the player has been filled and eventually, the trust factor has played an important part in the deal.
What are the advantages of Crypto Casinos?
Crypto casinos offer several advantages over traditional online casinos, including:
Faster Transactions
The biggest advantage of a Crypto Casino is that the transactions have become faster. The payment and withdrawal transactions can happen within seconds on a single click.
Lower Fees
Cryptocurrencies are not yet regulated and they are still falling behind the tax norms. The Indian government has tried to impose taxes but cryptocurrencies have always come out with ways to charge lower fees on the transactions.
Wider Options
There are around 13,217 crypto coins present in the market. A single crypto casino uses an average of 40 cryptocurrencies for transactions. The Indian gamblers have a wide range of options to operate and that gives them a chance to save more money.
Global Accessibility
One of the biggest advantages of a Crypto Casino is that transactions can be done from any corner of the world and all you need is a good internet speed.
Conclusion
India is on the verge of witnessing a major change in sports betting and online casinos due to the involvement of cryptocurrencies. Although the cryptocurrency market is volatile, there is a large pool of gamblers who are eager to use their cryptos as a payment method at online casinos. With time, the market of online crypto casinos is only going to reach greater heights in India.
