No Result
View All Result
Advertise
Submit a Press Release
Contact Us
Coindoo
  • Cryptocurrency News
    • All
    • Bitcoin News
    • Cardano News
    • Ethereum News
    • IOTA News
    • Litecoin News
    • Ripple News
    • TRON News
    XRP price prediction

    Ripple (XRP) Price Prediction and Analysis in January 2021

    PayPal

    PayPal Plans to Perform Crypto Transactions | Will It Get Bitcoin to $15.000?

    Sports News Apps

    The Best Classic Sports News Apps to Keep You Up-To-Date

    wire act

    What the Wire Act Means for Cryptocurrency

    cryptocurrency apps

    Cryptocurrency Apps Every Trader Should Have in 2020

    BitFlyer Brave

    Japan’s Biggest Crypto Exchange Partners with Brave to Launch Wallet

    Trending Tags

    • ethereum
    • ripple
    • Tron
    • bitcoin
  • Analyzes & Reviews
  • Guides & Tutorials
    Bitcoin casinos

    Most Common Coins Used to Play at Bitcoin Casinos

    crypto casinos

    Was 2020 the Year of Crypto Casinos?

    crypto signals

    How to Use Crypto Signals to Earn Money?

    online

    The Best Cryptocurrencies You Can Play in Online Casinos

  • Events
No Result
View All Result
Coindoo
No Result
View All Result
Home Cryptocurrency News

What the Wire Act Means for Cryptocurrency

Ionela C. by Ionela C.
October 15, 2020
in Cryptocurrency News

Crypto casinos stand to gain the maximum if the US government decides to implement their renewed views on the Wire Act. According to the Department of Justice, the lawmakers are still considering the possibilities of reworking the 1961 Act to legalize other forms of gambling apart from sports betting.

The Impact of the Proposed Wire Act Amendment on Cryptocurrencies

wire act
Source: OnlinePoker

The latest developments created a stir within the industry, with legal sports betting operators seeking clarification on the government’s stand. These concerns aren’t unfounded. The best example arrives from the intrastate poker, lottery, and casino sites, which had to convince banks and major credit card companies that facilitating payments wouldn’t irk the federal government, following the Legal Council’s 2011 opinion on the Wire Act.

Considering the potential scale of intrastate transactions recorded in iGaming every month, the operators would benefit from introducing cryptocurrencies in their payment methods. However, that could prove to be a challenge considering the legal agencies’ strict stance against blockchain payment methods. Therefore, citizens residing in states where iGaming is illegal only have the option of signing up on off-shore casinos.

Why Online Casinos Should Implement Crypto Transactions

cryptocurrencies
Source: montcalmschool

Since online casinos deal with large transactions, switching over to cryptocurrency makes sense. With numerous sanctions on deposit and withdrawal limits, traditional payment methods aren’t always reliable. Players are in for a treat too. Cryptocurrencies are harder to track down or hack into and hence offer additional security over conventional online payment methods.

Bankroll management is crucial for responsible gambling practices. By keeping finances separate, players reduce the chances of spending from their personal accounts. Crypto casinos promote responsible gambling, boosting confidence in the community. Visit Team Gamblers for similar updates on online gambling in America.

Additional Features of Crypto Casinos

Crypto casinos can run blockchain-based games, which make the players’ lives a lot simpler. From instant transactions to cheaper buy-ins, and the lack of third-party interference are just some of the perks of signing up on a crypto casino.

Crypto casinos are also able to return a larger percentage of the fees collected, thus improving RTP, since they can easily do away with expensive gateway charges. However, players are responsible for ensuring that payments are made to the right sources, as transfers once complete cannot be reversed.

Cryptocurrencies bring down international borders, allowing players to sign up on their favorite website irrespective of the country of origin. Since crypto transactions are secure, it minimizes the risks involved in signing up on offshore platforms compared to conventional currencies.

However, the process of switching over the crypto transactions isn’t likely to be smooth, since most people still view cryptocurrencies as digital assets rather than actual money. A few regions, however, are breaking the rules. Malta, for instance, recognizes cryptocurrencies and is home to a growing number of casinos accepting blockchain payment methods. If you’re still weighing the pros and cons of alternate payment methods, there’s no better way than to see for yourself.

Featured image: CTPost

Tags: blockchaincrypto casinoscrypto transactionscryptocurrenciesmediaonline gamblingWire Act
Ionela C.

Ionela C.

Related Posts

CoinRabbit Review: How to Profit From Hodling Your Crypto?

by Ionela C.
January 13, 2021
0

The problem with Bitcoin stashes in your crypto wallet is that you can’t use them if you have a long-term...

Bitcoin casinos

Most Common Coins Used to Play at Bitcoin Casinos

by Ionela C.
January 11, 2021
0

Over the past decade, we have seen a dramatic increase in the number of Bitcoin casinos. There are several advantages...

crypto casinos

Was 2020 the Year of Crypto Casinos?

by Ionela C.
January 11, 2021
0

One glance at the statistics published in a report by Statista shows there were over 47 million crypto wallets in...

crypto signals

How to Use Crypto Signals to Earn Money?

by Ionela C.
January 11, 2021
0

It is certain that every trader would like to know a secret thanks to which one could effortlessly multiply funds...

online

The Best Cryptocurrencies You Can Play in Online Casinos

by Ionela C.
January 5, 2021
0

An increasing number of online casino players are turning to cryptocurrencies, such as Bitcoin and others, for online betting and...

Load More

We Recommend

Top Rated Casinos
Bitstarz Casino

CryptoGames

1xBit Casino

Winz.io Casino

BitcoinCasino.io
Top Crypto Prices Provider
Crypto.com
Top Crypto Trading Bots
TradeSanta
Top Rated Exchanges
Crypto.com

Binance Exchange
Top DEFI Leaderboard
Crypto.com
Top Advertising Services
Coinzilla Display Network
Our Latest Reviews
coinbase review

Coinbase Exchange Review

Even if it has its flaws and controversies, Coinbase is a
Kraken exchange review

Kraken Exchange Review

The exchange is one of the most popular crypto trading platforms,
XRP.io wallet review

XRP.io Wallet

XRP.io provides a very easy to use and simple user experience.
View All Reviews

Editor's Choice

Blockchain Analyzes & Reviews

CoinRabbit Review: How to Profit From Hodling Your Crypto?

by Ionela C.
January 13, 2021
0

SwapSpace exchange aggregator

SwapSpace Exchange Aggregator Review: Supported Cryptos, Fees, Pros and Cons

trading

The Benefits of Cross-Chain Trading

August 28, 2020
Stratus

Stratus Redefining Social Media

August 24, 2020

5 Minutes of Blockchain & Cryptocurrency News!

We completely understand that your inbox is already full of junk emails. We promise that we gonna try to keep it clean by sending a daily newsletter with our latest news. You can always choose to unsubscribe to our newsletter if you're not satisfied.

coindoo icon
  • Contact Us
  • Advertise
  • RSS Feed
  • About Us
  • Partners
  • Terms & Conditions
  • Privacy Policy

© 2017-2020 Coindoo

The information on this website and the links provided are for general information only and should not constitute any financial or investment advice. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. We are not responsible for any loss caused by any information provided directly or indirectly on this website.

No Result
View All Result
  • Cryptocurrency News
  • Analyzes & Reviews
  • Guides & Tutorials
  • Events

© 2017-2019 Coindoo