While cryptocurrencies offer many benefits, there are some disadvantages too that you have to be aware of. First of all, the prices of these assets are still quite volatile. They could change drastically even within the day. This means that your holdings in crypto could be decimated in value in a matter of hours. While it also means that you could gain value through a price hike, the risk is very high. Fortunately, we also offer Tether as one of the cryptocurrencies you can use for deposits at PlayAmo. The price of Tether is much more stable as it follows the US Dollar. If you decide to play Bitcoin casino slots and games, you definitely have to take into consideration the price volatility.
Another aspect that some may consider a drawback is the lack of other opportunities for using cryptocurrencies. These currencies haven’t yet been adopted by many retailers, which means you will not have an easy time finding a retailer or an online store that accepts payments in these coins. In turn, it means that you will need to convert crypto to fiat money every time to be able to use it. This adds an extra step to your deposits and withdrawals. Whenever you accumulate winnings and want to withdraw them, you will have to take them out in crypto first and then convert them to cash that you can actually spend. If you are comfortable holding your money in crypto, then this shouldn’t be a problem when playing casino games for Bitcoin.
Some cryptocurrencies experience scalability problems. Bitcoin has famously faced this issue in its peak of popularity. Lack of scalability means that if the demand for transactions using the blockchain increases, the fees and waiting times could also increase. This would obviously be problematic for online gamblers who want immediate payments and don’t feel like losing a lot of money in fees before it even arrives on their account. Fortunately, some networks were able to fix the scalability problems, so you should choose wisely which cryptocurrency you want to go for and whether you want to play casino games online for Bitcoin or any other crypto.