Learn how you can gain access to exclusive games and rewards when using BUSD tokens at crypto casinos. Read on to find out how to transact safely with BUSD.
BUSD is what is known as a stablecoin. It was created and issued by Binance, which is currently the world’s largest cryptocurrency exchange.
A stablecoin is a token that is redeemable for US Dollars at a ratio of 1:1. Binance achieves this by locking up real-world assets at a third-party custodial service, in this case, a company called Paxos. Paxos gets regularly audited to ensure the legitimacy of the funds.
Binance can then issue BUSD tokens against the assets in reserve so that each BUSD token has a value equal to one US Dollar. These tokens will then always be redeemable for real US Dollars. This essentially creates a digit dollar that can be used on the blockchain.
You can see how this can generate great benefits for crypto users in general and also benefit online casino users. Not only can online casino clients reap the benefits of cryptocurrency, but by using BUSD, they can enjoy the stability of the US Dollar.
In this article, we will take a closer look at how crypto casinos implement BUSD as a payment method and how you, as a client, can gain additional benefits by depositing in BUSD.
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You might ask yourself why use a token that is basically the same as the USD dollar when you can just pay the casino in real US Dollars by using your credit or debit card.
The main reason why people will opt to use BUSD is security. We all know the inherent risks of using credit cards online, as your personal details can be intercepted by those with more nefarious intentions.
Crypto Payments are made in such a manner that one does not need to provide any personal or banking information to the website you are trying to deposit money.
You simply send BUSD tokens from a crypto wallet that does not need to be registered to your name to the casino’s BUSD address, and within minutes you have some credit that you can start playing with. No personal information is exchanged.
The same process is applied when requesting a withdrawal from the casino, the withdrawal gets processed within minutes, and you do not need to provide any sensitive information.
This can set potential users’ minds at ease, knowing they are protected from any form of financial or identity theft. This, no doubt, opens up the online casino industry to a whole new audience of players that would otherwise not play at these online casinos.
Users that make use of the BUSD token as a payment method at online casinos enjoy some great benefits over those that use bank payments as well as other forms of cryptocurrencies.
The most mentionable benefit, of course, is the safety and privacy that comes along with using crypto as a means of payment since users do not have to hand over any sensitive banking or personal information to make use of the online services.
Another great benefit of using BUSD tokens is that you do not need to be worried about the wild price fluctuations of the token. This is often an issue when holding on to cryptocurrencies and can be a deterrent for folks that would have otherwise made use of crypto as a means of payment.
By using BUSD tokens at the crypto casinos, users can get access to some great bonuses that the casinos offer crypto users. These bonuses come in the form of extra credit or free spins that can be sued on selected games as well as gaining access to crypto-only games.
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18+ New Players Only. Min. Wagering Requirement. Valid until Further Notice. Full T&C's Apply
€750 Welcome Bonus + 75 Free Spins
18+ New Players Only. Min. Wagering Requirement. Valid until Further Notice. Full T&C's Apply
The BUSD token is a wonderful means of payment as it provides all the benefits of other crypto payments as well as enjoying the stability of the US Dollar.
There is also a sense of security knowing that the issuer of the token does not hold the reserve assets and that the holding company gets audited on a regular basis, ensuring the legitimacy of the tokens.
Clients that use BUSD as a means of payment not only gain extra privacy and security, but they can also get access to exclusive bonuses and games that other clients don’t.
Combining all these benefits makes BUSD a much smarter choice when interacting with online casinos. There might be a few extra steps involved with handling these crypto tokens, but the benefits of doing so greatly outweigh the troubles you need to go through to make use of this new technology.
It is a crypto token that is backed by the USD dollar at a ratio of 1:1 and can always be exchanged for real money. It is essentially a digital dollar that can be used on the blockchain.
There are two ways you can transfer BUSD from one blockchain to another. By requesting a withdrawal from your exchange to the network of your choosing or by performing a procedure called “bridging.”
BUSD has all the benefits of regular cryptocurrencies but is not subject to any wild price swings that many other cryptocurrencies experiences, making it a safe store of value.
BUSD tokens are not immune to being hacked. Basic safety precautions are still needed when storing your BUSD tokens. Use hardware wallets if possible or otherwise. Never connect your main wallet to any online services.