FAQ Page

Q: How is cryptocurrency different from government-issued currency?

Cryptocurrencies are decentralized and offer faster transaction speeds, lower fees, and improved security compared to government-issued (fiat) currencies. Unlike fiat currencies, which are regulated and involve slower and more expensive processes, cryptocurrencies operate on a blockchain, ensuring quick and secure transactions without needing personal financial information.

How is Cryptocurrency Different from Government-Issued Currency?

We’re biased, but when it comes to the fiat vs. crypto debate, we’re firmly in the latter camp. Cryptocurrencies are decentralized and free of the slow, cumbersome, expensive, invasive, and overly regulated transaction processes used for fiat currencies.

Here are the key benefits of using cryptocurrencies that, in the end, you’ll discover at mBitcasino:

Faster Transaction Speeds: Cryptocurrencies allow you to say goodbye to transactions that take days. Whether depositing or withdrawing at mBitcasino, you’ll never have to wait longer than 10 minutes for your crypto transaction to complete.
Cheaper Transaction Fees: While fees differ from crypto to crypto, there is no contest overall regarding crypto vs fiat transaction fees. Even the cost to send the most expensive cryptocurrencies is tiny compared to the cheapest fiat payment methods.
Improved Security: At a crypto casino such as mBitcasino, you’ll never have to share personal financial banking information. A decentralized and impenetrable record of every transaction protects crypto transactions across a blockchain. This significantly reduces the likelihood of fraud or illegal access to a transaction, as it is encrypted and independently confirmed by multiple network nodes.

In our opinion, there's no contest in the fiat currency vs. crypto debate, especially for online casino gaming.