Let’s talk about transaction fees for a moment. It’s one of the least exciting things about deposits and withdrawals at any online casino, but it’s worth knowing a bit more about.
Whether you’re playing at fiat and crypto casinos, transaction fees can significantly impact your overall gambling experience, which is why we’re going to briefly compare the two in this insight.
Fiat casino transaction fees
Fiat casinos primarily deal with traditional currencies such as USD, EUR, GBP, etc. Because of this, and obviously depending on which payment method you use (and which operator you visit), their transaction fees are generally higher than crypto casinos.
The fees range between 1-5% of the total amount transacted, depending on the payment method used, where credit cards and certain payment apps tend to be on the higher side.
Furthermore, licensed fiat casinos often have to comply with strict regulations and guidelines to operate legally, which can add to the transaction fees. For example, they have to pay licensing fees, taxes, and other regulatory charges, which results in an increase in the cost of transactions for the players.
Crypto casino transaction fees
Crypto casinos, on the other hand, have gained immense popularity in recent years due to their low (or zero) transaction fees. Bitcoin and popular altcoins tend to have very low or zero transaction fees for both deposits and withdrawals. Transactions at a reputable crypto casino are usually instant, with a 0% fee, something we often cover in our BTC casino reviews.
Crypto transactions involve a fraction of the fees charged through fiat transactions, ranging from 0% to 1%, or a set fee per transaction.
Maximize bonuses with low fees
Apart from providing us with low transaction fees, some Bitcoin online casinos also offer unique crypto bonuses. These bonuses reward players that deposit crypto in general, or specific coins. You can get rewards like cashback, free spins, or deposit bonuses.
Crypto bonuses are becoming increasingly popular among players, as they provide additional value and incentives for using cryptocurrencies in their transactions. We’ll also remind you that these bonuses can be significantly higher than those offered by fiat casinos, as the low transaction fees allow casinos to allocate more funds towards bonuses and promotions.
Avoid casinos with notable fees
We recommend that you read the terms and conditions of any online casino you visit, as there may be hidden fees associated with transactions, even when the payment provider itself doesn’t charge you.
In some cases, the terms state that the casino can charge you a handling fee, which is something you’ll want to avoid as it takes a percentage of your winnings upon withdrawal.
Casino sites may do these to cover the costs of the transactions that payment providers charge for. But that’s how we get the 0% fees to begin with, so we don’t think the players should have to take that hit. It’s worth keeping in mind whenever you visit a new operator.