As many of you are probably well aware, Wirecard is a major payment processor favored by online casinos around the globe.
Wirecard’s share price plummeted more than 25% on the back of news that there was a €1.9 billion hole in its accounts.
This led to the payment provider taking its systems offline, leaving many online casinos in the lurch for fiat payment processing.
But how will it impact online casino players from around the globe? Bitcoin Casino Kings are going to explain!
Business as Usual – For the Most Part
Here at Bitcoin Casino Kings, we’re all about crypto casino play, so for all Bitcoin and other crypto casinos, nothing will change.
Wirecard was only used to process payments using fiat bank cards and credit cards, meaning crypto payments use a totally different payment rail.
However, if you play in a fiat currency at your online casino if choice alongside crypto, you might notice a few things happening.
If you are using fiat at an online casino, you might have noticed that card deposits in fiat currencies were down for a few hours or days, depending on your favorite online casino.
In that period, online casinos around the world scrambled to add other payment processors for fiat cards.
Now, there’s a chance some of these will have a slightly higher fee than usual or they might get flagged by your bank as suspicious transactions.
This isn’t fun and the delay while the bank calls you and verifies that the transaction was legitimate.
Is There an Alternative?
Wirecard is slowly resuming operations in certain regions and as other companies buy off portions of Wirecard we will see it slowly come back to life, under a new brand name.
But this is far from an ideal solution, it doesn’t fix the problem of now. So what can be done?
First up, stop playing at online casinos in fiat currencies.
Start by getting your hands on Bitcoin or any other cryptocurrency and start playing at crypto online casinos using it.
You can use a wide range of payment methods to buy crypto at various crypto exchanges, and some online casinos even have the ability for you to buy crypto directly from them or using a 3rd party provider.
Once you swap over to crypto casino life, you’ll be totally free from the aches and pains of a corrupt and scandalous fiat currency society.
There will never be a €1.9 billion hole in Bitcoin simply because it’s truly decentralized, meaning you won’t have to suffer because of a greedy CEO or accountant.
Are Bitcoin Casinos Legit?
If you’re worried about the legitimacy of Bitcoin and other crypto casinos, then you needn’t worry.
All the crypto casinos you can find here at Bitcoin Casino Kings are fully regulated and are totally legit.
We put in the leg work to verify the authenticity of each online casino – we’d never promote a scam to you.
Best of all, Bitcoin casinos tend to have some of the best welcome packages in the world. So make sure you take advantage of these.
As for Wirecard, hopefully they can find the “missing” funds and get back on track. Until then, it’s time to migrate to Bitcoin!