It’s the 21st century, and technology has once again shown how advanced it can get. The online casino gambling community is now being revolutionized with the advancement in the financial sector. Cryptocurrency is the latest development, and some online casinos are already in line with this advancement. It is no news that most online casino platforms now accept bitcoin as a means of deposits and withdrawals for gambling. Bitcoin casinos are slowly becoming the next big thing in the online gambling community. Some online casinos have declared they no longer accept fiat but strictly cryptocurrency, bitcoin. The reason behind this is based on the advantages Bitcoin has over fiat as a legal tender.
Other aspects of gambling remain intact on online casinos, asides from the deposits and withdrawals. The games are the same, and the strategies in playing these games remain unchanged. So, why are bitcoin casinos the next big thing in the casino community? Will fiat completely lose its place? How long will it take Bitcoin to take control of the whole community? These, amongst others, are some of the questions that we will answer in this article. However, that’s not all. Casinos now create promotions and bonus offers based on crypto coins. For instance, a lot of operators have no deposit bitcoin bonuses. Revolution is not easy, as individuals easily fall into a particular routine and tend to find it challenging to embrace advancements.
Why are Bitcoin Casinos Growing in Popularity?
When it comes to online casinos, the choice in terms of game selection is one of the key differentiators for customers. Another important component which can be termed equally important is the availability of different payment methods. Until several years ago, banking options at casinos were quite limited. However, all of that changed when bitcoin became part of the gambling world. Today we are witnessing more and more casinos are offering bitcoin as a payment option. Some casinos have gone one step further and now allow other altcoins like Ethereum, Ripple, and Litecoin, among others. Below, we will list several reasons why Bitcoin Casinos will keep growing in the future.
Fast Deposits & Withdrawals
One of the most fundamental problems with most online casinos is withdrawals and deposit processes. As essential as it appears, some reputable online casinos still undergo these problems. The reason is, transactions involving fiat are limited, especially when it’s bulky. An online casino with hundreds of deposit transactions coming in per minute will most likely take a couple of minutes, if not hours, to process withdrawals. So, online casino platforms have moved in rectifying this problem to serve their clients better. Be sure to note that this issue most times is not always from the online casino, but financial institutions. Hence, a more advanced means of making withdrawals and deposits, bitcoin, is now being adopted.
Bitcoin and other cryptocurrencies have the capacity of carrying out thousands of transactions, either withdrawals or deposits, within a short period. So, since the issues of deposits and withdrawals have been sorted with cryptocurrency, and it’s stress-free, the most platform sticks to it.
Unlike other conventional methods involving the disclosure of your bank account and other important details to the casinos, cryptocurrencies do not require any such information top be shared with the operators. This is especially relevant in today’s age and time, when there are so many scams happening in the online casino world. Use of cryptocurrency will possibly save you from scammers. Security is one of the most important things when it comes to online gambling. With bitcoin, no matter how good the casino operator is, the player’s info will always be protected.
With no strict requirements, playing at a crypto casino is as simple as transferring cryptocurrency to the casino’s designated wallet and playing ‘real-money” casino games. The only trace of your activity would be your cryptocurrency address. There is no need to divulge sensitive information like age, ID documents, utility bills, or banking information. This protects users from the identity theft that often plagues other gambling models. Once you have a functional VPN, a burner email, and your passwords are safe, you can explore crypto casinos with maximum privacy and no fear of data theft.
Low Transaction Fees
Transaction charges on bitcoin and other cryptocurrency networks are very low, quite contrary to fiat. Irrespective of the amount you are sending and depending on the network, the transaction charges remain. Fiats will likely increase at the slightest increase in the amount sent or received. So, the transaction charges deducted can never make up for the transaction speed using fiat as a means of exchange. At least, if the transaction charges will be expensive, the transaction speed in processing each transaction should be impressive. Bitcoin offers breakneck transaction speed at minimal and subsidized transaction charges. Hence, it’s one of those few reasons why bitcoin works better than fiat.
The cryptocurrency community comes with its ups and downs due to price volatility, which applies to bitcoin. Using bitcoin as a means of exchange would profit the gambler consistently. You get to deposit enough bitcoin when the price of bitcoin drops and withdraw when it pumps. So, you could have $100 worth of Bitcoin, say 0.005btc, in your account today, and by the end of the week, your 0.0005btc is now worth $150 available for withdrawal. Another incentive is the Bitcoin casino no deposit bonus, which most online casinos offer their client as loyalty bonuses and welcome bonuses for new members.
Most online gambling platforms are now accepting bitcoin and other cryptocurrencies in place of fiat because of the advantages and well influence the cryptocurrency community has over the financial sector. So, you might also want to check out the various benefits involved in playing casino games with bitcoin. It’s not only stress-free; it’s pretty lucrative and could serve as a means of accumulating more bitcoin.
Cryptocurrencies & Online Casinos
Many commentators perceive cryptocurrencies and online casinos to be a match made in heaven. Thanks to mobile technology making the online casino industry much more portable, online casinos have only become ever popular, with fans about to engage whenever and wherever they wish. Cryptocurrencies have offered a unique selling point for many online casinos, attracting a new customer base and many casinos offer special benefits and offers that other forms of traditional currency simply can’t compete with.
Another interesting aspect of the match between cryptocurrencies and online casinos is that a number of countries do not recognize many cryptocurrencies as a valid form of currency; this means that for many online casino fans, they are not actually betting with real money but ultimately could convert and make gains in real currency if they win. This is also beneficial to the casino itself. If a casino only offers cryptocurrency betting, they are not considered to be gambling in cash and therefore traditional gambling regulations don’t apply to them. It’s an interesting approach, and one that could appeal to many.
Cryptocurrency casinos are a product of the digital age, and they have already won the hearts of a myriad of online casino fans. The fact is that there is no room for paper and coin commodities in this digital age, and so we are sure to see cryptocurrency and casinos continue to work together in synergy.