About bitcoin casinos
In recent years bitcoin has made quite a buzz in the online casino industry. Bitcoin is transforming the entire online betting landscape, and we cannot be more thrilled about it. Now you can pick an online casino that will allow you to deposit and withdraw from online casinos with bitcoins. Do you ever wonder what are the reasons behind the popularity of bitcoin and why more and more punters want to bet with cryptocurrencies?
Well, if yes, then we are mentioning everything that you need to know about the bitcoin casinos and why you should place bets on bitcoin casinos.
Now don’t wait another minute and read on!
The popularity of bitcoin casinos
Bitcoin casinos offer the same line of features as a standard online casino does. More and more online casinos are adding bitcoin as a payment method because many punters want to bet with bitcoin. It seems like in the near future betting on bitcoin casinos will be extremely popular and cool. To be honest, players worldwide get to choose many cryptocurrencies to place bets like Ethereum, but the most popular cryptocurrency among the punters is bitcoin.
Many websites like casinofox.se and ultimatebitcoincasinos.com are helping the punters with the necessary information they need to bet online with bitcoin. Such sites are solely focused on the bitcoin casinos and have detailed casino reviews, site suggestions, and helping blogs as they aim to help the gamblers to experience the best of bitcoin casinos.
According to a report by the University of Cambridge in 2017, there were around 5.8 million Bitcoin users.
You must be wondering what benefits must bitcoin casinos entice, due to which they are attracting so many new punters.
Well, don’t worry then! Because in the next section, we mention all the benefits of betting with bitcoin, and we are sure that these benefits will also make you want to place bets on bitcoin casinos.
Benefits of betting with bitcoin casinos
- Transactions with low fees
When you use the traditional currency for betting on online casinos, a small amount of transactional fees is charged at the time of deposit and withdrawal. Subsequently, this means that you are giving more than you are making while betting. However, when it comes to betting with bitcoin, minimum or nil transaction fees are kept. Which means you get to save more and spend less.
- The casino industry is evolving.
The casino industry is growing at a faster pace as it doesn’t want to be left behind and wants to offer the best to the players. Bitcoins have become quite a staple for the casino industry. Many established casinos are allowing their players to make deposits and withdraw using bitcoin. It looks like in a few years; traditional casinos will be synonymous with bitcoin casinos.
- Fast Transactions
How would you like it if all your deposits and withdrawals on the online casino happen instantly? Looks like a dream come true? Well, with bitcoin casinos, it’s possible.
Due to blockchain technology, bitcoin casinos are able to complete transactions with lightning-fast speed.
In traditional casinos, completing transactions can take up to a few days or even weeks because of the lengthy process involved, but you can enjoy your instant winnings with bitcoin.
- Bonuses are much better.
It is a fact! Bitcoin casinos offer better bonuses to the bettors because they don’t have to bear the transaction or banking costs. Bitcoin casinos are able to keep their maximum profits; therefore, they can offer better bonuses.
Therefore when you bet on a bitcoin casino, you can expect a more generous welcome bonus and exclusive VIP bonus compared to the traditional online casinos.
- Less wagering restrictions
The location has always been an issue with online casinos. Every online casino has its terms and conditions for each country. Some will be limited to certain geographic areas, whereas others will offer different bonuses and promotions in every country. On the other hand, bitcoin casinos have no geographical limitations, and the reward is the same for all the players worldwide.
- Promotes fair gaming
One of the main issues punters have with online casinos is transparency. Players doubt whether the results shown by the casinos are authentic or not. The best online casinos offer games from reputable game providers, but bettors are still not satisfied.
Bitcoin casinos use blockchain technology in their games with the help of a provably fair algorithm. The difference between the traditional and this algorithm is the seed coming from the operator and your device. You can create your own seed if you think the operator’s seed is encrypted. Also, it is appreciated that provably fair algorithms do not give any opportunity to the hackers to manipulate the game.
- Complete privacy is maintained.
Nobody wants their private data to get leaked online because it can lead to online frauds or the selling of data on the dark web. However, there is a set of gamblers who do not want their casino transaction to be displayed as it can cause embarrassment or might be that their region is strict. Well, privacy is the main benefit of betting on bitcoin casinos. Unlike other banking services, you can buy bitcoin without your real name, address, identification number, or anything else. Also, by using a VPN, punters can stay clear from the eyes of hackers.
- It is a decentralized currency.
One of the main differences between traditional currency and bitcoin is the lack of a central office keeping an eye on the money. Instead, the government holds a tab on the currency of their citizens, and many governments have implemented taxes on casino winnings.
Imagine winning a million-dollar jackpot (which is once in a moon situation), and a part of it is taken away by the government. What are you going to do about it? Well, nothing! Unless you want to spend the rest of your life behind bars.
Bitcoin is a decentralized currency where no one will be keeping the tab on them or controlling them.
Why are bettors choosing to bet with bitcoin?
The reasons mentioned above are more than enough to justify why more and more bettors are choosing to bet on the bitcoin casinos.
Many bettors are choosing to bet on the bitcoin casinos because they provide the convenience of betting from anywhere with the help of bitcoin wallets. Also, benefits like challenging to get manipulated on the internet, easy to track, regular alerts.
Also, bitcoin casinos are not bound to any protocols that traditional casinos have to follow. Therefore, players from all over the world can come and sign up at the bitcoin casinos without having to think about whether I will be allowed to play in this casino or not. All in all, the coming years will witness a rise in the demand for a bitcoin casino.
Many people have begun to invest in bitcoin because, ultimately, it is the future. Owing to the popularity of bitcoin, many crypto wallets are being generated regardless of the fact that there is a rise or downfall in bitcoin.
This year more and more bitcoin casinos are anticipated to open. If cryptocurrency is the future of the online casino industry and if you want to start betting on the online casinos with bitcoin, then this is the right time!