Crypto casinos are trending in popularity and much of it has to do with bridging the gap between transferring money from one place to another in a faster and more efficient manner. At the same time, this gives Bitcoin another dimension and practical use apart from solely being used for the purpose of storing value.
Today, we will take you on a journey inside the world of crypto casinos and let you in on what’s under the hood.
What makes cryptocurrencies such an attractive proposition for gamblers?
The problem with traditional wire transfers lies mainly in how long they take to arrive. But thanks to no limit casino and similar providers opening the doors to Bitcoin as the preferred payment method of choice, the amount of waiting you have to do before playing has been reduced to mere minutes. The same goes for withdrawing your winnings.
The speed and convenience of blockchain transactions outclass its traditional counterparts. Source: Pixabay.com
Built-in privacy
Furthermore, there’s the element of preserving your privacy. Unlike a regular online casino, a Bitcoin casino will not ask you to submit a copy or scan of your government-issued ID. Although they have a legitimate reason to ask for one to prevent money laundering, fraud, and underage gambling, many people are not comfortable with the idea of jeopardizing the security of their sensitive information and subjecting themselves to the risk of identity theft.
Low transaction fees
Unlike traditional casinos, you will not be hassled with a myriad of taxes and other duties when playing at a Bitcoin casino. In essence, any fees you will incur as a result of transferring your funds are either low or non-existent. Since no payment regulator or institution has a say in the Bitcoin casino sphere, these costs are expected to stay low long into the future.
Accessibility and convenience
In certain countries, gambling is frowned upon, and the local authorities will do everything they can to prevent people from taking part. The unfortunate part of it is that, sometimes, even tourists from other countries are barred from enjoying these activities, the very same ones that would be perfectly accepted, legal, and normal back in their home country. Bitcoin casinos do away with this artificial barrier due to allowing anyone to deposit and withdraw their funds from any part of the world.
Bonuses that could skyrocket any minute
It often happens that Bitcoin casinos offer bonuses and prizes in a fixed amount of BTC. But as you all know, Bitcoin’s prices tend to fluctuate in value. In other words, while 1 BTC may equal $30,000 one day, this may jump to $40,000 the next. So if you consider yourself to have an eye for opportunities, you could set off to pick the right moment to participate and try to win one of the prizes that is paid in BTC.
A wide variety of games
Last but not least, Bitcoin casinos are known to give you access to a wide range of games you could be playing. Inside, you will find blackjack, roulette, baccarat, and all other forms of genres you’ve grown to love and enjoy. In the recent years, live casino games have started getting traction, as they allow you to safely socialize from the comfort of your chair. By taking advantage of these, you can find yourself having a chat with the dealer and the participants, making you feel as though you’ve landed straight into one of Las Vegas’ largest ballrooms.
With the ever increasing popularity of cryptocurrencies, Bitcoin casinos are popping up like mushrooms. As people become familiar with making payments in Bitcoin, expect them to pick up the pace even more.
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