What are the upsides to Bitcoin gambling?
As the world shut down due to a global pandemic, some industries like tourism were affected. But one sector that was somehow positively affected is the online gambling market. Especially with the increase of the Bitcoin value, cryptocurrency gambling sites saw an increase in new player accounts.
Apart from Bitcoin, other digital currencies commonly used in online casinos include Litecoin, Dogecoin, Ethereum, Dash, Monero, and BitcoinCash, to name a few. But why are players interested in Bitcoin gambling? Here is a complete guide and with a list of best BTC casinos where you can visit today.
What exactly is Bitcoin gambling?
Well, Bitcoin gambling is placing bets in online casinos using BTC and earning the coins as winnings. There is not much difference between traditional casinos and Bitcoin gambling platforms. You will still get to play the usual slots, table games, and even live dealer games using the cryptocurrency. The only change is that you will not be using FIAT money at the iGaming sites.
Bitcoin gambling has become a fan favorite among punters since there are some benefits that come with playing with the crypto coin. Some include;
Low/no transaction fees
Bitcoin online casinos do not charge for deposits or withdrawals. What’s more, when cashing out at an online casino, the winnings will be sent directly to your wallet address. So, unlike other banking options like credit cards or wire transfers, you will not have to incur any transaction costs when using Bitcoin.
Quick payment processing
One of the best features you will get to enjoy with Bitcoin gambling is fast payment processing. Unlike other deposit options, Bitcoin payments are processed within minutes or less. You only have to provide your wallet address at the cashier page for the payment to be finalized. So, if you want some quick cash, you should consider using the crypto coin.
Online gambling security
Bitcoin uses blockchain technology. It offers a secure atmosphere for people to transact between peers without having to worry about anything. So, this makes it more attractive to online gamblers. Blockchain technology also ensures that all the transactions are recorded and makes it hard for any outsider to access your money without your permission.
Bitcoin gambling allows players to enjoy anonymity when at an online casino. Traditional payment methods like credit cards will require your private details like your place of residency to complete the transactions. But with Bitcoin, you will only need to provide the wallet address, and the funds will be credited into your account. What’s more, there are no monthly statements like with bank transfers.
Special bonus offers
The best Bitcoin online gambling sites offer exclusive bonuses to their players. In most sites, there are welcome bonuses, reload bonuses, cashback offers, and VIP reward programs. Apart from that, some traditional casino sites will have a special bonus for when players deposit for the first time using BTC instead of FIAT money.
No geological restrictions on participation
There are some online casinos that don’t allow users from specific regions to play real-money games. This can be because the payment options offered on the sites are not available in these regions. But with BTC, anyone can open a wallet address and gamble with the coins. However, some countries like China have banned cryptocurrencies.
Bitcoin online gambling has more benefits compared to drawbacks. For that reason, most players are more interested in gambling with the crypto coin. So, we can only hope that the industry will continue to grow as more punters continue to learn more about wagering with cryptocurrencies.