Why Bitcoin or Other Cryptocurrencies and Casinos are Great Together
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Online casino gaming continues to grow as expected by many experts over the last few years. This is even if a pandemic has hit many countries. People still gamble despite a health crisis and this is understandable because land casinos are closed and physical or social distancing is required.
Now, even without a pandemic, more and more people have been turning to online casino gaming. This is mainly because of convenience. Online casinos have simply made gambling more accessible and gamblers are all for it. This is especially because it’s also easy to gamble online. You can do this anywhere you are without much hassle.
Part of the convenience in online casino gaming is being able to deposit to your gambling account in different ways. Most online casinos have options like the use of credit or debit cards, wire transfer, and digital wallet cards like Astropay. What’s great is that you can use the Astropay Payment Method in India and any other countries.
However, there seems to be a particular payment option that is becoming more and more popular in the last few years and this is the use of cryptocurrencies like Bitcoin, Ethereum, DogeCoin, Litecoin, Ripple, and many other more.
The Rise of Bitcoin and Other Cryptocurrencies
Cryptocurrencies aren’t exactly new but it’s still in its infancy. Bitcoin has been around since 2008 and has been used by the public for just around a decade now. It didn’t exactly blow up as soon as it was released to the public. Many were and are still hesitant to use cryptocurrencies whether it’s Bitcoin or the others.
It took years before Bitcoin got to where it is today. It mainly gained quite a popularity in 2017. This was when its value peaked at around 20,000 US dollars a Bitcoin. Since then, more people showed interest and businesses started to embrace its use.
One of the industries that embraced the use of Bitcoins and other cryptocurrencies is the online casino gaming industry. Currently, there are now many online casinos that allow cryptocurrency payment options. There are even online casinos that only cater to cryptocurrency users which are more known as Bitcoin casinos.
Why Bitcoin Gambling is Gaining More Attention
There are few great reasons why gamblers are now choosing to gamble with cryptocurrencies and here are some of them.
• Easy and Quick
What you should know about cryptocurrencies is that they are decentralized. This means that no one is involved in processing your cryptocurrency transactions. It’s an end-to-end transaction which is why it is typically quicker than other payment options like transactions with your local banks.
It’s also easy to use as you only really need a wallet address to be able to send cryptocurrencies to another user. If you’ve used digital wallets before, then you shouldn’t have a hard time transacting with cryptocurrencies.
• Safe and Private
Every cryptocurrency transaction is encrypted and so you can be sure that the transactions you make are safe. Since it is also an end-to-end transaction, it is almost impossible for your transactions to get hacked or sabotaged.
You can also easily check the status of your transactions to make sure that your payments are received as it is all recorded. What many gamblers also like about using cryptocurrencies is that they get to deposit their gambling accounts anonymously. This means that they can anonymously gamble online. However, know that there are casinos that will require you to submit some of your personal information to ensure that you are of age and are legally playing on their casinos.
• Generally Cheaper
Since cryptocurrency transactions are decentralized and no middleman is involved for payments to be processed, there’s no need for someone to get paid to process and confirm payments. This is mainly why it is generally cheaper to use Bitcoin and other cryptocurrencies.
This is not only for customers but also even for the online casino operators themselves. It is also typically cheaper to run a Bitcoin casino and also apply for a license to do so. This is why Bitcoin casinos are usually generous with the promos and bonuses that they give their customers.
Overall, many are saying that the use of cryptocurrencies in the future of not only online gambling but also e-commerce. It is expected that more people will be using Bitcoin in the next few years. Experts have reasons to believe that Bitcoin’s value will eventually fluctuate less. When this happens, more people will be more comfortable in using cryptocurrencies in their online transactions including online gambling.