Blog Posted on 22/12/2020 | Author: Karen Macarthur
What Makes Bitcoin Gambling so Popular Among Players?
Online gambling continues to grow as many experts have predicted in recent years. This is true even though a pandemic has hit many countries. People continue to gamble despite the health crisis and this is understandable because land-based casinos are closed and physical or social distancing is required.
Now, even without a pandemic, more and more people have turned to online gambling. This is mainly due to convenience. Online casinos have simply made gambling more accessible and gamblers are all in favour. This is mainly because it is also easier to gamble online than in live casinos. You can do this wherever you are without too much trouble.
Part of the convenience of online gambling is the ability to deposit into your gaming account in a number of ways. Most mobile casinos have options like using 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 country.
However, there seems to be one particular payment option that is becoming more and more popular in recent years and this is the use of cryptocurrencies which lead to the rise in Bitcoin gambling.
The Rise of Bitcoin and Other Cryptocurrencies
Cryptocurrencies aren’t exactly new, but they’re still in their infancy. Bitcoin has been around since 2008 and has been used by the public for about a decade now. It didn’t exactly explode as soon as it was released to the public. Many were and still are hesitant to use cryptographic, be it Bitcoin or others, which is also why most of them are staying away from Bitcoin gambling.
It took years for Bitcoin to get to where it is today. In 2017 it gained some popularity. This is when its value peaked at around US $ 20,000 per Bitcoin. Since then, more and more people have shown interest and companies have begun to embrace its use.
One of the industries that have embraced the use of Bitcoin and other cryptocurrencies is the online gambling industry. Recently they introduced Bitcoin gambling which made it easy to play casino games with Bitcoins. Currently, there are now many casinos that allow cryptocurrency as a payment option. There are also online casinos that only cater to cryptocurrency users who are more known as Bitcoin casinos.
Security and Guarantee in Bitcoin Gambling
Many gamblers out there, intrigued by Bitcoins, often wonder how safe it is actually to use cryptocurrency to play in online casinos. Nowadays, they hear all sorts of things, including fraud and theft, and security is certainly an important factor to consider, before depositing your bankroll in an online casino, risking everything. Well, if that worries you, our casino experts can point out that Bitcoin gambling is one of the safest methods you can choose.
In our opinion, one security option that has allowed Bitcoin to emerge is its ability to be able to send money from one Bitcoin address to another without involving third-party controlled tools. This cuts out the use of an intermediary, such as an e-wallet, credit card, and so on, which often requires you to provide personal information.
All Bitcoins are isolated in a segregated offline system, with no internet connection. Therefore, this eliminates the possibility that data can be stolen. Each Bitcoin wallet using an offline desktop system is encrypted with the most advanced technologies already used by banks, governments and financial institutions.
Why Bitcoin Gambling is Gaining More Attention
There are a few big reasons why gamblers choose to gamble with cryptocurrencies and here are a few.
– Easy and fast
Bitcoin gambling is available for all Casino games, be it online roulette or online blackjack. What you should know about cryptocurrencies is that they are decentralized. This means that no one is involved in processing your cryptocurrency transactions. This is an end-to-end transaction which is why it is typically faster than other payment options such as transactions with local banks.
It is also easy to use as you only need the wallet address to be able to send the cryptocurrencies to another user. If you have used digital wallets before, you shouldn’t have any difficulty transacting with cryptocurrencies.
– Safe and private
Every cryptocurrency transaction is encrypted and therefore you can be sure that the transactions you make are safe. Since it is also an end-to-end transaction, it is nearly impossible for your transactions to be hacked or sabotaged.
You can also easily check the status of your transactions to make sure your payments are received as they were recorded. What many gamblers also like about bitcoin gambling is that they can deposit their gaming accounts anonymously. This means that they can gamble online anonymously. However, be aware that there are casinos that require you to submit some of your personal information to ensure that you are of legal age and that you are playing legally in their casinos.
– Generally cheaper
Since cryptocurrency transactions are decentralized and no intermediaries are involved for payment processing, there is no need for someone to be paid to process and confirm payments. This is mainly why Bitcoin gambling is generally cheaper compared to other cryptocurrencies.
This is not only for customers but also for the online casino operators themselves. It is also typically cheaper to run a Bitcoin casino and apply for a license to do so. This is why Bitcoin casinos are usually generous with the promotions and bonuses they give their customers.
Overall, many say the use of cryptocurrencies in the future of not just online gambling but e-commerce as well. More people are expected to use Bitcoin in the coming years. Experts have reason to believe that Bitcoin’s value will eventually fluctuate less. When this happens, more people will feel more comfortable using cryptocurrencies in their online transactions, including online gambling. More advancement will surely come in future online casinos.