From a niche activity that was illegal in many parts of the globe as recently as 10 years ago, visiting an online casino has become as widespread as it has popular. With so many sites to choose from, casino operators must try to differentiate themselves from the competition and entice gamblers to their domain.
One of the ways in which they have tried to achieve this is through the launch of the Bitcoin casino, which is becoming more and more commonplace by the day. But why would anyone choose to gamble in cryptocurrency rather than the fiat currency of their country? What are the advantages of doing so? Here are five of the main benefits of visiting an online casino which accepts Bitcoin over their traditional counterparts.
First launched in 2009, Bitcoin was designed to do away with the middlemen of banks and other financial institutions, instead putting the control of the currency in the hands of its users. This means that when you make a deposit or withdrawal in Bitcoin at an online casino, you can maintain absolute anonymity. The transaction itself will be recorded for posterity in an unalterable blockchain ledger, but the identity of those involved can remain private.
That aforementioned blockchain technology is the key to keeping Bitcoin (and many other cryptocurrencies) as safe and secure as possible. Although no one is able to view your identity, the data pertaining to the transactions themselves is publicly available. This means that it is almost impossible to hack into or alter a blockchain record, so you can rest assured that your assets are in safe hands when you use a Bitcoin casino.
The fact that there are no middlemen between you and the casino means that all transactions can be processed at a much faster rate. Of course, the blockchain will still need to be analysed, processed and amended, but in the majority of cases this takes a matter of mere minutes, sometimes extending into hours. Given that international bank transfers can take up to five working days to process, that’s a far more expedited timeline.
With traditional casinos, there are payment platforms, banks and other financial organisations who must handle transactions – and each of them takes a small piece of the pie. While that might not amount to much on an individual level, it can cumulatively add up to significant sums. By doing away with those overheads, Bitcoin casinos can make the entire experience far more cost-effective for their users.
Indeed, the overheads are not only reduced for the consumer, but for the site in question as well. Often, Bitcoin casinos will seek to gain a competitive edge over traditional sites by passing those savings onto their customers in the shape of lucrative sign-up offers, loyalty bonuses and other enticing promotions. For that reason, it’s advisable to shop around before you register with an online casino to make sure you’re getting the best deal possible.
Now that you’re aware of the incredible advantages of using Bitcoin to deposit at an online casino and try to strike it lucky, what are you waiting for?