Cryptos are the new currencies revolutionizing online gambling. A few years ago, most online casinos traded in cryptocurrencies, while most of them took it as a joke. However, in today’s market, most casinos are beginning to buy into the idea of digital currency. As if that is not enough, casinos have gone as far as accepting cryptocurrency, thus adopting the name Bitcoin casinos.
So, with that in mind, today’s work focuses on reasons why more and more casinos are shifting into bitcoin currency. Further, we will also have a look at the advantages of Bitcoin currency I online gambling, and if it’s the future of online casinos.
1.Casinos running on bitcoins are more transparent
Traditional casinos have a lousy record of using various schemes and tricks that give them the edge over their clients. They are also hailed for concealing potential winnings and various information from clients. Sadly, most gamblers are usually unaware of such schemes and end up losing their money instead. In other words, most traditional casinos typically steal from their clients in a dodgy manner.
Luckily, Bitcoin casinos have eradicated the survival of doggy schemes implemented by traditional casinos. Bitcoin casinos are more transparent and provide a straightforward platform that is frequently monitored. If the odds are illegal and cooked, then the casino is likely to be closed. As a result, this makes such casinos more legit and more precise for gamblers. In turn, this ensures mutual positivity between the bookmaker and the gambler.
2.bitcoin betting casinos are safer
Another talking point that has made bitcoin betting casinos popular is security. Most traditional casinos operated on an insecure system that requires customers to share private information. Providing this information to such casinos makes you vulnerable to hackers.
While some might claim that none of your information is stored in their servers, some of this information is stored in web browsers. This information can be retrieved by hackers who will, in turn, make life a living hell. Luckily bitcoin casinos eradicate these predicaments in simple steps, thus guaranteeing user safety.
First, when signing up for bitcoin casinos, clients don’t need to key in their personal information to register successfully. In most cases, all they have to do is deposit funds to a commercial gambling address, and you are good to go. Second, Bitcoin casinos also eradicate the tiresome chore of filling out your details when joining a betting site. As such, this makes Bitcoin casinos safer than traditional casinos.
3.Bitcoin Casinos are Convenient
Most cryptos run on bitcoin as the parent currency. Bitcoin is a global currency that you can access globally. As a result, this gives bitcoin an added advantage in countries that prohibit gambling. For countries with unreliable online casinos, users can sign up with bitcoin casinos and enjoy gambling with ease. Also, gamblers using bitcoin casinos are guaranteed that they are using a legal site. As a result, this guarantees that gamblers can access their winnings easily and make withdrawals when they want.
4.Bitcoin casinos are cheaper than traditional online casinos
Traditional online casinos are flawed by their high transactions when making withdrawals and deposits. To make matters worse, gamblers also charade with high taxes and duties; this, in turn, reduces their winnings. However, with Bitcoin casinos, most transaction charges are nearly absolved since its either low or zero.
Bitcoin is an independent currency and non-regulated by financial institutions. As a result, this makes transactions cheaper for clients. Additionally, gamblers making withdrawals are subjected to low transaction charges. Consequently, this makes bitcoin casinos a preferred option over traditional casinos.
The history of bitcoin casinos?
In 2009, Bitcoin made its first entrance into the market. This was a time when online casinos were making waves in the market too. Back then, casinos were not ready to accept bitcoin due to license issues. At that time, casinos that offered bitcoin services did so for a while and shut down bitcoin payments. However, as the years progressed, bitcoin became more dominant in the market. It gained fame until a large majority of people started using the currency. As such, this made most online casinos to rethink their move and invest in Bitcoin payment.
The sky is the limit for the future of cryptocurrencies. Cryptocurrencies are likely to play a significant role in reshaping the world’s economy in the future. This means that cryptos will increase in popularity. As such, this will allow them to dominate and influence currencies traded by betting firms. Because of this reason, most online casinos and betting sites will have to switch to Bitcoin. However, before this happens, a few things need to change.
Currently, most online casinos don’t want to trade in cryptos because of the hassle it takes to convert the currency. Add to that the fact that bitcoins are unstable. This means that their value can depreciate at any time. As such, this poses a significant loss for casinos accepting bitcoins. Therefore, for bitcoin to be accepted as a global payment option by most online casinos, bitcoin has to be more stable.
The value of bitcoins has fluctuated and gone up most of the time. However, recent fluctuations and dips of bitcoins value have raised a red flag over its stability. Despite this fact, more and more Online Casinos add Bitcoin to their payment methods, because users love it and thanks to blockchain-technology it’s also fast and reliable. Top10-casinosites.net has listed and compared the currently best Online Casinos where you can use Bitcoin to play. Since they always keep their rankings up-to-date this site is definitely worth a visit.
The bottom line
Bitcoin has the potential to transform the future of online casinos. However, this is not possible; the currency fails to solve its stability issues. Regardless, if the above issue were to be addressed, and coupled with its popularity, then bitcoin would be the next big deal in online gambling. Bitcoin would be an unstoppable force that would reign the gambling industry for decades to come.