As we slowly enter the era of online transactions and payments, you may notice that alternative payment methods and currencies are becoming more popular and increasingly replacing the traditional transactions we are used to. One of the most common forms of online payment is precisely payment with cryptocurrencies, and as we see that one by one online stores and even physical facilities are starting to offer the option of paying in this way, it was inevitable that this would happen quickly with casinos and online bookmakers as well. Even with a lot of traditional payment methods available in online casinos, more and more players are switching to cryptocurrencies. Some of the more popular cryptos that online casinos are accepting are of course Bitcoin, Ethereum, and Solana.
What is a bitcoin casino?
Bitcoin casinos represent a form of online gambling sites that use Bitcoin as their primary source of payment. They offer the same variety of games as any other traditional online casino world, with the main difference of allowing gamblers to make deposits and withdrawals using Bitcoin.
Why is crypto so popular?
For starters, a good question to ask is exactly what makes cryptocurrencies such a popular form of payment lately. Many people as well as a lot of financial critics and economists strongly believe that crypto is bound to replace regular currencies in the following 5 to 10 years. Those heavily involved in crypto even argue they will democratize the currency by getting around the reliance on banks. At first glance, it also seems that anybody with a computer could give it a shot at mining for cryptocurrencies, and since the current value of Bitcoin is set at around 20 thousand dollars it does sound like a great chance to make money, and as many believe, crypto presents one of the best long term investments for earning a passive profit.
Another very important reason and probably one of the biggest advantages is that cryptocurrency transactions can be processed in a matter of minutes whereas bank transactions have been known to take a few days even. Also, the identity and personal information of the person making a transaction as well as details about the transaction itself remain relatively anonymous.
But how do all of these advantages come in handy while gambling online?
Well, to start we have a major factor of security involved. As you probably know most online casinos require you to give personal information as well as banking details when registering. Now I think we can all agree that we give credit card information reluctantly, even on supposedly, safest sites because there have been instances of hacking and stealing credit card information even from the most secure websites out there. On the other hand, with Bitcoin casinos, safety and security come first. Users’ information is safeguarded which means you only have to fill out your information once and make a safe deposit via the given address.
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They provide a convenient way to gamble for those who are unable to reach different online gambling sites, for instance, players from countries where gambling isn’t allowed or is restricted. With Bitcoin , they can reach online gambling sites safely.
Another great perk that comes hand in hand with this is the way you can handle your winnings, as Bitcoin users have access to their funds immediately, and most importantly without those additional fees that you would otherwise have to pay when playing in traditional online casinos. Since bitcoin casinos aren’t regulated by any institution, transactions are very affordable.
If you are wondering how to find Bitcoin and Crypto casinos here is some helpful advice:
- When you find a gambling website that you like, make sure you check the payment methods that the casino offers to make sure that they accept cryptocurrencies.
- Dive into the gaming library of the casino to make sure it has the games that you usually prefer to play.
- Check the licenses and regulations of the casino before you leave any personal information or make a deposit.
- Check if the casino is reliable
- Take a look at the range of promotions and bonuses that the casino offers. Since crypto casinos are still a growing business a lot of them aim to attract crypto users by offering many great deals for crypto users. Try to find a casino with the widest range of promotional offers.
- Once you have decided on your preferred online casino that accepts cryptocurrencies, start depositing so you can enjoy your favorite games.
To end this off let’s take a look at some of the cryptocurrencies you can use to gamble online.
This is the commonly known currency with the biggest market capitalization of all virtual currencies. Some of the biggest advantages of bitcoin include low processing fees, worldwide payment, and fast transactions. Even with growing competition, bitcoin remains the most popular cryptocurrency in online casinos.
Ethereum is not only the second-largest cryptocurrency in the world but also an open-source blockchain platform. It is often used to create new games as well as gaming apps. It also allows its users to build and deploy software in the form of decentralized apps, which is also one of the reasons that many people consider it to be better than bitcoin.
Solana is a public blockchain, similar to Ethereum, and its currency is called SOL. It allows its users to apply user-friendly applications for people. Solana is very popular for its wide range of features.
Hopefully, this simple guide helps you understand the world of cryptocurrency as well as the impact that crypto has had and continues to have on online gambling. Make sure to give it a try since many believe that Bitcoin casinos are the casinos of the future.