How crypto has changed the world of Online casinos
How crypto has changed the world of Online casinos
Online Bitcoin casinos allows users to deposit funds to gamble and make impressive wins. Casinos are often posed with the decision of which payment methods to accept. Bitcoin is among one of the most acceptable methods due to its underlying transaction features. Bitcoin allows casinos to accept money fast and allow players to make bets almost instantly. This allows casinos to make more money and brings an easily accessible game to gamblers who in return can yield large profits. Cryptocurrency was only created a few years ago, but has now penetrated almost every online gambling casino in the world.
Players can send money and bet online without going through a third party system. This allows the transaction costs to be settled in the matter of minutes, and allows the transaction fee to be minimal. When you send a transaction you don’t need to submit personal details so people from all over the world can access the online gambling games. Today we will go over the benefits of Bitcoin in online gambling casinos and discuss the future impact that it could have on the industry. We will also go over some resources you can use to find the perfect Bitcoin casino for your needs.
How Does Cryptocurrency Work with Casinos
For you to use Bitcoin at an online casino, you first need to learn how it works and why Casinos would accept it in the first place. The first Bitcoin casino was launched in 2012 and was the pioneer in the online gambling space. Other cryptocurrencies soon were being accepted to give further availability to the players. When a player wins a slot or other online game, a withdrawal made via Bitcoin is actioned and the player can receive the funds near instantly. This anonymous and fast payment method has been a major steppingstone for the appeal that online gambling casinos have today. The online gambling industry has seen a 100% increase year over year since 2012 when the first online bitcoin casino was founded.
Benefits of Using Cryptocurrency in an online Casino
Bitcoin gambling is very secure due to the nature of the blockchain. You can not chargeback a payment, so casinos can be sure players will not cheat them. The same goes for the players, once a withdrawal is sent out, the casino can not pull any of the funds back. Players can safely store their cryptocurrency in a hardware wallet so thieves and other criminals can not have access to it.
The blockchain is available to the public via the ledger, so anyone can verify transactions and gain full transparency.
Bitcoin is cost effective
Since middlemen don’t need to be used like in the traditional financial market, Bitcoin can be a cheaper alternative method. When you use a payment method like a credit card you will pay high fees and is riskier for the Bitcoin casinos to accept it. When you use Bitcoin, you are paying miners a small fee, and casinos can trust you won’t get the funds pushed back.
Bitcoin can be sent across global boarders, while payment methods such as ACH cannot and is not accepted by everyone. When you send money to another country in the traditional system, you may have to pay a large fee in addition to any currency exchanges.
Where to look for the best Online Bitcoin Casino?
If gambling with a decentralized currency is interesting to you, then we have the perfect solution. Our platform allows users to find the best casino that fits their gambling needs. If you head over to our home page, you can find thousands of online Bitcoin casinos at your fingertips that are rating up to five stars showing you the best online casinos. You can also use a custom filter to figure out what payment method is supported, or even what countries are restricted.