Advancement in technology has positively impacted a lot of things globally. The introduction of cryptocurrency and blockchain technology continues to be an unmatched innovative development in the financial world.
Over the past years, cryptocurrency has taken over a large part of the global financial market, serving as a decentralized way of conducting financial transactions. Additionally, it has paved the way for the seamless integration of blockchain technology with online casinos. Therefore, you can wager on your favorite crypto casino with Bitcoin, like Coinplay.
The online casino industry is also a fast-growing segment of the global financial market influenced by Bitcoin and cryptocurrencies. In the last year, revenue from online casinos grew by nearly 20%. That’s a massive increase, and it’s only the beginning. Since then, the number of
Bitcoin and Online Casinos
When Bitcoin was first introduced, many people did not accept it due to its inherent anonymity. However, this is also the main reason why it gained massive popularity. Today, Bitcoin is considered one of the strongest digital currencies in the world and is being used by a number of online casinos.
This article explains why bitcoin makes sense for any operator looking to get into the online casino business – not just because of its potential profitability or its growing adoption rate among other similar businesses, but because bitcoin offers an excellent user experience compared to other payment options available today. Here are five reasons why bitcoin is the future of online casinos:
1. Safety and Security
The goal of every punter is to win their game. However, if there’s one important thing apart from that, it would be securing both their money and winnings. Therefore, casino users always look at security and safety when choosing a preferred online casino or payment method.
However, Bitcoin is excellent for all forms of financial transactions, making its mainstream adoption more rapid, especially among punters. In online bitcoin casinos, everything is transparent so that users can rest assured that their assets are always safe. Meanwhile, its decentralization makes it impossible for anyone to tamper with transactions, decreasing the danger of asset loss to theft or fraud.
2. Anonymity and Privacy
User anonymity and privacy are one of the caveats of using traditional online casinos. Wagering on your favorite online casino game with these platforms exposes your personal and bank information.
This can be dangerous, especially when you don’t want these activities to reflect in your bank statement. Therefore, it poses you with a risk of financial activity exposure.
However, with Bitcoin casinos, your activities are highly encrypted on the blockchain, and you do not have to worry about exposing your personal and bank details to anybody. All you have to do is process transactions with your crypto address.
3. Light speed transactions
Getting started in a regular traditional online casino can be extremely stressful. Users may need to submit payment and identity documents before getting their payment processed. Meanwhile, withdrawing your winnings can even take several days.
However, the light-speed transaction processing time is one of blockchain technology’s blessings to online bitcoin casinos. After winning from your casino Bitcoin games, you can easily withdraw your earnings in BTC casino within seconds hitch-free.
4. Ease of Use
In a world with fast pacing technological success and advancement, simplicity and excellent user experience seem to be another great need. Starting with an online casino, the stress of completing your KYC and verifying payment information can discourage new punters.
Using Bitcoin to stake in a Bitcoin casino requires no technical skills, which is why many gamers prefer it. There is a need to complete KYC or set up a payment method. Few on-screen instructions are enough to set you in motion with playing your first Bitcoin casino game.
5. Geo-Location Freedom
Accessibility has always been an issue with many traditional online casinos all over the world. While it’s fair to have online casinos free and accessible to passionate punters worldwide, restrictions on geolocation is a barrier to these types of gamers.
However, with the emergence of online bitcoin casinos, it is becoming more and more easier to play bitcoin casino games or bet with your bitcoin in live casinos on the go.
The reason is simple; bitcoin is a decentralized currency, i.e., it is not regulated by the government. This makes it more flexible and accessible anywhere globally.
Conclusion
Bitcoin and online casinos are an incredible natural mutualistic pair. Bitcoin offers an innovative payment method that is decentralized, anonymous, safe, and fast for users.
Moreover, Bitcoin enables enormous financial freedom and independence to its users. This means that no one controls your money, regardless of where you are in the world. You can seamlessly play your favorite casino bitcoin game hassle-free.
You will be happy to know that there are more and more bitcoin casinos that are being added to the list of available online casinos every day. The future of online casinos is looking bright with the continued adoption of Bitcoin and other cryptocurrencies. Therefore, if you’re ready to make some serious money betting and wagering with bitcoins, then you should definitely try out some of the best bitcoin casinos available today.
