Digital assets are changing the whole concept of the finance industry and payments at the speed of light. With only a decade of existence, so much has been developed, so many rises and falls have happened, especially with the most famous crypto, Bitcoin.
Some people were suspicious about its future, predicting it’s a balloon just waiting to burst. Others were investing and mining like mad, being completely sure it’s the future of the finance world. The truth is the main character is volatility, however, the recent rise in the bitcoin price has proven many predictions wrong. It takes just a small rise in value for it to reach its all-time high. And its application on the market is more and more represented, in all sectors.
The biggest contribution the crypto world gave is the technology of blockchain, no doubt. Not only it made decentralized currencies stay, but it also gave a promise to be applicable and ensure safety and transparency in so many industries. Which of course did not bypass the game of chances industry. Ever since bitcoin became a way of payment in online casinos, it’s popularity only grew. The tendency of growth continues, and in this article, we’ll discuss why bitcoin casinos are gaining so much popularity among gamblers.
1. More and more casinos are accepting them
By the time we are writing this, there are countless casinos accepting bitcoin as the payment type. Check out this casino site if you would like to try using this type of payment to gamble online, but via a safe platform.
Safety is the first thing you need to be aware of when gambling online, especially with crypto. The Internet offers many different websites, but a smart thing to do would be to research and read other player’s experiences with a particular platform, to make sure you deposit on the safe servers. Those who have a bad reputation are surely poorly rated on many forums, the internet has always been transparent about these things. This does not mean there aren’t safe bitcoin casinos, on contrary. It’s simply better to be safe than sorry.
2. Deposits are easy to handle
For people who are completely new to the idea of using this type of payment, a little bit of reading or advice or two could do good, before they’re set out to create their first deposit. Once the research is done, and a deposit is created, then one needs to figure out a way to earn some more digital assets, to be able to gamble more. Luckily, this is a piece of cake. Just as there are many casinos, places for trading, buying, or exchanging crypto are also many. You need not have a finance degree in order to figure out how they work, they are created in a way anyone can use them.
When you register, you automatically have a place to accumulate crypto (the wallet), and it is your basis for gambling. If you don’t have experience in transferring money with which you can buy more, you must have a friend who trades digital assets, or mines. Everybody does. Ask them to transfer some money to your account and use it to buy bitcoin. From the wallet you possess, you can transfer coins to your casino deposit and gamble.
3. Because of blockchain
Several reports are written recently about where cryptocurrencies are being spent the most have shown that people use them mostly to buy goods and entertainment. It explains a lot why its application in the game of chances industry is on the rise. It only adds one more point to the list regarding the usability of these digital assets.
It truly has a huge rise in the online casino industry. The digital assets market is not famous for enabling people to earn huge amounts of profit in a short time, however, being able to gamble with crypto changes the whole story. Using it for gambling, and winning makes it a bit easier to double or triple the amount of crypto one possesses. It’s also a smart move, because the usage of blockchain in online casinos is still a new thing, even though the popularity rises. Therefore, casinos offer many tempting advantages.
The technology of blockchain is known to offer transparency in all industries that use it. The advantage of gambling on websites that use this technology is in the fact that the website cannot nullify your wage, if you’ve placed it, because of this transparency. Gamblers and their investments are therefore much more protected than before.
The second thing any gambler appreciates is privacy. Classic gambling offers a decent level of discretion, but blockchain and online casinos are a perfect match. It’s as private as it can be. Tracking who performed the transaction in the case of using crypto is impossible.
And last, but not least important is the speed of withdrawing and depositing. The fact that crypto is decentralized, means there are no mediators whatsoever involved in the transfer. Therefore, for whatever purpose you use them, it’s quick. They can be performed instantly, regardless of the period of the day, giving you full control over your assets.
4. It’s a double advantage
At one point we have mentioned there is a possibility to earn bitcoin by gambling. The classic way of earning is either buying the coins via some of the exchanges you use for deposits or via mining.
Mining requires a lot of investments in the equipment. When you assemble and buy the suitable equipment, you need to find people to mine with, that is enter a pool, which will make your mining more productive and way quicker than when you’re performing it alone. Then all that process requires electricity. You can expect the electricity bill to rise. At the end of the day, when you do the calculation, is it worth it? Gambling is a fun activity. You win, you satisfy your ego. You win bitcoins, you win a possibility to increase your wealth.
