The World Wide Web was created in 1990. In 1994, the first casino was legally allowed to wager real money online. Since then, online casinos have become increasingly popular, thanks to the many benefits that online gaming has to offer. Not only is online gaming cheap and convenient, it’s also a fun hobby to have available whilst on the go. Players also see a chance to win from the comfort of their own home or on the road, with quick and easy access to their favorite games thanks to mobile apps.
It’s easy to see why the internet-based casinos are quickly taking over from their physical counterparts, especially as one of the most appealing features of online casinos is the wide range of payment methods they offer. Many online casinos aren’t just offering PayPal and wire transfer options on top of paying with a debit or credit card, they’re also accepting Bitcoin.
Is this the gambling currency of the future?
What are Bitcoins?
Bitcoins are a kind of digital currency which is both checked and controlled via digital encryption. It involves a peer-to-peer system of making financial transactions, which has no centralised bank but instead uses open source software, without the need for any middlemen. Bitcoins can be purchased from private sellers or exchange companies, and are then held in a digital Bitcoin ‘wallet.’ They can be used to buy a wide range of things online, and used for casino games like roulette and slots. You can find more information right here.
There are many reasons why Bitcoin has recently become a popular payment option at online casinos, but it is perhaps the swiftness of payments that has catapulted this currency to success in the industry. When paying in Bitcoin, cashing out and depositing payments is instant for smaller amounts, and even when you’re paying or receiving a larger sum, the transaction will likely take no more than a total of ten hours until it is finalised. This is a welcome contrast to many other payment options, with many casinos requiring players to wait days before they can deposit or withdraw money. Unlike many bank transactions, Bitcoin transactions are also completely free of any additional charges.
Fair and Trustworthy
When looking for a fair, trustworthy online casino, players can go to the best review for this. However, it’s not just the casino that you need to look at, learning how their practice is regulated and how fair they are as an industry provider. Since many of the best casinos which accept Bitcoin are regulated and licensed, when paying with this currency, you can be sure that all of your financial transactions will be made securely and that your data is protected. Thanks to the cryptographic innovations of Bitcoin, it has quickly become not only accepted, but a better choice of payment for online players since Bitcoin gaming is provably fair.
It can be inherently difficult to keep your identity a secret on the internet today. If you’re hoping for some private gaming so you can remain anonymous throughout, Bitcoin is the perfect payment option. Bitcoin gaming sites will allow you to pay and play anonymously, allowing a higher level of privacy without providing the casino with details such as your name and full address as you deposit and withdraw funds. Along with increased privacy levels, another benefit is that it’s much faster to get set up with far less information to give. Using Bitcoin completely eliminates the need to use your credit or debit card to make payments or withdraw money from your casino account. This offers you a far greater level of privacy and protection against cyber-fraud.
Have you used Bitcoin to pay whilst online gaming? I’d love to hear feedback on your experience.