Bitcoin casinos are becoming very popular nowadays. Though Bitcoin-only casinos are not as numerous as fiat currency casinos, more and more fiat-currency casinos are opening themselves up to the cryptocurrency. Thanks to payment providers like Bitpay, integrating Bitcoin transactions for an online casino has become a lot easier and does not require much effort as it used to. Thanks to this, Bitcoin has slowly changed the face of online gambling market and continues to change it.
The biggest question that many ask is why Bitcoin? As a currency, it may not seem so different from dollars and euros. However, it needs to be remembered is that, unlike fiat currencies, Bitcoin was conceived to operate online.
When Satoshi Nakamoto released his Bitcoin white paper in 2009, he outlined a cryptocurrency that works well with the global nature of the Internet. Currencies backed by governments are often regulated by both local and international laws.
For example, the Chinese government is strict about online gambling and the movement of yuan outside of China. There are also similar restrictions for US dollars when used for gambling. Bitcoin has no such restrictions, meaning that users can be anywhere in the world and they will need not worry about their transactions being blocked or monitored.
Bitcoin also happens to be a bit of a technological wonder. Secure and safe transactions are a worry for many people doing deals over the Internet. Hackers and security breaches have often made people hesitant making online transactions. With Bitcoin, online gamblers would be sure about the safety of their stash.
Additionally, Bitcoin is also cheaper. Normal banking transactions use the SWIFT network, which is maintained via the charging of transaction fees as high as five percent. The blockchain network that allows Bitcoin to operate can process transactions without asking for a fee at all. The result is that players can get more bang for their buck and get the most of their winnings.
Notable Bitcoin casinos
Online gamblers are understandably appreciative of these advantages. This is why a lot of online casinos offer Bitcoin as a means of transactions nowadays. For those interested in trying them out, there are several notable examples of a Bitcoin casino.
First, there are those casinos that accept Bitcoin and fiat currencies. An excellent example of this is BitStarz which is well-known for its impressive line-up of games. There are also Bitcoin-only casinos like Betcoin.ag and mBit casino. mBit Casino can boast its streamlined interface and its great VIP program. As for Betcoin.ag, the site regularly announces promotions and bonuses for its users to use.
Bitcoin usage in casinos continues to increase as more and more people are becoming more open to the use of the cryptocurrency. Bitcoin’s help in making online gambling more accessible makes it a great ally for many online casinos.