Bitcoin and Online Casinos: A Match Made in Heaven

Bitcoin and Online Casinos: A Match Made in Heaven

Technology has revolutionized every aspect of modern life. From learning, transportation to communication, there are innovative technologies making life easier. In the world of gaming, the same trend continues with online casinos gaining prominence over brick and mortar facilities.

With more than half of the world’s population online, online casinos now have more people playing. This also comes with an upsurge in revenues.

The current size of the online gambling market is almost 46 billion U.S. dollars, with forecasts expecting it to double by 2014. This shows the popularity of online gaming over traditional casinos. 

Why Online Gaming is So Popular 

People can now play their favorite games on mobile devices, laptops, and PCs from any location.  Internet technology has made it more convenient to play from anywhere. With the latest technology, you can enjoy more thrill at an online casino compared to your local brick and mortar casino.

At an online casino, you have a wider range of games which offers more excitement and opportunities to win. It is also easier to learn any new game using resources provided on the best online casinos.

However, the main attraction for online gaming has to be the multiple bonuses new players receive. Online casinos offer a variety of bonuses including welcome bonuses and loyalty casinos, deposit casinos among other irresistible offers. These bonuses allow beginners to learn the ropes using bonuses and at the same time, win some money.

Cryptocurrencies Set to Redefine Online Casinos

But things are set to get even better. The internet technology as spawned safer and more convenient payment methods. A few years back, the idea of cryptocurrencies might have sounded farfetched, but today, you can play live casino at Bitcasino and pay with bitcoins or other accepted cryptocurrencies instead of fiat money.

Cryptocurrency is all the rage in the internet landscape. For an online platform that urgently needed a safer way to make a payment, Bitcoin and other cryptocurrencies have come in as a godsend.

Cryptocurrencies are digital assets which work as a medium of exchange just like an ordinary currency. However, the main difference is in the encryption techniques used in the generation of units, transfer, and any other operations of these units. Everything is independent of a central bank.

The potential in cryptocurrencies has seen most tech firms investing heavily in the industry. Facebook is the latest company to join the fray with a recent announcement to create a new cryptocurrency named Libra.

Facebook has joined forces with 28 of the largest companies in the world, including Visa, Paypal, and MercadoPago, as part of the Libra Association developing the cryptocurrency’s code.

In online casinos, many players have expressed fears over payment methods available. As online privacy concerns continue, the gaming industry is increasingly resorting to cryptocurrencies as a solution.

Why More Online Gamers Opt to Use Cryptocurrencies

If you already play at online casinos, you appreciate the convenience that comes with these platforms.  Most likely, you have had reservations with the security of financial transactions due to the growing data loss across all industries.

With cryptocurrency now accepted at online casinos,  players will enjoy an array of benefits including:

1.      Security/Total Privacy/Anonymity

 The best thing about cryptocurrencies is the fact that there’s encryption at every point. This means the player and all transactions remain anonymous. If you have always felt uncomfortable sharing your details at an online casino, you can now play without any fears.

2.      Cost-savings

One of the most frustrating things for online casino players is having to pay multiple fees when withdrawing winnings.  With Bitcoin or other cryptocurrencies, you will save a lot of money through no or minimum commissions.

To enjoy an advantage regarding higher payout percentage, you need to consider playing using cryptocurrencies. There are no fees for bank transactions which eat into your winnings.

3.      Easy Funds Transfer/Withdrawals

One of the main advantages of cryptocurrencies is in making money movement easier. When playing at an online casino, you will find it tedious to transfer funds from your bank to your account.

The same applies to transfer of winnings from your account to your bank or any other destination.  Players sometimes shave to keep a large amount of bankroll online due to the complexities of transferring cash, and this is risky.

With cryptocurrency, all these problems don’t exist. There’s no third party involved in processing your winnings. You can make withdrawals from your account any time or top up your bankroll in seconds to continue playing.

4.      Extra Cash-back Incentives and Bonuses

Most online casinos that accept cryptocurrencies enjoy more activity and extra revenue. They promote the use of this new mode of payment through a variety of bonuses and other incentives. This adds to your bankroll and allows you to play more.

Final Thoughts

There’s no doubt that online gaming has revolutionized the casino industry. However, concerns over the safety of financial transactions on these online platforms have prevented some players from taking part.

With the arrival of the safer and more convenient cryptocurrencies in the online casino landscape, things have are now better.

From Bitcoin (BCH), Litecoin (LTC), Zcash (ZEC), Ethereum (ETH), Monero(XMR) to Ripple (XRP), you have a plethora of cryptocurrencies to choose when playing online.