Online Casinos have been online for nearly 20 years and have evolved over time. An online crypto casino such as onlinecasinocrypto.com allows its users to play casino games using bitcoins or other cryptocurrencies.
With cryptocurrencies and blockchain technology growing rapidly, and Bitcoin being at the forefront of this movement, OnlineCasinoCrypto has made it its mission to provide all the information you need to distinguish good from bad crypto & bitcoin casino sites.
With the growing demand for cryptocurrencies in the digital market, online casinos have incorporated this technology as one of the new payment methods available for gambling. And although its use and demand online has grown, not everyone is aware of its applications and benefits. Here is what you need to know about this financial trend.
What are Bitcoins?
It is important to differentiate the term bitcoin from that of cryptocurrencies. Although bitcoins are cryptocurrencies, not all cryptocurrencies are bitcoins. Bitcoin was among the first currency to emerge and the most requested. Bitcoin is so popular that it is even the most expensive cryptocurrency in the world, at least until now. Its value – which tends to rise – has convinced many financial observers to advise people to invest in this currency.
It is a currency born on the internet to be used in it. Therefore it does not exist in physical format. It became relevant thanks to its blockchain technology, which allows it to be secure, private and unique. This same demand from the public is what has made its value grow over the years and it is still increasing.
The main advantages of bitcoins in online casinos
The use of bitcoins online has various advantages and they can be useful for various types of transactions, including gambling. Here are three important benefits of the use of bitcoins in the world of gambling.
Decentralization
One of the advantages we like best here at OnlineCasinoCrypto.com is that virtual currencies such as Bitcoin are decentralized. This means that they have no connection with governments or banks at all, which puts you in complete control of your funds. They can’t be blocked, and your account can’t be frozen. Not only that, while playing at a bitcoin casino, you can transfer your funds to a crypto wallet anyone watching.
Transaction Fees
Any e-commerce company needs to make money, and one way to do that is through the transferral of funds i.e., each time a customer makes either a deposit or withdrawal. Conventional payment methods tend to come with high fees at online casinos, as they do anywhere else. Fortunately, blockchain transaction fees are far lower than these conventional methods, meaning that you get to keep more of the money you win than you would at a standard online casino. More money in your pocket means that you can play for longer.
Verification
Another advantage of cryptocurrency is transparency. An example of how this is particularly helpful lies in the fact that, due to the public ledger, your transactions are visible. This means you can prove you made a payment and verify that your withdrawal was made by the bitcoin or crypto casino.
Worldwide Acceptance
One of the goals of cryptocurrencies is to provide a worldwide payment system without any involvement or control from either a bank or a government. Without this national and institutional control, this means that Bitcoin or any other cryptocurrency works exactly the same for all Bitcoin gambling sites, regardless of which country you reside in. Our top casinos accept players from the US.
- Speed:with this form of payment your collections and payments will be much more instantaneous than using debit or credit cards. This is due to the transnational and decentralized nature of these cryptocurrencies. They were born to be used on the internet.
- Cost:this same transnational nature means that they do not respond to financial entities or institutions. Banks generally charge service fees associated with their products. By not having this, the cost of trading bitcoins will be much lower. In addition, at the moment most countries do not apply a tax to this type of currency, with which you will also get a higher margin on that side.
- Privacy: Something great about cryptocurrencies is that they allow a greater reserve. While gambling can be fun, some people don't see it in the same way. Protect your identity and continue enjoying your hobbies.
Now that you know the powerful advantages that bitcoins offer in these situations, you may want to start building your digital portfolio and multiply your money in a virtual way. But before you start betting, keep in mind that not all casinos accept bitcoins. Find the best casino that has adapted to this need. If you are not yet ready to jump into cryptocurrencies, you can continue to use other payment methods at the online casino.
Disclaimer: It is important to play responsibly. Always know your limits.
