Bitcoin – 6 Great Reasons For This Payment Method
Bitcoin as a Payment Method
It’s amazing just how far cryptocurrencies have evolved in so few years. Five years ago, and most people considered things like Bitcoin to be a passing fad, used by those wanting to buy illegal substances from the Dark Web, and would soon disappear. Fast forward to today, and the means of transactions is now a fixed method across many industries.
Of all the cryptocurrencies, Bitcoin still remains the most popular, by a long shot. As a means of payment. it’s already proved itself to be secure, stable, and easy to use. So it’s no surprise that the gambling industry has been relatively quick on the take-up of this new payment method. In fact, within the gaming industry, Bitcoin has created a completely new and exciting sub-market for crypto-cash casinos.
What are Crypto Casinos?
The major difference between crypto-casinos and your regular online casinos is that the former only transact in cryptocurrencies. You’ll find these casinos to be the most generous in terms of return to player. That’s simply because they are able to pass on the considerable savings they make by having no transfer or currency exchange fees to pay as the transfer is a peer-to-peer one. That means the money moves instantly and the transfer has no cost tied to it. These savings are then passed on to the customers, resulting in some fantastic deals.
You’ll also find that the whole sign-up process is so much simpler using a Bitcoin casino. Once you’re registered, then there’s no need for any ID verification for each transaction. This is a huge time saver for most gamblers. As far as the number and types of casino games, you’ll find that crypto-casinos offer all the same products as you’d find in a regular brick-and-mortar casino, or any casino you’d find online. So all your favorite games like jackpot poker, blackjack, roulette, and jackpot slots are all available 24/7.
The Perks of Crypto Payments in iGaming
Many online gamblers are happiest if their online activities are kept secret. Discretion is the key for many players. One of the many bonuses of playing at crypto-casinos is that your identity is totally anonymous making a Bitcoin site the best casino site to play. But there are also some other important plus points which include:
Transparent Transactions
Go to any gambler’s forum on the internet, and you’ll find that one of the biggest complaints is that the casinos are not transparent in their financial dealings with some customers. They will hide funds, whether deposits or when it comes to cashing out, make claims that funds are no longer in your account. All these types of shenanigans are impossible when using Bitcoin. Thanks to the blockchain, which keeps a permanent record of every single transaction, all movement of funds is recorded for everyone to see. In other words, it’s impossible to hide money, as every transaction is open-source.
On the other hand, nothing can be done without the proper key. Bitcoin casinos are often promoted on the essence of their transparency as this ensures trust between customers and the casino. That’s why we feel confident to recommend Bodog Casino. They take Bitcoin and have a huge welcome offer for you.
Safe and Secure Transactions
By law, all traditional casinos have an obligation to collect and store all customer information when they register. This data sweep can include, name, address, credit card, and bank details. Of course, the casinos are tasked with ensuring that this information is kept securely. But cryptocurrency casinos win this hands down, as they don’t collect any personal information. That’s because crypto transactions don’t require any personal or private data. Just a secure key. So, all told, it’s a private system that can never leak or lose your personal information.
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Greater Variety of Games
Modern crypto casinos offer all your favorite games. And then some. That’s because, due to non-existent costs, they are able to pass these savings onto the customer. Some of their games will have an RTP of over 99%, which is much higher than you’d find at any regular online casino. Across the board, all their games will have a higher RTP and even include Live Dealer games within that cash saving. Obviously, this means that your bankroll will stretch further, thereby increasing your jackpot winning chances.
Lucrative Bonus and High Payouts
Whilst we’re on the subject of money, we should talk about crypto casino payouts and bonuses. You’ll find that virtually all online and offline casinos severely limit the number of funds in bonuses. But Bitcoin casinos don’t stick by such rules, and you’ll find amazing deals for welcome bonuses, as well as playing bonuses. You’ll often find that the opening bonus from a Bitcoin casino is over ten times the amount offered by more traditional casinos. A good example is Bodog Casino which offers $600 when you sign up. You can find a list of the best Bitcoin casinos for 2021 here.
Greater Value than Traditional Online Casinos
As with all currencies, Bitcoin follows the pattern of supply and demand. Right now, Bitcoin is enjoying massive demand and the price is the highest it’s ever been. Some economists believe that Bitcoin is a bubble waiting to burst. They say this because the currency isn’t backed by any assets. In other words, it just operates on trust. And while these statements are true, in that they are factual, most people already treat Bitcoin as an asset, not as a fiat currency. And that’s why it presently offers greater value than your regular currencies. We’ve already seen huge price drops, but the currency has always climbed back up and then exceeded its previous top price.
Cheaper Transactions
The sheer convenience of using Bitcoin at crypto-casinos is a pretty unbeatable experience. They are no hefty fees for every transaction. You should also keep in mind that most online casino operators are taxed, and they pass the cost of taxation onto the customer. Furthermore, traditional casinos take an era to process transactions, often between 24 – 48 hours. This is a drag if, like most gamblers, you want to play straight away. Because crypto-casinos are able to mitigate these negative factors, then it’s not surprising to see their popularity rising to make them some of the best sites to win the jackpot.
Having no need for third-party verification or any sort of gateway, they can keep their cost down, and then pass these savings on to the customer.
The Future of Crypto Casinos
With technology evolving at an ever-increasing rate, it’ll be interesting to see where the online casino industry is standing in 10 years’ time. The last big development was the introduction of live dealer games. This proved to be a huge hit, and not all the big online casino players, offer this service as a given. In the background, the use of crypto-currencies has also been making steady inroads. Just like live dealer games, we feel that the time of crypto dominance is near.
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