How Bitcoin Online Casinos repositioned betting online as gamblers are offered anonymity and inclusive platforms widely accepted with reduced fees.
Since Bitcoin broke into the mainstream in 2009, it has gradually made its way to replace the traditional means of currency- paper money. And in the past five years, it has continued its rise as the most popular digital currency. Currently, it is not just a cryptocurrency but an accepted means of transaction. Statistics show that with each passing day, a significant amount of online transactions are done daily in Bitcoin.
According to calculations by Chainalysis, which tracks cryptocurrency data, consumers used bitcoin on merchant services for a monthly average of $190.2 million in 2017, compared with just $9.8 million a month in 2013.
With data showing increased use and acceptance of cryptocurrencies – likewise, a number of countries that previously banned it have lifted their bans – facilitating innovative technology in transactions. More organizations, financial institutions, online retailers, even offline shops are now accepted Bitcoin as a means of payment.
This has not left out online casinos. As you may already know, an online casino is an online interface that allows gamblers to play normal games as they would in a casino on their mobile devices without actually visiting the casino. They can play from the comfort of their room.
Before now, these casinos would require you to make a deposit in their accepted currency through a bank transfer. The next step was to integrate advanced payment methods and verifications though bankID. Hajper.com was among the first ones to do this. The trend quickly spread to other countries where BankID is offered. All you need to do is to visit the site, open an account and start betting live and playing in the online casino. You can do it with different sites such which are aiming to give you the best casino experience.
In the case of a Bitcoin online casino, instead of depositing fiat currencies via your bank, what you deposit before you can play is Bitcoin. Granted there are some casinos (not Bitcoin casinos) that allow you to play with Bitcoin as well as play with normal currencies. A bitcoin casino, on the other hand, does not allow any other form for transaction except Bitcoin. All transactions, stakes, betting, deposit, and withdrawals are all done exclusively with Bitcoin. So there is no difference from other online casinos as to the mode of operation; only with the means of transaction.
As expected, the numbers of Bitcoin casinos are on the rise. Ever wondered why?
* The transaction remains untraceable. This same reason is behind the rise in Bitcoin’s worldwide acceptance. Since the internet started having a wider appeal, the privacy of people has been jeopardized. But as Bitcoin offers complete anonymity, gamblers have found in it a better way. Many people don’t want their bank to always deposit money into a physical casino. But as long as they can purchase the digital currency, have it stored on their wallet they can comfortably gamble exclusively with Bitcoin as their activity will not affect their bank balance in any way.
* Reduced Charges- Bitcoin is a lot easier to transact with around than normal currencies. It is done online over the internet without extra charges. These Bitcoin casinos understand this hence their significantly reduced fees which are aimed at encouraging gamblers to get involved. In fact, some Bitcoin casinos will not charge you for playing at all.
So, as you have seen Bitcoin casino is really the future of online casinos. As there is more of it now, you can expect the number to rise. As these numbers rise, you can also expect more gamblers to choose to gamble with them as it offers everything any gambler can ever think of.