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Bitcoin, Bticoin Cash, Litecoin, altcoin, dogecoin, cryptocurrencies…if you’re new to the world of bitcoin and what it’s like to gamble with it online, we’re here to help you get started.
In 2010, the first real world transaction of bitcoins took place when a programmer in Florida paid 10 000 bitcoins to have two pizzas delivered to his home. Since then the number of merchants that accept bitcoin as a payment method has grown and today you can use bitcoin for real world transactions in virtually every country.
One sector that adopted bitcoin use early on was the gambling industry, and many casinos started enabling bitcoin transactions long before it had become widely accepted in mainstream culture. They saw value in the fact that it is virtually anonymous, decentralised and not bound by many of the strict regulations that traditional currencies are. With the value of bitcoin increasing and more casinos offering cryptocurrency incentives and bonuses, the industry is growing at a rapid pace.
Benefits of Bitcoin Gambling
Anonymity: This appeals to the large percentage of online gamblers who prefer to keep their sensitive personal information and banking details private, as bitcoin gambling doesn’t require these details to be shared.
Flexibility: Without a central controlling authority, bitcoin can easily be transferred between peers, and there is no limit to the amount as there would be with a traditional credit card or bank.
Low fees: Transactions, deposits and withdrawals, which means fees are minimal when playing at an online casino.
Accessibility: Thanks to bitcoin gambling, players can now enjoy betting on websites that would otherwise be inaccessible to them when using their regular currency.
Safety: There is no chance of counterfeiting or theft in the cryptocurrency world as there is with credit cards and cash, and casinos use strict safety protocols to ensure player security when gambling online with bitcoin
Types of Gamblers Suited to Bitcoin Gambling:
Beginner and experienced gamblers: Whether you're a new gambler still discovering your favourite games or a seasoned online gambler with loads of experience, making the move from traditional currencies to bitcoin gambling is simple!
Tech savvy bettors: If you're a gambler with an understanding of cryptocurrency looking for new challenges and games, bitcoin casinos offer a whole world of variety, exciting new bonuses and the ability to increase your bitcoin balance.
Security conscious gamblers: If security and the protection of your sensitive data is a primary concern when gambling online, you'll be impressed by the level of anonymity that bitcoin gambling offers, and each casino offers an additional layer of protection too.
Anyone interested in fair play: Worried that computer algorithms could never provide the same level of fairness as a human dealer? Credible bitcoin casinos completely eliminate this worry by using provably fair technology, which ensures games are randomised and fair by involving both the casino and the player in the equation.
Impatient gamblers: With low fees and instant transactions, bitcoins are the ideal currency to work with if you’ r re looking for fast withdrawals and no-fuss transactions.
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