Last updated on August 17th, 2018 at 12:35 pm
Understanding Bitcoin from a Gambler’s Point of View
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Bitcoin has only been around since 2009 when it was anonymously introduced as a new currency. A couple of years later, online casinos began accepting bitcoin for deposits and using it for withdrawals. It’s an emerging trend making gamblers and casinos happier due to the ease of using it and the lack of fees attached to it. Its use also delivers anonymity for those gamblers interested in keeping their financial details to themselves, while providing access to funds instantaneously. Here is a look at understanding bitcoin as well as bitcoin casinos from a gambler’s point of view.
What is Bitcoin?
Bitcoin is a form of digital cryptocurrency highly popularized since 2011 when it entered the established market as a method of payment. As a form of currency, bitcoin offers several advantages over traditional currencies. Its decentralized nature keeps third parties such as banks from having any influence over its use. As a result, only the people holding bitcoin have anything to do with the commodity. Unlike the Euro, American dollar, and British pound, bitcoin comes completely without fees of any kind. As this cryptocurrency grows in strength, it continues to be accepted by a number of bitcoin casinos as a reliable method for deposits and transactions.
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What Are Bitcoin Casinos?
Bitcoin casinos can be split into two categories – ones that accept only bitcoin for deposits and withdrawals and those that add it to their existing list of payment options. If you choose to play exclusively at bitcoin casinos, you simply transfer your funds into and out of the casino using this cryptocurrency. If you choose a bitcoin casino that also accepts other banking methods, you have a choice, even if you don’t intend to use anything other than your digital currency to deposit or withdraw funds.
Embracing digital cryptocurrency is a terrific way to optimize your wagering power. You avoid the unnecessary fees inflicted by third parties and get to keep all of your funds. Now, you can wager bigger and longer since you don’t have to share your money with the banks. Bitcoin gambling is easy, fun, and exciting. If you haven’t done it yet, keep reading to learn more about why you should.
Reasons to Choose Bitcoin Casinos for Your Gambling Needs
Choosing a bitcoin casino over one that does not accept this form of cryptocurrency delivers numerous advantages to gamblers. The most important of these positive perks is that you remain in full control of your funds whether you are depositing or withdrawing them. No fees come out of your bankroll whatsoever unlike the charges tacked on by traditional methods of payment. Plus, your money is transferred nearly instantly. It’s almost as though your bankroll was always there (deposits) or like it never left your possession (withdrawals).
Another perk includes the fact that bitcoin casinos offer special bonuses intended for players who deposit funds using bitcoin. This is a win-win scenario because both you and the casino avoid the fees attached to other types of payments.
When you get the itch to try your luck at a few slots or table games, you no longer need to hop on a plane and book a room. You simply register at an online bitcoin casino, drop in some cryptocurrency, and have fun. With all of the money you are saving, you can really bet big.
Finding a Legitimate Bitcoin Casino
You might be wondering how legal it is to gamble at bitcoin casinos. You can relax, because bitcoin casinos are every bit as legal as other styles of online casinos. Of course, you must check to see whether or not individuals from your country/state/territory are allowed to join a specific online casino whether or not you intend to play using bitcoin.
Safety should always be a major concern when visiting an online gambling establishment, particularly if you’ve chosen one of the bitcoin casinos. After all, you are leaving traditional methods of depositing and withdrawing funds behind, which might give you pause as you wonder about the security and safety of gambling at online bitcoin casinos. Consider the benefit of the anonymity delivered by using bitcoin. You don’t need to go through a third party provider, complete lengthy documentation, or offer up any personal details. What could be safer?
If you don’t have any bitcoin yet, you can always purchase some or trade with friends for them. What’s even more important is that you can join bitcoin casinos with an empty wallet. Just select one that has a good review to its name and follow its instructions for how to buy bitcoin to use at the online casino.
The easiest way to find a legitimate bitcoin casino is to find an online review offering specific details about the casino’s licensing and regulations. This strategy saves you a lot of time since you don’t need to hop from one casino to another in your search for one that is properly licensed and regulated.
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