Bitcoin is a digital currency or, more precisely, the world’s most popular cryptocurrency. It exists only online and its current worth per coin is a bit under $600. Many consider the Bitcoin to be a revolutionary concept that forever changed the idea of money and assets. Even though sceptics used to claim that the Bitcoin won’t be able to make it and become a mainstream currency, today it’s certainly widely accepted and welcomed by thousands, if not millions, of users worldwide.
However, what’s possibly the most impressive thing about the Bitcoin is how from a relatively anonymous project it became a highly favoured online payment method in online gambling. If, for example, you check out the sites featured at http://www.casinoshorts.com/ or these Top NZ Casinos, you will notice that many of the listed operators accept Bitcoin deposits and withdrawals. With that in mind, you may wonder what the reasons for this quick rise of the digital currency are; well, keep reading and find out.
Possibly the most important thing about the Bitcoin when it comes to online gambling, but also in general, is the anonymity it offers to users. The concept was created so that transactions can’t be tracked and the identity of the user sending or receiving coins remains hidden. This is important to those that don’t want to reveal their personal information to casinos as well as to those that don’t want casino transactions to be recorded in their banking accounts. As you may know, depositing at casino sites may hurt your credit score and thus Bitcoin transactions are the perfect way to avoid this from happening.
Another benefit by Bitcoin money transactions at online gaming sites is the fact that they are free of charge. Aside from the charges imposed by the provider that handles your Bitcoin wallet, operators usually offer completely free deposits and cashouts in the cryptocurrency. Knowing that credit card and e-wallet transactions and especially bank transfer can cost you 1-5% of the amount you wish to transfer or a fixed flat fee; you can easily understand why players would decide to use the Bitcoin instead.
In addition to anonymity and low costs, there’s yet another pro of using Bitcoin as a preferred payment and withdrawal method. Namely, unlike other options that usually take hours or even days to complete the transaction, Bitcoin cash uploads or withdrawal are usually instant. Ever since its release many years ago, the Bitcoin has boasted with an extremely low transaction processing time and that still remains one of its main strengths. Being able to start playing right away, without waiting forever for your money to be added into your account, as well as receiving your winnings within minutes is priceless.
Obviously, other aspects such as limits and security are covered too. The Bitcoin provides perfectly safe and secure transactions, plus it usually comes with better deposit and cashout limits than the rest of the methods. Finally, it has to be pointed out that the Bitcoin is extremely easy to use; therefore, choosing it as a banking method means you will be able to complete everything within seconds and focus on the gameplay.
In conclusion, the Bitcoin is an innovative concept whose main goal has always been to provide a decentralised currency, which would make payments, withdrawals and money transfers in general simpler than ever. These benefits were recognised by online gamblers and as a result the Bitcoin has become a favourite banking method at online casinos in no time.