Over the past few years, the cryptocurrency known as Bitcoin has been making waves in almost every area of business. Because it offers a safe, secure and mostly anonymous way to bank and conduct transactions in almost any nation around the world and payments are made quickly, Bitcoin is winning over new converts every day.
Bitcoin is winning over new converts every day.
For those who like the appeal of playing online bingo games or other types of virtual casino fun, Bitcoin casinos offer a great way for players to start dipping their toes into the world of cryptocurrency and you may make a bit more profit in the exchange rates by using Bitcoin instead of cash.
Bitcoin was created following the currency market crash of 2007 and 2008 as a decentralized currency. In spite of a few hurdles it has encountered from some currency regulating bodies such as the Federal Reserve over the past few years, it is becoming increasingly accepted by businesses and governments as a viable means of exchange. Because Bitcoin allows users to pay each other without going through a bank, it has become a very popular mode of payment for online casinos, too. As of this writing, there are well over 100 online casinos that feature payments and deposits using Bitcoin.
Because Bitcoin is being accepted around the world, it can overcome some of the problems that come when exchanging types of currency between countries. For online casinos that offer gambling in several different countries, Bitcoin affords them the means to ensure that their visitors can gamble easily and conveniently. All transactions are made privately and because there are a number of safeguards in place to protect Bitcoin funds, there is a higher amount of security and safety to both the user and the casino. Industry experts feel that from 2018 onward more online casinos will be accepting Bitcoin than those that which don’t.
Bitcoin transaction fees are also much lower than what many banks charge. Many Bitcoin enthusiasts appreciate the fact that their funds cannot be frozen, they do not need to be converted into other currencies and are able to be used in any country in the world, Bitcoins are kept in a digital wallet on your computer or smartphone. That means that if you love to play money bingo, for example, you may well end up being ahead when you deposit funds and when you win because any fees will be all but eliminated.
Casinos are especially enthusiastic about offering Bitcoin because the costs of transactions are significantly lowered. Some, however, may hesitate to offer it based on Bitcoin’s short term volatility and how this may affect how they maintain their casino accounts. In the long run, however, Bitcoin has been increasing in value giving casino owners long-term stability.
Casinos are especially enthusiastic about offering Bitcoin because the costs of transactions are significantly lowered.
Because the Internet reaches every country on the globe, laws within the United States, the UK, and elsewhere in the world are changing to embrace the promise of Bitcoin and still be able to ensure that proper taxes are collected, especially since it is projected that online gambling operations are expected to increase by at least 10% annually. Casinos that offer the option to play and be paid with Bitcoin may see even higher rates of return and growth. Even if you are new to the world of Bitcoin, that’s the kind of success you can bet on!