Bitcoin gambling is gaining momentum!
While traditional media were just starting to pay attention to cryptocurrency, various gambling portals were thinking hard about how best to take advantage of it. Many of those online casinos that once took the risk of building a business around Bitcoin (or simply adding a few cryptocurrencies as another payment method) are still operating successfully today.
Of course, Bitcoin's rate has very much influenced the growth of interest in virtual currencies. But even if we abstract away from BTC price charts, the willingness of gambling industry representatives to accept Bitcoin and other cryptocurrencies is very easy to explain.
Benefits of Bitcoin Casino Gaming
The unprecedented interest in cryptocurrencies and Bitcoin in particular has largely been driven by the technical features of this innovative ecosystem. Financially savvy people have paid particular attention to several key aspects of digital currencies:
1. Payment processing speed
2. The cheapness of money transfers
3. Possibility to send small parts of one BTC
4. Secure and confidential transactions
5. Relative independence from the state
It so happens that each of these points is of great importance in online gambling. So as soon as the first casinos with Bitcoin slot machines appeared on the Internet, others began to realize the undeniable benefits of cryptocurrency for casino gaming.
The technical features of transaction processing in the Bitcoin network make money transfers very fast. The transfer of funds from one account to another is instantaneous. All that remains is to wait for the final confirmation of the transaction by the miners. Except for periods of extreme network load, this procedure takes about 10 minutes.
Speaking of miners. It is also much cheaper to transfer funds via Bitcoin. The user specifies the amount of the "miner's" commission for each transfer. If you compare these pennies with the possible costs of banks, payment systems and all sorts of intermediaries in the transfer of traditional fiat currencies, cryptocurrency seems a particularly favorable solution.
For the average online casino user, it can be a double benefit. Firstly, he will be able to save on deposits and withdrawals. Secondly, gambling portals themselves will lose less profit on commissions, which allows offering players more "tasty" bonuses.
Perhaps the most obvious advantage of Bitcoin games is the privacy of the player. In Bitcoin, there is no personal data about the owner of the cryptocurrency. They are not sent along with wallet addresses or public keys. Many Bitcoin casinos do not even require specific personal information from users - or if they do, it is only to comply with legal procedures.