• Tuesday , 20 March 2018

Bitcoin making its way into gambling

With the advent of online gambling, it became easier for the players to play. Not only are casinos now available on their mobiles and laptops, but they can also pay and withdraw online as well. This is, definitely, a great benefit for modern players who do not want to carry or deposit money in cash. Naturally, to enhance the user experience online casinos across the world have incorporated a number of payment and withdrawal methods like credit and debit cards, electronic transfers, e-wallets like Paypal, Apple Pay, Android Pay, WebMoney, PayUMoney, Payoneer, Skrill, etc. so that anyone from any part of the world can make easy money transactions without a bother.

Advent and popularity of cryptocurrency

Advancement of technology has had its impact on the financial sector as well and a major effect was seen in the form of digital currency, where the currency existed only digital and there was no physical trace of it. Progress was gradually made and the concept of cryptocurrency was born, where all the transactions made digitally were protected by cryptography. Not only that, the currency that would be generated would also be done by the algorithms and the first such cryptocurrency came into being in the year 2009 when Bitcoin was introduced. Though it was hard to get bitcoins initially and there was a lot of debate regarding the legality and use of bitcoins, the currency gradually became popular and more people started investing in Bitcoins.

Within a few years, Bitcoin went from being a just a topic of debate to a currency being actually used by the modern generation instead of real money and to adjust to the needs of the modern generation, casinos too started including Bitcoin as a medium of deposit and withdrawal.

Use of bitcoins in gambling

With the passing years, people gradually grasped the benefits of cryptocurrency and as a result, more and more people are willing to use them today. The casino industry is no exception. BTC has gained more power in the industry in the last couple of year and is gradually surpassing real money when it comes to making a deposit or withdrawing money. Obviously, there are perfect reasons for the popularity of BTC. Being encrypted digital currency, it is not only fast but safe as well, so no chances of losing the money that one earns at the online casino games.

Not only that, BTC transactions have very low fees as compared to real money transactions, in whatever form they may be. Who would want to lose a significant portion of the money they earn via online gambling?Naturally, players prefer BTC as a medium of transaction over real money. And the most important reason why BTC has gained popularity is because of the anonymity that it offers. Most gamblers want that their activities aren’t tracked at all and BTC offers exactly what they sincerely desire. Naturally, the use of bitcoins for online casino gameshas increased significantly and BTC is assumed to take over the industry by the sweep in the coming years, taking over real money and making its own stronghold.

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