Casinos are the natural place to use Bitcoin, and the first wave of casinos to accept the currency have reported that they’re attracting new players, such as older people who might not feel comfortable giving their credit card information online. We describe in this article 8 reasons casino fans are jumping on the bitcoin bandwagon.
If you’re still on the fence about this up-and-coming digital currency, we’ve got some more reasons for you to give Bitcoin a try:
1. It’s anonymous
Bitcoin’s transactions, available publicly on a worldwide ledger, are anonymous. While the record of every Bitcoin transaction is public, there isn’t anyone who can see into your personal finances like with traditional bank accounts and credit cards. Now is a great time to play Bitcoin video poker.
2. Its future potential is skyrocketing
The blockchain technology that powers Bitcoin’s transactions enables instantaneous payments without the need to go through a third party like PayPal or Visa. The possibilities are endless and it’s only going to grow.
3. Lower or no transaction fees
One of the reasons that Bitcoin has gotten so popular with online gamblers is that it’s free to deposit into an account, and there are often no transaction fees on withdrawals. Don’t forget that a casino’s strength is in its number of games and its customer service, not in how much it charges to play.
4. Switch between Bitcoin and dollars instantly
Everyone loves a good, juicy steak cooked to perfection on the grill! You can switch back and forth instantly between dollars, euros, and yen – whatever your currency is – while you’re making bets at the tables or playing slots. This can come in handy if you want to use your winnings on another bet right away or if you want to switch currencies for personal reasons.
5. It is decentralized
There are no banks or third parties involved in the transactions. All you need to start buying and selling goods and services with your Bitcoin is an email address.
6. It’s easier for international players
If you’re coming from the Philippines or Russia, for example, it can be difficult to open a bank account in other countries. With Bitcoin, you can have a wallet in just minutes from anywhere in the world!
7. It’s not going away any time soon
This online currency is established and has proven its longevity by consistently being on top of the tech trends list for nearly a decade now.
8. Security is top-notch
There are several layers of security that you can use to keep your Bitcoins safe. When it comes to the casino and gaming industry, you want to be able to trust the service provider who holds your money. With Bitcoin, there’s a lot more promise for them than just banking and credit card transactions.
As has been argued above, Bitcoin isn’t just for gamblers anymore. That said, casinos are the natural place to use Bitcoin and it’s unsurprising that the first wave of casinos to accept the currency have reported that they’re attracting new players.