Banking on Bitcoin – Cryptocurrency and Online Casinos
Published on by Adam
By now you have probably heard the word Bitcoin and will likely have some understanding of what that is. But why is it such a big deal in the world of online gambling? What is it anyway? Let’s take a look.
The first thing you need to know about Bitcoin is that it is a purely virtual currency. You cannot visit an ATM and withdraw Bitcoin and you cannot slip a few Bitcoin into a birthday card and send it through the post.
Bitcoin exists only online and is not regulated by any banks. It’s main selling point, as it were, is that it allows for fast, safe transfer of money, with the added protection of anonymity. Given the state of the world’s economy at present and the pervasive distrust of banking institutions, it’s no wonder this currency is gaining popularity, particularly with those who conduct most of their financial transactions online.
With all these features, Bitcoin is slowly but surely becoming a currency of choice for many casino players around the world.
Bitcoin and online casinos
Online casinos have been around since the late 1990s and have grown and evolved alongside the technology that supports them. We’ve gone from relatively primitive systems, with a few games choices, to an overwhelming number of places to play on any internet-capable device you can think of. The future, they say, is in Virtual Reality. So, we can expect online casinos to reflect technological advances as they occur.
The same has happened with Bitcoin. It has gone from a somewhat niche money transfer tool to an almost-mainstream option, with more converts every day. It stands to reason that many online casinos have begun to accept Bitcoin as a depositing currency.
Advantages of Bitcoin
Of course, to players, the most important thing is convenience and good value. Bitcoin fits these two requirements to a T. Transfers of Bitcoin are almost instantaneous, whether depositing or withdrawing, and players pay fewer processing fees.
Play with Bitcoin
If you’d like to explore some Bitcoin casinos, check out this selection of trusted sites that we have personally reviewed. You’re sure to find a casino you can call home among them.
Try PlayAmo, for example. A fresh young look and a solid library of games, this casino is a proud Bitcoin-first site that offers players a quality casino experience.
At BitStarz, the Bitcoin bit is in the name! With the motto ‘Dream Big, Win Bigger’, players know to expect a memorable gaming experience, with plenty of titles in several categories to explore and a tantalizing host of promotions to take advantage of.
7Bit Casino are locked and loaded, ready to bring you a Bitcoin-ready casino experience you’ll be itching to get back to. With top shelf security, helpful support agents and a host of other deposit methods available, this casino will fit the bill for both Bitcoin enthusiasts and traditional currency players.