Bitcoin casinos are already considered to be one of the highest-grossing markets on the Internet. With its consistent spike in popularity, more mainstream users are eventually joining the Bitcoin casino community to experience the hype first-hand.
The majority of fresh Bitcoin users, however, have the idea that Bitcoin is just a real-money alternative for online gambling.
To diminish this common misconception, here are six advantages that users are bound to experience when they use Bitcoin for gambling:
- Bitcoin is making it into the mainstream scene
Cryptocurrency gambling neophytes are now offered with more Bitcoin gambling platforms to choose from. Compared to Bitcoin’s thriving years, mainstream gamblers, who are mostly real-money users, are now open to the idea of integrating Bitcoin’s technology into fiat online casinos.
In fact, Bitcoin is already an available payment option side by side the conventional fiat payment schemes on few leading online gambling platforms, such as Princess Star and Americas Cardroom.
- Anonymity is assured
Anonymity is one of the most celebrated Bitcoin casino advantages among online bettors. Given that real-money casinos are blatantly associated with cyber threats that involve bank account hacks and other personal information, users are now assured of the safety of their identity when using Bitcoin.
Other than this assurance, Bitcoin anonymity has also eliminated tedious processes like account registrations. After all, Bitcoin gamblers only need their Bitcoin wallets to start gambling.
- Bitcoin casinos see no boundaries
Unlike fiat online casinos that only accept specific currencies, Bitcoin users are able to place their bets with ease since Bitcoin is an equivalent to a universal payment method. This is because of the fact that Bitcoin is already considered an international currency, which is accepted in any part of the globe even before entering the iGaming sector.
- Bitcoin bettors are presented with their transaction log
Another advantageous feature that Bitcoin possesses is its transparency. Considering that fraud and scams are inevitable in the online gambling landscape, Bitcoin negates this flaw by openly presenting its users with a decentralized transaction network called the Bitcoin blockchain.
This network records all the Bitcoin transactions that are taking place in real-time. The Bitcoin blockchain is available to all of Bitcoin’s users.
Therefore, Bitcoin gamblers can monitor the status of their bets once they initiate a deposit or withdrawal. This gives them the assurance that their bets on Bitcoin slots, roulette, blackjack, and other games are in good hands.
- Bitcoin hands bettors full authority over their currency
Other than providing anonymity and security, Bitcoin is praised by users because of its decentralized structure. Unlike real-money currencies, Bitcoin does not have to comply with the protocols of third-party entities such as the government and banks just to complete a transaction.
This is a great advantage for Bitcoin casino players since the absence of such external factors amplify the speed and preciseness of their Bitcoin transfers. For Bitcoin casino deposits, all they have to do is send their bitcoins through the casino’s Bitcoin wallet.
On the other hand, users must only provide their own wallet to complete a cashout.
The best thing about using Bitcoin is that Bitcoin payments and cashouts happen in just a matter of seconds, depending on the amount being transferred even without these third-party conduits.
- Bitcoin casino game results are free from external manipulations
Bitcoin-powered casinos are installed with the provably fair software, which secures the authenticity and legitimacy of every player’s game results. This feature is absent in most online casinos even today. Thus, having this software on a gambling platform adds to the overall credibility of the operator.
The provably fair feature is similar to the blockchain network in a sense that it is viewable by Bitcoin casino players. By entering the unique hash that is generated before the start of each gambling round, gamblers will be able to get the full details of their game results. This Bitcoin-exclusive function gives bettors the guarantee that their game is free from external and unjust compromise.