The low Bitcoin value cannot be denied, especially the fact that it is struggling to regain momentum in the market and return to at least its price before the start of 2015.
Many questions were raised, particularly in the Bitcoin casino market. Although there seems to be a distant connection between the slump the digital currency presently experiences and the exciting and entertaining online betting environment, asking whether or not it is still wise to wager bitcoins cannot be helped.
In fact, some believed this year would mark the demise of Bitcoin. Even Warren Buffet expressed his opinion about it, perceiving the digital currency to have no intrinsic value.
It’s a different Bitcoin story in the online gambling scene
However, despite the pessimistic views regarding the cryptocurrency, the Bitcoin casino market is not even near bidding the iGaming industry goodbye. After all, there are reasons Bitcoin gambling enthusiasts should hold on to their bitcoins to wager.
The primary aspect players should learn to understand when betting bitcoins is to view them as a cryptocurrency in itself and not compare it with fiat currencies.
Some bettors may argue that the Bitcoin wins may have been big but eventually exchange for a lower value in US dollars, for instance. This, however, will not be a problem for those who ventured into Bitcoin gambling for the sake of the advantages and entertainment that come with playing with cryptocoins.
Moreover, Bitcoin exudes innovation in the online gambling world. With its unique features—namely, provable fairness, anonymous betting, and instant withdrawals—bettors who are tired of the drawbacks usually associated with real-money online gambling will find this niche more than appealing.
Furthermore, Bitcoin is known for its volatile nature simply because of the fact that it is still young. Having only been introduced in 2009, Bitcoin can still improve and stabilize in the years to come. Case in point: the Internet.
While the plummeting and erratic price of Bitcoin raises concern, Bitcoin games enthusiasts must not be bothered. Instead, they should take this opportunity to purchase the more affordable bitcoins to increase their bankroll and make the most of what this growing industry offers. After all, more innovations and developments like the wide acceptance of Bitcoin as a payment method. In fact, the Coinimal-NETELLER partnership is something to look forward to, especially on the Europe market.