Crypto Currencies and Online Casinos
Politicians might say that cryptocurrencies are a fad soon to be forgotten, but reality shows a different type of development
The online casinos understood several years ago that they had to somehow integrate with players’ need to pay with virtual cash. Some sites were created purely for this demand while others tried to adjust and offer Bitcoin as one of the payment options.
But there is still a long way to go before you can count on your preferred cryptocurrency to be accepted in your favorite casino.
If you want to play in a Bitcoin casino there will be a few different options and you might want to take some time to research these since they are not all of the same quality.
Today you can certainly expect to get the best games and high level of safety when playing with cryptocurrency so pick the best Bitcoin casinos and keep an eye out for new launches.
The Cryptographic transaction system
The traditional way of making a money transaction is private. You use your own bank account, and through methods such as credit cards and bank wires, you send the money to the desired destination.
This demands a high level of safety so that the information of your account and your private details don’t end up in criminal hands.
The network used for cryptocurrency looks completely different. Here every transaction made will be tracked. All records are completely transparent, but at the same time, they are protected by a digital signature system.
This makes the cryptocurrency very safe and secure. You can’t tamper with it and it is not possible to forge. It’s a dream for casino operators and players alike!
The cryptographic transaction system that was implemented in 2009 is called blockchain. It is this system that made it possible to launch Bitcoin and other cryptocurrencies used by different industries.
The system makes it possible to send money without attaching any personal information to the actual transaction. You don’t have to use a bank or a middleman such as a credit card provider to make the transaction.
The advantages of cryptocurrency for casino players
We have already mentioned that this system of transactions makes it possible to send money in a very safe and private manner. That is a key feature for casino games and something that makes currencies like Bitcoin highly desirable within the gaming industry online.
But there is much more to cryptocurrencies.
When there is no middleman, the transaction costs less money and takes less time. No transaction fees make the most of the money you want to use for the games and that is a big plus. You don’t have to think about things like currency conversion.
Bitcoin and other cryptocurrencies are the same all over the world. This makes the casino experience so much easier for international players.
You can send the money whenever you like. There’s no need to wait for the bank to wake up or for agencies to handle the transaction. Once you send the crypto money it lands immediately in your casino account.
It is fast, and fast is another key feature of pleasant casino gaming online.
The legality of cryptocurrencies for casino gaming
This is an area that is being explored in places like Malta where there is a great interest in developing the use of cryptocurrencies for bets online. This might make it so much easier to play when on the go.
People who travel between different countries will not have to worry about things like licenses when they can trust that the Bitcoin bets on casino games and sports are always legal.
Right now the lack of legislation for cryptocurrencies makes them extremely easy to use. No need to worry about things like having to pay tax on winnings when there is no tax to pay on the currency.
Therefore the cryptocurrencies are amazingly well suited for online casinos that are looking to attract players from many different countries.
Fetch the best bonuses
There are already cryptocurrency bonuses to make use of. The great thing about these is that they can be quite hefty. You could get 200% matching bonuses and more, simply because you choose to play in a Bitcoin casino!
This makes it easy to get started and try the casino without any risks. If you win you get to keep your money and if you don’t, you can always decide to play on a different site.
As the cryptocurrencies become more prevalent the bonuses for these will also develop. This brings us an exciting future with new innovations and promotions for currencies such as Bitcoin.