Why Bitcoin Is the Future of Online Casino Gambling

bitcoins

Bitcoin is the future of online casino gambling. At first, it seemed that many proponents of Bitcoin were hyping it up too much.

Fast forward to 2020. American casinos online now accept Bitcoin and there are now more Bitcoin casinos than ever before.

Let’s look at the reasons why Bitcoin is so popular. And, why you should consider using it as a deposit method at casinos online.

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What Is Bitcoin

Bitcoin’s meteoric journey started in 2009. To this day nobody knows who invented Bitcoin.

Bitcoin is the most popular currency and it seems that things won’t change anytime soon. There are a number of competitors like Litecoin and Ethereum. But, BTC is still right at the top of the pile.

If you want to start using Bitcoin, you need to acquire that cryptocurrency by buying it from someone else. This can be another person, of course, but Bitcoin exchanges are the most popular way of buying Bitcoin.

There are many trustworthy Bitcoin exchanges on the market nowadays and you can use any of those. In fact, most Bitcoin exchanges allow you to purchase and trade other cryptocurrencies as well, which is a nice bonus. Many US online casinos accept cryptocurrencies like Litecoin and Ethereum as well, after all.

BTC Provides Some Anonymity

Anonymity is one of the reasons for Bitcoin’s popularity overall. With standard payment options like credit cards or bank wires, you always transfer your personal data when making a payment. That’s acceptable most of the time. Online casino gaming is one of those things where anonymity is something you’ll appreciate.

When working with Bitcoin, there won’t be any bank statements showing your details alongside deposit and withdrawals.

There’s no paper trail either, which is great. If you’re afraid that your private might show up somewhere. We suggest you switch to Bitcoin as soon as possible.

As a banking method Bitcoin does not offer 100% anonymity; it’s pseudonymous. In other words, BTC offers casino gamblers some form of privacy. Therefore, you don’t have to provide any personal details to anyone during Bitcoin payments.

Fast Deposits

Depositing via Bitcoin can be almost as fast as depositing via the fastest deposit methods, i.e. Visas and MasterCards. Once you authorize your Bitcoin deposit. The BTC casino will transfer the money to your Bitcoin wallet within a few minutes, maybe an hour tops. This is on par with the golden standard for online payment methods.

From time to time, Bitcoin transactions can become congested if the blockchain is very busy. That can delay your deposit and make you wait several hours for the money. Luckily it doesn’t happen often. Even credit card companies have outages.

They aren’t immune to such delays happening, which is something that many online casino players have already found out.

We know that it can be a hassle to wait for a deposit. This is not a problem with Bitcoin because deposits are virtual instant. And, of course, it’s way better than many regular deposit methods like bank wires. Those can take up to several business days, which makes them way slower than Bitcoin deposits.

Fast Withdrawals

Fast Bitcoin withdrawals are the number one reason why Bitcoin is so popular with USA online casino fans.

With regular banking methods like bank wires and checks. Players often have to wait several business days to get their money back. In many circumstances, the wait can be as long as seven business days, which can be unbearable. With instantaneous deposits, it’s fair to ask why players can’t get their money back quickly, isn’t it?

There isn’t much that US online casinos can do to speed up regular payouts. Those that work with Bitcoin, however, can be way more flexible and offer fast Bitcoin payouts. There aren’t any inherent problems with Bitcoin.

The best Bitcoin casinos settle withdrawals within a few minutes up to a few hours, which is excellent. It’s a huge step up from the several days-long clearance periods. It’s also one that all online casino players will enjoy.

The Downside Using Bitcoin

Since all the different banking methods that exist come with certain pros and cons. It’s only logical that there are some minuses for Bitcoin as well. We’ve walked you through all the advantages and those are great. At the same time, there are two concerns that we have to address.

The first of those is the fact that Bitcoin comes with a learning curve. We all know that making a deposit via a credit card or a debit card is easy. You just fill in the numbers, choose the amount, and confirm. With Bitcoin, you need to have a Bitcoin wallet and know how to work with it.

The good news is that it will only take you a minute at most once you know how things work. The bad news is that you’ll need a few hours to set everything up; if you haven’t worked with Bitcoin before. The best US online casinos have detailed tutorials that will take you through, however. You can get to grips with Bitcoin while you check other online Bitcoin tutorials.

The other minus is that the price of Bitcoin will remain to be volatile. We all know that Bitcoin can grow to new heights. The problem is that BTC can also drop and make your bankroll smaller without you doing anything. This can be both a plus and a minus, depending on whether Bitcoin grows or falls.

There’s no point in us trying to explain things in detail here. The bottom line is that you have to be aware of this fact while dealing with Bitcoin.

Final Word

Summing up, it’s easy to see that Bitcoin has more advantages than disadvantages for online casino players. There are big steps up in terms of anonymity and fast withdrawals. Which is always been a big issue for many online casino players.

Fast Bitcoin deposits are available as well, so there’s not much that would put you off. There’s a learning curve to Bitcoin, sure, but there are many available tutorials out there. Many online casinos will walk you through the process with their own guides.

The only reason for rejecting Bitcoin is the fact that its price can be volatile. But, Bitcoin continues to grow; therefore, we can’t write off the world’s foremost cryptocurrency just yet.