The Reason for the Growing Demand of Bitcoins in the Online Gambling World
Gambling industry has always flourished because they have endless ways of getting money out of their players. All those who are obsessed with gambling look for endless reasons to approach a casino and enjoy betting. Unfortunately, not all states permit the opening of casinos. This restricts many people to enjoy their favorite game.
The opening of online casinos has made life easier for many. These online casinos work on secured software that keeps all information safe. However, there are some fake gaming sites as well, but you should always play with authorized and licensed houses. The internet world and gambling industry have brought light to cryptocurrency.
Cryptocurrency or digital currency is famous in the gambling industry. There are various kinds of cryptocurrency which is used for playing, but Bitcoins are the most famous digital currency that is ruling the world. With Bitcoins, you can not only play with houses, but these cryptocurrencies help with investments, trading, shopping, and many more. Bitcoins work as virtual currency that can be used anywhere in the online world to do business.
Bitonecore is an online site that provides all information about Bitcoins casinos. The founder and owner of the website, Richard, is a trader by profession who has years of experience in the gambling industry. He shares all his knowledge about how and where to mine Bitcoins, and how to buy or sell Bitcoins. You will also get the casino list that uses Bitcoins for playing. Their website is updated with all kinds of information for long-term players and beginners.
The future is all about cryptocurrency. This is why even investors and businessmen are giving Bitcoins a lot of attention. Using Bitcoins in houses is a lot easier than using debit cards or credit card information.
Benefits of Bitcoins Casino
When you go to a traditional casino they ask you for a list of personal information that you may feel reluctant to provide. They also take your card information which is kept with the house in case you aren’t able to pay it back. However, that is not the case with Bitcoin casinos. Online casinos don’t require any personal details or card information. You just need to open a wallet and store some amount of Bitcoins in it.
The Bitcoins casino is not regulated by any bank or institution, therefore therefor all your transactions are tax and duty-free. The main purpose of launching Bitcoins was to make online transactions faster and easier. Hacking and cybercrime are quite common, so privacy was also another concern for which Bitcoins were created.
Low Fees and No Taxes
As mentioned above, it is not regulated by anybody or institution, therefore it omits any transaction fees which is attached to any bank or financial intuition. It is a decentralized unit that keeps all its transactions safe, yet free of certain taxes which are related to different payment methods. If there is any fee, they are very low, which is affordable. Unlike traditional casinos, when you withdraw money, they deduct taxes and duties leaving behind a few pence of the player. Bitcoins casino having no taxes or fees allows withdrawing a good amount of money.
Easy and Quick Transaction
The Bitcoins casinos are decentralized, which makes all transactions easy and quick. The duration between any transaction connected to a bank or other financial institution is often within few hours or sometimes 3-5 business days. Bitcoins transactions can be dealt with faster. With no middle person or intermediaries involved, the transaction is smooth and instantly you will see cryptocurrencies in your wallet.
Offers and promotions
Traditional casinos have few offers to provide their players. The best offer that they can give is double the amount on winning. After which all money is used on different games with just one kind of rule. On the other hand, Bitcoins casinos are online gambling houses. Online gambling sites often come with different offers and promotions to attract customers.
You can get a 100% match bonus, cashback bonus, or free spin for the first winner. Sometimes, first-time players also get various offers online. Few gaming sites will also provide offers on mails. You don’t have to wait to enter the gambling webpage to know about offers, these offers are posted regularly by houses on mails provided.
Safe and Secured
Bitcoins casinos are the safest to play with because they don’t ask for any personal information. You also don’t need to provide debit card or credit card information. Just opening a wallet and depositing certain Bitcoins is good enough to start playing. This is done because the Bitcoins transactions are being handled by a bunch of volunteers, and no regulated body is concerned with the same, therefore providing any further details can be risky.
The value of Bitcoins rises and drops harshly. In the year 2010, the value of Bitcoins rose to $11,000 and within 24 hours it dropped to $8,000. Initially, predicting the value of Bitcoins was difficult because it was new in the industry and people were still not relying on it. Ever since its usage began in different sectors and businessmen started investing in it, the value has risen to peak, covering the total market.
As a player, you should keep an eye on the changing trend of the value of Bitcoins. One should know how the values are depicted to withdraw Bitcoins at the right moment. You can make thousands of dollars if you have a decent amount of Bitcoins which can be withdrawn when the Bitcoins value is high.
If Bitcoins have various advantages, then it has few drawbacks as well. You can’t just withdraw anytime. To withdraw Bitcoins from the wallet, you need to meet a minimum rollover. This amount is decided to depend upon the current Bitcoin value. It can be very low or as 20 times more. Since the digital currencies are handled by a bunch of volunteers, therefore it is difficult to predict anything. Most casinos play a fair game, but those which are not authorized or licensed can be a scam.
Bitcoins are expanding in the online world and everyone wants to get access to it. It is easy, cheap, quick, and reliable which makes the online gambling world secured and fun.