Bitcoin & Ethereum. There are two of the most famous (out of 800+) digital currencies in existence at the time of writing this that are bringing in (with unprecedented speed) a new way of transferring value online.
We have talked many times about crypto currencies here on AlphaCasinos, if you’ve read any of our previous posts, you’d know we are a huge fan of this crypto-revolution.
But why? What is so special about them?
Today we want to tell you about the 5 reasons bitcoin is the best currency to use with online casinos.
Note: If you are still not sure of what crypto-currencies are and how they can be used, one sure to read this starter-guide to cryptos.
Yes, the name signifies that immediately. Crypto, meaning hidden.
Now, why would one want to hide who they are online when placing a bet?
You might not know this, but as a registered gambler and regular sports bettor, you are subjected to a lower credit score imposed by your bank because they see you as “a threat”.
With crypto, this is completely by-passed and by using Bitcoin, Ethereum (or any other online currency), you are completely anonymous in the digital world.
What does this mean to you?
This means that you will be protected and your identity and your online activities can not be traced back to you.
However, there is one thing to remember; the bank is there to secure your safety online, with crypto, you do not have this but you can protect yourself.
As they commonly say, with great power comes great responsibility, so make sure you have your Bitcoin funds well protected in secure wallets and also look for secure online transactions with the online casinos, which they happily offer…
Online Casinos Love It
The online gambling industry is usually one of the first industries to adopt certain new technologies such a cryptocurrencies.
What this has allowed the online casinos to do is to completely bypass the banking system (and all the negative connotations mentioned above) and now have a one-on-one access to their user without a 3rd party intermediate.
These few layers less of issues brought with it another big benefit not for just casinos, but for users as well in the forms of…
Yes, while most online casinos do offer some serious welcome sign up bonuses, the ones that accept Bitcoin are the ones that are offering the biggest bonuses in the industry.
It’s not rare to come across casinos that offer a meager $100 sign up bonus, but a 1BTC sign up bonus ($4,500) when joining.
Why is this and how can this be possible?
It is posible because of the many less restrictions on the exchange of money mentioned above. There’s also a little secret to crypto that the casinos are ‘betting” on that may also work for you and that is…
It Will Rise In Value
Another major reason why bitcoin is the best currency to use with online casinos is the fact that crypto, for the forceable future, will only continue rising in value.
Yes, there’s always the chance that it will crash and the crypto-bubble will pop once and for all but that is highly unlikely.
Obviously, I am not a financial advisior so please don’t take this advice as such but investing in crypto is one of the best ways to store value that will continue to rise over the next few years.
This of course, allows casinos to offer such bonuses because they are hoping on just that; that bonus they offer (when you too deposit bitcoins) will ultimately increase in value over-time.
This of course applies to you as well; whatever winnings you make with Bitcoin they are bound to rise in value for the next few years.
Again, I am no financial advisors or not claiming to be one. As we said above great power comes great responibilty so be sure to seek legit advice online on how to use cryptocurrencies.
One other fantastic reason and one I am sure a lot of players will like is the fact that crypto allows for instant payments.
Now the reason for the “?” Is that its “not yet”.
While yes, cryptocurrencies can be transferred as quickly as sending an email out, the technology that powers it on the backend is currently not catching up with the demand of the transactions being made.
Just like it was impossible to send an email with a picture in 1999, so it is impossible for bitcoin to transfer immediately, but once we build the infrastructure (like we did with email), it should be able to transfer that quickly. .
How would you like instant withdrawals and instant deposits?
We sure would like them and that is why we are banking on Bitcoin, Ethereum and other cryptocurrencies on becoming the best currencies to use with online casinos.
We’d like to hear your thoughts on this so let us now if you have ever, or will ever use Bitcoin to fund your gambling activities online.
Is this something you are willing to do ? Your thoughts will only add to the discussion below so let us know.