Like any other industry, the casino gaming industry drastically changes every time any new technology is invented.
In 2009, the world was in for a big change when Bitcoin was first introduced in the market. Since Bitcoins became a bit of a craze, online casinos, too, could not have been left behind and thus started using Bitcoins as the preferred mode of payment.
The fact is that Bitcoins have several advantages over other forms of payment methods.
Firstly, it is a payment method that online casinos can use, which is accepted worldwide; players can use bitcoins to play free games.
For those who might know what Bitcoins are –
What Is Bitcoin?
Bitcoin was the first cryptocurrency launched in 2009 by Satoshi Nakamoto, and since then, it has taken the financial world by storm. After the popularity of Bitcoins, many new cryptocurrencies were launched.
Role of Bitcoins in Casino Gaming
Bitcoins play a considerable role in casino gaming as it successfully solves several problems faced when players use other payment methods. Traditional payment methods like net banking and credit and debit cards take lots of time to complete a transaction. The players also have to pay an extra charge to the banks or intermediary organizations.
But if they use Bitcoins, the players can make the payment, and it will be completed instantly, and they will not have to pay any extra transaction charge to banks. Some of the significant roles that Bitcoins have in the world of casino gaming are as follows:
Increased Security Measures. Bitcoins use the latest technological invention in security and safety measures called Blockchain technology to ensure that no one can manipulate or change the transactions made using Bitcoins. In the case of traditional payment methods, there are some risks that a hacker can hack into the private details of the players using the payment methods and transfer money according to their wishes. However, with Bitcoin payments, it is impossible to transfer money without the user’s authorization, as all the transactions ever made with Bitcoins are readily available in public ledgers. So anyone can check the public ledgers to find out all the transaction records they have made using Bitcoins. You can play at several online casinos using Bitcoins without worrying about your payment security and safety.
Superfast Transaction Time. Generally, when a player deposits money in an online casino using net banking or other methods, they must wait for the transaction to be completed. Moreover, different banks have different transaction periods; sometimes, it can take up to one week to complete just one transaction. In the case of Bitcoins, you will not have to wait even for a moment to complete the transaction, as there is no intermediary involved in the process. Bitcon Casino India is one of the safest way to invest in casinos as it gives you absolute privacy
Very Low Transaction Charge. Whenever a casino player withdraws some money they have won in the casino games, they have to pay a certain amount to the banks or the middle organizations, but for Bitcoin transactions, the transaction charge is almost negligible. This is why many professional casino gamblers have shifted to using Bitcoins for playing at casinos. In the long run, they can save lots of money on transaction charges.
Special Cryptocurrency Casinos. Many online casinos accept only cryptocurrencies like Bitcoins as they do not have to partner with other third-party organizations like banks and payment operators. It is prophesied that, shortly, almost all online casinos will shift to using Bitcoins as their preferred modes of payment.
People generally fear new things, but once they know about the benefits of new things like Bitcoins, they start actively using them. So get over your fear of using Bitcoins and start playing at online casinos using Bitcoins to get the most benefits.