Learn about the benefits of using Bitcoin at online casinos. In this short overview, we discuss the pros and cons of BTC and how to use it at online casinos.
Bitcoin was created in the wake of the major 2008 global financial crash and was created as an alternative monetary policy in protest of the global banking system.
It took about ten years before the true power of Bitcoin and the blockchain was realized, after which the price of bitcoin skyrocketed and brought it into the spotlight.
The blockchain was created to facilitate the transaction of digital assets on the internet, be it in the form of money or any other digital assets. It does so with great efficiency and speed compared to traditional methods of transferring assets from one person to another.
Online Casinos have started making use of this fantastic technology because of the great benefits it carries, not only for them as operators but also for the clients that make use of this new payment method.
There are some great benefits for both parties, and in this article, we will take a closer look at how this new payment system can benefit you and how to take advantage of this new financial system.
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Using credit and debit cards on the internet has always been risky, and today, even more so as the internet is growing larger and even more hackers are looming on the internet with more powerful tools at their disposal than before.
When handling your BTC tokens in a responsible and safe manner, it can be virtually impossible for any nefarious actors to get their dirty hands on your crypto tokens.
BTC Payments can be much safer and quicker when performed correctly than your traditional bank payments.
In addition to safety and speed, clients that opt to use BTC instead of credit or debit cards can also enjoy a certain level of anonymity as they do not need to provide the online casino with their personal details in order to make or receive payments. This is a very attractive feature for clients because, let’s be honest, who likes sharing sensitive data with an online casino you have never visited before so that you can play a quick few games to pass some time?
Since using the Bitcoin network is so much cheaper than going through the banks, the casino operators can afford to offer clients some handsome signup bonuses and rewards it would otherwise not be able to do.
In addition, clients can gain access to crypto-only games and all the other games available to everyone whilst they enjoy some extra free spins and credit on the crypto-only games.
As mentioned above, clients making use of Bitcoin as a means of payment can enjoy some great benefits over those that use traditional payment methods.
Since banks do not process transactions over weekends and holidays, and in addition, international bank wire transfers can end up taking days instead of minutes or hours. You can see how this can create major headaches for someone who, for example, is traveling abroad and going from one country to another.
Speed is one of many benefits, and users can also enjoy the anonymity that goes along with BTC payments. Although you might need to be registered at a crypto exchange to buy and sell BTC tokens, you won’t need to give any of your information to the online casino, and since your BTC wallet address is not registered to your name, there is a great deal of anonymity that goes along with it.
Safety is another major benefit when it comes to using Bitcoin. Yes, when Bitcoin is stored in what is known as a hot wallet or also known as a software wallet, there are some risks involved. These crypto wallets come in the form of software applications on your computer or smartphone.
But when making use of a crypto hardware wallet, a physical device that connects to your computer that stores cryptocurrency private keys, it becomes virtually impossible for anyone to steal your crypto tokens.
This makes using BTC as a payment method faster, cheaper, and more private than traditional banking systems, as well as incredibly secure.
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Bitcoin has changed drastically changed the financial world and brought with it some great benefits to finance never seen before. It has opened up never before seen opportunities for online casino players, and those that take advantage of this new technology will only see benefits from it.
There are some concerns surrounding security when using software wallets, as well as the Bitcoin price volatility. These problems, however, can easily be overcome by only using hardware wallets only using BTC as a quick payment option and not holding large amounts.
The benefits that BCT as a payment vehicle offers significantly outweigh the cons of traditional banking systems, and by embracing this new technology, users can protect themselves from the pitfalls that exist otherwise.
Most crypto-based casinos offer traditional table games and all the popular slot games found at most online casinos. If you want to play a specific game, please always check in at your preferred online casino.
Most of the crypto casinos will accept bitcoin as its the most popular cryptocurrency on the market.
The best way of keeping your bitcoin safe is by storing it in a hardware wallet. It is a physical device that connects to your computer that authorizes all your payments out of your crypto wallet. You do not need the device to receive payments.
If you are going to use Bitcoin, you will need an account with a crypto exchange. Instead of holding onto large amounts of Bitcoin, you can instead only purchase a small amount each time you want to do a transaction.
Soft wallets can be safe, but generally, you should keep separate wallet addresses for different purposes. Never connect your main wallet to any websites.
A BTC block is processed about every ten minutes, but your transaction can end in a long queue. In rare cases, a transaction can take up to about an hour or more.
The transaction fees for Bitcoin vary depending on how congested the network is, but it typically ranges between $2.00 and $4.00.