Bitcoin has become more and more popular in online gaming as US players realize how quick and easy it is to use this cryptocurrency. Thanks to an increased volume of players, Bitcoin casinos have grown and added more games. And perhaps the pinnacle of this growth is BetChain Casino, which now features over 1,000 games.
BetChain started like most other Bitcoin casinos in 2014, offering a small selection of games. But the online casino grew along with Bitcoin and now boasts 1,000 games, making it one of the largest casinos in the iGaming industry.
The games are spread out across a number of providers, including Amatic, Betsoft, Endorphina, Microgaming, iSoftBet, NetEnt, PocketDice, and SoftSwiss.
BetChain isn't the only Bitcoin casino that's growing, so let's discuss the growth of this genre along with why this cryptocurrency is so popular in online gambling.
From Pizza to Booming Casinos
The first Bitcoin purchase occurred in 2010, when somebody bought a pizza for 10,000 bitcoins. Few people knew about Bitcoin back then, but they certainly know about it now.
Many online businesses quickly realized Bitcoin's potential and began promoting it to cut transaction fees and speed up the process.
But few industry's have gone as all in as the internet gaming world, which prominently features Bitcoin among other famed banking options like MasterCard, Visa, Neteller, and Skrill.
Why Is Bitcoin So Popular?
What attracted online casinos and other businesses to Bitcoin are the same things that online gamblers love about the cryptocurrency today: Bitcoin is anonymous, fast, and isn't associated with central governments or banks.
Regarding the speed, Bitcoin transactions don't have to be verified by a third party. This means that when you make a deposit or withdraw money, funds are available immediately.
The lack of involvement from banks and governments also means that Bitcoin online casinos can offer their services anywhere. This is particularly helpful to US players, who have limited casino and online banking options available to them.
The Future of Bitcoin Online Gambling
Although governments like the US have talked about finding a way to regulate Bitcoin, they don't currently have the means to do so. After all, Bitcoin is an anonymous service that uses the work of "miners" and other public servants to power this virtual currency. Because of this, we don't see governments or banks having any involvement with Bitcoin in the foreseeable future.
This means that you can expect Bitcoin to continue expanding and being used by online gamblers to fund their accounts and play games with. Given the fact that Bitcoin is secure, fast, and doesn't require processing fees, it's definitely worth checking it out if you haven't already.