For years, online casino banking has been dominated by popular eWallets like Neteller and Skrill, and credit cards like Visa and MasterCard. But things have changed lately, with more players using Bitcoin for online gambling than ever before.
This cryptocurrency is unique since it's not controlled by governments or banks. It also allows players to do their casino banking safely and anonymously. Why else is Bitcoin quickly becoming the preferred banking choice of online casino players? Find out as we discuss 3 big reasons for the rise of Bitcoin in online gambling.
1. Bitcoin Is Easy to Use at Online Casinos
When people play online casino games, they don't want to deal with headaches regarding their banking. Unfortunately, some banking options are not only confusing to use, but they also make players wait days on withdrawals. Bitcoin differs in this way, though, because you can quickly get started and the transactions are quick.
What's more is that you don't have to wait on cashouts being approved by a third party, like with PayPal or Neteller. Furthermore, a third party doesn't need to see IDs and utility bills before your deposit is approved.
2. Bitcoin Offers Privacy and Security
Just because Bitcoin isn't regulated by a government or bank doesn't mean that it's not safe. In fact, Bitcoin offers supreme security through end-to-end encryption to protect transactions. You can also store this cryptocurrency through dedicated websites, private computers, or USB devices.
These methods not only keep your cryptocurrency safe from hackers, but also keep transactions private. Considering that eWallets and credit cards can track your online gambling transactions, this is an advantage for anybody who wants their online gaming life to remain private.
3. You can Get Bitcoin Casino Bonuses
When you use eWallets and other banking methods, the online casino gets charged transaction fees. But Bitcoin doesn't result in any fees to the casino, which is why they encourage you to use this cryptocurrency through the form of special bonuses. One example is a 100% match deposit bonus up to $200 on your first Bitcoin deposit.
Combined with the other advantages that we've discussed, it's worth going after Bitcoin casino bonuses when you have the chance. It's also worth using Bitcoin for the convenience, security, and privacy that this cryptocurrency offers online casino users.
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