What Security Does Bitcoin Offer Online Casino Players?
Ever since being invented by the famed computer programmer Satoshi Nakamoto in 2008, Bitcoin has gained more and more popularity in the online gaming world. Bitcoin is unlike any other virtual currency in the world because it's the first decentralized e-coin on the market.
When you play at online casinos with Bitcoin, you don't have to deal with banks or governments, waiting on transactions, or faxing copies of your ID/utility bills just to get started. Thanks to these unique advantages, Bitcoin now has over 100,000 people worldwide doing transactions with this cryptocurrency.
Of course, with the advantages of not being tied to a government or bank comes questions about Bitcoin security. That said, let's discuss the security that Bitcoin offers when you're playing at online casinos.
Bitcoin Fraud Is Much Lower than Credit Card Fraud
Bitcoin has such good security measures in place, so using it at online casinos carries far less risk than when you use a credit card or eWallet. In fact, credit card fraud has reached an all-time high, whereas Bitcoin is subject to less fraud than any other payment method.
This isn't to say that Bitcoin hacking is impossible, but it's very hard to do. If somebody wanted to access your Bitcoin wallet, they would not only have to physically access the device you use, but also figure out your wallet's keys. The fact that hackers must physically access your device provides a big layer of extra protection.
Bitcoin Doesn't Give Away Your Personal Information
In no circumstance does anybody want their identity known or privacy violated when making online casino deposits. Sadly, this is common when dealing with credit cards and eWallets, which can track your activities.
Bitcoin, on the other hand, is completely anonymous and doesn't require you to send personal information when opening a wallet or making transactions. With identity theft growing with each passing year, Bitcoin's anonymity is a good way to avoid being a victim. Deposits are made directly into your casino, your funds are available immediately, and nobody is able to see who made the transaction.
You Don't Have to Pay Fees with Bitcoin
Beyond Bitcoin's security and anonymous transactions, yet one more reason to consider this popular banking option is the lack of fees. Because Bitcoin doesn't involve a bank or third-party payment processor, there's no company taking a slice of your online gaming deposits or withdrawals.
Anybody who's used common banking methods like MasterCard, PayPal, Skrill, and Visa will appreciate not having to pay cashout fees. This is especially the case with credit cards, with can charge major fees and interest. Yet one more bonus here is that you don't have to wait on a third-party to analyze your transaction, meaning your funds are available immediately upon cash out.
Bitcoin Online Casinos Are Very Common
If you want to enjoy the safety and security of Bitcoin gaming, the good news is that you won't have to look very hard. Many online casinos now accept Bitcoin as a banking option, allowing you to use this cryptocurrency at many of your favorite casinos. In some casinos, Bitcoin is the only payment method accepted because this is the easiest way to get around strict government regulation and accept players from every country.
Taking everything into account, it's worth creating a Bitcoin wallet and getting funds for it if you enjoy online gaming.