28 July 2021
Cryptocurrency is being welcomed with open arms by various large corporations and industries. The Crypto technological advancement has opened floodgates of opportunities to every industry and individual that dives in. One such industry is Bitcoin Casinos toughing up with the Traditional Casinos. The gaming companies are adopting the Crypto and Blockchain industry like never before.
The reason behind the growing popularity of Bitcoin Casinos is the advantages and potentials it brings to the table. However, many online gamblers are unsure about Bitcoin or Crypto casinos as a whole due to various speculations surrounding, such as volatility, security, regulations, and so forth.
Crypto Casinos have brought several significant changes and adaptations to the gambling industry which is beneficial for casino owners and players. The online presence of casinos creates a comfortable experience for its users, while along with Bitcoin, it acts as a cherry on the top.
In this blog, we are going to discuss 10 Advantages Of Bitcoin Casinos:
1. Bitcoin - itself!
The first advantage of Bitcoin Casinos is the currency itself. Bitcoin is known for its store of value and has been recently playing price rallies of bull runs, surging its all-time highs. Now, imagine winning and making profits in Bitcoin only to know you’ve won a jackpot.
2. Bitcoin is based on Blockchain
This should be able to answer all your worries. Blockchain technology is decentralized, secured, immutable, transparent, time-stamped, and much more. A currency based on a technology that has the potential to create evolution in various industries can provide more stability.
Also Read, What Are Crypto Casinos - It’s Dos & Don’ts
Security is the key concern while participating in the gambling industry. Due to Bitcoin’s consensus algorithm, anonymity, and many other features, it is much safer and secure than the traditional system. Bitcoin casinos are highly encrypted as it takes place on Blockchain. It is nearly impossible for a hacker to hack into the system of Bitcoin casinos. Needing 51% of network control and changing every block isn’t as easy as it sounds.
Traditional casinos require filling in personal information and banking details during registration. If not handled correctly, sharing confidential data can turn out to be a huge risk factor. Bitcoin transactions provide anonymity to its users since it does not discloses the player’s identity. To commence the game, it requires the player to deposit the fund to a specified address and on the other hand, the Bitcoin network safeguards the personal information.
Bitcoin is based on blockchain, a decentralized network, it eliminates the need for intermediaries, middlemen, and third parties. Since the conventional payment model involves hefty fees associated with transactions and payments, Bitcoin casinos consist of faster transactions and at lower rates.
6. Borderless system
Bitcoin works on a borderless system, thus, you can play and make transactions from anywhere across the world. This also saves you from paying international transaction fees which are usually charged by traditional banks. Also, Bitcoin casinos enable you to access, deposit, withdraw your winnings or funds instantly from anywhere at any time.
7. You are in control of your funds
Bitcoin is based on a decentralized network, meaning no third party, Government, or bank can intervene. You are in complete control of your funds and assets, which acts as a front foot especially when dealing with Bitcoin casinos or otherwise.
8. Provably Fair Algorithm
Bitcoin casinos use the Provably Fair algorithm to maintain the game’s fairness and randomness for their users. The algorithm is also used so that the game will remain untampered.
Transparency is the key and requirement for any transactions we make, especially if it’s gambling-related transactions. Traditional casinos are known for disguising, concealing, or withholding information. It advertises things that look too good to be true to attract people, which eventually ends up with nothing. Through transparency, it will help you to not fall into tricky traps of the operators, such as flashy images, high winnings, promotions, and obscure bonus offers. Bitcoin casinos platforms ensure transparency by dodging the odds as everything is mentioned clearly on the network.
10. Gaming Experience
The options provided by Bitcoin casinos are comparatively impressive than the Traditional casinos. It involves a wide range of high-quality games, with high payouts, such as poker, blackjack, baccarat, slots, live dealer games, roulette, and many more.
The adoption of Bitcoin Casino acts as an advantage for everyone using it and adds up to the Gambling industry’s spectrum. Before entering this thrilling experience, it is crucial to follow the key steps such as thorough research, strategy, goal plan, and risk management. You must play by the golden rule, “Bet what you can afford to lose, and know when to quit the game.”
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.