If you regularly frequent online casinos and are familiar with sites such as www.bestcasinosites.net, you know that Bitcoin gambling is becoming increasingly popular in cryptocurrency communities across the globe.
This should not come as a surprise, of course, with Bitcoin now boasting a market capitalisation of $117.81 billion and a growing range of applications across a number of industries.
But why exactly is bitcoin gambling so popular in crypto communities? We’ll explore this in the post below!
1. Privacy Considerations
To understand this in greater detail, it’s first important to understand what Bitcoin is and how the technology that underpins it operates.
In simple terms, Bitcoin operates on a fully decentralised blockchain, where value and ‘token’ can be transferred from one node to the next.
This effectively creates a decentralised and (most importantly) immutable ledger, which is also fully anonymous, secure and well-protected from fraudulent activity and the machinations of cyber thieves.
Such benefits are paramount, while the security advantages provided by blockchain technology come into their own when Bitcoin gambling.
More specifically, you can use your minded or purchased Bitcoins (BTC) directly at a casino that accepts this currency, transferring value to the operator’s existing wallet before accessing real-money games without the need to provide any alternative criteria.
Of course, many will also celebrate the anonymity that this provides them with, but it also boosts security by negating the need to enter sensitive personal information when wagering online or upload verification documents to support your identification.
The collation of this data is crucial to the operation of modern casinos, but it’s also deeply concerning from the perspective of individual players.
However, it’s not an issue when you indulge in Bitcoin gambling, which drives a secure and anonymous experience that safeguards your most sensitive personal data.
2. Introducing Bitcoin Bonuses!
Online casinos also operate using the very latest in cutting edge technology, while they increasingly use competitive and lucrative bonuses to engage players and maintain their interest.
The same can be said for Bitcoin casinos, which arguably offer even more generous bonuses as they continue to exist on the fringes of the mainstream iGaming marketplace.
These bonuses are particularly alluring as they offer deposit matches and additional Bitcoins with which to play, creating unique and tangible value from the perspective of players.
Some examples of lucrative Bitcoin welcome offers include a 152% first deposit match up to the value of 2 BTC, along with 180 free spins that can be used on a vast array of slots.
This can amount to considerable amounts of free gameplay, particularly when the value of Bitcoin is in the ascent and you’re able to achieve far more bang for your buck!
3. Safety and Security – Wager with Peace of Mind at a Bitcoin Casino
We touched earlier on privacy considerations, and it’s fair to say that there’s a great deal of overlap when it comes to privacy, anonymity and security when wagering online at a Bitcoin casino.
This is particularly important when considering the criminal element and issues such as cyber theft, as players are often vulnerable to the machinations of thieves when they use unique usernames and passwords to log in to their respective accounts.
Malware and adware provide particularly pertinent issues in the digital age, but the good news is that Bitcoin casinos are ideally designed to negate many of these issues simply by minimising the amount of personal information required to open an account.
Remember, whenever you register or play at a Bitcoin casino, no personally identifiable information is needed to change hands between you and the individual operator.
Similarly, you should note that crypto wallets are not linked to your bank account, PayPal or any other e-wallet that may hold additional funds.
You can create a more secure experience by using a hardware cryptocurrency wallet, which is stored corporeally on a mini-USB device and introduces a further layer of security for players.
On a final note, remember to use your own Bitcoin wallet when processing transactions, as this also offers numerous security and taxation benefits.
Those of you who have a hardware or Cloud-based wallet (particularly one that’s unregulated) will definitely prosper at a Bitcoin casino, as you can use this to transfer tokens back and forth securely and free of commissions.