Online casino games have evolved over the years, and the evolution has been more drastic since the introduction of cryptocurrency in the online gaming sense. Almost all online casino sites have now started recognizing cryptocurrency as one of their mode of payment. Amongst all the cryptocurrencies, Bitcoin is the most popular and reliable cryptocurrency used for online gambling on casinos such as bitstarz games. The underlying reasons why one should use Bitcoin to play online casino games are as follows:
- Popular and Reliable – Since the inception of Bitcoins, many other cryptocurrencies have also flooded the market. Bitcoin is the first, most reliable, and most popular cryptocurrency. It is always safe to use Bitcoin as the medium of exchange to play online casino games. In fact, it is seen these days that most players Bitcoins more than the regular mode of payments like a credit card, debit card, and bank transfers.
- Privacy – Bitcoin is the decentralized currency outside the purview of any particular central bank or country or government. Privacy was the main for which Bitcoin was created back in 2009. It makes the transaction quicker and more secure. The person paying using Bitcoin can keep itself completely anonymous as the details of the person making the payment are not visible to anyone. A wallet is created for every person who owns a Bitcoin, and the payment is made from the wallet itself. Every wallet has a distinct digital address that is unique to the owner of the Bitcoin, and since the address and the wallet are both in the digital world, they cannot be tracked by any agencies. It is important for the person to keep the password to himself and not disclose it to anyone.
- Low Transaction Cost – As mentioned earlier, Bitcoin is a decentralized unit outside the purview of the current banking system. Hence, the bank charges and online payment charges charged by the banks are not incurred and hence eliminated. When a customer uses Bitcoin mode of payment, a transaction cost is only charged, and the charges are significantly low and sometimes even nil. All transactions using Bitcoin are maintained in a public ledger by a blockchain. Blockchain is a tool to keep track of the transactions made and acts as a database. The only fees incurred by the player are while withdrawing money from the casino, but this fee is also a very small amount that generally gets unnoticed.
- Fast Transactions – In the traditional mode of payments, the transaction can take up to two to three days, and the process can be very cumbersome and time taking. Bitcoins are a virtual currency, and hence online payments made with the help of Bitcoins can be done seamlessly and instantly. The money gets transferred directly from the person’s wallet to the online casino sites without any intermediaries like banks.
- Bonuses and Rewards – This is one of the most important advantages of using Bitcoin in online casino games. The online casino games want to promote Bitcoins as the preferred mode of payment, and hence they provide huge bonuses and rewards to the players playing with Bitcoins. The player may be eligible for these promotions only if he is paying using Bitcoins. To receive one Bitcoin as a bonus is almost guaranteed, and some players get rewarded up to five Bitcoin as well. They offer free spins and cash back bonuses, and these spins are easily available to players playing through Bitcoins. The players are also rewarded with special entry tickets for poker tournaments and other special events like this.
- Fair Betting – Playing casinos on online games is always fairer than the traditional ones. These games are all made using the random number generator, and it becomes impossible to decode the winning pattern. Even the casino owners are unable to tamper with these codes and make the betting fair and square.
- Security – The person making payments through Bitcoin may not furnish any of their personal information. In general, it is mandatory to furnish a player identity if they are making payments through the mode of payment. For the person paying with Bitcoin, his identity and address are both secured as the address; the person needs to furnish is the address of the digital wallet only.
- Licensing – It is important to check the licenses and the legality of the online sites before start playing online casino games. There are numerous cryptocurrencies available in the market, but the most preferable cryptocurrency is Bitcoin. An online site that accepts Bitcoin as its preferred payment has to keep all its licenses updated. Bitcoin does not give permission to use it as an exchange to those online sites whose licenses are not in order. It is important for the player as it helps to keep his winning amount safe and secure.
- Valuation – Bitcoins give the best return on investment to the person investing in cryptocurrency. Bitcoin was launched ten years back, and people have made millions of dollars by just holding their investments. The current valuation of 1 Bitcoin is around 40000 USD. Five years back, 1 Bitcoin was valued at 1000 USD, hence in the span of 5 years value of 1 Bitcoin has increased 40 times. It is slated to become one of the most valued companies in the world very soon. By selling and purchasing Bitcoins at the right time and keeping a tab of highs and lows of trading prices of Bitcoin, one can make a huge number of profits. These profits intend to be an added advantage over and above the amount that is won in the casino.
Cryptocurrencies have gradually become a more acceptable mode of payment. Bitcoin has emerged as a king of all the currencies available in the market for playing online casinos. With the increasing popularity of Bitcoins, now almost all casinos including bitstarz games have started accepting Bitcoins as the preferred mode of payments. As the points that have been mentioned above, the players are the ones benefiting the most from Bitcoin casino games and making payments through this mode.