If one would look back at the world of cryptocurrencies a decade ago, it was not as big as it is not back then. When it began, Bitcoin, which is considered by many people to be the first form of cryptocurrency, it was a type of digital money that has basically no value at all. It was not until the eyar2013 when Bitcoin saw a significant surge in value which suddenly skyrocketed to more than $200. Now, more than ten years later from its conception, Bitcoin has a value of more or less $11,000. From being an ignored form of money, it has now found uses in a lot of things–as a peer-to-peer payment, for online shopping, and even for online gambling through what people call Bitcoin casinos.
With its ever-growing popularity and success, it is no longer a wonder that more and more online casinos and online sportsbooks are riding along with the Bitcoin trend. They do this by either offering Bitcoin as an additional payment and deposit method or starting a new app or site that exclusively accepts BTC as the only form of payment. You can find a list of apps and sites that are into this trend on review sites like www.betenemy.com if you are interested in testing the watershed on one.
But what makes a Bitcoin casino different? What makes the concept of using an alternative and a new form of payment appealing to some people? Here are some of the top reasons why Bitcoin casino might be your new next choice in online gambling.
It gives you real anonymity
A lot of people take their online security and privacy seriously, and a lot of online gamblers are the same. Some even go to the point of suiting VPN services, despite some fraudulent apps pose more risks to them than security and privacy. On the other hand, Bitcoin is not the same.
It is worth mentioning that a BTC wallet can be created without any personal information from you (the user) needed. Thus, a Bitcoin transaction can be completed without the news to provide or share any bit of information from you, aside from your unique wallet ID.
For betting sites that only have the BTC option as an added choice, you would still need to provide personal information upon sing up. Additionally, withdrawals may require you to verify your identity through a number of IDs and other means. On the other hand, Bitcoin-exclusive betting sites would not ask any of these from you and thus you can play with full anonymity.
No transactions fee
One of the thighs that players have to bear with when it comes to deposits and withdrawals on betting apps and sites is the transaction fees. Regardless of what method you may use–a direct bank transfer, a debit or credit card, or an e-money wallet–there would most likely be a transaction fee. Sometimes, it is a standard fixed-rate, and sometimes it can be 1% or up to 5% of the total transaction amount.
For a single transaction, these fees might not look to be much. However, if you intend to be a long-term bettor, the amount of these fees accumulated can be a lot. Which is why the fact that BTC transactions are free of charge can be attractive to a lot of people.
The catch
Although using Bitcoin in betting has a lot of awesome advantages, there are some things you have to consider, too. First is the legality. Using BTC in online gambling is a grey area in legality that you need to verify with your local laws and regulations. This is because although there are no laws prohibiting the use of Bitcoin in gambling, there are also no laws recognizing it as a real currency and legal tender either.
