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In recent times, the financial sector has seen great technological advancements that have introduced the use of digital currency. Among the leading options on this platform is Bitcoin, which is a cryptocurrency that can be used to purchase goods and services like real money. Satoshi Nakamoto is the man behind this invention but keeps a low profile even with his creation garnering such massive acceptance. Today, Bitcoin is used by thousands of people around the world and trades millions of dollars every day, which has made it an important pillar in the economic sector.
The casino business has been known to jump on board new inventions that influence the lives of many just like they did with the online and mobile platform. We encounter a similar case with cryptocurrency, especially BTC. Numerous casinos that accept this currency as a form of payment have risen in the past few years once the mode of payment gained popularity. Their widespread use is quickly catching up with online slot machines with PayPal offered as a mode of payment as well as other real money platforms. This move has also been witnessed with other big industries around the world.
Advantages of Bitcoin
Bitcoin comes with numerous advantages that have allowed it to garner such a massive following in the gambling world in such a short time. Some of the benefits this cryptocurrency has over conventional cashier options include:
- Bitcoin is not regulated by any financial institution such as banks and credit card companies, which act as intermediaries with other forms of payment. This provides a lot of freedom to the Bitcoin holder since they act as their own bank and have the freedom to establish their own regulations and they do not have to pay any fees during transactions. This advantage applies to both the gamblers and casino investors
- Gamblers do not have to worry about Bitcoin suffering from inflation. The creator of the BTC generator programmed it to mine the currency at a pace that will make inflation impossible. Additionally, there can only exist a maximum of twenty-one million BTC. Given the pace at which they are mined, this amount will be achieved in no less than one hundred years
- BTC cannot be counterfeited. When a Bitcoin is produced, it is marked with a unique signature that is impossible to replicate. That way, one does not have to worry about receiving counterfeit cryptocurrency, which is quite a problem with actual cash
- Transactions are conducted much faster than with other cashier options. Deposits are usually processed almost immediately while withdrawals take a few minutes to a couple of hours. This is unlike real money payments that can take as long as ten days
With such advantages under its belt, it is easy to see why BTC casinos are quickly rising in popularity.
How to Get BTC
The acquisition of the product has been made quite easy. In most cases, it is provided as a mode of payment substituting actual cash. One also has the option to visit sites that specialize in the sale of this cryptocurrency. Some of these sites include Coinbase, Kraken, Indacoin, LocalBitcoins, and SpectroCoin. There is also the option of mining the BTC, but it is quite complicated and requires the use of complex mining applications. Therefore, the first two options are the best.
There is no definite answer to how much BTC costs. When the product was initially launched into the market, one BTC was selling for less than a dollar. Today, one of them goes for well over fifteen thousand dollars. However, this price can rise and fall depending on how the market is doing. So one is advised to be in the loop on market exchange rates to keep themselves informed on the best time to buy.
Before one proceeds with the purchase of this cryptocurrency, they should first have a wallet to store their coins. These wallets come in two options: hardware wallets and hot wallets. The former comes with the storage of the wallet’s secure code in a physical electronic device. The latter, which carries an online and software wallet option, has the code stored on the virtual platform. Each of these alternatives has their own set of pros and cons; therefore, one should conduct the necessary research before settling on a choice.
Popular BTC Casinos
The widespread growth of this currency has seen numerous casinos embrace BTC as a mode of payment. This has made it easy to conduct any transaction for both the casino investors and players alike. Some of the best gambling destinations that come with this option include:
- Bovada Casino
- Ignition Casino
- Lincoln Casino
- 1 x Bbit Casino
- Oshi.io Casino
- Intertops Casino
- Raging Bull Casino
- Balzac Casino
- Megawins Casino, etc.
Some of these casinos are developed solely for the use of cryptocurrency and do not feature other cashier options. Others, such as Raging Bull Casino, merely included it to their already existing list of options. Some of these casinos also provide other forms of cryptocurrency such as Black Coin, Metal Music Coin, Kiwi, Dash, Lottocoin, Litecoin, and Peercoin.
The use of BTC does not change the gameplay of the casino games. Wagers are placed the same way one would when staking real money. The list of games one can use this currency on is also quite wide and includes slot games, blackjack, roulette, poker, baccarat, video poker, and craps.
The number of gambling destinations that offer BTC is limited in comparison to those that offer real money games. However, the massive influence this cryptocurrency is having on the gaming industry is quickly changing this up with new BTC casinos rising now and then.