Bitcoin is a decentralised cryptocurrency that is extremely anonymous. It is impossible to trace the amount back to the payer of the amount because of the technology that bitcoin uses; called blockchain technology. A large number of people are still skeptical about this revolutionary cryptocurrency. They do not realise that the founder of Bitcoin is still anonymous to date, and goes by the pseudonym ‘Satoshi Nakomoto’. Here are some of the advantages of using bitcoin for gambling.
Traditional casinos are usually sneaky when it comes to their house edge. They almost never give information regarding the house edge to the gamblers. It does not end there though. Traditional casinos are also infamous for using certain tricks to get an upper edge on the gamblers. In bitcoin casinos, gamblers do not have to fear the house, because the house edge of all the games that are available in the bitcoin casino is provided to the gamblers. This level of transparency ensures a mutually positive business relationship, thus eliminating almost all types of scams.
Traditional casinos usually require their customers to provide them with private and personal information, especially credit and debit card details. Providing such confidential information to these platforms can be a risky endeavour. This is further accentuated by the dreary process of filling the forms required to give those details. Bitcoin casinos eliminate this impediment guaranteeing the gambler’s safety. In most cases, all gamblers have to do at a bitcoin casino is to deposit funds at a specified location and start gambling, just like that. They also do not ask for a lot of private personal information and this ensures that bitcoin casinos are much simpler and safer to play on.
In traditional casinos, gamblers need to deal with transactions and deposit fees. They also have to bear with a myriad of taxes and duties, reducing their winning amount quite drastically. However, in bitcoin casinos, the transaction fees are either zero or very low; absolving any kind of such fees. Bitcoin as a cryptocurrency is not regulated by any third party or bank, hence making transactions much cheaper. Gamblers get to enjoy low withdrawal fees and deposit costs, thus making bitcoin casinos much more preferable over traditional casinos.
It is convenient to use bitcoin because it is a global currency and can be used from all corners of the world. This is an added advantage because a lot of countries restrict gambling entirely and the citizens do not have any other means of reliable gambling casinos. Gamblers using Bitcoin casinos can evade the possibility of joining illegal expensive sites. Clients receive full access to their earnings and they can withdraw the amount whenever they please.