Making deposits into several online casinos just got easier. The online gaming industry has long been a leader in adopting the latest technology. Knowing this, it was only a matter of time before we started to see the gambling world adopt the newest form of digital currency, Bitcoin.
Bitcoin game is the same game as other games in online casinos, but it has a lot of advantages that you really like.
As bitcoin makes its way into the homes of mainstream users, more and more USA online casinos are starting to accept it as a secondary, or even preferred deposit method. So why use this option over the rest when it comes to gambling? Bitcoin actually holds several key advantages over traditional deposit methods, which attribute to its growing popularity. The advantages are:
Privacy is important to just about everyone on the internet, and even more so when conducting financial transactions. When depositing with bitcoin there is no need to expose any of your financial details. This works because when using bitcoin, you are able to send money directly to the casino using a disposable account number (bitcoin address). When using proper bitcoin etiquette, you are given a new account address for each transaction. Once the funds from that number are spent, a new number will be automatically generated by your bitcoin wallet.
But Privacy doesn’t just stop there. Bitcoin works as a two key system, a public and private key (again, known as bitcoin addresses). The public key can be given out freely, as it can only be used to deposit funds onto. To spend your bitcoins (send them to another address) you are required to also hold the private key.
Lower Processing Fees
This is one of the biggest selling points bitcoin has to offer. While banking institutions typically charge fees in the double digits, bitcoin fees amount to just a few cents per transaction.
Processing a bitcoin payment is nearly instant, usually ranging from a few seconds to minutes. When depositing into debit card casinos, you will see your funds credited right away. You can usually start playing within 30 seconds after your deposit has been sent. When cashing out from the casino, your payout request will still need to be manually approved by the casino staff, but once sent you will again receive the funds right away.
Increased Payout Limits
Many online casinos have a limit on how much they can payout per day, week or month. This limit is usually dependent upon your payout method. Being that bitcoin is a decentralized currency, these limits are often several times higher or eliminated all together. This is usually an issue after someone wins a jackpot or other large sum.
While it may seem that bitcoin is a new medium, it was created in 2009, and as of the writing of this article (Q1 2017) bitcoin currently holds a market capitalization of just under 15 billion USD. You may have heard of bitcoin in the news recently, or talk of bitcoin from friends and family. Up until about 2015, it was mainly been used by enthusiasts and more recently as an investment vehicle. But as of 2016 it has started to become much more mainstream, being accepted by several of the Internet’s largest online merchants, including many online casinos.