As the digital revolution gets into overdrive, we’re seeing more gamers and gamblers opting for digital payment options. There are many benefits of digital currency, including convenience and security. Moreover, depositing and withdrawing your money through digital means is exceptionally easy.
More recently, though, gamblers aren’t just using any digital payment platforms. A growing proportion is choosing to trade in cryptocurrencies, especially Bitcoin. So, why is Bitcoin suddenly very attractive among online gamblers?
Here are worthy reasons why Bitcoin is beating both traditional payment methods (e.g., cash) and basic digital payment methods (e.g., credit cards).
1. Casinos that accept Bitcoin deposits are transparent.
This is a significant draw for gamblers. Traditional casinos are known for concealing information from their customers. They also tend to use tricks that benefit the house. Bitcoin casinos eliminate most of these tricks. The platforms are very transparent. You’ll know about potential winnings, bonuses, offers, etc. beforehand. Nothing is hidden from you.
2. Casinos that you can withdraw in Bitcoin are safe and secure.
This is another major advantage. Although most traditional casinos and other online gambling platforms are straightforward, many people have lost money trying to withdraw from such casinos in the past. The fact that you need to fill endless forms and provide a lot of personal information also leaves you at risk of hacking attacks. Bitcoin betting platforms eliminate this problem by making bettor’s information confidential. Casino’s like 1xBit.com, Bongo.gg, mBit, Cloudbet, Betplay, and Casinoin give players anonymity when gaming, but still offer the dependability of traditional casinos.
3. Betting at Bitcoin casinos is cheaper.
Casinos that accept Litecoin, Ethereum, Moreno, ZCash, etc. are way cheaper than those that only accept credit cards and bank wire transfers. First off, the traditional betting platforms charge exuberant fees. Some charge as much as 20% for deposits alone. You may also be charged for withdrawals, and that’s before you mention taxes. Most Bitcoin casinos don’t charge transaction fees, and where such fee is charged, it’s pretty low.
4. Bitcoin casinos offer greater liquidity.
The best gambling platforms are those that are highly liquid. They have enough money to pay out winnings without any challenges. So, you won’t hear about the installment payment of winnings.
Platforms where you can gamble with Bitcoin also allow for the placement of higher stakes. You might have noticed that some betting sites limit your stake to a few hundred dollars. On gambling platforms that accept Bitcoin, the maximum limit is much higher.
It’s also worth noting that playing at a casino that accepts Bitcoin payments saves you from dealing with unscrupulous exchanges. You also save the exchange costs.