Just like The World Wide Web, when it was first created and released for public use, Bitcoin has made countless headlines since being introduced into the world, making quite a stir among online currency users and technology enthusiasts.
As can be expected, many companies and associations are jumping on the bandwagon and coming up with various original and user-friendly ways of bringing people all kinds of perks from using this method of payment.
The history of bitcoin in the online casinos industry
Among the first establishments to accept Bitcoin as a payment alternative, many Las Vegas casinos were thrilled to be able to offer this comfortable, fast and easy approach to paying for various services provided by their company, however, as easy as it was to use for paying restaurant or hotel bills, they took their time to implement it in their gaming systems, as providers wanted to be absolutely sure they were offering the safest and most dependable payment arrangement to their customers.
Nowadays cyberspace is teeming with online casinos that accept this payment method for all the types of games they offer, from free slots to poker, Bitcoin really ups the convenience level for all parties involved and promises that the players’ welfare is their top priority.
Advantages of using bitcoin in the online gaming industry
Starting a Bitcoin gaming business offers many advantages, such as accessibility and ease of use: it is considerably less complicated than others in regards to setup costs, operation expenses, time and other expenditures. It can be used by anyone, anywhere, the only requirement being an internet connection.
Similarly, cryptocurrency gives gambling providers the chance to offer better odds to players, because the transaction fees are virtually nonexistent. Also by using Bitcoin all deposits and withdrawals are definitively finalized, thus eliminating the risk of chargebaks and fraud.
For players the Bitcoin method offers better fund control, thanks to its transparency, and anonymity, while also decreasing the risks of money laundering. It also gives the gamers a way of checking the online casino beforehand and see if the games’ results are genuinely random before they engage in business with the specific casino.
Some other very innovative perks of Bitcoin that will definitely triger changes for the better in the gambling industry, include insuring genuineness of random number generators and removing counterparty risk. As technology for these features develops, many more possibilities will become available to the public and make those willing to keep up with the new changes able to conduct safer and more reliable transactions online.
The popularity of digital currency technology has not only taken over the online community, but has also extended to the offline community. For these reasons, it’s definitely safe to assume that Bitcoin has already made its mark and will continue to do so henceforward.
If you’re thinking of following in the footsteps of so many who have already tried and loved this method, particularly if you want to gamble online by using cryptocurrency, you should make sure you check the chosen online casino’s statistics as well as the bonuses it promises in order to make sure you are taking advantage of the full potential this method has to offer.