5 Remarkable Benefits of Switching to Bitcoin Casino
What is Bitcoin?
A cryptocurrency, Bitcoin is a digital coinage that is decentralized without any bank in order or any sole overseer. It is based on the user to user communication without the need for any intermediaries. Substantiated by nodes of the network via the process of cryptography, the transactions facilitated by bitcoin are chronicled in a ledger account that publicly distributed. These network nodes are also known as blockchains.
Invented in 2008, by an anonymous person or group of persons, Bitcoin was started its functionality in 2009 by the pseudonym of Satoshi Nakamoto. Its functionality started when the source code of bitcoin was publicly unconfined as open-source software.
Often created as rewards for a process known as mining, bitcoins can also be bartered in exchange for products, services, and other currencies. As of today, one bitcoin is equal to $8,175.
The global acceptance and admiration of bitcoin as a digital currency has empowered a novel economic scenario to embellish. This is also in parallelism with the economy based on the traditional currencies of the world.
Since the transactions done via bitcoin have pedaled to gain the zenith of popularity, they have been started to be used in a new sphere of gaming, lottery, and gambling, which happens through portals known as bitcoin casinos.
Based on the above argument, below are a few benefits which have been deduced of a bitcoin casino. These are:
As discussed above, we saw how bitcoin, a cryptocurrency that launched in 2009, has had a decentralized nature, thus making it more private with zero government jurisdiction over it. It has known to make transactions quicker and of course, private, which is the essence of bitcoin.
Due to its virtue of being decentralized, the users’ details of bitcoin are not visible anywhere and are definitely not revealed publicly. It is only the address of the user’s cryptocurrency wallet (storage for the bitcoin) that needs to go as sole information. This ensures that even more and more people are picking up on the art of hacking, the user’s details will not slide.
- Reduced fees
In addition to keeping your personal information locked up, the fees for transactions are very low, if not zero, since there is no banking service or system that acts as an intermediary. You can start playing right away with Duckdice Casino as their fee is very minimal.
Hence, although a hefty fee will not be deducted from your account for withdrawing money, a small fee will be charged for Blockchain’s smooth operation.
- Fast transactions
With the absence of any intermediaries, your online casino application will be processed immediately, and the amount will instantaneously be on the way to your wallet. For this transfer of money, Bitcoin can usually take up to 10 minutes to about a couple of hours on an average.
However, one must remember that this does not mean that the money will be credited into your account within a period of 10 minutes.; this is because the online casino may or may not take its own sweet time to sanction the withdrawal.
As a clear result of this process, the transactions could take a little over a day, which is still quicker than using regular currencies.
- Promotions and bonuses
One of the most favored benefits of using online casinos linked to bitcoin is that the user is liable to receive multiple bonuses and rewards. Regular online casinos mostly offer a match bonus of an offer up to 50 to 100%, for a few hundred dollars, one the user’s first deposit.
However, when you use bitcoin, this entirely changes. Using bitcoin, on your first deposit, you almost always receive a full 100 % match bonus.
Mostly, there are more bonuses that you receive for the next few deposits. In some cases, you might even receive a lifetime reload bonus. When you receive multiple promotions that are offered by Bitcoin, you will also be rewarded with cashback and scratch cards and also tickets to events like poker tournaments from time to time.
If you approach online casinos using Bitcoin, most of them will not ask for any of your private information, barring the address of your cryptocurrency wallet and your username. Privacy stands as an alpha for cryptocurrencies. Thus it is advisable to look for another online casino if you are being asked to give away any details other than the two mentioned above. Remember to steer away and try to find a new online casino suiting your interests.
Let us understand this by taking an example. For instance, you had one bitcoin in your account during the commencement of the year of 2017. The price of this one bitcoin would, at that time, be about $ 1000. Had that money been withdrawn by you instead of letting it remain, you would have ended up with at least 10X less the amount than what you would have prospectively made if you were to debit it. Thus, keeping a tab on your earnings of bitcoin is an essential part of what you earn.
If you do everything right, there is a huge prospect of you making thousands of dollars, but if there is one wrong, it can prove to be a downhill ride for you.
Consider the people who invested in bitcoin when it just started off. They are millionaires today only because they did not keep exchanging the bitcoin for regular currency, every step of the way. If you want to make quick money, you can do other things, but investing in cryptocurrency is really an asset nowadays.