It has been a while since the value of Bitcoin peaked. The last time it did was in 2017 when a Bitcoin was valued at around 20,000 US dollars. That’s the highest it has been and because of that, many people suddenly turned their attention to its use and potential. Many industries started to adapt to its use including the online gambling sector.
Even if it has been a while since its value peaked, Bitcoin users are still on the rise. This is especially now that many experts are anticipating that its value could be at 15,000 US dollars by the third quarter of this year. Some even say that Bitcoin might once again peak at around 20,000 US dollars before the year ends.
With this, many people are once again closely monitoring the value of Bitcoin and more people are once again becoming more curious about it. It’s a great time to start using Bitcoin right now because more and more businesses are starting to accept this as payment from customers. Currently, there are already more options when it comes to how you could spend your Bitcoin or other cryptocurrencies like on gambling online.
There are now many online casinos that accept Bitcoin payments. There are even bitcoin casinos that only cater to cryptocurrency users. If you haven’t tried gambling with cryptocurrencies before, here are some of the important things that you should know.
Benefits of Using Cryptocurrencies When Gambling
There’s a reason why many gamblers are enjoying the use of cryptocurrencies when it comes to gambling or any online transactions. Here are some great reasons why the use of cryptocurrencies can be beneficial.
- It’s Decentralized
Bitcoin and other cryptocurrencies like Ethereum, Litecoin, and Ripple circulate through blockchain technology. With blockchain tech, there is no need for anyone to be involved when it comes to the processing of transactions. This makes transactions end-to-end or direct. Since there are no middlemen in processing Bitcoin transactions, this makes its use generally cheaper as well compared to other types of payment methods.
- Safe, Secure, and Private
Many are choosing to use cryptocurrencies for safety reasons. All crypto transactions are encrypted and this ensures that no one will be able to access your information and anything that involves the transactions you make.
Whenever you need to send cryptos to another user or make a deposit to your gambling account, there is no need for you to disclose your personal and banking information. You can make anonymous transactions with Bitcoin which gives you privacy.
- Fast and Hassle-Free
This is mainly because Bitcoin and other cryptos are decentralized. No one needs to work on your transactions. This lets you avoid the need of getting your transactions approved like how it is with your banking account. Some banks do not allow gambling transactions or are at least strict about this. Sometimes, it takes a few business days for banks to process transactions, but with Bitcoin, any approval is no longer necessary. It’s all under your control. Just make sure that you always have the right wallet address to avoid problems.
Why Play at a Bitcoin Casino?
Convenience has always been the reason why people are choosing to play casino games online. Technology and the internet have made gambling more accessible and the use of Bitcoin in casinos could make your online casino gaming a lot easier and more convenient.
It is also generally cheaper to transact with Bitcoins. Fees are lower compared to using your credit or debit card. This is because online casino operators save money from not needing to get approved to accept Bitcoin payments. It’s why many Bitcoin casinos are also very generous with the bonuses and promos that they offer to their players.
How Can I Get a Bitcoin?
Know that Bitcoin is a currency and just like how it is with fiat currency, you just really need to convert your money into Bitcoin. You can do this through reliable exchange services like BTC-e, Kraken, or BItstamp. It’s also important that you have a cryptocurrency wallet where you can store your cryptos.
Currently, the value of a Bitcoin is playing around 10,000 to 11,000 US dollars. A smart move is to monitor the trend of its value. It’s always best to convert your money to Bitcoin if its value is predicted to go up in the next few days. This way, you get to maximize the value of your money.