Bitcoin has become favorable and popular to be used as a form of currency for playing online at the casinos.
Get your head around all the jargon and tecky info with this insane Bitcoin infographic.
Using Bitcoin to Play on Online Casinos
During the last couple of years, the online casino market has been going through an evolution, with more and more Bitcoin-based casinos joining the gambling marketplace. The reasons behind this change are numerous, yet understanding them can be quite easy. In a recent infographic published by the folks behind Bitcoin Play, readers can learn more about bitcoin as a digital currency, but also better understand the reasons why so many bitcoin casinos have appeared.
Understanding the popularity of Bitcoin casinos
To kick things off, one of the main reasons behind this trend is anonymity, which is now a possibility thanks to bitcoin, which doesn’t require any personal information whatsoever in order to conduct transactions. Therefore, this added anonymity allows players throughout the world to equally enjoy the entertainment brought forward by online casinos, even in countries where betting real money on is prohibited. Therefore, for these people, bitcoin represents a great solution, considering the fact that there is now a good number of casinos which accept bitcoin, and of course, do not solicit any personal data from its players. This essentially allows people throughout the world to bypass some of the laws that restrict them from gambling on the internet, and hence enjoy their freedom!
Apart from this aspect, one of the other main reasons behind the popularity of bitcoin on online casinos is the fact that it makes everything cheaper and faster. Transactions are confirmed within a couple of minutes, and transaction taxes are considerably smaller when compared to traditional payment providers.
Using Bitcoin to gamble online
When it comes down to playing for bitcoin for the first time, the first step that you should take is getting your hands on some of the digital currency. To do this, simply access an online exchange, and convert some of your fists into bitcoin. The process is almost instant, whereas the costs are close to 0.
Once you own some bitcoin (feel free to choose any denomination- you don’t need to buy an entire coin), simply look for a well-reputed casino that also accepts bitcoin payments. Once you’ve found your choice, proceed to deposit any amount, wait for the one-confirmation requirement (if applicable), and then gamble just like you would on any other casino
Once you’ve earned enough, you’ll simply have to click on withdraw, enter your bitcoin address and the amount of money that you want! The servers will quickly process your request- most of the times, you can access your withdrawn funds within a couple of minutes.
Many tend to stay away from this market because bitcoin gambling sounds complex at first, yet with a bit of understanding, it becomes easier than dealing with traditional currencies.
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