There are many online casino games available today but no one can deny that live dealer games have a different charm where you get to play against real live dealers who can give your winnings instant gratification! These websites do not require any deposit before playing their bonuses or promotions which makes them attractive enough to play. Bitcoin is the first and most well known digital currency in the world, and some people love to trade this coin for other currencies or real money. So what are the advantages of gambling with bitcoins? Read on to know more about it.
What is Bitcoin
Bitcoins are peer-to-peer digital cash equivalent to gold (it can’t be printed) so its value is based on supply and demand. The bitcoin network has been designed to ensure that every bitcoin is created with a finite amount. There are currently around 12 million bitcoins in circulation and their total maximum supply is limited to approximately 21 million. But the market price per bitcoin can fluctuate wildly; sometimes rising dramatically, sometimes falling sharply. It’s important to understand this concept since it will give you insight into why Bitcoin was originally created and how it can help you stay safe while playing.
Advantages of Gambling with Bitcoin
More Security
Bitcoin payments don’t require an account like bank transactions. This means that you cannot be traced if you lose your wallet files or accidentally forget your password. In addition, Bitcoins are stored locally so they cannot be accessed remotely by hackers. Although there have been some hacking incidents in bitcoin casinos, they haven’t been able to hack into Bitcoin wallets. Therefore, there is minimal risk of losing your funds when you use Bitcoins for purchases and withdrawals. You also get to keep your information private as well because all the information can only be seen by you and no one else.
No Restrictions
As compared to traditional casinos, using Bitcoins in online casinos does not limit you in terms of country, state, time, or age restrictions. It’s totally up to you whether you want to gamble or not, as long as you are over 21 years old. Also, since Bitcoins are anonymous, you don’t need to reveal or provide sensitive personal information like your address, phone number, email address, full name, etc.
Not Subjected to Taxes
Although many countries impose taxes on gambling, these taxes will not apply to you while you’re gambling digitally. Some governments even promote Bitcoin, believing it to be a safer alternative to fiat currency. This means that if you use Bitcoins instead of dollars, then there won’t be any government-imposed taxes or fees. Also, the profits from gambling with Bitcoins go directly back into the system rather than being taken away by taxes and taxes alone.
You Can Gamble Anytime
Unlike brick-and-mortar casinos, online casinos allow gamblers to place bets at any time of the day or night without having to wait until the next business day. If you want to bet on sports, you can do it right now. If you want to play poker, you can do it whenever you feel like doing it. There is no restriction on how much you can spend on gambling either.
Easy To Use
Gambling with Bitcoins is easier than ever. All you need to do is download the software and register your account. Then, you’ll be ready to start betting. No matter what kind of game you choose, you can easily access it through the website. You can also make deposits and withdrawals using Bitcoins. However, you should note that there might be transaction fees associated with each withdrawal.
Better Quality Gaming
The quality of gaming is better in online casinos than in physical casinos. Since everything happens online, you don’t have to worry about distractions such as loud noises, smoke, and crowds. Also, you don’t have the pressure of dealing with other players, which makes the experience more relaxing.
Bitcoin Allows Anonimity
If you wish to remain anonymous, then you can gamble anonymously with Bitcoins. Unlike credit cards, there is no way to identify who owns Bitcoins. Thus, you can gamble without worrying about others knowing about your activities.
More Convenient and Faster Payments
When you deposit money with a credit card, you usually have to wait for days before getting your winnings. With Bitcoins, however, you can receive your winnings immediately after making a successful deposit. Also, unlike with credit cards, you don’t have an option to withdraw your winnings in small amounts. Instead, all transactions must be done in one lump sum.
More Secure Transactions
Since Bitcoins are completely anonymous, they offer greater security when compared to credit cards. In fact, some people actually prefer to use them because they think they add extra protection against fraudsters. Also, because Bitcoins aren’t connected to bank accounts, their owners cannot be held liable for fraudulent charges. A Bitcoin wallet works just like your checking account. So, all your Bitcoins are stored inside and nothing else.