The online gambling industry evolves nonstop. Gambling companies keep finding ways to make their customers’ gaming experience level up. This is why they always make sure to implement the latest technologies. One of the cutting edge achievements is blockchain technology.
It’s mainly presented in the online gambling industry in the form of using cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, and others. Crypto gambling is becoming more and more popular. That is why most reputable gambling sites are now accepting Bitcoin and other digital coins.
Bitcoin gambling is incredibly popular at the moment. We’d like to teach you how to use Bitcoins for online gambling in top paying online casino NZ in a safe and cost-efficient manner. What makes Bitcoin so appealing for gamblers? First and foremost, it’s almost complete anonymity of transactions. Unfortunately, this feature has made systems quite intricate. At the same time, it’s absolutely secure. The process looks daunting, doesn’t it? Thus, our aim is to address all your concerns for this matter.
The Things to Know about Cryptocurrencies
As you can read at https://en.wikipedia.org/wiki/Cryptocurrency, cryptocurrency is a digital currency that runs on blockchain technology. It can be used in any online transaction, including the activity at a blockchain casino. All transactions made with crypto are recorded and stored in decentralized ledger systems. Actually, we are talking about databases that can’t be manipulated. Decentralization means that transactions are end-to-end.
The most known cryptocurrency is Bitcoin. Since 2009 when it was released, many other cryptos have emerged, including Ethereum, Litecoin, Doge, Ripple, and Bitcoin Cash. However, up until today, Bitcoin remains the most popular.
Which industries use cryptocurrency? It’s widely used in the gambling industry as well as for e-commerce and gaming. Since more and more people show a huge interest in buying cryptos, they are seen as a future of online transactions in general.
How to Use Cryptocurrency for Gambling?
Since cryptocurrency was made available to the general public, it didn’t take much time for the casino industry to assess its potential. It was one of the first industries that started using it widely. Today, hundreds, not to say thousands of online casinos accept crypto as a payment method. There are even online gambling sites that serve crypto users only.
There are many reasons why online casino players are shifting into gambling crypto games. Take a look at the main ones.
By playing at an online casino Bitcoin friendly, gamblers can now deposit their gaming accounts without providing any of their personal information. The overall process of depositing onto your favorite online casino consists of three easy steps:
- Open a Bitcoin wallet account
- Fund your account
- Use your wallet to deposit onto the betting site
When you make such a transaction, all you need is a wallet address and / or the tag of the account destination. As you can see, it doesn’t require disclosing any personal and financial details for making deposits to the casino accounts and start playing Bitcoin gamble games.
2. Safety and Security
Since Bitcoin and other cryptos run on blockchain technology, transactions are easy to monitor. Players can send money directly to the casinos that accept Bitcoin and it is possible to do without intermediaries. No one can make changes in the ledger system and that is what makes it safe. However, it’s worth it to make sure that you are sending money to the right wallet address.
Is crypto gambling legal? Yes, they are legal in countries where online gambling is legal as well. In general, it’s simply convenient to use cryptocurrencies for online gambling purposes. It’s also a great way for gamblers to keep their accounts clear from gambling transactions. The thing is that in some countries like Ireland, people won’t be allowed to take loans if their bank account has been involved in a gambling transaction. Therefore, using Bitcoin gamble sites is simply a better option for them.
Why Crypto Gambling is Getting More Popular
It would be no exaggeration to say that the use of cryptocurrencies is seen as a future of online transactions. This is also a great chance for the gambling industry. Analysts predict that online casinos that accept Bitcoin will heavily rely on cryptos in the near future. The main reason for online operators is that crypto transactions are much cheaper to process because there are almost no service fees.
The number of crypto users is also rising at an exponential rate. This is especially true today when Bitcoin’s value is rising once again. And one of the main winners of this rising is crypto gambling!
Before 2022 ends, Bitcoin will be able to surpass its all-time high since 2021. In 2021, its highest value was at around $ 61,000 US. This year, it’s all-time high was at $ 46,200 US and this happened in April.
Currently, Bitcoin’s value is playing around $ 25,000. Many consider this dip as a sign that it would still be able to beat a former all-time high before the year ends. Some are even predicting that it could be up to $ 100k by the end of this year.
Such volatility is keeping people intrigued on a daily basis. Now it’s about whether or not it peaks once again. That is the way how digital gambling coins have gained millions of users. There is now more Bitcoin circulating for people which would like to use it for online gambling.
Whether or not you have heard of cryptos before, you surely have read about Bitcoin. On the surface, using cryptos at a Bitcoin gambling site sounds complex. But in reality, it is not difficult at all. Cryptos provide a new revolutionary way of moving funds all over the Internet in a safe, cheap, quick, and cost-efficient manner. As a hybrid type of money and commodity, Bitcoin trades 365/24/7 on Bitcoin exchanges all over the world.
One must agree that this is a virtual gift from the gods when it comes to the blockchain gambling realm. This is especially important for players from the USA. In practice, Bitcoin is “digital money” that you can exchange at any time for any real-world currency.
If you are one of those who have heard about Bitcoin before but were too intimidated to start using it, hope we’ve addressed your concerns! With this simple guide, you hopefully can buy and sell Bitcoins with little effort. Once you have Bitcoins on hand, you can use them to gamble at the cryptocurrency casino sites.