How BTC and Crypto Assist the iGaming Sector in its Development
The world’s largest cryptocurrency completely changed the way we look at finances and it introduced plenty of innovations and advantages. With the advent of Bitcoin and other cryptocurrencies, the concept of online gaming changed as well. The popularity of online casinos working with cryptocurrencies, mainly BTC, continues to grow every day. Some gambling sites conduct transactions exclusively in bitcoins and provide a registration bonus, others use traditional currencies for mutual settlements, and BTC acts as an addition to the main payment instruments. In the following article, we will have a look at how crypto managed to turn the whole gambling world upside down.
The Appearance of First Bitcoin Gambling Sites
The first online casino offering payments in Bitcoin appeared in 2013. Of course, even back that time Bitcoin was not as popular as it is now and not many people started to use the following payment method. Even crypto casinos were focused more on traditional payment methods. However step by step more and more gambling sites appeared, offering the customers the possibility to play different games with Bitcoin. Players were able to try out slots, online live roulette, poker, blackjack and plenty more games with the help of Bitcoin.
It was a real breakthrough because fiat money was so dominant, it was not even anticipated that the latter would have competitors. However, Bitcoin shattered trends and quickly turned out to be one of the most popular methods - both for playing and payments.
Advantages and Features of Crypto in Online Gambling
An online casino that is focused only on cryptocurrency, has a number of advantages, including:
- High efficiency of payments;
- Lack of limits in mutual settlements;
- Anonymity and the ability to conceal income from regulatory authorities;
- Control of the honesty of gaming processes in a unique way (open blockchain);
- No problems with withdrawing money and making deposits, as well as a minimum commission for transfers;
- High security of transactions;
- Chances of winning, even if you lose in a casino (due to the "floating" rate);
- No verification required.
All these can be called a real revolution in the world of online gambling. We would like to draw particular attention to the last point. Crypto casinos are, as a rule, anonymous institutions, where verification is not always a mandatory requirement. In a bitcoin casino, players get everything the same as in a regular online casino, the only difference is that a crypto casino provides additional protection for players without asking for information about the client's personal data and bank account.
The Future of Crypto in iGaming
If you are looking to enter the forex market and use Bitcoin, you need to remember that this is a fictional virtual currency, not real money.
To make money with cryptocurrency, the price of this speculative asset must rise. If the hype dies down, so will demand, and prices are expected to fall sharply. Therefore, it is important for speculators to constantly attract new investors in order to maintain stable demand.
While the cryptocurrency is gaining traction and the number of users is growing, there are some experts who believe that the bubble will burst in about three years, believing that the main obstacle is the limitation of bitcoin transactions that prevents the cryptocurrency from developing.
However, Bitcoin and cryptocurrency, in general, have been hitting all records for a long time and its popularity is not decreasing. It is also clear that not only individuals or small companies, but even giants like Tesla and MasterCard are ready to accept it. When we talk about online gambling – perhaps one of the most popular industries in the world, it is a real revolution.
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