Bitcoin and other cryptocurrencies have changed many online industries for the better. One of them most certainly is the world of internet gambling. Plenty of websites have adopted BTC and other coins. You can learn how to use Bitcoin for online gambling in minutes, so let's look at the main reasons why you should do it.
Speed of the Transactions
Using most of the traditional payment options for online gambling can be slow. The withdrawals with credit and debit cards, for example, take at least several working days to process, sometimes up to a week.
If you decide to trust Bitcoin instead, your money will reach you within a day or two. That's much faster compared to most of the other banking methods. Only e-wallets like PayPal and Skrill can compare with BTC.
Most Bitcoin gambling sites on the internet cover all the transaction costs on behalf of their customers. Even if that's not the case, the fees are low. Every deposit and withdrawal with the cryptocurrency is cheap, while there are some costs for most of the other options.
Huge Bitcoin Promotions and Bonuses
Bitcoin transactions are easy and convenient for online gambling sites as well. That's why many of them are offering additional incentives to the players to use crypto. You will often see special BTC bonuses that are larger than the standard deal of the bookmakers, casinos, and poker rooms. That provides extra value for Bitcoin transactions.
Privacy and Decentralization
There are pure Bitcoin gambling sites that won't ask you to add any personal details. You simply need to send the money to the address they provide and that's it. That allows you to stay private at any given moment and is especially useful for countries with restrictive online gambling laws, such as the USA.
A lot of Americans can play in offshore gambling sites thanks to Bitcoin, since the government is actively blocking other payment providers.
If you use some of the traditional payment options in the online gambling world, you might very well be forced to declare your winnings and pay taxes to the state at some point. There's no such risk if you go for Bitcoin.
Provably Fair Games
Some of the Bitcoin gambling sites are using the blockchain technology behind it to create the so-called "provably fair" games. It's a transparent way to generate the random outcomes for each product that sends an encrypted piece of the information to the users. They can then use it to confirm that the games are fair, once the current round is finished.