Can You Use Bitcoin to Gamble Online?
Around ten years ago, when BitCoin was first released, it wasn’t worth much at all. This meant that some people bought into it and sometimes purchased thousands of units per time. If they held onto their cryptocurrency, today it’s worth over $10,000 per unit, making some of them millionaires from their investments.
Cryptocurrency has made its way into the online world in many ways. You can purchase a lot of things online using popular currencies, and the online gambling industry is one that accepts BitCoin. Most of the online gambling websites accept BitCoin for making online deposits and withdrawals, and this provides numerous advantages. The only problem that BitCoin brings to the online gambling world is that people still don’t understand it.
Trusted Bitcoin Gambling Websites
You should be careful when selecting a website that accepts BitCoin, as some are lower in quality and don’t offer the same benefits as the more binding sites. Websites like BetWay are one of the providers that support the online cryptocurrency, and they have a gargantuan loyal following. The All Star Bets Site also offers some great deals!
Other trusted BitCoin supported online gambling websites are;
- Guts
- All British Casino
- 10Bet Sports
These are considered amongst the top BitCoin gambling websites for numerous reasons. First of all, they’re all trusted sportsbook providers and wouldn’t cheat you in any way. The same cannot be said for all gambling websites, and that’s why you should only trust highly regulated providers with a vast amount of reviews.
Other factors that these websites have to include are a good range of different gambling activities, with good bonuses and rewards. These cryptocurrencies aren’t controlled by any of the world’s banks or governments; therefore, transactions can be made with complete anonymity.
Although you can use BitCoin to play on numerous online gambling platforms, you can also trade the currency for legal tender. Some people often take this approach if they don’t know how to change with BitCoin, or simply don’t feel comfortable doing so.
Additional Reasons for Online Gamble
- Complete Privacy – As mentioned above, cryptocurrencies aren’t controlled by world banks or governments, ensuring all transactions and withdrawals are entirely anonymous. Most BTC operators within the gambling sector won’t ask anything of you, making it useful if you wish to gamble in a state that hasn’t legalized gambling yet.
- Security – As everything is transacted through your Bitcoin wallet, no details are asked for by your operator. This makes it extremely secure and making it near impossible to be hacked by third party criminals.
- Promotions – Some of the much larger online gambling sportsbooks that offer bonuses and promo codes provide more massive amounts for BTC users. This amount of extra cash is much more extensive when compared to other currencies.
- Speed – As these transactions aren’t reliant upon a bank or governing body, the wait time is often wholly cut, making the transactions almost instant. This means when withdrawing currency, you won’t have to wait a couple of days.
- Low Transaction Fees – Providers that deal with Bitcoin and other cryptocurrencies tend to have lower margins and better odds. This is all down to their cost of development being substantially lower than traditional sportsbooks.
- Tax-Free – Of course, Bitcoin is Tax-free for now. This doesn’t mean that the government won’t start to regulate it and apply some form of tax in the future.