What About Gambling With Bitcoins?

bitcoin-playHave you ever bought anything with bitcoin? How do you feel about this cryptocurrency? Besides the fact that this virtual currency appeared just few years ago, in 2009, its popularity has grown enormously. Those who bought bitcoin in 2009 increased their capital noticeably. If in 2009 1300 bitcoins cost $1, in 2013 people paid over $1000 for 1 BTC! Then the price decreased. In 2016 the price ranged from $450 to $750 for 1 bitcoin.

Opinions on Bitcoin

Bitcoin.org says: “Bitcoin is an innovative payment network and a new kind of money… It uses peer-to-peer technology to operate with no central authority or banks.” Whilst some consider bitcoin great invention giving big possibilities, others see malice in this new currency.

If it could become a global currency, bitcoin would eliminate the need for exchanges, thereby making world’s commerce easier. It can increase efficiency, reduce transaction costs, and ultimately reduce costs for the end consumer. Due to the fact that Bitcoin isn’t controlled by a central bank, the risk of manipulation from authoritarian governments reduces.

However, since bitcoin has only been around since 2009, skeptics say it’s neither time-tested nor stable. But some believe that the bitcoin blockchain could disrupt existing payments.

Bitcoin As Depositing Method At Online Casinos

Many virtual gambling establishments across North America accept bitcoins. US and Canadian casinos online offer better conditions to those players who use this virtual currency. There are different bonuses attached to this way of payment. More than that, bitcoin users may request one withdrawal per three days while those who use other payment methods can do this once a week.

This electronic cash is safe, reliable and fast. It’s perfect for use at many casinos. If you are going to use it you have to start by creating an account with an online wallet. There are different wallets that you can find at Bitcoin.org. Then choose an exchange to get Bitcoin (there are many options available). To get your cash is very easy. Simply transfer your money from your Bitcoin wallet to your debit card or sell it for cash using an exchange.

So you see bitcoin has several advantages when gambling online, as follows:

  • It’s fast;
  • It’s transparent;
  • You can make more withdrawals;
  • It’s safe;
  • It’s simple.

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I'm Jordan Gate, the editor at Netbet.org. Connect with me to stay up-to-date with what's going on in the gambling industry.