Bitcoin (BTC) is the most well-known and relevant cryptocurrency in a market with hundreds of alternatives. As an online casino player, you may have already heard of it because BTC is easily convertible into fiat money (normal currency like USD or EUR) and vice versa. Using Bitcoin for transactions has several advantages over cash or card payment methods, so this article will explain them to you.
But is it safe to use crypto for gambling? First of all, be sure to choose only reliable casinos like joo-brazil.com. The use of blockchain technology makes it infeasible for anyone to hack your digital wallet and steal your Bitcoins – so players don’t have to worry about losing funds through fraudulent activity when making transactions on casino sites that accept this method of payment.
1. Handling fees are almost non-existent
Although handling fees might seem negligible when transferred from player to casino, they can add up significantly if your winnings don’t get paid back to your account immediately after leaving the casino’s sportsbook. This happens often due to slow processing times from some betting sites, but the problem doesn’t exist when using Bitcoin.
There are no fees at all if you decide to pay with BTC, so your winnings will be added instantly to your wallet instead of being held by the casino until additional payment details are provided or sent back to you. This can save you a lot of trouble in case there are reasons for wanting to keep anonymous while playing online casino games. Even when withdrawing fiat money from your account, typically high transaction fees apply if done manually! With Bitcoin, this is not necessary either, since all transactions can be completed in just one step once both parties have agreed on the payout amount.
2. Your personal information stays safe and hidden
If privacy is important for you when playing casino games, then Bitcoin might be the way to go to stay anonymous while making any kind of transaction. The same applies to account registration – you can always use various anonymizing techniques to create a new player profile at the casino under your real name or online nick, which shouldn’t reveal too much about your true identity even if it gets linked with BTC wallet addresses eventually.
There are some cases when casinos might ask for ID verification before allowing withdrawals, so you better do your research beforehand. Also, this type of digital currency isn’t tied to any bank or credit card company like other payment methods but is sent directly between players and casinos without the involvement of third parties (although mining fees might apply).
3. Instant payouts no matter how big the sum
If needed, you can get your BTC winnings from the online casino’s sportsbook in just a few clicks. No matter if you won big and want to withdraw the entire amount, or won small and would prefer getting paid out immediately – your payout can be completed in less than an hour. In comparison, all fiat money transactions take much longer because they have to follow certain procedures before going through which typically takes up to a few days.
4. Easily accessible from anywhere
Unlike using a credit card or other payment methods, Bitcoin is available everywhere around the world thanks to its decentralized nature, which means there are no borders when it comes to accessing it at any time as long as you have an Internet connection. This great advantage might not seem that important for those who stay at home most of the time, but it’s an edge over card payment methods in case you prefer to play at offshore online casinos while travelling.
5. Playing with BTC can be more profitable than using cash
Since Bitcoin is known to have a fixed monetary policy unlike any other currency, its value is naturally expected to rise over the years instead of losing its worth like fiat money usually does after some time. This has been true for BTC throughout its history, which means that betting with this type of cryptocurrency – especially when you use high odds on long-term bets – might be more cost-effective in comparison to playing the same bets while using traditional currencies where transactions costs are involved.
Note: Although all transactions between players and casinos are completed without any fees, casinos might add a small percentage fee to the payout amount during manual transactions (but not automatically). Since BTC value is expected to rise over time, betting with this type of currency might be more profitable than using any other payment method due to the lack of transaction costs.