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Cryptocurrency and online casino

Cryptocurrency and online casino

Almost everyone already knows about Bitcoin and its origins. How in 2008 a man named Satoshi Nakamoto published a paper about a whole new currency, which wouldn’t have any ties to any government at all. Which would herald a whole new concept in the ways that transactions could be carried out quickly, securely and anonymously. Nevertheless, it can be used to buy all kinds of goods and services, withdraw funds abroad, and invest money. But Bitcoin is far from the only game in town and new cryptocurrencies seem to be popping up on a virtually weekly basis many, no doubt, hoping to simply jump on the bandwagon and make a quick profit for their originators. However, what is yet to be introduced is the option to pay using cryptocurrencies at any of the longer established and market-leading online casinos. This doesn’t look like this is going to change any time soon, as the UK Gambling Commission currently forbids it because of concerns over money laundering and supporting terrorism – which some accuse Bitcoin of supporting. That’s why when you look at the 888casino accepted payments, you’ll see that despite welcoming upwards of 30 different deposit methods, cryptocurrencies aren’t among them.


How can players benefit from cryptocurrency?

-Very rarely there is a commission or not one at all.
-Total anonymity for both users and transactions.
-Casinos who do work with cryptocurrency offer players much more advantageous bonuses.
-Access to entire transaction history.
-The principle of Provably Fair allows being sure that the casino is honest with players. Every game and every bet can be checked.
-Requests are instantly processed for account replenishment or fund withdrawal.
-Players’ winnings are more secure.
Those are some of the reasons why online casinos using cryptocurrency can be beneficial to the players: it’s all about speed, reliability, safety. But are there any benefits for online casino owners?


Why should online casino operators switch to cryptocurrency?

-No extra expenses with fund conversion.
-It takes less time to open an online casino with the only cryptocurrency.
-Cryptocurrency users in online gambling will only increase.
-Opening Bitcoin-casino costs less than a traditional casino.
-Since the number of specialized casinos is less than conventional, competition among them is lower.
-Cryptocurrencies are a lucrative alternative for societies with an unstable or stagnant financial system.
There is one potential risk with cryptocurrency transactions, and that is non-recognition and prohibition by the world’s central banks. Working with cryptocurrencies eliminates many inconveniences associated with the use of fiat money and substantially reduces time costs. Cryptocurrency should be related to online casinos in the future. But in the end, it’s up to you if you choose to work with cryptocurrency. The global trend is speaking in favor of Bitcoin, that it will quickly replace any currency in the matter of decades.
Will you join that system?


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