Cryptocurrency in Gambling
Cryptocurrency is the money of the future
Cryptocurrency is a virtual currency in electronic form. A completely new currency that appeared relatively recently, but has already gained popularity all over the world.
This currency has several advantages: it is not subject to taxation, it cannot be counterfeited, it is decentralized and the state cannot influence the issue of coins. Well, the main disadvantage is that no one can guarantee its liquidity. But, in spite of everything, the popularity of the cryptocurrency is not falling, but on the contrary, it is growing.
The era of cryptocurrencies begins in 2009, when bitcoin was developed by a Japanese programmer. Since then and until now, Bitcoin has been the leader in the e-currency market. In general, at the moment there are more than 1,500 thousand types of crypto coins in the world. Some disappear, others appear. Some states are even planning to issue their own cryptocurrency.
Of this huge number of “crypts”, there are the main leaders – these are Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dogecoin, Dash, Ripple, Monero.
Each coin is a cryptographic code that is generated using mathematical calculations. There are several ways to purchase and earn electronic money. There are sites that give away cryptocurrency for free – the so-called “bitcoin faucets”. But they hand out minimal amounts. It will take you many years to collect at least 1 bitcoin. A more efficient way, the most profitable and, at the same time, the most financially and energy-intensive way is mining. If you invest a decent amount of money in its implementation, then the income will be high.
To store cryptocurrency, there are electronic wallets that are downloaded to a computer or smartphone. After exchanging fiat currency for electronic, the wallet number is indicated and credited to it. You can also pay for goods and services using an electronic wallet.
Bitcoin in online casinos
The world’s first cryptocurrency has a number of advantages that make it so attractive in the eyes of players. First of all, this is that when making transactions in Bitcoin, a person does not need to indicate any information about himself. For example, a credit card number. This makes such operations completely safe. If earlier people, fearing for their privacy, looked for no deposit casinos so as not to shine with their credit cards once again, today Bitcoin offers a good alternative, allowing people to switch from playing candy wrappers to more serious things.
Another reason why the cryptocurrency began to spread in the halls of online casinos is that Bitcoin, alas, has not become a common currency – so far there are not so many places where you can pay with it. For casino players, this is just an additional place where they can spend the mined funds.
Now the number of casinos that allow their customers to use cryptocurrency as one of the deposit methods is not so much, but the situation will change over time, because the more popular Bitcoin becomes among ordinary people, the more demand for it in online casinos will be. But even today there are sites where you can hit a good jackpot by placing a bet in BTC, and some projects have gone even further and began to offer their players bonuses tied to Bitcoin deposits.
An important role in choosing a cryptocurrency as a payment method is played by the fact that withdrawing money to cryptocurrency wallets is many times faster than a bank transfer or even similar operations with old electronic payment systems.