5 Benefits of Playing in Online Casinos with Bitcoins

We've come a long way since the first Bitcoin was released. It's dumbfounding that the first person to use Bitcoin spent a whopping 10,000 coins to purchase a pizza at Papa John's.

Now, you can use Bitcoin to purchase anything online. What’s even more impressive is its applications in the online betting space. With even more cases of privacy rising, gamblers are turning to Bitcoin gambling sites for a solution.

If you're still on the fence about jumping on the crypto betting bandwagon, here are five reasons you should play online games with Bitcoin.

1. Added Privacy

Online privacy is one of the leading global concerns, with 85% of American adults looking to do more to protect their online privacy. Societal bias around gambling is so prevalent that most people go to extreme measures like using VPNs and clearing their browsing history just to mask their activities.

The good news is that cryptocurrencies like Bitcoin run on blockchain networks that provide complete anonymity with nearly untraceable transactions that protect your identity.

2. Enhanced Security

An estimated 53.35 million people in the US were affected by cybercrime in 2022, and that's only in the first six months of the year. Now, imagine if your online betting site gets hacked. In such a scenario, all the data the site has on you, including your name and credit card information, is at risk.

Fortunately, that's not the case with Bitcoin. If you keep most of your coins in cold storage, avoid insecure online wallets, and secure your private keys with strong passwords, you don't have to worry about anyone stealing your money or identity.

3. Increased Bonuses

Bitcoin transactions are significantly less costly to process compared to regular fiat currency. There are no middlemen in cryptocurrency transactions since the transactions are end-to-end. This means that crypto casinos have more money to spend on bonuses and other incentives.

4. Instantaneous Transactions

Imagine winning a sizable sum in online betting and waiting days to get your money. Such is the case with many online betting platforms that use fiat currency. These platforms often have strict requirements that require manual validation and third-party involvement, which, unfortunately, takes a lot of time.

With cryptocurrencies like Bitcoin, there’s no need for manual validation or third-party involvement. All your transactions are processed directly on the blockchain, allowing for instantaneous deposits and withdrawals.

5. Decentralization

The past few decades have seen a significant increase in bank accounts closed or frozen without warning. There’s also the issue of banks using your gambling habits against you when trying to secure a mortgage.

Bitcoin, like most cryptocurrencies, is decentralized. This means that all transactions go directly to the participants without third-party involvement. Therefore, you have total and absolute control over your funds, and nobody can touch them, let alone see them.

Final Thoughts

Cryptocurrency betting has changed online gambling, and the stakes for future possibilities are even higher. Now, you don't have to worry about your identity being stolen or anybody accessing your transactions with online casinos. What we have discussed is just the tip of the iceberg—there's more to gain with betting at online casinos with Bitcoin.