If you’re a techno-enthusiast who stays on top of the biggest developments in digital currency, then chances are you’re a big fan of Bitcoin. From humble beginnings, this cryptocurrency has gone on to have an enormous worldwide impact. Of course, if you’re reading this website chances are this is old news.
What is less known is that some services that use Bitcoin are left unexplored. In this case, we talk about Bitcoin gambling. Despite being a perfect fit, Bitcoin online casinos can be hard to find, so we want to help guide our readers to the right choice. So where can you find these casinos, and what sets them apart from their fiat cousins?
The Best of the Best
Luckily for us, the best Bitcoin gambling sites can be found through dedicated Bitcoin websites such as bestonlinecasino.com. This is so important due to the special security concerns which Bitcoin creates. Bitcoin transactions require special protection, and review sites like this make it their business to examine safety features and narrow down the best choices which the web has to offer.
This website also covers some of the most important information which users need to know about Bitcoin, to ensure that newer users can go about their business as efficiently as possible.
How Are Bitcoin and Fiat Casinos Different?
As a cryptocurrency, Bitcoin’s worth does not come from the economic performance of any one country. Rather, the value of a Bitcoin is derived from its rarity and the total state of the market. Of course, we do assign value by measuring it against existing fiat currencies, such as with our currency calculators available at bitnewsbot.com. As for how these differences are illustrated, these appear on a few key fronts.
Perhaps the biggest difference between fiat and Bitcoin casinos is that of software choice. Fiat casinos tend to be the older ones around. While not always the case, this can make their game selection stagnant. Some of these casinos don’t bother to update, instead relying on older offerings.
Since Bitcoin casinos are newer, they can avoid this problem and give access to more recent and exclusive games. This creates the potential for a fresher selection which is further bolstered by Bitcoin-specific games, like the Satoshi’s Secret slot.
Guiding the explosive popularity in Bitcoin has been its commensurate explosion in value. In the early days of June 2010, a single Bitcoin was worth around US $0.08. Today, a single coin is worth around US $9,250, as our market cap guide shows at bitnewsbot.com.
According to a report by investopedia.com, a $100 investment in 2011, when the price per coin was a much higher at $4.72, would have appreciated to around $1,200 total at today’s rate. That is not to say the market is entirely steady, not at all, but the overall growth has been as strong as it has been undeniable.
This level of potential appreciation is what renders the act of gambling on fiat currencies and Bitcoin so so different. Any fiat currency you win while gambling is going to keep a fairly steady worth. A Bitcoin win, on the other hand, comes with the potential for future growth. In essence, this can add another layer of gambling to the equation.
Safety and Speed
Bitcoin, when properly managed, can be far safer than the traditional fiat alternative.
One of the more common examples of this is how digital wallets operate. As a common means of deposit and withdrawals, these play an immensely important part.
For fiat digital wallets, a hacker can gain access through the right username and password. Two-factor authentication can help protect against this access, but the issue is still there. There are some Bitcoin wallets, however, that avoid this issue. Bitcoin hardware wallets can be disconnected from the internet entirely until needed, which is why some like the ones we examine at bitnewsbot.com are so popular. In other words, if you aren’t connected, you can’t be hacked.
This is further aided by the anonymity which is inherent to Bitcoins. This means that Bitcoin transfers can be performed with zero chance of hackers intercepting important personal data.
The final component of these advantages comes down to speed. Bitcoin transfers are often instant, or close to it. As even the fastest forms of fiat currency transfer for online casinos take 24 hours, this is an obvious advantage. Compare this to the 5-10-day wait users often incur when using bank transfers and the difference becomes all the more pronounced.
A Developing Industry
Just as with other industries such as the real-estate offerings with bitcoin-realestate.com, the online casino Bitcoin game is still in its relative infancy. Despite this youth, however, it is becoming a rapidly more common choice.
No other modern forms of online currency have had the raw impact which Bitcoin has had. This isn’t just for niche areas, as it applies to the entire financially connected world. From online casinos to credit card systems like bitpay.com to the ability to buy computers, homes, food, and travel tickets, the Bitcoin market is only on the rise.
Since online casinos are an industry better suited to this cryptocurrency than most, don’t be surprised to see an enormous growth of the online Bitcoin gambling market within the next few years.