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When it comes to hard-earned money, many people hesitate to use the same for gambling. Also, online casinos do require a good amount of money spent on gambling in order to provide good returns. However, if one has idle reserves of a cryptocurrency like Bitcoin lying in a wallet, it can be used safely to dabble in online gambling.
Pros and Cons of Gambling with Money
Gambling has been frowned upon by many, especially when they realize that they often lose more than what they put in. Also, in the beginning, there were spurious sites, claiming to offer good returns and guaranteed profits. Many simply disappeared after taking money from the customers. Today the situation has changed. Licensed and regulated sites make gambling a transparent and secure experience for all.
Advantages are many:
- Line-up of a variety of casino games such as slots, table games, craps, poker, sports betting.
- Attractive welcome packages with bonuses and free spins.
- Cash-back offers and prompts withdrawal options.
- Loyalty programs with comp points for wagering on games.
Cons are few:
- Some casinos include stringent wagering terms on bonuses.
- Easy casino games are the least profitable.
Security Concerns
With gambling online having become secure, transparent, and fair at most licensed sites, many people are willing to take part in the same. However, licensed sites require customers to provide valid information about their identity. They also require them to provide details of a bank account or credit card number by which they will make payments. That is where security concerns come in. Though encryption technology of the latest standards is put in place at most casino sites, a more secure way to transact would be via eWallets such as Bitcoins provide.
How Transactions with Bitcoin Takes Place?
This is a digital asset and a currency that does not change hands via bank accounts or credit card accounts. Indeed encrypted algorithms protect such transactions where digital ledgers hold proof of transactions. Indeed, the use of Blockchain methodology lends anonymity and encryption to every transaction that takes place with cryptocurrencies. Hence, they are a more secure way to make payments, especially in the online world.
Getting hold of Bitcoin is possible only through mining or if you purchase from dealers. Also, this cryptocurrency is of high value and with standard fiat currencies, you can only get hold of a fraction of the same. Once you purchase Bitcoin, you get to hold them in a secure electronic wallet. There are unique links provided for making transactions via the wallet. In all such transactions, users remain anonymous. Their holdings secure in the wallet, with layers of encryption in place.
Making Payments at Casinos with Bitcoin
When you register at a BTC casino, you have the option to make deposits and withdrawals with Bitcoin. After your account is validated, you can proceed to make payment through the cashier section in your account.
- Once you click on Bitcoin as the payment mode, you would be asked to key in your wallet details.
- Once you place your wallet address, simply specify the amount you wish to deposit.
- Once specified and confirmed, the transaction takes minutes to execute.
Indeed, there is no disclosure of bank account details required or any card number details. You also need not disclose your name or any other confidential information at the time of processing your payment via a cryptocurrency wallet.
Withdrawals are as easy and secure. For instance, at the time of seeking withdrawal, simply key in the amount you wish to withdraw. After that, key in the wallet address link. That is all you need to provide in order to get your winnings into your Bitcoin wallet. Once the funds come in here, you will have increased holdings of a precious cryptocurrency.
Benefits at Bitcoin Casinos
Casinos such as Bitcoinbuster.com that welcome cryptocurrency usage also make it welcoming to the members. For instance, they have exclusive welcome package offers that members can take up. This enhances their account balance and the money they have to wager on different games.
What’s more, the more you spend on games the more you get comp points and loyalty privileges. There are also weekday and weekend offers that members can avail of. These comprise cash-back offers to compensate for losses. Again, you can also claim to reload bonuses every time you make fresh deposits at your casino account.
Conclusion
Bitcoin casinos are increasing in number as cryptocurrency is being recognized as a safer medium for payments online. It also brings the currency into circulation and helps the currency holders make more of this currency. With membership points and benefits to gain, many casinos are wooing Bitcoin and other cryptocurrency holders today. As a result, it is sure to become a popular currency to use in a secure way in online gambling domains more in the future.
