Online gambling is one industry that relies on new and emerging technologies. One technology that is growing in importance among casino operators is blockchain technology, particularly the use of Bitcoin for payments. Released in 2009, Bitcoin presents itself as a decentralized currency that you can transfer from one user to the other. It is a cryptocurrency that eliminates the need for intermediaries such as banks and uses peer-to-peer computer networks and cryptography between users. Here, all transactions are reflected on public ledger records stored in servers.
Its decentralized nature and active participation of users help boost its popularity among online casinos. Now, you can find Philippine casinos that allow you to deposit and play using BTC. But before you step into the trend, we recommend that you check out first its benefits and advantages.
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Confidential Payments
One of the growing concerns among internet users is credit card hacking and other phishing schemes. It’s a problem that affects everyone with online accounts, even those who are already careful with their transactions. Bitcoin offers one way to solve this problem. If you want to play in an online casino privately, you can use Bitcoin as your payment method.
In Bitcoin transactions, you are not required to share your personal and bank information. All you need here are the Bitcoin wallet and the email associated with this wallet. This gives you more protection from potential internet fraud and theft. Since no personal information is attached, purchases and deposits in casinos are kept confidential.
Faster Transactions
A player’s casino experience often depends on how fast the payments are. And in most casinos, deposits are often processed within the day and withdrawals are completed in 1 to 3 days. For players who want to immediately enjoy their winnings, then this can be an issue. Bitcoin addresses this as it offers instant processing of both deposits and withdrawals. In some cases, your first withdrawal may take a few minutes or hours as part of the operator’s standard Know Your Customer or KYC policy.
Low Transaction Fees
Fees are standard charges in online casinos. With Bitcoin, the charges are minimal since it is a decentralized network. In most online casinos, your deposits are free of charge. However, withdrawals in some leading casinos come with transaction fees. Some operators may charge a fixed rate and others will impose a percentage of the amount requested. For example, a leading operator may charge a 2.5% transaction fee. But with Bitcoin, players can count on low transaction fees and if you’re lucky, you can enjoy it for free.
Bitcoin Is Not Subject To Taxes
Bitcoin digital cash is not regulated by the government. So, you do not get charged for taxes when completing your casino transactions. Your winnings are all credited to your account, and you can use this to play more or use it for other leisure activities and expenses.
Changing Rates
Another feature of Bitcoin is its price volatility. And if you’re a smart player and investor, you can take advantage of this feature when playing Bitcoin at casinos. In some casinos, you can earn BTC as a bonus or win this digital currency in some promotions and contests. Once you have earned enough digital coins, you can withdraw these and sell them in the market. With this approach, you don’t just enjoy and win in online casino games, you also earn in the investment of your BTC.
Fund Your Online Casino Account Using Bitcoin
Bitcoin is a popular digital currency and it’s now widely accepted in many Philippine online casinos. With Bitcoin, you can enjoy fast and secure transactions and collect bespoke bonuses along the way. If you’re after convenience and privacy, then you can consider Bitcoin as a preferred banking method.
Simply create a Bitcoin digital wallet and link it to your online casino account. Make sure your Bitcoin digital wallet is funded which you can do via bank wire transfer. You can also request somebody to transfer Bitcoin funds to your Bitcoin wallet. The key to maximizing the capability of this digital currency is to understand what it can give you.
Remember, sign up for a casino account with a trusted operator. Also, work with a website that allows Bitcoin as a payment and withdrawal option. Look for reputable and licensed casinos that accept players from the Philippines. Also, check for the availability of reliable and 24/7 customer support. Although Bitcoin transactions are fast and secure, you still need to work with an operator that offers responsive support in case of technical problems.
If you are interested in even more entertainment-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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