With the growing number of online casinos, generous welcome bonuses are becoming more common. Bitcoin casinos are offering 2 Bitcoin sign-up bonuses. At today’s bitcoin exchange rates, this would be around $96,000.
Bitcoin is becoming more acceptable as a payment method, and casinos have become early adopters of Bitcoin payments. Bitcoin casinos are growing in popularity because of their lucrative incentives. You can access free casino games and big bonuses in these casinos. Why should you play in one?
Faster Deposits And Withdrawals
Bitcoin transactions are fast, taking less than 10 minutes. Some casinos require only three conformations to approve a deposit. It is faster than a bank transfer or money wire. The same applies to withdrawals. There is no intermediary in the transaction, which improves the speeds.
Cheaper Transaction Costs
Cryptocurrency transactions are low because there is no middle processor. The transactions are handled in a peer-to-peer manner. Each node communicates directly with the other while the transaction is broadcasted on the registration and confirmation network.
Transaction costs can eat into your profits if you are an active player. Some payment methods such as money transfers can charge over $50. But bitcoin transactions cost less than $20 in transactions over $50,000.
More Secure Transactions
Bitcoin’s strongest advantage is in its security. The Bitcoin network is decentralized. It means that one section of the network’s failure does not affect the operation of the whole network. Each computer in the network maintains a register of the transactions. It is impossible to change the transaction ledger because the rest of the network will invalidate the changes.
Cryptocurrencies are very secure because the transactions are broadcasted transparently for all people in the network to verify. The Bitcoin network uses cryptology in deploying security, making it safe from hackers.
The only vulnerabilities are on the user side, which can be mitigated by employing sound cybersecurity practices like strong passwords. While Bitcoin is a transparent ledger, it is impossible to tamper with the ledger.
More Transparent Dealings
Bitcoin casinos are employing Provably Fair gambling algorithms to make betting more transparent to the customers. The casino provides a method of verifying different transactions for fair gaming practices. More casinos are adopting this transparency, which lends credibility to gaming.
Higher Privacy For Gamers
Sometimes you want to keep your online activities anonymous for security and other reasons. Some countries do not allow online betting, and bettors could be liable to different penalties. Other countries apply burdensome taxes on gambling wins.
Bitcoin transactions are anonymous. It is possible to inspect the ledger, but it is impossible to know who is making the payments. Some online casinos have taken anonymity to the next level, requiring only account numbers. Players remain anonymous such that even unauthorized access to the customer database cannot unmask the user.
More Lucrative Bonuses
Bitcoin casinos offer the highest incentives in the gambling industry. Typical welcome bonuses go as high as 150% of the first deposit. Here is a real example of a welcome bonus running in an online casino: First deposit bonus is 152% up to 2 BTC + 180 free spins. The bonus total is 6 BTC + 180 free spins. No deposit bonus: 20 free spins. Wagering: 40x bonus.
As of March 2021, Bitcoin was worth around $48,000. It means that the bonus would be around $96,000. Conventional casinos cannot match this deposit. There are free spins as well. The surprising thing is that the wagering requirements are equal to those in conventional casinos, which go as high as 60x.
Bitcoin casinos are changing online gaming in terms of security, transparency, and anonymity. The lucrative bonuses are the icing on the cake. They will definitely play a big role in gambling’s future.
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