Why Online Casinos are Now Accepting Bitcoins.
Online casinos started accepting bitcoin back in 2014. Since then, this digital currency has gained traction and now gamblers around the globe are using bitcoins to play their favourite games. Let’s take a look at some reasons why some online casinos are accepting bitcoins.
They want more customers.
Gambling is a big business worldwide. The industry generates billions of dollars each year, with profits often being shared between players, operators and shareholders. So it should come as no surprise that many companies have taken notice of cryptocurrencies.
Bitcoin is anonymous.
One reason gambling sites are accepting bitcoin is because it’s an easy way for them to keep transactions private. It prevents any real-time monitoring of transactions by financial institutions or authorities.
No charge backs.
There are plenty of fraudulent websites out there, so having a system where you can’t dispute charges is extremely handy. Some might even say it gives consumers complete privacy since they don’t use credit cards.
Faster deposits and withdrawals.
A major benefit of bitcoin is its ability to send money internationally cheaply and quickly. It allows users to avoid high withdrawal fees when moving funds outside of their home country.
Lower cost transfers.
Most countries operate on a fiat currency basis, which means transferring money can be costly and time-consuming. However, cryptocurrency exchanges allow people to transfer money across borders without paying any fees.
Secure payment methods.
Cryptocurrencies like bitcoin also offer greater security than traditional payment systems such as credit cards. Because bitcoins aren’t stored in banks or other third-party providers they provide much safer payments that could protect consumers from fraud.
In conclusion, we’ve listed six great reasons why online casinos accept bitcoin payments. This includes low costs, quick depositing/withdrawal times, increased security, anonymity and convenience. We hope this article helps you determine whether an online casino accepts bitcoin or not!