You might have been living under a massive rock if you have not heard of the terms cryptocurrency and Bitcoin. The digital currencies are said to be the future of finance which will support economic growth. It has been in the news and extensive discussions due to the volatility it possesses and the prices its offer. With all the innovative concepts that have been incorporating cryptocurrencies into them include online gambling too. It was in 2016 that people started noticing the role of Bitcoin in online casinos. Although the gamblers who have been programmed to play using their funds in the bank, many of them have started shifting to the game with the digital currencies in their hold. Even the novices have begun hitting the button by depositing the glazing Bitcoin into the gambling machines.
Bitcoins function like any other national currency in the online casinos, but you will need to exchange your currency for the coins. You will then have to send over the coins to a sportsbook or casino to place bets on a game. If you win the bet, you will be paid the reward in Bitcoin. You can always trade it for your national currency. But you would be confused about gambling with cryptocurrency since it seems like double the effort. So, let us have delve deeper the reasons that pay off the time you invest in the exchange.
1. Speed of Payout is Fast
The biggest reason Bitcoin has bankers working all across the globe is that it can be transferred over easily to any part of the world in less than 10 minutes. There have been reports that it takes much longer than that to complete transactions, which is due to the heaping up of requests. However, even that would make a shorter time than that of international bank transactions. All those who have tried transferring money to a different part of the world will have witnessed the hassle behind doing it. This is the reason why gamblers also prefer to play with Bitcoin; their withdrawals which would otherwise take about 3-5 days to be transferred will be sent in a few minutes.
2. Privacy is a Factor that Gamblers Look for
Bitcoin does not completely protect anonymity but does provide it enough for a gamble. You might want to keep privacy else it could affect the other financial transactions of yours. No other banking documents will record the exchange you made for the Bitcoin except for that in the platform you traded it. You are guaranteed a certain level of anonymity with Bitcoin gambling which can help you keep your habit in the shadows.
3. Patience has a Better Effect in Bitcoin Gambling
Your jackpot winnings will be transferred to your account in 3-5 business days when you are playing in online casinos, which you would use in a few days. Whereas, when you play with Bitcoin, the reward also is transferred in Bitcoin. You can always store it in your account to be exchanged later for your national currency. By waiting patiently, you could earn more with the jackpot since Bitcoin is volatile and could shoot up anytime. So, when you win casino rewards in Bitcoins, keep track of the rates and exchange it when the price hits its highest and when you need it the most.