Bitcoin Casinos: Pros And Cons Of Their Transactions
Is it advisable to use Bitcoin casinos as a payment method on these platforms? know the advantages and disadvantages associated with this type of transaction.
Cryptocurrencies are digital currencies that function as a medium of exchange supported by blockchain technology and are increasingly consolidated as a popular way to carry out different types of online transactions.
With Bitcoin , in early 2009, this digital money system was started. There are currently other cryptocurrencies, such as Ethereum, Ripple, Bitcoin Cash, NEM, Litecoin, IOTA, NEO, Dash, Qtum, and Monero. Bitcoin is the one that enjoys the greatest recognition and is the most accepted in different electronic and conventional businesses.
More and more online casinos in the world have, within the available payment methods, the possibility of depositing and withdrawing profits through Bitcoin. In addition, the cryptocurrency is expected to gain popularity and more operators are encouraged to implement this means of payment.
Panorama of Bitcoin casinos online in Latin America
Tim Heath, CEO of Coingaming Group, company that owns the Bitcasino .io brand , highlights the potential of cryptocurrency in Latin America, mainly for three reasons.
The first, the volatility that characterizes the currencies of most Latin American countries: “have super weak currencies, high inflation rates and cyclical devaluations,” says Heath.
Finally, and referring to the online casino market , Heath ensures that cryptocurrencies will allow online gambling to reach wider and more diverse audiences. The reason, the levels of banking are very low and, on the contrary, Internet access through different devices is increasingly common.
Leading operator of Bitcoin-driven online casinos , it offers more than 1,400 games including live tables, slots, and table games. Security, trust and agility in transactions are some of its sales promises.
It is one of the cryptocasinos with the most ambitious offering for online players. They offer around 4,000 slots , payment of prizes in short times, bonuses and promotions, and absolute reservation of the user’s identity. In addition, they receive about 20 different types of cryptocurrencies.
More than 100 software developers provide 1xBit with their wide range of games, among which are brands such as NetEnt, Evolution Gaming , Realistic and Pragmatic Play. The speed with which its platform works, available in 52 languages, will allow you to easily play multiple games simultaneously.
With more than 2,000 games in its portfolio, this online casino offers generous bonuses and promotions to captivate users, especially those who prefer to transact with cryptocurrencies.
In addition to the welcome bonus and its VIP program with exclusive promotions and loyalty bonuses, mBit Casino offers a no deposit bonus consisting of 50 free spins on its slots .
Renowned software providers in the online casino industry such as Microgaming, NetEnt, Evolution Games, Endorphina and Booming Games, are a symbol of excellent quality and variety in their games.
Bitcoin caasinos – why play on these sites online?
For reasons of security in transactions, conventional payment and withdrawal methods force online casinos to investigate a good number of personal and financial data.
Fortunately, e-commerce through cryptocurrencies offers a new private payment option that gives users the option of having control over their information.
Using bitcoin as a payment method eliminates third parties for making transfers. This establishes a direct relationship between the user and the online casino , which would even allow access in countries where gambling and betting are not legalized .
Most online casinos can ensure that deposits are instantly reflected in gaming credit. But when it comes to disbursing the profits, the same is not the case.
This is one of the great advantages of cryptocasinos: users can withdraw their winnings almost as fast as they make their deposits, without having to wait between 3 and 5 days, as with any of the other withdrawal methods.
Crypto casinos have nothing to envy other types of online casinos , in terms of quantity and variety of games. The most popular games of luck and chance are also part of the offer of casinos that prioritize Bitcoin as a payment method. The best software providers provide their services to crypto casinos , ensuring that your favorite games are part of the portfolio.
Bitcoin Casinos bonuses and promotions
The welcome bonuses and loyalty programs offered by crypto casinos are usually very generous, arguably with greater advantages for players than ordinary casinos .
Popularity of Bitcoin casinos
The casinos that have Bitcoin as a basis for electronic transactions, are increasingly popular. More and more people are aware of the benefits of cryptocurrencies and are encouraged to use them in the online casino market .