It is amazing to see how a large number of punters are using bitcoin over other currencies to gamble. Crypto gambling is rapidly developing and becoming popular in the gambling industry.
It is important to note that a lot of gambling can be addictive.
Below are some of the top reasons why a lot of punters have adopted the technology of bitcoin currency:
Decentralized currency
All other currencies use the central office to control their currency where a third party is involved. In bitcoin dice, there are no third-party involvements and therefore it is a great advantage. For example, these other currencies are issued by a central bank which significantly influences the value of the money they issue.
This is a problem to undeveloped countries in that when banks experience a collapse of money value, players will get very little or nothing at all. Bitcoin is decentralized and therefore collapsing of a dollar or pound does not affect bitcoin.
Provides provably fair games
Players do not trust casinos with a lack of transparency. Some casinos show the games RTP and vitality. But this does not show the algorithm at work to show if a random result is authentic.
Bitcoin casino uses blockchain technology to their games through a provably fair algorithm. This works the same way as regular online gambling games.
The provably fair algorithm does not allow hackers to manipulate the game.
Privacy
Many people like privacy for different opinions. Some players do not like their family or friends knowing about their gambling affairs. Some others are because of their religion and so on.
One of the main advantages of crypto gambling is privacy. Unlike bank accounts, debit, or credit cards, you can buy bitcoin without the use of your real name or any other basic personal information.
An added advantage is that you can avoid the prying eyes of the government and also dangerous hackers.
There is also various way of withdrawing your winnings. Create a crypto wallet; get a wallet address and private key while your identity remains anonymous. You can also sell your BTC such as a bitcoin ATM or cryptocurrency exchange sites without a KYC policy.
No geolocation restrictions
Some countries have put network blockades on online casinos preventing players from gambling. Although there are workarounds for passing the geolocation restrictions set by IP within strict areas by using VPN service
Bitcoin in some areas is seen as entertainment and not a gambling site therefore it is unrestricted. Players in strict areas can access gambling sites but the problem comes during payments. Banks and financial institutions penalize transactions made to online casinos. Bitcoin is able to get around restrictions set by jurisdiction. Internet providers do not block or track cryptocurrency transactions.
Transaction speed
Everybody loves money. Every player loves to get their money as soon as possible after winning. While other currencies may take days to make a transaction since it passes through an intermediary for verification, in bitcoin dice, the transaction is immediate or takes a few hours.
Although other currencies may still get delayed on weekends and holidays, that doesn’t mean it is for bitcoin. This is a very important benefit.
All you need as a player to keep in mind is avoiding unnecessary betting and choosing the most reliable reputable casinos.
