Just a few years ago, the terms Bitcoin and cryptocurrency were relatively unknown in the world. Created by the elusive Satoshi Nakamoto, Bitcoin revolutionized the way we think about money. A decentralized currency with literally no governing body, it’s easy to see why Bitcoin took off the way it did.
The untraceable nature of Bitcoin offered anonymity unlike any other when compared to hard currencies. With Bitcoin, one can easily make and receive payments without having to worry about catching the attention of suspicious authorities.
Hence this was the main reason behind its popularity amongst citizens of the dark web. What was once thought to be the domain of criminals, smugglers and even hired guns has now become a mainstream part of life.
Nowadays, you don’t need to be up to no good to make use of Bitcoin. Accepted all over the world and offering virtually guaranteed anonymity, Bitcoins are also extremely useful for those who fancy games of chance.
Whether you’re a fan of online casinos or just punting on the NFL odds for next season, Bitcoin have the potential to open a whole new world of opportunities. Read on to learn more about why Bitcoins are the perfect currency for the gambler.
1. Anonymity guaranteed
Rather unfortunately, there has always been a social stigma that comes with gambling. This situation has not been supported by how gamblers are usually stereotyped as being unreliable and untrustworthy. Along with this, the presence of various shifty casinos has not helped this sad state of affairs.
While you may be just looking to put down some money on the next Dallas Cowboys game, your wife may not take too kindly your activities. Furthermore, how comfortable would you be furnishing online gambling sites with your banking details? Not very we’d assume.
This is where Bitcoin comes into its own. Thanks to the anonymity offered by Bitcoin, you’ll never have to reveal any sensitive information to any unsavory parties. Thus, this allows you to bet on the latest games with peace of mind. Finally, also be able to avoid the risk of your friends or family discovering your habit.
2. Instant payments
So, it’s your lucky day. You’ve made the right bet on the right team and now it’s time to collect your winnings. There is nothing quite like the feeling of seeing your winnings deposited right into your account.
But wait, there’s a waiting period? 5 business days you say.
Brilliant. With international transfers taking upwards to 5 days, it could be a long time before you get your hands on your winnings. Fortunately, with Bitcoin you won’t need to wait for long. With transactions confirmed within a matter of minutes, you’ll be able to receive your payments instantaneously.
Also, as Bitcoins are becoming increasingly accepted worldwide, you won’t have to worry about converting your crypto holdings into cash. For those of you who prefer the feel of cold, hard cash, there are plenty of reputable crypto exchanges where you can easily cash in your Bitcoins.
3. No transaction fees
If you’re a seasoned player, chances are you’re familiar with transaction fees. These are charges-imposed customers transferring funds into their bank accounts. Imagine the frustration of having to pay a fee just to receive your own money.
With Bitcoins, most service providers do not charge a transaction fee for transfers. Hence this means you’ll get more of your winnings without having to pay any additional funds. Also, the gambling sites won’t have to waste money on credit card fees.
Cryptocurrency and other Bitcoins are the way of the future. Built by the internet for the internet, Bitcoin is quite likely the perfect currency for online gambling.
Author - Benjamin Lee