What Does the Future Hold for Bitcoin Casino Gaming?
November 19, 2020
Slowly but surely, Bitcoin Casino gaming is gaining traction and emerging as a major new trend. Cryptocurrency has been around for some time but has only begun hitting its stride as of late.
For some, the appeal of Bitcoin lies in the volatility of the currency itself. When you invest in Bitcoins, you take ownership of one of the most volatile assets on the face of the earth. One which on several occasions has skyrocketed in value overnight, making millions of savvy investors extremely wealthy in the process.
But what is it about Bitcoin that makes it such a popular choice as a form of online casino currency? More importantly, what does the future hold for the Bitcoin casino as we know it today?
The Popularity of Bitcoin Casino
Different players have different reasons for choosing Bitcoin as their preferred payment method. However, Bitcoin has several major points of appeal that have made it a real contender in the online casino landscape.
- Anonymity. Playing online with Bitcoin means benefiting from the kind of anonymity no other payment method can provide. It’s almost as private, discreet, and untraceable as cash – a huge advantage for those who prefer to keep their online activities discreet.
- Lower Transaction Fees. The vast majority of leading Bitcoin casinos are extremely competitive where transaction fees are concerned. Many of which have removed transaction fees entirety for Bitcoin transactions.
- Exclusive Bonuses. In order to encourage more players to sign up and try out Bitcoin for themselves, some casinos are now offering exclusive bonuses and incentives for Bitcoin transactions.
- Bigger Profits. Though far from guaranteed, the fact that Bitcoin is so volatile means that whatever you win today at an online casino could be worth exponentially more tomorrow. Though of course, Bitcoin’s value can also fall just as fast.
It’s also worth highlighting the speed and simplicity of Bitcoin transactions, just as soon as you’ve set up and activated your online wallet.
The Legality of Bitcoin Casino
As things stand right now, Bitcoin is a wholly unregulated currency worldwide. This is one of the reasons for its volatility, as no government, authority, or central bank has any control or influence over Bitcoin.
On one hand, the fact that it is unregulated is one of its main points of appeal. On the other, it’s also where the risk lies with Bitcoin in general. At any time and for any reason, any authority wishing to do so could declare it illegal in any region, state, or country.
This is something that has happened in some places – US citizens are currently prohibited from running a Bitcoin casino in their home territory. This means that Bitcoin casinos operating in the US need to be based elsewhere and simply offer their services to American audiences.
From a strictly legal perspective, Bitcoin is a 100% legitimate and viable form of currency right now. Questions remain as to whether this will change in the future, though there’s zero evidence to suggest any major authority is planning to declare war on cryptocurrency anytime soon.
What Lies Ahead for Bitcoin Casino?
Looking forwards, the number of Bitcoin casinos operating online is expected to continue growing indefinitely. The greater the demand for Bitcoin casinos (and businesses in general that accept Bitcoin payments), the faster the sector will grow and evolve.
Whether or not a cryptocurrency, in general, will eventually replace conventional currency in its entirety is largely inconsequential. While ever there’s a demand for bitcoin casinos, innovative operators will continue to launch new online gaming portals.
The extent to which decentralized currency like Bitcoin is likely to be scrutinized by major authorities worldwide remains to be seen. Though for the time being, it’s not going anywhere – and its popularity is growing by the day.
Final Thoughts for Newcomers
If you’re planning on getting into the whole Bitcoin casino gaming thing for the first time, don’t make the mistake of choosing a casino at random. Do your homework, read casino reviews, and ensure it’s a top-rated rated casino you can trust. Not all Bitcoin casinos are of the same high-quality standard and just because a casino accepts Bitcoin payments doesn’t mean it’s worthy of your time or money.
Take your time and find a quality casino you can trust for a safe and enjoyable online gaming experience.
