Advantages and disadvantages of using bitcoin in the gambling industry

Every year, cryptocurrency becomes more and more popular, and to a greater extent it is bitcoin, in financial transactions in virtual casinos. And many gamblers are purposefully looking for an online institution that uses cryptocurrency.

It is worth noting that when using this digital currency, there are pros and cons.

The main pros and cons of using cryptocurrency in a casino

Positive points:

1.  The transaction fee is quite low compared to other types of payment systems. Bitcoin is a decentralized network, there is no controlling authority. If there is a commission fee, it is only a few cents. And if the client has already used the cryptocurrency to replenish the game deposit, then there is no commission fee for withdrawing funds.
2. Complete confidentiality of player data. In order to use transactions with cryptocurrencies, you only need to provide a bitcoin wallet address, public and private keys. And for example, you don’t need to send scans of your documents. After all, this verification procedure is very confusing for many. Not every person wants to send the details of their personal documents.
3. Safety. No one can fake the history of transactions, any attempt to do so will be rejected. Money stored in bitcoins will not be blocked.
4. Compliance with laws. Bitcoin can be fully used for mutual settlements legally, because it is above legislative drafts. The casino and the player can be located in absolutely different countries.

But, of course, there are also a few disadvantages:

The main disadvantage of bitcoins is their variability. After all, the cost of cryptocurrency during the day can change. Today there is one price, and tomorrow it will change by 20%. Accordingly, both the player and the casino owners may find themselves in a financial imbalance.

Well, the future of bitcoin remains open for now.

TOP 3 bitcoin casinos

• Betsafe Casino. This is a unique platform with cryptocurrency slot machines. As a welcome bonus, customers are given up to 5 bitcoins, as well as 140 free spins. And for the first replenished deposit, the user receives a 100% bonus and 30 free spins;
• No Limit Way. For registration on the website of this online institution, customers are offered a no deposit bonus. There are 2600 gambling offers here. Any connoisseur of excitement will certainly find his outlet;
• 888. A licensed casino that offers a wide variety of promotions. As part of the loyalty program for customers, there are VIP bonuses. The casino adapts perfectly to portable devices. And this allows the client to enter the game process at any time convenient for him.

Innovative progress allows Internet users, including connoisseurs of gambling and sports betting, to keep up with the times, using modern advantages and convenient payment methods that significantly save time.