Money shapes the economic, political and sometimes, social platforms in the world. Having enough of it tantamounts to a better quality of life. You can fulfill that through a new form of investment and currency in the form of Bitcoin. Casino and money goes hand in hand, and now, more and more Bitcoin casino is getting the popularity it deserves. Let’s explore why and how bitcoin casinos are getting more and more recognized throughout the web.
Bitcoin: A New Kind of Money
Some people say money makes the world go round. But nowadays, online investors believe it is cryptocurrency. The system of exchange has come a long way and evolved throughout history.
Before, people used shells, cattle, wheat, and paper bills as a form of money or medium of exchange. Today, cryptocurrency, a form of electronic money, has become a popular tool for the exchange of goods, products, and services. A lot of investors, banks, and companies around the world are interested in the growth potential of this digital gold. Cryptocurrency, specifically bitcoin, is indeed making its impact on the global economy. That’s why numerous amount of online Cryptocurrency exchanges are existing today.
In 2008, a mysterious inventor known as Satoshi Nakamoto created technology in the form of bitcoin. Bitcoin is a form of cryptocurrency, electronic cash, that you can exchange for goods, products, services, or other currencies. After its launch in 2009, bitcoin has become a controversial virtual currency.
All About Bitcoin
Unlike fiat money or the legal currency controlled by the government, bitcoins are unregulated. Transactions happen between two individuals or peer to peer network without any central banks or intermediaries. Also, bitcoins are often called an alternative currency since people have 100 percent control and responsibility for their money using a cryptocurrency wallet.
Bitcoin is an independent electronic cash. It is unique in a way that no government has control over it or even its users. The proponents of bitcoin strongly believe that it is revolutionary. The Declaration of Bitcoin’s Independence states that bitcoin removes governments and institutions of any control over the money because bitcoin is fundamentally humanitarian.
Also, every bitcoin transaction is transparent and verified through a public digital record called a blockchain. In 2017, a study from the University of Cambridge recorded that there were 2.9 to 5.8 million unique users of bitcoin worldwide. The public checks and balances every transaction thus reducing the risk of monopolizing or falsifying transactions.
Transactions using bitcoin are also efficient, fast, and guarantees anonymity. Bitcoin transactions happen globally every day. With just a click of a button, two parties online can directly exchange money. On the other hand, bitcoin is anonymous in a way that personal identities, bank account numbers, and personal addresses are safe.
But records of transactions are still recorded in the public log or the blockchain. This is to prevent users from spending the same bitcoin more than a single transaction. According to economists, bitcoin has three valuable characteristics such as it is hard to earn, limited in supply and easy to verify.
Bitcoin Casino vs Traditional Casino
Recently, bitcoin has gained its place in the online gambling industry because of its significant value. Online casinos, or virtual casinos, are simply digital versions of the traditional casinos. Online casinos allow gamblers to play and place their bets through the internet.
According to Our Bitcoin News, as compared to traditional casinos, Bitcoin casinos provide higher payback and payout percentages to attract more players. Most Bitcoin casinos partner with software companies such as CryptoLogic Inc, International Game Technology, Microgaming, Playtech, Golden Race, and Realtime Gaming.
There are different types of online casinos namely web-based online casinos, download-based online casinos, virtual casino games, and live dealer casino games.
Online casinos offer gambling games such as Baccarat, Blackjack, Craps, Roulette, Sic bo, Slot machines, Poker, Keno and Bingo. They all offer the games through different interfaces. The most popular is the web-based online casino or flash casinos, where users can sign up and play directly on the browser without downloading the game.
Browser plug-ins such as Macromedia Flash, Macromedia Shockwave, or Java are required to make the games possible. Next is the download-based online casino which requires installation but runs faster than the web-based online casino. The graphics, sounds, and other aspects of the game can run efficiently without the support of a browser. Lastly, the virtual and live dealer casino games offer both interfaces that are found in web-based online casinos and download-based online casinos.
So what makes Bitcoin Casinos popular?
Nowadays, modern technology allows online gambling industries to utilize bitcoin as a means of transaction. There are several advantages of using bitcoins in the online gambling industry, online casinos, esports, or other gambling platforms. As CryptoWisser says, online bitcoin casinos are transparent. The transparency in online bitcoin casinos ensures the players of clear and fair betting platforms.
Unlike in traditional casinos that conceal winning information from players, online bitcoin casinos eliminate any forms of scams through automation. Online bitcoin casinos are also safe and secure from any potential threats. Personal information, credit card details, addresses, and other confidential information are guaranteed safe. “먹튀검증사이트”
Online bitcoin casinos are also cheaper compared to traditional casinos.
Usually, gamblers pay an enormous amount of transaction fees, taxes, and other service fees before playing a game. Since online bitcoin casinos are unregulated by the government, most registration fees are low or waived. This is one of the main selling points of online bitcoin casinos that is missing in traditional ones. Also, online bitcoin casinos are more convenient and accessible around the world. Players have full control over their own money. And it only takes a reliable internet connection to earn cash and win from different parts of the world.
Online bitcoin casinos are also popular among gamblers because they offer more game variety for games such as blackjack, baccarat, roulette. The online graphics and user experience is also totally different from traditional casinos. Also, bitcoin betting casinos offer high winning value as compared to fiat money.
They offer a higher advantage to players who are using bitcoin as their mode of transaction. Most bitcoin casinos offer as much as 99 percent payouts and the bitcoin value increases as the player continues playing. Lastly, online bitcoin casinos offer more perks, bonuses, and promos than traditional gambling platforms.
Some tips for you, first-timer
Bitcoin has gained popularity among a lot of people over the years. But nearly after a decade of its release, some are still hesitant to invest in bitcoins. According to Forbes’ article for Bitcoin investors, new users can apply several strategies before investing in digital currencies. Before getting started, users need to get as much information as they can through research, learn from mentors, and financial advisors. Bitcoin is relatively in its early stages of development. And just like any other investments, bitcoins come with risks.
One must proceed with precaution and enough knowledge before investing their money. A management director from Crypto Asset Management suggests the buy and hold strategy. This is simply investing a little capital on time and waiting a bit before investing for more.
When venturing into bitcoins or any cryptocurrency, it is also important to diversify funds. This is another form of risk management technique. Financial advisors suggest that new users should distribute their assets and not put them in one basket.
Other kinds of cryptocurrencies
Apart from bitcoins, there are other cryptocurrencies that new investors can explore such as Ether, Litecoin, Ripple, Libra and Bitcoin Cash. If one virtual currency falls, the other cryptocurrencies will serve as a back-up. New investors must also consider several traditional assets such as stocks and bonds when creating a diversified pool of funds.
Bitcoin has proved impressive gains after its public launch. Stories of success and bitcoin millionaires made the rounds online, therefore, attracting new investors. The success and trust in bitcoin are also evident that international businesses, companies, and online casinos use it as a mode of transaction.
Some people say bitcoins may or may not have worth at all. While others believe it is just a fad or maybe a legitimate digital gold. Bitcoin is a product of technology and a new kind of money. Looking back in history, currencies or any medium of exchange are ever-evolving. In the emergence of modern technology, bitcoins and other virtual currencies may be indeed shaping the economic, social, and political systems of the world.