Interest in cryptocurrencies is always growing – and at the very forefront is Bitcoin or BTC. The most widely-traded cryptocurrency in the world, BTC has also found a firm place in online casino gaming. But is BTC set to outpace traditional casino funding? What might the future hold for crypto gamers?
When was Bitcoin first used in online casinos?
Bitcoin emerged as a viable currency at online casinos as far back as 2012. However, it took several years for casinos to embrace the medium, thanks to licensing and volatility fully. By its very nature, Bitcoin is a volatile commodity – meaning its value will rise and fall regularly.
However, demand for cryptocurrency payments and withdrawals at online casinos has only increased. There are said to be more than 100 million daily users of BTC. That’s a huge audience for casinos to tap into.
Demand is also increasing because BTC is quick and easy to trade. It also offers almost complete anonymity, meaning players can keep their gaming activities private.
What are the benefits of using Bitcoin at online casinos?
Alongside privacy benefits, players can expect payments and withdrawals at BTC casinos to be remarkably swift. The best Bitcoin betting sites of 2022 offer almost instant transfers without the need for processing time or extra fees.
Since crypto gaming is still a fairly ‘new’ concept, casinos are also willing to reward users. For example, you may find specific bonuses offered to players who pay with BTC. There’s also a range of Bitcoin-only casinos removing the need for fiat payments entirely.
Many players may also see using Bitcoin at online casinos as an investment opportunity. However, this is always a risk that requires some responsible planning!
As a decentralised currency, Bitcoin is free from bank intrusion and oversight. That means players have complete control over the money they pay in and withdraw. It’s also a straightforward way to separate gaming money from everyday cash.
Is online gaming in the middle of a Bitcoin revolution?
While Bitcoin is yet to go ‘fully mainstream’, several casinos and slot sites are softening to cryptocurrencies. This is largely thanks to increased demand and greater viability for processing digital money.
Some casinos are noticing the cost-saving benefits as well as the efficiency boosts to their users. While there will always be a core audience willing to pay by card or e-wallet, the thirst for BTC is growing.
Online casinos are in a prime position to lead the charge in bringing BTC into the mainstream. Bitcoin and online gaming are both part of the ‘Web3’ landscape, which revolves around the metaverse and decentralisation. By adopting BTC early, casinos can attract increasing interest in Web3 as the internet continues to evolve.
Summary
The wider world is yet to fully embrace Bitcoin as an everyday commodity. However, its use is becoming less and less niche. Once there is greater adoption of cryptocurrencies by governments and banks worldwide, the revolution can finally get underway.
