Bitcoin has been around for decades now and as it gets stronger and more popular every year, people find more uses for cryptocurrency. From shopping to trading, to using it as a payment option, one can say that Bitcoin had become a significant form of currency already.
With that, even online casinos have adapted to the Bitcoin hype. More and more Bitcoin Casino India and gamblers now have been switching to the use of cryptocurrency as a form of payment, and here are the top reasons why.
Easier and more convenient signup
Usually, an online gambler needs to provide a specific set of information before he would be able to proceed to start playing or betting. All these information are usually given upon registration to the gambler’s chosen platform or site. While most people have no problems given these pieces of information–like a full name and bank account or e-wallet details–it does mean taking extra steps and thus, more time.
However, with gaming in Bitcoin, one only needs to provide these pieces of basic information: a chosen username, a secured password for the account, and a valid working email address. Give that, and you are good to go.
Using conventional transfer methods, gamblers often have to wait days up to a whole week before they are able to obtain their winnings to their bank accounts or e-wallets. This is because most online gambling platforms require 1 to 2 business days of processing the withdrawal request, and then your bank may take 2 to 5 business days to have the amount credited to your account.
If you are using Bitcoin, you will have the ability to withdraw your winnings instantly without any processing period and straight to your Bitcoin wallet. This means that withdrawal using a Bitcoin wallet is way faster.
Perhaps the biggest difference between the usual online gambling versus Bitcoin online casinos is the ability of players to remain anonymous while playing and gambling on their chosen platform.
Usually, part of the security process of an online casino platform is a KYC or know-your-customer process that a player needs to go through before being able to continue playing on the platform. This means that like it or not, you may need to provide a photo of you, a copy of your valid ID, and sometimes even a form of proof of address for billing.
With Bitcoin online casinos, there is no need for all of these. After providing an email, your Bitcoin wallet, and a chosen username, there is no more information needed from you. This is perfect for players who look at their privacy online as a serious matter and prefer not to leave any of their details online anywhere.
The use of “provably fair” games
One of the most common worries of players, especially those who are new to the world of online casinos, is the fairness and integrity of the games. It is normal for someone to worry about being cheated on in a game of roulette, or playing in an online slot that has been rigged to make only specific players win.
However, through the use of Blockchain technology, players can rest assured that the games they are playing are fair and runs with integrity. This is due to a game algorithm called “provably fair.”
In provably fair games, players have the ability to confirm the fairness of the games that they are playing or they are betting on. The method or process of verification depend on what the game provider would give.