Online Casinos & Bitcoin: A Match Made in Gambling Heaven

Online Casinos & Bitcoin: A Match Made in Gambling Heaven

4 April 2021 0 By Rochelle Royal

Cryptocurrency is in the news more and more, especially since 2017. Once over a lot of in-depth research would have been needed to be done to learn what cryptocurrency is but given the exceptional rise in the price of the bitcoin it is now general news.

This product of modern technology now appears to go very well with a completely different product of modern technology, namely the online casino. This article provides a brief explanation.

A crypto coin is a digital currency. It can be compared to the physical money in your wallet, only it is not physical but is on the computer. However, you can pay with it, increasingly in more places.

In Vietnam, for example, you already have bitcoin ATMs, where physical Vietnamese money goes out of the machine at the expense of your digital bitcoins. 

There are countless of these coins that are based on the blockchain, each with its own advantages. Other well-known coins include Ethereum, Litecoin and Bitcoin Cash.

types of cryptocurrency

Cryptocurrency can initially be mined, a technical story that we will not go into too much at the moment. They can also be purchased, for this, there are many different sites where you create a digital wallet and buy a number of coins via iDeal, for example.

Many people do this as a form of investment. They respond to an expected price increase of a particular currency, buy it in advance and hope to be able to sell it for a profit. For many, this appeals to the imagination, since, for example, bitcoin has more often shown extreme growth in a short time.

So easy to get rich, if you are good. Unfortunately, anticipating extreme price rises is very difficult, if not almost impossible. This about the Stock Exchange and Wall Street, investing in cryptocurrency has the same principles.

Bitcoin & Online Casinos Go Hand in Hand

Online casinos are masters of technological development, which makes sense given this is their business market. The better the online experience, the more customers they can expect. This is one of the reasons that many online casinos have already embraced the cryptocurrency. There are even casinos that only work with cryptocurrency.

A big advantage of this is that cryptocurrency is completely anonymous. There is no database that records personal data in transactions, which enhances the player’s sense of privacy and security.

Of course, ordinary gambling tax still has to be paid on the profit. What should be taken into account when playing with crypto coins is that the price can rise or fall enormously.

Meaning that the physical money, the euros, which are against the same currency, are also somewhat volatile. This can of course work to your advantage as well as to your disadvantage. It is smart to look for a casino with a short payout time, preferably immediately, so that you know at which rate the payment will be made.

With today’s technology, you can gamble anywhere. You can easily create a digital wallet on your mobile via one of the many sites.

Some of the most recognised bitcoin casinos include:

After purchasing some bitcoin, you can head to a mobile casino and then, at a location of your choice, you can enjoy the gambling game completely anonymously. No one will know what you are doing, no one knows it is you.

When choosing the casino, make sure that they have a license, for example from Curaçao or Malta, because this means that they are regulated by a third party that keeps an eye on things such as fairness.