Since the first mentions about blockchain technologies appeared on the Internet in the early 2010s, they got more and more popularity. Lots of various products use this tech innovation at least partially. Nowadays, among the most popular thing involving blockchain technologies is cryptocurrency.
So, it’s not a big surprise that different gambling and betting clubs rapidly start using crypto after the first launch. Today, about 35% of all online casinos allow their clients to involve cryptocurrency for any financial operations. And this number is constantly increasing. Still, it’s undoubtedly not the only way how managers and users can use blockchain.
But let’s focus on the financial part of the question in this article. So, please, keep reading if you would like to know why bitcoin casinos are the next big thing in the gambling industry.
General Info about Crypto
To understand better why the cryptocurrency is so beneficial for the online bitcoin casinos field, it’s essential to know what it is and all general terms regarding its use. So, to be briefer, crypto is a specific type of currency that works thanks to blockchain technology. Nowadays, the overall number of different cryptocurrencies includes more than a few thousand various names.
Today, the overall volume of the crypto market in the USA for only three of the most popular currencies (BTC, ETH, and BCH) in 2021 scaled more than 90 000 000 USD. Also, more likely, it will keep growing regardless of any obstacles and economic situation. Those numbers speak for themself. Crypto can potentially scale the profits of any individual, business, or organization up to the top.
Almost every reliable gambling and betting club allow its clients to use crypto. Those online Filipino bitcoin casinos are also often called bitcoin casinos by the name of the first cryptocurrency that has ever been created.
You can access a list of all trustworthy bitcoin casino sites in the Philippines by checking this page. Also, you need to know that more and more betting and bitcoin gambling sites allow their players to use crypto ever since the platform’s launch.
Why is Crypto Such a Good Choice for Online Casinos?
As you probably understand, every crypto is working thanks to blockchain technology. So, in general, all benefits of using cryptocurrency for any kind of activity are related to the properties of that tech. In some instances, it would be not so easy or even almost impossible to make work at least a few of those properties without blockchain technology.
Here is a brief list of the most excellent crypto features:
- Anonymous transactions
- In most countries, any operation with crypto is not traced by authorities
- You can choose yourself whether you will pay taxes with your cryptocurrency or not
- And many others
Blockchain technology links every computer which uses it into an entire chain. As a result, finding out who sends the money and who receives the transaction becomes almost impossible. Still, in some cases, if authorities send the strict request to a third-party service, which was used during a transaction process, they might get all the necessary info. So, you should read all agreements and policies very attentively before using any additional services.
Financial Part
Cryptocurrencies demonstrate a very high volatility index due to their modern nature. Still, the overall market size and value keep growing each year. This happened as soon as new coins were released, the number of existing coins increased, and due to many other factors, for example, in October of 2021 crypto market cap raised to 2.6 trillion USD and, in general, nowadays, keep its growth even further.
The stability of crypto is provided by a vast number of coins and an excellent possibility to trade them in any amount, order, and exchange rates you prefer. There is no way that such a vast market will fall at once one day. So, that is the main thing why using crypto to play in online casinos is a great idea. Even if some of your coins will start to lose their value one day, you can exchange them fast and effectively.
No More Privacy and Personal Info Violations
Gambling and betting are extremely popular nowadays. About 70% of the population worldwide gambled for money at least once in adult life. But in some instances, a user might prefer not to make public the fact that he likes to play card games or slots.
For example, if an online casino user is famous or prefers to hide the point of his interest from his family, it’s not a great idea to pay for gambling and betting services with their credit or debit card. In that case, it’s much more reasonable to use crypto instead of traditional money.
The main reason – is that any cryptocurrency transactions can’t be traced as easily as regular ones. As a result, any scammers or other people who’d like to get online casino users’ private info won’t be able to do it. But all the benefits and joy of playing slots, cards, rulers, and other games will be fully provided.
Does Crypto Is Good Only for Money-related Spheres?
The brief answer to this question is: “It is not true.” We’d like to tell you that crypto and blockchain can be used nowadays, not only for casino gambling and financial activities. They can also be used in real estate, bitcoin casino apps customization, program creation, and many other fields, mainly on the Internet.
Blockchain-related technologies are also effectively used for admin purposes. For example, many famous online casino administration companies are using special software to manage all the processes which are run on both the clients’ and employees’ sides.
Nowadays, many online casinos’ workers get paid exclusively or partially in crypto. Also, people add blockchain technology to many other fields every day.
Conclusions
Most definitely, soon, every online casino in the world will allow their clients to use crypto for any financial operations on their platforms. Many different benefits naturally arise due to a specific technology implemented in every cryptocurrency’s work basis.
It is called blockchain technology and can be used not only in crypto but also in many other fields of human life. Probably, blockchain will be one of the most popular technologies worldwide soon. So, don’t waste your time, and join the crypto gambling journey right now!
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