For sure you have heard of Bitcoin, the cryptocurrency that was invented in 2009. Born as an answer to the financial crisis, Bitcoins have the potential to shake up the worldwide financial system, similar to what happened to the business world in the past 20 years with the development of the internet.
Out of the many cryptocurrencies, Bitcoins are by far the best known and most used. Without going into the technical details, Bitcoins can be used as a currency and have several benefits over using currencies like US Dollar (USD) or Euro (EUR).
So what are the benefits of using Bitcoins (BTC) compared to traditional currencies for online gambling purposes?
Minimal transaction fees: While credit cards, Paypal and other eWallets have high transaction fees (usually over 1%), Bitcoins can be transferred (almost) for free. This means that Bitcoin casinos have lower costs (as the credit card fees are usually paid by the casino) and can therefore offer bigger bonuses.
Fast transactions: Compared to wire transfers or cheques, BTC transfers are made much faster, usually within couple of minutes. This also means that cashing out winnings from a Bitcoin casino is normally just a question of 24 hours or less.
Worldwide usage and privacy: Bitcoin transactions are made anonymous. And Bitcoins are not tied to a country. This means that players from countries that are blocking payment providers (such as credit cards) still have a way to gamble for real money. And due to the anonymity, huge winnings can potentially be hidden on a computer. Now please note that I do not suggest to play for real money in countries where online gambling is not allowed. I just speculate that the anonymity and privacy provided by Bitcoins will lead to a boom at casinos accepting Bitcoins.
Superior graphics and games: Please have a look by yourself at one of the most popular bitcoin casinos, Betcoin. Compared to the traditional online casino games, the slot machines at Betcoin just look superior. The reason is that Bitcoin casinos are much newer, and therefore they are using the most up-do-date casino software, while many of the older online brands are still using software and graphics that were developed 5+ years ago.
So my guess is that Bitcoins and therefore also Bitcoin casinos will become much more popular over the next few years. Stay ahead of the crowd and get familiar with Bitcoins already now. Two of my favorite places to play are:
Betcoin Casino – play 200+ games, win huge poker tournaments and make live bets on all major sports at one single place, with excellent graphics and a 100% deposit bonus
Cloudbet – huge jackpots in slots and 3D slots, live dealer casino for Roulette, Blackjack and Baccarat, Signup-Bonus of up to 5 BTC
Your Doctor Jackpot
PS: What about you? Did you ever play at a Bitcoin casino like Betcoin? Which is your favorite one and why? Just send my your thoughts by hitting the “Ask Doctor Jackpot” button.