Tips for players: Three reasons in favor of bitcoin casinos
Online gambling is a great activity that has been progressing quite fast. Today we get a wide selection of games from dozens of software providers, all types of live casino games, and new games released almost every day. Still, the main revolution in the gaming world is currently happening in the field of payments.
Just a few years ago the first bitcoin casinos have been launched, and today they are gaining the popularity at the speed of light. Let’s discuss the main reasons why one would consider a bitcoin casino instead of a regular one.
Privacy is the key of Bitcoin
When signing up for any online service that includes money in some certain way, complying with KYC procedures is required. Obviously, online gambling has lots to do with money, hence a player must reveal his identity to a casino. And this may certainly be a problem for many players. Even if it is not, it is always better to avoid sharing your gambling habit with an outside world.
Unlike typical casinos, most of the top-rated online bitcoin casinos will not ask you to upload any documents. The main reason for this is that they do not have to comply with the Anti-Money-Laundering procedures, and this way they do not have to make sure that the funds are coming from the payment account that belongs to a casino’s account holder.
Bitcoin support innovative technology
Most of us understand that online gambling is actually a time spent rather than a get-rich scheme. This is why the gaming experience is the ultimate product one buys when he deposits into an online casino. Of course, nerves, emotions and the feelings of winning big are priceless and are solely attributed to the gameplay, yet the sounds, visuals and other game mechanics actually matter a lot.
Current and upcoming regulation Bitcoin
Gambling is very risky on its own. This is why you do not really want to risk when depositing with an online casino that is not legitimate. Until the year of 2016 all of the bitcoin casinos operated in the grey area.
They were not regulated and could not obtain the regulation. During 2016 the UK gambling regulator has announced that it views bitcoins and other cryptocurrencies as an equivalent to money. And, considering this, it has allowed bitcoin casinos to apply for the gambling license and it made it possible for the UK regulated casinos to accept the deposits in cryptocurrencies.
Apart from the three reasons listed above, there is more. For example, bitcoin transactions come with no or very low costs. Still, it is best to check for yourself, sign up with one of the bitcoin casinos and try it out.