In recent years Bitcoin has taken the world by storm, so it shouldn’t come as a surprise that Bitcoin is now being accepted as a form of payment by a wide array of popular online casinos. You can use your Bitcoin wallet to play with live dealers and purchase other products online too. To discover how Bitcoin is being used in online casinos, simply continue reading to find out everything you need to know about Bitcoin’s use in casinos!
The Rise of Bitcoin and it’s Use in Online Casinos:
Bitcoin is the world’s first decentralized digital currency and was released in early 2009. Unlike other forms of currency which are regulated by financial institutions such as banks and governments, Bitcoin is anonymous currency which in stored in anonymous digital wallets.
In recent months online casinos, have begun to accept Bitcoin as an official form of payment. One reason why some gamblers may prefer to use Bitcoin to credit their accounts, is in the hopes of winning a jackpot of Bitcoin.
Why do players want to win Bitcoin at online casinos?
When a player receives their Bitcoin earnings, as the Bitcoins contained in a Bitcoin wallet are unmarked and can’t be easily tracked by governments and tax departments, players may be able to keep, save and spend their Bitcoin, without having to declare any of their winnings to their government. However beware that choosing not to disclose your winnings as income to your government, could still get you into trouble as different countries have different regulations when it comes to the declaration of Bitcoin.
Another reason, to try to win as much Bitcoin as you possibly can is that the earnings which you collect, willmost likely double in value over the coming years. As an example, if you purchased $100 of Bitcoin in 2010, your investment would now be worth $75 million dollars. While you may not be able to turn $100 which you collect in a Bitcoin casino today into $75 million dollars, if you were to win $100 dollars worth of Bitcoin, the same amount of Bitcoin could double or triple, in the next few years.
As an added bonus if you’re uncomfortable with the idea of giving an online casino access to personal information, which is linked to your credit card such as your full name, your address and your credit card number itself, it’s far safer using a Bitcoin to credit your account.
Where can you spend Bitcoin?
You may be curious as to where you can spend your Bitcoin earnings. The great news is that you can use Bitcoin to book overseas vacations on sites such as Expedia and use Bitcoin to purchase electronics, clothing and gifts from a wide array of well known stores. You can even use Bitcoin to purchase online gift vouchers for popular shops like Sephora and Wholefoods. Alternatively, you can use Bitcoin to purchase goods in physical stores as well as online stores.
If you are excited by the idea of being able to win Bitcoin, by playing online casino style games, it’s well worth searching for a reputable online casino which accepts Bitcoin as payment!