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Fiat money VS Bitcoin: Why more and more people prefer to play casinos for bitcoins

Fiat money VS Bitcoin: Why more and more people prefer to play casinos for bitcoins

Scified2022-03-07 09:00:00https://www.scified.com/articles/fiat-money-vs-bitcoin-why-more-more-people-prefer-play-casinos-bitcoins-14.jpg
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The online gambling industry has grown massively throughout the years. That's a fact. But what caused such a huge increase in online gambling popularity? There can be several reasons for this.

First, online gambling allows players to do their favorite activity - which is to gamble - without having to leave the comfort of their homes. Also, gambling online allows players to choose from hundreds of different games, and choose the one that perfectly suits their interests. 

If at any point they get bored, they can easily quit the game and play a new one. All in all, online gambling has it all - comfort, diversity, and most importantly, the basis for providing gamblers a lot of fun.

For more than two decades, the online gambling industry has been growing massively. Most part, it is fiat gambling that is so popular around the world. But, in the 2010s, things have started to change and shift quite a lot in the online gambling market. 

Online casinos around the world have found that offering their clients transactions in digital coins could make gambling even better. Why? Well, it is mainly due to the very nature of cryptocurrencies - high privacy. 

For years, many gamblers have complained about fiat transactions and the drawbacks that these payments were associated with. First, whenever traders would make transactions in fiat currencies, they had to pay high commissions, had to deal with privacy issues, and wait for quite some time for their deposits to be processed. 

Many of these problems have been taken care of by the adoption of cryptocurrencies as payment methods. 

Bitcoin Gambling - Main Advantages Over Fiat

The online gambling market has used almost all the advantages and benefits that cryptocurrencies have to offer. Let’s say that you are a gambler who wants to play a new game, and wants to deposit funds as fast as they can. A great choice in this situation can be cryptocurrencies. 

The recent years have shown a massive increase of bitcoin casino sites available in the market. These casinos allow gamblers to make deposits in a matter of a few minutes, pay less in commissions, and gamble exactly when they want to.

Because of so many advantages that BTC casinos have to offer, many online casinos have adopted BTC as one of the payment methods for gambling. But, what are the actual benefits? 

Faster Than Fiat Transactions

One of the biggest advantages of using crypto transactions over fiat transactions for gambling is the fact that it takes much less time to deposit with cryptocurrencies. In most cases, BTC transactions take just a few minutes and they are very reliable. 

This happens mainly because of the very nature of bitcoin - it is a decentralized payment method that is not controlled by a single entity. Also, thanks to decentralization, using bitcoin for gambling is also cheaper than with fiat money. This happens because BTC is not affected by currency fluctuations or government policies. 

Higher Privacy, Less Restrictions

When discussing the advantages of BTC payments over fiat deposits, it is very important to look at the privacy of these payment options. Whenever you are paying with fiat methods - no matter which one you use - you are very likely to have to provide a lot of your personal information. 

This includes the details of your bank account, your name, maybe even a phone number, and so on. This makes a lot of gamblers feel a bit uncomfortable, as they don’t feel like sharing their personal information is the best idea. 

On the other hand, you have bitcoin transactions, with zero personal information needed. Crypto transactions are known for having very high privacy, which makes them quite attractive for gamblers all around the world. 

Apart from this, when paying with cryptocurrencies, you are very likely to have to deal with much fewer restrictions. Why? The reason is simple - it is almost impossible to track BTC transactions. This means that even if a certain online casino has restrictions regarding your current geographic location, you should still be able to deposit and withdraw funds. 

Being decentralized, BTC has truly a lot to offer to gamblers. In most cases, crypto casinos have little to no restrictions on the amount of money you can deposit or withdraw, which makes your life a lot easier.

So, if you are looking for the best way to deposit funds in an online casino, it is safe to say that the best option that you have is crypto. 

Cryptocurrencies have already managed to change the way people live their lives around the world, but the change does not seem to be finished just yet. There is still a lot that cryptocurrencies can bring into this world, and different industries seem to be more and more involved in the cryptocurrency market. 

The adoption of digital coins on online casinos makes it easier for gamblers to do their favorite activities. With higher security, higher safety, and increased privacy crypto gambling is far better and attractive for individuals around the world than fiat gambling.

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Written by ChrisPublished on 2022-03-07 09:00:00
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