If you’re anything like me, you heard the word Bitcoin and jaw dropped immediately, if not sooner. Bitcoin has been in operation since 2007 but has only recently become quite big. It has become a part of the way society as a whole purchases and sells goods online and is essentially a virtual currency.
YES, I’ll bite. There was a time where Bitcoin was considered taboo and seen as a third-party money-laundering tool. Now, it is taking over and is hugely popular amongst online casinos as an acceptable deposit and withdrawal method. In fact, Bitcoin arguably owes its success to the online gambling industry. At first, casinos in Las Vegas started to accept Bitcoin payment for small items before introducing it as a viable payment option.
Bitcoin has gained such popularity for a number of different reasons however, a few notable ones include: zero fees!! There are absolutely no transaction fees associated with Bitcoin. Casino operators can therefore offer players better odds and higher payouts due to the lack of fees. Bitcoin has the potential to reach a much larger market as anyone can use this peer-to-peer currency so long as you have access to the internet.
One thing to keep in mind if you’re deciding to use Bitcoin: the payments are non-reversible which is great for operators since there will be no chargebacks however, a little more daunting for the average player. What are you waiting for? Jump on this Bitcoin bandwagon 🙂