Mar 012014
 

This is a sponsored post by Anna Taylor

Growth of Bitcoin Online Casinos

Those who are at all familiar with the gambling industry will agree that technology has had an incredible impact on its development. Over the years not only have the games and software improved and been expanded upon, but so too have the number of deposit mechanisms that make real money play possible.

From the more traditional credit cards to eWallets and instant eChecks, making a deposit is now simple and seamless. However, with the arrival of Bitcoin and other cryptocurrencies, online casinos have once again had to re-examine the way they accept player deposits.

Bitcoin has rapidly become popular as an online transaction method and cutting edge casinos are recognising this fact, and cashing in.

Advantages of Bitcoin Casinos

Bitcoins are not centralised, which means that no one can take them away from players, or freeze players’ account, thanks to the fact that there is, as yet, no central regulating authority for the currency. Players are the literal owners of this money, and are able to effect total control over their transactions.

Bitcoin purchases are not taxable, thanks to the fact that there is not central authority that would regulate the transactions made by means of this currency.

Bitcoin transactions are totally secure, and it is not possible to steal payment information. There is no requirement for the submission of any type of personal data, and so the possibility of identity theft is not an issue, and no chargebacks are possible.

Expected Growth of the Bitcoin Industry

When Bitcoin first arrived on the scene in 2008, people approached it with caution, and deservedly so. It has, at this point, proven its worth, however, and this cryptocurrency is taking the online world by storm. Everyone from players who enjoy online roulette in Canada to those playing slots in Australia want to be able to transact using this cryptocurrency, and an increasing number of casinos accepting Bitcoin are cropping up across the web.

A number of different types of Internet businesses make use of Bitcoin nowadays, and casinos are just one of the many that have recognised the potential that cryptocurrency has to offer. In some cases cryptocurrencies other than Bitcoin are accepted, and there are several other options available online.

Internet gambling revenue has been increasing by over 8% every year since 2014, and it is safe to assume that this trend will continue. It is the only sector that has indicated a positive growth in spite of the global recession, and Bitcoin is set to augment this even further.

How You Can Get Involved

Players interested in switching to Bitcoins can do so by simply purchasing them and then locating an online casino that accepts this cryptocurrency.

The costs vary quite largely, increasing and decreasing on a regular basis, and players are advised to purchase theirs amid the lower price frames. They are then able to hold on to them as the costs rise, cashing them in once their value has increased, or they can make them use of them at once in order to start enjoying online casino games in a totally new way.

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