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BETA   •   FRIDAY, OCTOBER 30TH, 2020

Why Cryptocurrency Gambling is Becoming Popular These Days

October 12 Sandra Wong

Cryptocurrency gambling is becoming an industry of its own. More and more people are starting to use cryptocurrencies like Bitcoin, Ethereum, and Litecoin on gambling sites these days. The interest in cryptocurrencies mainly grew in 2017 when its value has peaked at around 20,000 US dollars per coin.

Initially, people would only use cryptocurrencies for trading and investing, but the gambling industry also welcomed its use. Whether it’s online casino gaming or sports betting, there are gambling sites right now that would accept cryptocurrencies. There are a few great reasons why the use of cryptocurrencies is becoming a more favored option by many and here are some of them.

  • Convenient

For people who would like to gamble online, there are a few things to consider. It’s important that they choose a reputable online casino or bookie and you check sites like acebettingsites.co.uk for this. Once they find the right gambling site, another important thing to consider is how they can make a deposit and withdraw from their account.

When it comes to this, there are already a few great options out there. People would choose cryptocurrencies because of how easy it is to make a transaction with it. You only need to send your money to a wallet address and you’re good to go. Transactions with cryptos are also typically real-time. 

This matters if you would gamble outside the country. Banks would sometimes give gamblers a bit of a hassle whenever they try to use their accounts in activities like gambling especially if they are outside the country. This is something that crypto gamblers don’t have problems with because cryptocurrencies are decentralized. There’s no need for someone else to process your transactions with cryptos.

  • Could be cheaper

Since cryptocurrencies are decentralized, no one gets involved in processing your transactions. And so, unlike banks or third-party services, someone needs to get paid to get transactions processed. Cryptos, on the other hand, doesn’t require any of that.

This is why it is generally cheaper to use cryptocurrencies. Even gambling sites would prefer this because they won’t need to pay as much for payment processing services for this. 

Since the value of Bitcoin and other cryptocurrencies change a lot, this can also be taken as an advantage for people who would like to double or even triple the value of their money. Basically, you can exchange your fiat currency into crypto today for a certain amount and possibly be getting more value the next day. It’s a great way to maximize the value of your money especially if you can afford to wait for the value of cryptos to rise even more.

  • Safe, Secure, and Private

It’s also very easy to trace transactions made with cryptocurrencies. Since no one else is involved with the transactions you make, tampering is also close to impossible. This is why many see this as a safer option.

Some consider this as a safer option because they no longer have to provide their personal and banking information every time they make a transaction with a gambling site. They only need a wallet address and they’re good to go. Many gamblers like to be private when it comes to their gambling activities. If you use Bitcoin or other cryptocurrencies, you can basically make a deposit to an online casino account anonymously.

  • Can now be used in other online transactions

Since more and more people are using cryptocurrencies, this is becoming more widely accepted on the internet. Aside from gambling, there are other things that you can do with your Bitcoin as well. You can do online shopping with this too.

You can now purchase digital and non-digital goods with your cryptos as more and more e-commerce platforms are starting to accept this as payment. An example is Shopify, which recently partnered with Coin Payments for crypto transactions to be processed.

Aside from shopping, you can also use cryptos when it comes to investing. There are many start-up businesses that would do crowd-funding or set IPOs that accept cryptocurrencies. If you’re not a fan of getting involved in investments, then you can just decide to keep your cryptos in your wallet and wait for its value to rise.

Currently, a Bitcoin is already valued at around 10,700 USD and it’s been a while since it passed the 10,000 value mark. There are experts who are saying that there is a chance that a Bitcoin could peak once again even before the year ends.

Initially, people would only use cryptocurrencies for trading and investing, but the gambling industry also welcomed its use. Whether it’s online casino gaming or sports betting, there are gambling sites right now that would accept cryptocurrencies. There are a few great reasons why the use of cryptocurrencies is becoming a more favored option by many and here are some of them.

  • Convenient

For people who would like to gamble online, there are a few things to consider. It’s important that they choose a reputable online casino or bookie and you check sites like acebettingsites.co.uk for this. Once they find the right gambling site, another important thing to consider is how they can make a deposit and withdraw from their account.

When it comes to this, there are already a few great options out there. People would choose cryptocurrencies because of how easy it is to make a transaction with it. You only need to send your money to a wallet address and you’re good to go. Transactions with cryptos are also typically real-time. 

This matters if you would gamble outside the country. Banks would sometimes give gamblers a bit of a hassle whenever they try to use their accounts in activities like gambling especially if they are outside the country. This is something that crypto gamblers don’t have problems with because cryptocurrencies are decentralized. There’s no need for someone else to process your transactions with cryptos.

  • Could be cheaper

Since cryptocurrencies are decentralized, no one gets involved in processing your transactions. And so, unlike banks or third-party services, someone needs to get paid to get transactions processed. Cryptos, on the other hand, doesn’t require any of that.

This is why it is generally cheaper to use cryptocurrencies. Even gambling sites would prefer this because they won’t need to pay as much for payment processing services for this. 

Since the value of Bitcoin and other cryptocurrencies change a lot, this can also be taken as an advantage for people who would like to double or even triple the value of their money. Basically, you can exchange your fiat currency into crypto today for a certain amount and possibly be getting more value the next day. It’s a great way to maximize the value of your money especially if you can afford to wait for the value of cryptos to rise even more.

  • Safe, Secure, and Private

It’s also very easy to trace transactions made with cryptocurrencies. Since no one else is involved with the transactions you make, tampering is also close to impossible. This is why many see this as a safer option.

Some consider this as a safer option because they no longer have to provide their personal and banking information every time they make a transaction with a gambling site. They only need a wallet address and they’re good to go. Many gamblers like to be private when it comes to their gambling activities. If you use Bitcoin or other cryptocurrencies, you can basically make a deposit to an online casino account anonymously.

  • Can now be used in other online transactions

Since more and more people are using cryptocurrencies, this is becoming more widely accepted on the internet. Aside from gambling, there are other things that you can do with your Bitcoin as well. You can do online shopping with this too.

You can now purchase digital and non-digital goods with your cryptos as more and more e-commerce platforms are starting to accept this as payment. An example is Shopify, which recently partnered with Coin Payments for crypto transactions to be processed.

Aside from shopping, you can also use cryptos when it comes to investing. There are many start-up businesses that would do crowd-funding or set IPOs that accept cryptocurrencies. If you’re not a fan of getting involved in investments, then you can just decide to keep your cryptos in your wallet and wait for its value to rise.

Currently, a Bitcoin is already valued at around 10,700 USD and it’s been a while since it passed the 10,000 value mark. There are experts who are saying that there is a chance that a Bitcoin could peak once again even before the year ends.

 

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