Top 5 Reasons Why You Should Gamble with Bitcoin
While there are several different cryptocurrencies out there, bitcoin is easily the most popular. In fact, people who do not even know what a cryptocurrency is are likely to know what bitcoin is. More online casinos are starting to accept it too. So, why should you gamble with bitcoin? That is what the team at All Gambling Sites are going to look at.
#1: It is anonymous
Well, maybe not as anonymous as it normally would be with bitcoin, this is due to various rules and regulations in place. However, it is still far more anonymous than taking money out of your bank account and putting it into your online casino account.
There is no ‘validation’ process in place. Nobody cares if you are using your bitcoin for gambling (some payment systems will not allow you to deposit money into gambling accounts, for example)
While this is not genuinely an issue when you play at a UK casino, people do love the transparency of Bitcoin. Because every single transaction is made out there in the open, it is impossible for an online casino to claim that they never received the payment that you sent them. This keeps them honest.
However, as stated, this is unlikely to ever be an issue that you will run into with an online casino in the United Kingdom due to how strict our rules and regulations are in this country when it comes to gambling, online or otherwise.
#3: Bitcoin Value
As I write this, we are at the start of 2018. At the tail end of 2017, Bitcoin dominated the news stations. This is because the price of it was sky high. While it has fallen somewhat since then, it is still a decently valued currency.
If you have some bitcoin kicking about, then this should provide you with a decent sum of cash that you can use to gamble at one of the many bitcoin gambling sites out there.
It is probably worth noting at this stage that, in most cases, you will not actually be gambling with the bitcoin directly. When you pay the online casino, the transaction will go through a payment system first.
The payment system will then give you money for your bitcoin. Basically, in your local currency. A bit may be trimmed off the top to cover the transaction fee and as a little bit of profit for the payment company (they are not the online casino), but it should be very close to the real value of the bitcoin.
Many people will actually put money into their online casino account from bitcoin when the value is high. In theory, if the value plummeted shortly afterwards, you could still make a loss at the online casino and walk away with more money than if you had kept your hands on the bitcoin, which is quite awesome. It is not a good investment strategy, but we still like this one of the benefits.
Remember; you will be withdrawing money in your local currency as opposed to bitcoin. There are a few online casinos which work in bitcoin only, but these are few and far between. All of the online casinos that we recommend at the end of this page will accept payment from a multitude of different sources. We tend to prefer these casinos, mainly because you can continue to gamble there even if you do not have much in the way of bitcoin left.
#4: Cost Effective
In many cases, you may find that the transaction fees when you work with bitcoin are often a lot lower than with any other currency, although this is going to be dependent on the online casino that you are using.
#5: It is quick and easy
In our experience, if you deposit money into your online casino account using bitcoin, it tends to be a lot quicker than if you were depositing normal money. We have no idea why this is, but for most online casinos it tends to be near instantaneous, this means that you can start to gamble sooner as opposed to later.
Want to get started with Bitcoin Gambling?
Luckily for you, we here at All Gambling Sites are well ahead of you on this one. We have been gambling with bitcoin for a good few months now, which means that we can easily recommend some top-notch sites to you. Our favourite UK Bitcoin casinos listed below, if you are looking for USA Bitcoin Casinos click here