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Cryptocurrency and iGaming

Cryptocurrency and iGaming

Having appeared in 2009, the world’s first crypto currency – Bitcoin, made a lot of noise after a couple of years due to its rapid growth. Some did not understand how to relate to the new kind of money, others called the cryptocurrency the future money, and the states of many countries, unable to control Bitcoin, still decide how to regulate this phenomenon in the world of finance.

Cryptocurrency and iGaming

The Bitcoin rate is constantly growing, cryptocurrency can already be paid in regular online stores, and even online casinos are created that operate exclusively on virtual currency. So what is cryptocurrency?

Cryptocurrency is a new generation of virtual money. Their history does not last for 10 years, but economists speak of them as a currency of a new generation. According to them, already now the crypto-currency is a worthy competitor to the fiat money (state currencies), and in the future can completely supersede it from the sphere of electronic payments.

The history of crypto currency began in 2009, when the first digital currency – Bitcoin was created. At the same time, the real name of the creator of this electronic financial system remains a mystery to this day – a programmer or a group of programmers who wrote the Bitcoin code are known to the world under the pseudonym of Satoshi Nakamoto.

Is it ideal for online casino?

Bitcoin attracts the attention of leading online casinos around the world, and Bitcoin is especially suitable for this. The encoding research revealed that the Bitcoin program data resembles the functions of online poker. There are a number of other reasons why some online casinos like BitStarz and Oshi accept payment in Bitcoins to play online slots. Some of them represent benefits directly to the casino, others are motivated by what is convenient for customers.

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The fact that Bitcoin has minimal transaction costs, or does not have them at all, as well as the speed of investment and withdrawal of funds, attracts the casino. The security system, based on the blockchain, provides an additional level of security and protection for casual scammers.

While the speed of transactions is very important for players, the other positive side of Bitcoin, which attracts users the most, is personal anonymity. Usually, the casino requires only an email address and data on the Bitcoin-wallet, without requiring bank data and instructions for registration. Since players in online casinos are rather prudent persons, this aspect is of great importance.

It seems that the Bitcoin time has finally come

The fact that Bitcoin is a digital currency makes it ideal for gaming sites. Players can be 100% sure that the game is fair and that they have the same chances to win as in a real casino.

The growing popularity of cryptocurrency means that an increasing number of people consider it to be a real currency. Online casinos refer to Bitcoin more and more loyal, thanks to the advantages in the field of convenience and security that it provides.

It is popular among players, due to the high transaction speed and ensuring anonymity. Everything says that cryptocurrency will be used increasingly in the future.

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