Cryptocurrency is the hottest topic in the finance industry these days. Indeed, this technology can greatly benefit many areas of our lives. One of such is the way casinos are receiving deposits. Check out this article to get to know more news about casino and this revolutionary Bitcoin bonus!
Despite the skepticism of most economists in relation to BTC (the designation for Bitcoin), the coin grew by leaps and bounds, and in 2021 managed to make an incredible leap, rushing to the $65 thousand mark. It has become clear that you can earn money on cryptocurrency. People who know how cryptocurrency works make large sums in this business.
Eventually, the idea has arisen to create a Bitcoin casino – a playground where gamblers can place bets not with dollars, euros, or other national currencies but with BTC. The idea was not supported by many existing casinos: due to the volatility (price variability) of the cryptocurrency, there was a risk of “going bankrupt”. However, those who risked turned out to be in a big plus – both the casino and the players won.
Hence now casino owners have a great way of encouraging visitors to gamble on their platforms – Bitcoin bonus.
Why Bitcoin pro bonus is the best deal for casinos
All casino business holders who have tried Bitcoin deposits at least ones know about its main advantages:
- privacy (confidentiality);
- transaction speed (several minutes);
- absence of taxes and commissions;
- possibility to earn extra money if the cryptocurrency market grows;
- etc.
BTC casino privacy
The first and foremost advantage of using cryptocurrency in a Bitcoin casino is the privacy that it provides to both casino owners and players. Third parties are not given access to your personal and financial information. Plus, you won’t have any problems with chargebacks associated with standard credit cards. According to many countries’ legislation, they have yet to legalize online gambling.
Ease of transactions
Some banking institutions do not carry out transactions to and from gaming websites, and players are left with no choice but to look for alternative funding methods. In this respect, Bitcoin is the best option. The transaction is not processed by a third party (bank). You don’t need to link a credit/debit card to pay with Bitcoin.
Transaction speed
Another advantage you should be aware of is that deposits and withdrawals with BTC are instantaneous. In fact, most modern payment systems offer instant deposits, but withdrawals take at least 2-3 days. If you use cryptocurrency, the money won can be withdrawn. When you send money to the casino’s Bitcoin address, the desired amount is transferred immediately after confirmation.
No taxes and commissions
Bitcoin is not taxable. Using BTC to deposit/withdraw funds is cheap as you don’t have to pay for banking. Moreover, transactions are anonymous, which is another advantage.
Demonstrable honesty
Any player can prove mathematically that the results were not tampered with and that no one was able to influence the game. This algorithm first appeared in SatoshiDICE, one of the first (if not the first) Bitcoin casinos.
It was originally used for playing dice, but then it came to be used in other variations as well.
Crowdfunding
Some Bitcoin casinos use the crowdfunding principle. Users invest in a project that benefits both parties. Investors receive additional profits, and the casino can afford to make higher rates due to additional funding.
Bitcoin era crypto bonus protection from fraudsters
Of course, a Bitcoin wallet can also be hacked if desired. But the protection here is an order of magnitude better than in the case of classic platforms.
How to get a Bitcoin bonus
The most common mechanism for the operation of welcome bonuses involves the following algorithm:
- The user transfers a certain amount (for example, 100 BTC) to the balance of their account at the Bitcoin casino. The system adds bonus funds to the deposited money. The number of the latter can be different: 25%, 50%, 100% or 200% of the credited, and so on.
- The deposit and bonus money is saved in a special bonus account. Often, you will first need to play for the deposited funds and then for a “gift” from the casino.
- In case of winning, bets from the bonus account will bring profit to the “cash” account – from there you can withdraw Bitcoins to your wallet.
- Each casino sets its own bonus money limit – most often, it is 1 BTC. This means that even if you deposit 5 Bitcoins, the site will not be able to add more than one Bitcoin bonus fund to your account.
The secret behind Bitcoin engine deposit bonus
Bonus money often has an expiration date: in such cases, the player needs to spend the funds provided by the casino within a certain number of days or months. If they do not have time to do this, the bonus “burns out” while the credited funds are transferred to the cash account.
Read more: Best Gambling Payment Providers
