Bitcoin has been setting new all-time highs since 2024 started and it could peak to $146 000 according to financial experts from JP Morgan. Although the cryptocurrency is incredibly volatile, it has been attracting support left, right, and center.
Billionaires like Elon Musk and Mark Cuban have already invested in it. What’s more, brands like Microsoft and eBay now allow you to use it as a payment choice. In the casino space, nearly every brand now accepts Bitcoin payments.
What’s the appeal about Bitcoin? Why is it getting so popular in the casino sector in 2024?
Bitcoin is a hot investment
Bitcoin has been trending on nearly every financial magazine this year. It’s a hot investment that almost doubled in value between September 2020 and March this year. Its bullish trend isn’t about to go anywhere, which is why more and people are investing in the coin.
There are numerous ways to use cryptocurrencies. Most people hold it for speculative reasons. However, you can also use it to buy pizza, pay school fees, purchase electronics or gamble online.
For gamblers, playing slots or card games like poker and blackjack is one of the best ways to spend Bitcoin profits. And when you win, it’s an added advantage because your cryptos could increase in value.
In case you’re wondering, Zamsino has an in-depth guide to the best Bitcoin casinos online. The website ranks the best operators based on ratings, bonuses, games, and payment methods. It also explains the best features about every operator, whether it’s the best casinos for PayPal or the best websites to get a cashback bonus.
Increased safety
Bitcoin launched in early 2009. By 2024, it was pretty popular with merchants on the dark web. Due to that, it gained a reputation as the cryptocurrency of choice for criminals on the Internet.
Over the years, Bitcoin was adopted by the general public but it didn’t earn people’s confidence until financial institutions, big brands and billionaires started to use it. These days, the coin’s reputation has improved so much that few people question its safety.
Although you can lose your coins by losing your BTC wallet or getting hacked, you can transact with the digital currency safely. All you need is to join a safe Bitcoin casino. Also, you should learn how to secure your cryptocurrencies.
If you don’t feel confident about gambling with crypto, you can always use fiat money. This website can help you find the best online casino for you. It lists dozens of operators, compares their bonuses, and explains why you should join different brands.
You can gamble anonymously
There are two types of Bitcoin casinos. There’s the traditional type – regular casinos with licenses from jurisdictions like the UK and Malta. Then there are exclusively Bitcoin casinos: based on blockchain and don’t always operate with a license.
The first type of casinos requires registration and identity verification. They must enforce identity verification by law. Blockchain-based casinos, by comparison, are not governed by governments and have the freedom to enforce identity verification or not.
If you would like to play casino games without necessarily revealing your identity, then it’s possible with the help of Bitcoin. Some Bitcoin casinos don’t even ask your name. They give you a link you can use to login and manage your account. Everything else operates anonymously.
Bigger bonuses
Most online casinos give out bonuses to their customers. But the amount is usually smaller than what you can get by depositing through Bitcoin. Picture this. The average casino matches your first deposit 100% up to $100.
By comparison, some Bitcoin casinos match your Bitcoin deposits for a maximum of five Bitcoins. To be clear, Bitcoin has been hovering between $50 000 and $60 000 in value since February. As such, a bonus of one Bitcoin is worth at least $50 000.
If you receive one Bitcoin as a bonus and hold it for a week, there’s a chance it could increase to $55 000. This would never happen with fiat money like the dollar. Your $100 bonus will likely be worth $100 a week afterward.
Quick, low-cost payments
Let’s be honest. Bitcoin isn’t the best cryptocurrency for completing quick low-cost transactions. But it still blows many fiat payments out of the water in the same regard. Withdrawals to banks can take up to five days. With Bitcoin, the payment lasts only a few minutes.
Sure, many e-wallets have quick transaction speeds. But compared to some altcoins, they lag behind. Cryptocurrencies don’t need an intermediary like banks, which helps improve on speed.
When it comes to speed, cryptocurrencies are designed to keep costs low. However, they usually attract miners’ charges – incentives paid out to the people that help verify transactions.
Mobile responsive
Bitcoin casinos would probably not work in 2024 if they didn’t run on mobile devices. Mobile gaming is the future of the casino industry. Fortunately, you can transact with Bitcoin regardless of your chosen device.
You can also play slots and poker at mobile Bitcoin casinos. Speaking of which, these websites have hundreds of games. If you’re a slots fan, you can play popular NetEnt slots like Starburst, Twin Spin, and Gonzo’s Quest.
If you prefer to play table games, you can cherish Texas hold ’em, blackjack, roulette, baccarat, and craps. For clarity, license casinos have the best games. However, you can also find a small variety of games at blockchain casinos.
The rise of altcoins
Bitcoin isn’t the only cryptocurrency in the world anymore. There are hundreds of alternative coins, better known as altcoins. Some of these coins provide better anonymity than Bitcoin. They support scalability better and have lower fees.
Thanks to these coins, people that dislike Bitcoin’s limitations can still gamble online. Many online casinos let you deposit and withdraw using these altcoins anyway. Some of the most popular altcoins include Ethereum, Litecoin, Ripple, and Monero.
To ensure altcoin owners also gamble online, many Bitcoin casinos have tools for converting these coins to Bitcoin. That way, it doesn’t matter what crypto coin you own. You can still gamble at Bitcoin casinos.
Read more: Best Gambling Payment Providers