The 5 Benefits of Bitcoin in Gambling
Let’s be clear right from the start. Bitcoin and Altcoin (other cryptocurrencies such as Ethereum, Ripple, or Litecoin) are the best things that ever happen to the iGaming industry and its operators since the Internet became a commonplace. It naturally thrives today, thanks to multiple benefits of Bitcoin in Gambling that we will explain in this article.
First Benefit of Bitcoin and Other Cryptocurrencies in Gambling: They are Borderless
This one is the biggest advantage and we only saw fit that we start with it. As it is, cryptocurrencies are not tied to any country. Everyone with a bank account and a crypto wallet can buy coins and use them on the Internet, for any activity willing to accept them. Operators can, therefore, target the whole world for their marketing, or focus on specific places ripe for the opportunities as they see fit. The possibilities are endless.
Furthermore, fiat currencies (USD, EUR, VND, etc) are complex, and converting one to another can make the value depreciate, depending on its strengths and the international news. That not the case with cryptocurrencies. Once players buy them, they use them as they see fit, without having to deal with lengthy conversions processes.
Finally, there is no transaction fee with cryptocurrencies. Banks will not get a percentage of their transfer, leaving player in complete control of their own money. Operators profit from this methodology as well.
Second Benefit of Bitcoin and Other Cryptocurrencies in Gambling: They Don’t Require Online Casino Licenses
Yes, you read that right. As long as the local legislation and the target market allows it, an operator can start an online casino without the authorizations normally required to do so. Study the situation and see where it is the easiest. On that note, Cambodia is part of those countries. You can use the license of an existing casino to get started, Look it up with us!
Third Benefit of Bitcoin and Other Cryptocurrencies in Gambling: They Don’t Require Gambling Licenses To Apply For Payment Methods
Neteller, Paypal, and other credit/debit card payment methods require licenses. This is not a problem with cryptocurrencies, as they are anonymous, which is another benefit in and on itself. There is absolutely no restriction or barrier to stop avid players from connecting and wagering on their favorite games. Besides, crypto wallets are safe and secure as long as passwords and authentications are set;
Fourth Benefit of Bitcoins and Other Cryptocurrencies in Gambling: Anonymity
Since we mentioned it, let’s talk about anonymity. All cryptocurrency transactions are completely and utterly anonymous. Once players transfer a cryptocurrency, they cannot be traced anymore. Their crypto wallet is only recognizable by a set of numbers and letters. No identification data will ever be requested, which is invaluable in countries where gambling is not recognized as the legitimate pastime.
Fifth Benefit of Bitcoins and Other Cryptocurrencies in Gambling: Transaction Speed
As cryptocurrencies are decentralized, funds come directly from the player’s wallet to the operator’s account – you, with no intermediaries. Reducing the waiting time, players feel more confident and wager more.
We hope that this article has helped you to understand the Benefits of Bitcoin and Other Cryptocurrencies in Gambling. To learn more about this and Bitcoin Online Casinos, we welcome you to contact us, either by mail or phone. Alternatively, you can also browse through our website at www.asialivetech.com