Put your money to work and beat the market with a Bitcoin Casino
In recent years, the active advancement of blockchain technology has played a significant role in online transactions. As a result, it appears that the online gambling industry has benefited the most from the use of blockchain technology in crypto gambling. Many bitcoin casinos on the internet prove that crypto gaming is profitable.
Of course, playing a variety of games in casinos using bitcoin is a huge plus, but there are a good number of other advantages to betting with cryptocurrency. Here, we’ve looked at how you can beat the market by playing at a bitcoin casino.
Which online Casinos accept bitcoin
Finding bitcoin casinos is quite easy these days, but reviews are a great way to separate the good from the fraudulent. You can read our 7bit casino review to see if it’s the best bitcoin gambling site for you. Alternatively, our Lucky Fox casino review is available if you prefer more than one bitcoin gambling site.
Apart from allowing you to conduct transactions using cryptocurrency, bitcoin casinos are identical to other online casinos.
The “complication” here derives from the fact that many individuals struggle to grasp the concept of cryptocurrencies. Thankfully, you mustn’t know anything about them to play at online casinos.
All you should know is that they can be a viable and, in many cases, superior option to traditional cash. Most significantly, cryptocurrencies (at least the most extensively used and popular ones) are completely safe and provide a secure and anonymous means of conducting financial transactions. This is especially handy for people who live in countries where internet casinos are illegal or, at the very least, frowned upon.
Cryptocurrency transactions are completely anonymous, have cheap fees, and have large transaction limits. This makes them ideal for online casinos and a variety of other online enterprises.
How bitcoins rising value can make your winnings worth more
If there’s anything the crypto and gambling space share in common, it’s risk and volatility. The same joy that comes with coin prices going sky-high overnight is comparable to the feeling of hitting a massive win on a jackpot slot. Now, it appears that pairing bitcoin and gambling may be a smart way to balance this scary volatility.
Bitcoin’s primary purpose is not to be used as a medium of exchange. Instead, most Bitcoin owners are betting on its price, expecting that this unpredictable asset will skyrocket in value.
Those who bought early and hung on have made a lot of money so far. When Bitcoin first became accessible in 2009, it was worth a cent. It now has a market value more impressive than you’d have expected.
Also, you’re less susceptible to Bitcoin price fluctuation because your Bitcoin investment is magically converted into NZD at the casino. You may have observed that the bitcoin price is always changing concerning because Bitcoin’s value fluctuates like the tide. However, once you’ve made a deposit, online gaming sites will instantly convert your bitcoins to US dollars. As a result, you won’t have to worry about Bitcoin’s price when you’re betting. In addition, the NZD in your account will be changed back to BTC once you’re ready to withdraw.
How to turn your NZD into cryptocurrency to use at a casino
Top Online Casinos that accept NZ Dollar make it easy for a customer also to make a bitcoin deposit. However, learning how to convert your NZD to BTC is an important component of bitcoin gambling. Below are a few easy ways to turn your fiat into bitcoin for gambling.
Bitcoin exchanges are the most practical way to buy bitcoin because of their ease of use and cheap commission fees. Avoid moving BTC straight from the BTC exchange wallet to the casino when purchasing from an exchange.
Exchanges in some countries are regulated barred from executing gambling transactions. As a result, players must first move their bitcoin to an intermediary wallet before depositing it at a bitcoin gambling site.
An online broker is another option for purchasing bitcoin. Brokers are an excellent way for casual gamblers in New Zealand and overseas to buy bitcoin quickly and easily. You can buy digital money via debit cards, credit cards, or bank transfers with brokers.
Finally, bitcoin sports bettors, casino players, and poker players can use Bitcoin ATMs (also known as BTMs). Unfortunately, BTM costs average roughly 7%, making it the most expensive way to buy bitcoin. Although these are normally safe, getting to them can be inconvenient.
Bitcoin versus cash-based casino deposit methods
Traditional payment methods are easily accessible to players, but bitcoin seems to have more advantages. Below are some of the major differences between using bitcoin and cash-based deposit methods.
- Privacy: If gamblers have nothing to hide, you may wonder why the privacy of a currency should be considered. Even though gambling is not banned in many countries, it always seems to have a negative connotation in society. If people know that you gamble, they may assume that you’re a bad person, that you’re immoral, or that you have a problem with gambling.
Gambling may be associated with these things, but it’s just for pleasure for the most part. The pseudonymous nature of Bitcoin allows enjoyment of gambling without the fear of being scrutinized by those around them. Other payment methods expose your identity and other crucial details.
- Security: Bitcoin may be the most secure crypto in existence if you store it appropriately. You’re unlikely to have to worry about someone taking your money, unlike with other payment methods. Credit cards and PayPal are not this safe.
The next time a gambling website is breached and your credit card or PayPal account information are obtained, you are now a prime target for the hacker’s attention.
- Instant Payments: Although the block size issue has caused some delays in recent transactions, bitcoin payments are still lightning fast. The majority of transactions are confirmed instantly, but a small percentage may take several hours.
Payments made using bitcoin only take a day or two to be confirmed. On the other hand, a bank transfer can take up to five business days to complete. A week or sometimes more can pass before an international transfer is cleared — even worse.
- Optimized for Online Gaming: Bitcoin was created specifically for use on the internet. Because of this, this digital currency is a near-perfect answer for online gambling websites.
This isn’t the way credit cards, bank transfers, and other fiat payment methods were meant to be used. That much is clear from their sluggishness, expense, and inefficiency. However, prior to the invention of bitcoin, the public was left with few options.