Gambling is a risk; but not if you use Bitcoins. This first decentralized digital currency is not controlled by any national government, thus its value is not standardized. It may be volatile but in the world of online games and casinos, this is a good thing.
Why? You may ask. Just take a look at this scenario: if you are an avid online player who uses fiat currencies, with every bet, you are losing money and if you want to win, you either need to bet a huge amount in different games.
Yes, there will still be losses in Bitcoin but it’s not as big compared to paper money because of its always fluctuating value. Let’s take a look at these different scenarios and to why you need to consider gambling using bitcoin.
Scenario 1: Bigger Winnings
As mentioned above, bitcoin moves like a rollercoaster—one moment it is high and in the next, it is down. But this should not discourage from using it because it leads to good opportunities. For example, if you won a bitcoin casino for $500 and hold onto to it for some time and decides to sell it today, its value is already double. In a sense, a player who won bitcoins can watch its value soar until the day that they decide to dispose it.
Scenario #2: You don’t need to input a lot of information
One of the factors that discourage people from playing in online casinos is the hodgepodge of information you need to give just to start playing. But if you choose bitcoin gambling sites, it does not require personal information and allows players to play anonymously without the need for any documentation.
Of course, there are still risks involved here but it is very little compared to sites that require your credit card information or citizenship. And with the security efforts that bitcoin casino sites offer their players, rest assured that you can play to your heart’s desire the games that you want to play.
Scenario #3: No need to worry about security
Even though online bitcoin gambling sites do not require you to put your personal information, this doesn’t mean that they are short in employing security measures. Bitcoin transactions are still vulnerable to cyber attacks, albeit minute one, but there are programmers and developers who continually create firewalls to keep off these attackers out of the Bitcoin infrastructure.
And come on, who have heard of a massive bitcoin attacked that overthrew the system? None yet. Instead, bitcoin comes out always stronger than ever. And with the massive support that it’s getting from media and different sectors, one can only have positive hopes for it.