2020 was quite a year for many people and businesses. However, for cryptocurrency users, it was a great year for Bitcoin. Since 2017, the value of Bitcoin has once again peaked and in February 2021, it even came close to almost 60,000 US dollars. With this, we’re sure that more people are finally getting into cryptocurrencies.
As cryptocurrencies start to become more popular, many businesses and online platforms are also starting to make use of them to transact with their customers. E-commerce platforms, online games, and even the best bitcoin casino would now accept cryptocurrency transactions daily.
Rise of Crypto Gambling in Numbers
SoftSwiss Game Aggregator 2020 corporate report has shared that 2020 was a great year for crypto gamblers. Andrey Starovoitov, the COO of SoftSwiss, has said that the absolute and relative value of cryptocurrency gambling traffic has increased threefold in 2020 and this is compared to the 2019 data that they have.
SoftSwiss is one of the leading online casino software providers worldwide. Today, the company takes pride in being the leading Bitcoin gaming software provider. Because of this, they are now ensuring that they remain the best Bitcoin gaming software, provider.
The SoftSwiss 2020 report also highlighted that cryptocurrencies are now actively used throughout the world. Countries like Canada, Russia, and Latin America are also now showing interest in its use.
Starovoitov also spoke about how Bitcoin is becoming part of the mainstream. He said Bitcoin is no longer exotic. In the coming years, we expect to see even more gaming studios supporting cryptocurrencies in their games, as well as casino operators integrating new crypto payment methods for their players.”
Why People are Now Choosing to Gamble with Bitcoin
There are a few great possible reasons why people are switching to crypto gambling. Here are some of the most common reasons why.
- Privacy
What’s great about transacting with cryptocurrencies is that every time you do so, it’s not necessary to disclose any of your personal information and banking details. Whether you want to use Bitcoin, Ethereum, Ripple, Litecoin, or anything else, you will only need a wallet address and/or account destination tag.
This way, gamblers can deposit their gaming accounts anonymously. Anonymous gambling is made possible by no-registration casinos as well. These casinos online would usually allow Bitcoin deposits which make gamblers play limited games anonymously.
- Generally Cheaper
Even for online gambling operators, it is generally cheaper to transact with cryptocurrencies. These operators would only pay a fraction of what they would pay for fiat transactions to be processed when it comes to processing crypto payments.
This is why many Bitcoin casinos would allow their customers to withdraw their winnings right away. This then makes gambling cheaper for players because a minimum requirement for withdrawal would usually mean that they would need to spend more money.
- Better Promos and Bonuses
Since it’s cheaper for online casino operators to process cryptocurrency payments, they get to offer better promos and bonuses to their customers. If you’re after ensuring that you get more than your money’s worth when gambling, then take advantage of big promos and bonuses that Bitcoin casinos would offer.
- A Great Way to Avoid Gambling Transactions on a Bank Account
Some players are making the effort to avoid gambling transactions on their bank accounts to avoid certain privileges like taking out loans or mortgages. Players would use digital wallets like Skrill or PayPal for this, but many are now choosing to use cryptocurrencies as well.
- To Avoid Geolocation-based Restrictions
There are places wherein online casinos are not yet allowed. In the US, only a few states are allowed to run online casinos locally like New Jersey. Because of this, players outside NJ can’t enjoy their favorite casino games.
A great way to avoid these geolocation-based restrictions is by playing on a Bitcoin casino site. Cryptocurrencies are not yet regulated in many countries and this is why existing laws or restrictions on gambling don’t cover Bitcoin casinos just yet.
This also means that online gambling would be less of a hassle if a player is traveling a lot. There’s no need to convert your money to a different currency every time. Bitcoin is Bitcoin wherever you are in the world.
Conclusion
Overall, privacy and convenience are the main reasons why more people are switching to cryptocurrency gambling. Add to that the current value of Bitcoin. The rise of its value made cryptocurrencies gain more users and that only means that there are now cryptos out there to be spent. With that, we can expect that Bitcoin casinos will get more customers this year and even in the coming years too.
