Gone are the days when geeks on the internet only held Bitcoin. Today, several e-commerce stores now accept Bitcoin payment, and millions of people use it as a medium of exchange every day.
In the gambling space, the number of bitcoin enthusiasts and online casinos that accept Bitcoin in South Africa and other countries is also soaring.
This helps but begs the question: why are bitcoin casinos in South Africa now popular? And what do players stand to benefit from when they sign up on a bitcoin online casino? This article is your easy guide. Keep reading!
Five Advantages of Using A Bitcoin Casino
The following are the benefits of using a bitcoin online casino over a traditional casino:
- Privacy
The status quo in most online casinos is that players have to complete a KYC process before depositing and withdrawing funds. This leaves the online casino player at the mercy of the gambling platform as they have to trust every website they gamble on with their sensitive information.
Signing up on casinos that accept bitcoin helps solve the privacy problem.
Players don’t need to complete a know-your-customer (KYC) process before depositing and withdrawing bitcoin at a bitcoin casino. Neither do they need to verify their identity before buying bitcoin? Bitcoin casinos, therefore, enable players to gamble anonymously while keeping their identities private.
This enables online casino players from zones where gambling is restricted to bet online without government intervention. It also helps players gamble without leaving traces of gambling records in their bank statements.
- Fast Transaction
Bitcoin is a currency for the free and open economy. It runs on its network and doesn’t require any third parties’ intervention to work.
Since bitcoin cuts intermediary from the process involved in processing payments, bitcoin transactions tend to be quick and instant. It takes an average of 10-20 minutes to pay with bitcoin. Therefore if you choose a bitcoin casino with a quick confirmation time, you can expect to start gambling within the same hour you fund your casino account.
This is incredibly faster than playing on traditional online casinos, where players need to wait for days to move funds to the gambling websites and another few hours to get their transaction confirmed.
- Economical and Affordable
Players lose a significant amount of their gambling budget and earnings due to the exorbitant fees charged by banks and heavy extortion by unscrupulous online casinos.
Bitcoin casinos, on the other hand, are very economical and affordable. The Bitcoin network charges a minimal transaction fee, and players get to retain considerable earnings when they patronize a bitcoin casino that charges a decent commission and operates fairly.
High roller bettors stand the most to benefit when they sign up on casinos that accept bitcoin as the casino helps conserve money when they deposit funds and withdraw earnings.
- Exclusive Bitcoin Casino Rewards
Online casinos attract players to their websites with amazing bonus rewards. Some generous traditional online casinos award a 100% deposit bonus on players’ first deposit, increasing the players’ gambling budget and their winning potential.
The bonus rewards get better on casinos that accept bitcoin. A bitcoin casino in South Africa gives up to a 500% deposit bonus to new players when they credit their casino account, which is far higher than you would see on a traditional online casino. Contrary to your expectation, the bitcoin casino South Africa also has flexible requirements, and their bonus rewards are not difficult to win.
- Removes Geolocation Restriction
Online casino players have always avoided location barriers on gambling websites by using VPN. However, signing up on bitcoin casinos provides an even more convenient way to avoid geolocation restrictions on online casino websites.
Bitcoin is a decentralized currency, and bitcoin casinos are known to be liberal. They accept players from different locations and provide a friendly platform for every bettor to partake in online gambling regardless of their background.
But, signing up at a casino is one thing; playing for real money is another. This makes one wonder how players in zones with strict gambling rules fund their casino accounts without getting sanctioned. Here is another situation where bitcoin casinos find relevance in online gambling. South Africans who want to gamble yet escape the government’s radar can convert their ZAR to bitcoin on a reputable exchange and transfer it to the casino account. This is entirely legal, and you don’t need any money manager to do it for you.
Conclusion
Now you know the benefits of signing up on bitcoin casinos. However, it would help to warn you about the danger of using bitcoin. Bitcoin is a quite volatile asset, and its price varies based on the condition of the general crypto market. Besides, bitcoin transactions are permanent, and you can’t cancel them once you initiate them. So, ensure you learn how to manage bitcoin before purchasing it. We do hope you’ve learned it from this article?
Featured image: forex.academy
Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
Source: https://coindoo.com/top-5-benefits-to-sign-up-to-bitcoin-casino/