using bitcoin 820x410 - Is Cryptocurrency a Viable option for Casino Deposits and Withdrawals

Is Cryptocurrency a Viable option for Casino Deposits and Withdrawals

The first thing I want to explore is Bitcoin. Although, many argue that it does meet the criteria for an exchange, it does fall short in other areas. Number one, there is no value to it. Now, some might say there is no value on cryptocurrency whatsoever(and, to a certain extent, they would be right). Number two, it fails concerning any unit of currency. That means there is no way a coin store can create a long term inventory for it. The main reason for that it is too volatile. The other issue is that it is not considered “real money”. That means there are mo restrictions guarding it. The normal rules for money do not apply here because it is not real money. No regulations means that you stand a greater chance of not recouping the losses if you have any. That being said, many have found there are some benefits to using cryptocurrency(like Bitcoin). We will discuss a few of the benefits below.

1)Makes Gambling Easier

You can play from the comfort of your home without worrying about theft. Cryptocurrency is not regulated the way traditional money is. That means you can use it to make deposits(even withdraws wherever possible), and not worry about giving out personal information. This option does require any information through the e-wallet channel. You only have to give out the information required and that is it.

2)Casinos Using Cryptocurrency

Every casino offers will crypto will have categories for each selection. Some of the casinos offering the crypt platform include Bistler Casino, Bitkong Casino, mBit Casino, and Crypto Wild. Now you might not want to use those casinos, but this gives you an idea. Some like to use Ethereum(which is like Bitcoin) for their deposits. This option also allows for withdraws. Those who want to use Ethereum will have luck using casinos like BC. Game, Cloudbet Casino, Crypto.Games Casino, and Duckdice Casino. Since cryptocurrency allows for an easier transaction process, you will not have to worry about slow payouts rates.

Types of Currancys 880x440 - Is Cryptocurrency a Viable option for Casino Deposits and Withdrawals

3)Sports Options

Cryptocurrency is becoming more popular for those who like sports betting. There are five main components to sports betting. They are Money Line, Point Spread, Parlays, Futures, and Props(which is more of a long-term thing). You should have no trouble finding a crypto-friendly sports betting site for your enjoyment. Choose a site that is both crypto-friendly and e-sports betting friendly. You can also use Altcoin on some of the sites. Altcoin is similar to Bitcoin and Ethereum in many ways.

4)Free Money

Let me explain this one. What I mean by “free money” is that you do not have to pa taxes on it. I think I might have covered this in the last article, but let me refers your memory. What is working in your favor is that cryptocurrency is not regulated(right now). You know how you pay taxes on your hard-earned money every year? Well, you do not have to do that with crypto. Although, as I had stated before, that could change. The government is very much aware of what cryptocurrency is. Some of your senate members have used it themselves. They just will not tell you about it. They are looking to try to regulate it in the future. Right now, they have hit a roadblock regarding those talks. That is why you should take advantage of this for as long as you can(but do not abuse the privilege). Unregulated currencies fly under the radar.

5)You Get Money Back

This kind of goes along with the tax-free idea. Since you are not paying taxes on Bitcoin and other cryptocurrencies, you can save money. You can use that saved money for other bills or to play more. The choices is yours. Either way, take advantage while you can. Some of you might have already read my statements on this, but it does bear repeating.

Priority Mail: Destination Anonymity

The other great thing is you are not tied to the same notices that others are. Many online players want to have more anonymity than they currently do. That is why this could be a viable option for many of you. No one will know who you are and when you play(which could be a benefit for many players). The one downside is that a high level of anonymity means that your risk of losing money becomes greater. Someone could come in and steal your money(if they are lucky to get inside the system), and there is nothing anyone can do. The reason for that is the non-regulation component. Non-regulations means that there is nothing to tie it to. You have to take the good with the bad.

What Does The Future Hold?

Only time will tell. Right now it is very popular among online players for deposits and withdrawals. That could change. There is no way to predict what will happen. Stay tuned.