Despite being present for more than a decade, Bitcoin is only started to gain popularity. Nowadays, it’s still not used as much as fiat money, but it’s definitely on the good road to achieving mass adoption.
One type of business that immediately embraced the idea of Bitcoin payments was online casinos.
One of the reasons for that was that Bitcoin was not related to any banking institutions, and cross-border payments were very affordable. Therefore, if you have or want to obtain Bitcoin for playing games online, you should know that some of the best online casinos support it as a valid and reliable payment option.
This cryptocurrency has some advantages over other payment methods, but it also comes with a couple of drawbacks.
The main advantage, besides anonymity and affordable transaction fees, is its speed. Every Bitcoin transaction is very fast, meaning you can make a deposit or withdrawal in just a couple of seconds (we didn’t count the casino pending time for withdrawals).
Finally, Bitcoin is safe and secure. Using blockchain technology, BTC transactions are virtually impenetrable by cyberattackers, so you can be sure that nobody can steal your cryptocurrencies.
There’s one huge disadvantage that comes with Bitcoin. It is a highly volatile cryptocurrency, which means that its price changes rapidly. In other words, if you make a deposit worth $100 in BTC and something happens to cause the price to drop, you can end up with much less money.
By following the same principle, you can end up with more money than you had if the price goes up. Simply put, playing with BTC brings an additional gamble in itself, and you must accept that it’s a risk need to take when using this payment method.
Now that you know the advantages and disadvantages of this payment option, you can decide whether the risk is worth taking.
The good news is that many online casinos offer bonuses for people who decide to deposit BTC, so feel free to explore them to find out more.
One of the online gambling platforms that accept this cryptocurrency and many other payment methods is 5Dimes Casino. Make sure to check it out and learn more about its welcome bonuses, promotions, game collection, available payment methods, customer service, and more.
The casino is one of the oldest in the industry, being established back in 1996, and has gained a great reputation over the years.