The future of bitcoin in the field of online play

2017 is a year of cryptocurrency. More precisely, this is a year of bitcoin coin. At the beginning of 2017, Bitcoin was worth only $1,000. However, by the end of the year, cryptocurrencies have reached a record $19,783.21.

The phenomenal growth of this digital currency suggests that for many people, bitcoin and other cryptocurrencies are the future of money. On the other hand, many people think that digital currency has no future. Regardless of the situation, the rise in bitcoin prices last year showed one thing - the cryptocurrency will not disappear anytime soon.

Because of the high demand for bitcoin, no industry is willing to give up paying attractive returns. But which industry is most beneficial is a difficult question to answer. However, it is estimated that the gambling industry may get the most out of bitcoin and other cryptocurrencies.

A study by Casino Reports showed that more than 50% of Bitcoin transactions in 2013 were related to gambling. Since 2014, 3.7 million bitcoins have been used for gambling, equivalent to $37 billion. In addition, experts predict that Bitcoin will continue to grow and spread its influence in the online business. But why is Bitcoin so widely used by gamblers?

As you know, online game operators are assigned to take on heavy lifting tasks to ensure their customers are safe on their premises. In terms of payment methods, all major operators spend millions of dollars each year to provide ultimate security for their customers.

While you may think that credit/debit card transactions provide ultimate security in terms of gambling, this is not the case. In fact, it is safer to use Bitcoin for online gambling. The bitcoin news about the online has attracted many people.

First, many banks will check your credit/debit card transaction history when you apply for a mortgage or loan. As you might guess, having a gambling-related transaction record doesn't make you a perfect candidate for neither a loan nor a mortgage. But Bitcoin offers 100% anonymity. Bitcoin blockchains are designed to protect and protect customers by encrypting data. Basically, all participants can view all Bitcoin transactions, but the participant's personal data is still anonymous.

To trade Bitcoin, you only need one name, username and bitcoin wallet. This means that your ID number, credit/debit card number and your home address will not be disclosed to third parties. This is also the first of many reasons for the future of Bitcoin online.

Second, bitcoin transaction fees are either ridiculously cheap or not at all. And there is no tax. why? As we mentioned above, there is no middleman using bitcoin trading. In short, there are no financial institutions to control transactions and collect fees.

Then if there is no transaction fee, you may ask. Well, obviously, you don't have to pay a third party to process the transaction. But more importantly, the odds of the games you play are higher.

As you know, casinos have the advantage that they have a 1% to 10% advantage over players. Online casinos work the same way - that's how they make a profit. Unlike land-based casinos, online venues have the advantage of housing to pay for transactions (typically, most transaction costs are the responsibility of the operator). When the cost is small and cheap, online operators hardly have to impose high prices. Therefore, players have a fair chance to win. If that is not very good, we don't know what it is!

As you can see, Bitcoin offers many advantages to players. But operators also have many benefits. First, simply providing cryptocurrency payments is enough to attract many players to the venue. But that's not all - the use of Bitcoin greatly simplifies casino operations.

Traditional payment methods offer refunds, right? Then, bitcoin payments are not. This is why every player must check all the content before depositing, because once the transaction is completed, Bitcoin cannot be recovered. Therefore, online game operators do not have to deal with players who claim compensation or want to withdraw their money. In addition, through Bitcoin, operators can be protected from player fraud.

All in all, Bitcoin will not disappear soon. Whether the cryptocurrency will once again reach a record bonus of nearly $20,000 is not a question we can answer. We can say with certainty that Bitcoin offers many advantages for players and online casinos. That's why we think of the future of the Bitcoin online industry.