Digital Currencies in The iGaming Sector

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Many online gambling related sites experienced great difficulties processing payments from their customers after the SAFE Port Act was passed way back in 2006. Which forced them to look for new ways to take deposits from their customers and pay them out their winnings too.

Lots of gaming sites decided to stop accepting customers from the U.S.A. whilst others dreamt up weird and wonderful ways for them to circumvent that Act. However, when Bitcoin and in turn other cryptocurrencies appeared on the scene, it was immediately grasped by gaming site operators as the perfect solution to their processing woes.

In no time at all, a huge and in fact growing number of betting sites that accept Bitcoin appeared, and most of them have become hugely popular with those living in America who are eager to place all manner of sports bets online. 

Initial Confusion Over What Cryptocurrencies Were 

One aspect of using cryptocurrencies as a payment option in the early days, is that many people did struggle with the concept of the blockchain, and how they could store their digital currencies safely and securely.

There was also a great deal of concern about the wild fluctuations in the value of the leading digital currencies too. As the years have ticked by though, they Ethereum and Bitcoin have become hugely popular, and are a breeze to use.

Here are just some of the many unique benefits and features associated with using any cryptocurrency which has ensured a steady stream of gamblers are more than happy to utilize them as their preferred gaming site payment methods.

  • Instant Deposits
  • Rapid Pay-outs
  • Safe and Secure
  • Can Be Used Anonymously 
  • Bitcoin ATM’s Now Available

With the advent of Bitcoin ATMs that ensured those using that cryptocurrency can turn their Bitcoin holdings into a fiat currency at any time, without the fuss or hassle of having to make use of an online digital exchange. 

Betting and Gambling in Fractions of a Bitcoin

One question I am sure that many of you who may be thinking of using Bitcoin as a payment method at any betting or gambling site, is whether you are required to wager in fractions of that cryptocurrency, or whether other options are available.

Well, there are two main types of digital currency accepting gambling sites, the first operate solely in Bitcoin and as such when placing a bet or wager you are able to select a fraction of a Bitcoin as your stake.

The other type of gambling site will require you to turn your Bitcoin or any other cryptocurrency for that matter, into a fiat currency via their online banking interface, and once you have done so you can place your bets and wagers or even play casino, poker, or bingo type games in the fiat currency you have selected.

Gaming Opportunities Available to Bitcoin Users

If you are interested in gambling online and wish to use Bitcoin or any other Crypto currency as the way you both top up your account and withdraw your winnings too, be aware you are strongly advised to stick to those sites that are fully licensed and regulated.

As for just what gambling opportunities will be available to you online, there are certainly no shortages and I am more than confident whatever you are eager to try your luck on, you will find it online, such as each of the following gambling opportunities:

  • Poker
  • Sports Betting
  • Casino Games
  • Bingo
  • E-Sports

As for any benefits that will be available to get you to switch over to using cryptocurrencies as opposed to funding your account using a credit or debit card or a web type wallet, well bonuses are always going to be showered upon you, as both a new customer and a regular customer at most gambling sites.

You will also earn comps in much the same way as you would when gambling at a land based casino, so always be prepared to shop around for the sites offering the most generous promotional offers and players clubs is my advice.

See also  Use These Tips to Book a Vacation with Bitcoin

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