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    Cryptocurrency

    How do cryptocurrencies improve live dealer gaming?

    How do cryptocurrencies improve live dealer gaming?

    2/4/2019

    Cryptocurrencies such as Bitcoin first started to be accepted on gaming websites in 2013, and have gone on to become one of the most popular currency options for placing bets and making payments. Ever ahead of the curve, here at Bitcasino we accept Bitcoin and other cryptocurrencies such as Ether, and all our online gamblers can now use these and other virtual currencies when they play Bitcoin slots, Bitcoin roulette and a whole range of other crypto casino games.

    Cryptocurrencies make live dealer gaming such as Bitcoin roulette and other online gambling with Bitcoin a more efficient, secure and enjoyable experience in a number of different ways. It allows players to concentrate on the game itself rather than having to worry about peripheral issues such as the security and transfer of their funds. They suffer less stress as a result and enjoy their favourite online Bitcoin casino games that much more, which is exactly as it should be.

    What are cryptocurrencies?

    In essence, a cryptocurrency is simply a set of digitally stored numbers to which users have assigned a particular value, and these are then exchanged in return for a range of goods and services. To that extent, at least, a cryptocurrency is similar to the traditional paper currencies. Every transaction made with the currency is automatically tracked by the network and protected by mathematical formulae, making cryptocurrencies highly secure, unforgeable, and impossible to tamper with in the way that paper and coin currencies are frequently abused.

    This system of cryptographic transactions, implemented in 2009, is known as Blockchain. It prepared the way not only for Bitcoin (BTC) but also for a whole range of platforms and other cryptocurrencies across a range of industries.

    Privacy

    The nature of cryptocurrencies and the Blockchain platform mean that privacy and anonymity are built into the entire system. When you play using Bitcoins, Ether or any of the other digital currencies at an online Bitcoin casino, no personal information is ever attached to your transactions. Players, as a consequence of this, are able to send money straight to each other without having to go through a third party such as a bank, and trust is thereby greatly enhanced. The transaction fees are also significantly smaller as a result, and transactions can be performed day and night, regardless of “regular office hours”.

    The automatic recording technology that enables Blockchain, incidentally, extends far beyond gambling to business finances, taxes and many other areas, enhancing their efficiency and simplicity. Many thousands of online vendors now accept BTC and other cryptocurrencies, including platforms and sites such as Windows stores, Stream, Expedia and, of course, Bitcasino.

    For the typical casino player, however, privacy and simplicity are the main advantages, allowing for a smoother and more enjoyable experience in live dealer gaming.

    Security

    Speed, simplicity and transparency are not the least of the advantages of online gambling with Bitcoin and other cryptocurrencies. With big data leaks seemingly increasingly in the news these days, using Bitcoin or Ethereum for live dealer gaming at Bitcasino means that you don’t have to hand yet another financial entity your confidential information. The identity of each of the two parties taking part in a transaction remains completely secret, untraceable because of the nature of the system, and this guaranteed safety, security and anonymity allows you to concentrate completely on the game in hand.


    Equally, many banks have somewhat draconian restrictions in place for customers wishing to perform financial transactions with online casinos, even where such transactions are perfectly legal. Using a cryptocurrency to play Ethereum games or Bitcoin games gets around this irritating red tape, allowing you to concentrate on enjoying your gaming.   

    Speed

    There are numerous online casinos that offer players very fast options for the deposit and withdrawal of funds. None of these, however, is as fast as cryptocurrency transactions with us. Transactions using Bitcoins, Ethers or any of the others are performed instantaneously, and although much the same can be said of many other deposit options, BTC withdrawals are usually completed in less than two hours. There are not many bank transfer options or e-wallets that can come close to matching that.

    Again, with traditional paper currencies, you have to rely on cash and credit or debit cards to make payments and collect winnings. Cryptocurrencies with their direct payment systems dispense with these unwieldy and insecure items and can be used easily by everyone. Transactions for online gambling with Bitcoin become super-smooth and don’t interfere with enjoyment of the gameplay. 

    Tax

    As cryptocurrencies made their appearance relatively recently, many governments still do not regard them as being “real money”. Consequently, when you take your winnings in the form of these currencies, they are also not considered to constitute real income and therefore are not subject to income tax. Because there are also hardly ever any transaction fees, you keep the whole amount of your deposit and pocket all your winnings. With headaches such as these out of the way, you’re freed up to enjoy your live dealer gaming without any distractions. The experience becomes purer and less bogged down with peripheral considerations.

    Universality

    Unlike all other country- or zone-specific currencies, cryptocurrencies are acceptable around the globe. Whether you’re playing Bitcoin roulette, Bitcoin slots or any other sort of online gambling with Bitcoin or another cryptocurrency, national boundaries do not apply. You can use these currencies to play your favourite online casino game anywhere in the world without having to worry about exchange rates. The enjoyment and transparency of live dealer gaming is greatly enhanced by such advantages of cryptocurrencies.


    Summing up

    Here at Bitcasino, you can play live dealer games using cryptocurrencies and enjoy all of the advantages mentioned above. We have everything from Bitcoin slots and Bitcoin roulette to Bitcoin poker and a full range of other Bitcoin games for you to enjoy. Cryptocurrencies remove all the old worries about security and privacy, allowing you to devote all of your attention to the game itself and therefore maximise your enjoyment.    

    Words: Sean McNulty
    Images: Shutterstock

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