You will definitely agree that the cryptocurrency crash of 2018 happens to be one of the most talked about global digital news of the year. While Bitcoin ended 2017 on a good note, reaching its all-time high of over $19,783, less than two months later the price of this crypto dropped to $6000. The total market capitalization for this crypto which has climbed to over $100 billion fell below the mark during the month of February 2018. In general, the year 2018 was not one of the best years for Bitcoin and other cryptocurrencies, but you will find it interesting to know that amidst this crypto bubble that has eventually burst, the Bitcoin casino industry has continued to grow and this is because of how the concept of the gambling industry fits perfectly with these digital currencies.
Most experts are of the opinion that a couple of reasons are responsible for the growth this industry has experienced. If you’ve spent a considerable amount of time playing online games, you would definitely agree to the fact that most of these online gambling websites are used for phishing personal information which is finally sold to third-party vendors. The sale of personal information to third-party vendors is one of the main reasons why most people prefer to place their bets on Bitcoin casinos as they do not require you to provide personal information before you can do so. The anonymity that comes with these Bitcoin casinos give players all over the freedom to place bets and get winnings without having to worry about their personal information is processed.
Experts have also stated that the easy transaction process is another reason that has facilitated the growth of Bitcoin casinos. Unlike the regular online games, Bitcoin casinos offer fast transactions and also they make use of digital currencies. Bitcoin is not regulated by the government, thus, meaning that winnings that are to be transferred are done easily as there are no central authorities to verify the transaction. While most online gaming websites may take up to a week to transfer winnings right from a bookmaker to your account, Bitcoin casinos do this in less than twenty minutes. The transparent nature of Bitcoin casinos as well as their easy to set up process is why the industry is growing despite the fall of the crypto.
Cheap transaction fees is another reason that has contributed to the growth of this industry. Experts in the crypto sphere have revealed that unlike most of the traditional betting websites that charge outrageous fees for each deposit that is made to the account of the player, Bitcoin casinos only charge a small fee which goes to the miners. With these online Bitcoin casinos designed this way, players do not have to lose a couple of dollars on outrageous deposit fees, rather, the extra cash can be converted to increase their staking power. Interestingly, these Bitcoin casinos do not actually have withdrawal limits, meaning that players can withdraw all in their account if they desire to do so.
Finally, these Bitcoin casinos offer players irrespective of where they are in the world an opportunity to enjoy unlimited games. Those living in countries that have placed a ban on online gambling can also play on these Bitcoin casinos as they can make transfers right from their Bitcoin wallet. Also, there are tons of Bitcoin casinos with various games you can choose from. Whatever game you wish to play, there are tons of Bitcoin casinos that offer you the opportunity to not just play these games but also make cash that can be sent to your account whenever you deem fit.
With speculators in the crypto sphere stating that the price of these cryptos may experience an increase in the months to come, the Bitcoin casino industry has shown great growth potential. Most people are of the opinion that the casino industry will grow this year irrespective of whether Bitcoin and other cryptocurrencies fall or rise. While a fall or increase in the price of Bitcoin may not directly affect the industry, you will agree that an increase in price would definitely impact greatly on the growth of the industry.
Tina Baily is the lead editor of Crypto Daily Gazette. Fluent in Spanish and proficient in German and Arabic, she focuses on mobile trends and tech innovations. Tina is a graduate of MIT. Tina prides herself as an early adopter of cryptocurrencies having bought 100 bitcoins in 2013.