Bitcoin & Gambling: How Bitcoin Changed Gambling in 2022

A new trend kicking off in the Polish gaming industry is betting with cryptocurrency, and there are no signs of it abating. This is due to blockchain technology – a database of encrypted data blocks connected to establish a ledger for every transaction carried out.

 

Since the advent of this new payment system, online casino owners and players have experienced a great deal of change in terms of transaction times. Bitcoin is changing the global financial landscape, and online gambling isn’t exempted. See how below:

Security

One major concern of many online gamblers is whether or not their financial information would be safe. Who would blame them when there are hackers everywhere who can steal your money in the blink of an eye.

 

That’s where using Bitcoin to gamble comes in. Players get to enjoy improved security like never before. This appealing feature is made possible because of the introduction of blockchain technology.

 

Transactions are easy to track, and as a result, no one would want to interfere with them because you can trace how the money is moving exactly. Unlike traditional banking methods, you won’t have to provide any personal information when you use Bitcoin, which takes us to the next point.

Anonymity

If you’ve ever felt weird uploading your personal information on a gambling site, then it’s time to go the crypto way. According to gambling expert Jacek Michalski: “Jeśli kochasz gry hazardowe kasyno i nie chcesz podawać swoich danych osobowych lub finansowych, najlepszym rozwiązaniem dla Ciebie jest kasyno bitcoin”. No one will ever know you gamble if you want it to be a secret.

 

All that is required for you to complete a transaction is an account destination tag or wallet address. This is good news for gamblers who’d like to request a loan from their banks in Poland without letting them know they’ve been gambling.

Quick Transaction Time

Most traditional payment methods take between 1 and 5 working days, and that’s a pretty long time for gamblers who want to have instant fun. Some of them also require players to complete a verification process where they upload a valid means of identification. That’s a lot of stress to go through to get funds, and it becomes more complicated if the payment is coming from outside Poland.

 

If you want to avoid waiting for long periods, Bitcoin is an ideal option. Why? According to online gambling expert Jacek Michalski, withdrawal of money through Bitcoin is instant, permitting players to enjoy their profits sooner than traditional payment methods.

Convenience

Those who prefer Bitcoin as a payment option enjoy convenience. They get to access fast withdrawal of money through cryptocurrency, play anonymously, and are guaranteed safety, among other things.

 

Moreover, the fact that there are no deposit and withdrawal limits and gambling transactions don’t reflect on their account is enough reason for players to consider it a favourite payment option.

No Additional Charges

Depositing or withdrawing money with any of your credit/debit cards will incur additional charges for you most of the time. Your local banks may charge high fees, and if your financial service provider is outside Poland, it can equally cause unplanned expenses.

 

All of these can frustrate you, but you don’t have to worry about additional costs when you deposit via cryptocurrency. Actually, it doesn’t matter if you’re depositing or withdrawing; there will be no added charges for this service.

 

And in times like this, where the world is still recovering from the pandemic, Bitcoin is more advantageous than fiat currencies as it limits physical touch. 

Easy Customer-Operator Relation

Casino operators sometimes face issues when using traditional payment methods, such as delayed deposits. However, that can be alleviated thanks to Bitcoin. It essentially simplifies the relationship between the player and operator. This ultimately leads to more profits both for players and platforms.

Conclusion

The online gambling market is spreading and growing rapidly, just as cryptocurrencies like Bitcoin. The benefits are clear! There’s no doubt every online casino will eventually accept Bitcoin as a payment option.

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