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Popularity of Bitcoin in Online Gaming Continues to Grow

Avatar Yashu Gola 4 years ago

Have you ever heard of Bitcoin? It is a digital currency and online payment system that users can use to make purchases and perform other financial transactions online. The software that creates Bitcoins is completely open source and available for everyone to use.

Bitcoins can be exchanged for actual money and vice-versa at sites called Bitcoin exchanges. But, if you don’t want to spend your own money, you can still use Bitcoins. How is this possible? Through a process called mining, although it can be time-consuming, the mining process isn’t too difficult – it involves using your computer to figure out certain calculations. In this way, you could fund your online gaming (on online casinos) and other financial transactions without using any of your own money.

There are many benefits to using this virtual currency on online casinos, besides the “free” money. For instance, when Bitcoin is used for financial transactions, there are little to no transaction fees, especially when compared to payment systems like PayPal or credit and debit cards. Furthermore, Bitcoins can be sent directly from a tablet, computer, smartphone, because all transactions are completely secure, ensuring the safety of all funds involved.

As you can see, Bitcoin is easy to use, secure, and perfect for financial transactions on your favorite sites, like Red Flush online casino.

Unfortunately, even though the operators of this particular website are very keen to see where the future of Bitcoin treads, as of right now, this type of payment system is not available on their site. Don’t be discouraged however, one day it might be possible to use this promising virtual currency to play video poker games on their exclusive site.

Known for their fair gaming practices, innovative security measures, and a wide selection of high-quality games, Red Flush casino is, without a doubt, one of the best of its kind on the internet. It’s been in business for just under 10 years and since then has managed to make a good name for itself, even amidst the heaps of competition in this industry. And, who can blame their fans? They offer a large variety of very generous bonuses and promotions that would make even the hardest to please gamers swoon with joy. For instance, their welcome bonus offers beginners the chance to get up to an additional 1,000 pounds in extra gaming cash for free as well as 100 free spins, just for signing up and making their first deposit. Terms and conditions may apply.

When you use Bitcoin on online casinos, there are practically no more worries. They are the perfect solution if your gambling budget is small. But, truthfully, the biggest benefit of using Bitcoin is that all financial transactions are kept anonymous. While this may not be a concern for many, being able to put money to fund your account without any charges showing up on your bank and credit/debit card statements, this is a huge advantage for some.

Furthermore, the future of online casinos and Bitcoins seems rather bright. For instance, there are some online casinos interested in using Bitcoins to fund their player loyalty programs. In this way, when players spend time on their favorite sites, they may be able to earn valuable Bitcoin currency and have it deposited into their gaming accounts.

As of right now, there are only a few online casinos that give players the chance to use this new virtual currency. But, it’s also important to note, that this is changing rapidly, making Bitcoin an excellent alternative to the more traditional deposit options.

What do you think of Bitcoin? Would you use it to fund your gameplay on sites like Red Flush online casino? Share your thoughts in the comments below, we would love to hear your opinion.

Cover Image via Flickr

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN...

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