If you are using the internet frequently, you are surely aware of how popular online gambling has become. Naturally, this concept’s peak of popularity has been experienced in the last two years, with the global pandemic of COVID-19 forcing people to stay in their homes. Since people didn’t get out of their homes for quite a long time, those who had the habit of visiting a land-based casino, have shifted their focus to online gambling.
When you take a look at some official figures, you will see that the most popular sites of this sort have recorded a record number of visitors. All of these factors are saying that we are witnessing a phenomenon that will continue in the future, not only because of the pandemic. Just think about it, people interested in this activity have found a way to enjoy their favorite games from the comfort of their homes.
It is yet another part of our lives that has gone digital. At the same time, we can see that cryptocurrencies have gained in popularity during that time. For this reason, many sites have included a possibility to gamble with cryptocurrencies like Bitcoin, Ethereum, or Cardano. Now, let’s see what we know about these casinos and how they work. Without further ado, let’s begin.
Are They Legal?
We know that the most significant financial institutions in the world were rather skeptical about cryptos. Today, we can see that this image has gotten a little bit better. We can even see there are a couple of countries that have started using it as a legal method of payment, like El Salvador. Despite the fact that these have become quite popular, many are still unsure whether this sort of online casinos is legal.
Well, the answer is yes. We can even see that these sites had a massive impact on the recent rise of Ethereum’s value. Truth is said, a vast majority of countries don’t have a law that regulates these areas. Still, they are not prohibited. So, participating in this sort of gambling is not illegal, which means there is no negative effect on those who decide to gamble with cryptocurrencies.
If you know a thing or two about cryptocurrencies, then you probably know that these are known for fast transactions. If you compare these to the ones we are used to, you will see that they are incredibly faster. For instance, for a bank to process the transaction you have sent from your account to another, it would take a couple of days to do that. For instance, if you send it on Friday, you would have to wait for Monday.
If you send Bitcoins, these transactions will be performed rather quickly. While there is no definite answer on how much you will need to wait for them, we would say that you will not wait for more than a couple of hours. Even better, it doesn’t matter if you want it to perform during the weekend. The market doesn’t have limited work hours. You can sell your coins on the market whenever you want.
As is the case with almost every online casino out there, you will receive some sort of bonus while you play. We can see that these Bitcoin bonuses are often marketed as “giving away free BTCs”. However, we can see that this is not entirely true. These bonuses work in the same way pretty much all other work. When you do get them, you will need to read terms and conditions to understand how to use them.
For example, you will not have a possibility to withdraw them without playing for some time. Plus, the amount you will receive will serve as a way for you to jump-start your potential income. Even if you succeed in making a significant profit, withdrawing the amount you got as a part of the bonus will not be possible. Nobody gives out these for free, right? If you want to learn more about these, visit InsideBitcoins.
Because of how these are usually marketed, many people have a wrong idea about how they can obtain them. For instance, there are many players who believe that they can get BTCs for free, just by playing at these sites. Sure, this idea sounds great for players, but there is no online casino in the world that will opt for this approach, no matter how they want to promote their website.
What Makes Casinos Popular?
With the introduction of BTC, we can see that online gambling sites have become interested in adopting them as a legal method of payment. There are a lot of reasons why this has happened. But one of the reasons that make these sites as popular as they are is the fact that there are practically no transaction fees involved. You will not need to pay any extra amount of money for these transactions.
The ones that were pioneers in accepting this new method have become quite popular over the years. We can even see that some of them have become big players in the industry. Plus, we can see that players adore it because they can remain completely anonymous while playing at these places. It’s simple, they are not required to provide their data to make a transaction.
Other than that, we can see that these sites have pretty much all the factors that make online casinos popular. They have a lot of different games to choose from. For those who don’t know, this is one of the major factors that make a site credible and reliable. Plus, with more games available, chances are that they will attract a high number of players to spend their money there.
As you can see, the myth about getting Bitcoin for free is officially debunked. But that doesn’t mean that you cannot use these bonuses to your benefit. In fact, we encourage you to try these out and see how they can help you increase your winnings over time. We are sure you will find all of these inputs useful.