The unique technology behind Bitcoin and the blockchain is one of the most exciting technologies to have been introduced to the world. With the capability to transform everything from banking to government, many people believe that Bitcoin could be the crypto currency that will evolve the digital landscape, influencing how payments are carried out in the years to come. Whether Bitcoin will be a replacement for fiat currencies or whether it will ultimately grind to a halt once all of the 21 million Bitcoins have been mined is yet to be seen, but one of the things that Bitcoin is having a huge influence on in the meantime is online gaming.
Anonymity & Privacy
One of the major benefits that online gamers are enjoying with Bitcoin is the anonymity and privacy that it provides. Due to the fact Bitcoin is truly decentralised and not tied to a central banking authority in a way that fiat currencies are, transactions are completely anonymous. This offers a level of freedom and privacy that is important to many gamers, particularly those looking to play online casino games such as Bitcoin blackjack or poker.
When signing up for some Bitcoin gaming sites, they will not ask for any personal information that you will normally need to provide to regular online casinos and other gambling sites, such as a copy of your I.D. or a utility bill scan. Having this kind of information stored online could produce a potentially vulnerable situation for some players when it comes to people hacking into their accounts. With Bitcoin, players do not have to worry about this kind of information being stored online, as the most that a Bitcoin site will normally ask for is an email address and a password.
The Bitcoins that you can play with are also stored in an exceptionally secure Bitcoin wallet which is only accessible with a private key. However, if the key is lost, the Bitcoins will also be lost, meaning it is important to keep your private key information secure whether using an online, offline or hardware Bitcoin wallet.
Accessibility & Ease Of Transaction
A huge benefit of Bitcoin, which is one of the biggest influences on online gaming- particularly in online casinos, is its accessibility and ease of making transactions. Operators and gambling sites will have to pay a number of fees in order to allow their players to make transactions via debit or credit card, which they will ultimately charge to the player. With Bitcoin however, the process is totally free to exchange Bitcoins with the site that you are wishing to game on and with this, the transactions are also a lot faster. In fact, many Bitcoin transactions are actually carried out instantly – including both withdrawals and deposits.
In addition to this, because Bitcoin is a totally anonymous process, there are no legal jurisdictions that apply when it comes to using them for online gaming. This means that countries where online gambling and betting is illegal do not have jurisdiction because the currency is totally decentralised from that particular country. This provides a whole new world of accessibility to online gaming for countries who have not previously been able to access it freely. Because of this, a huge number of Bitcoin sites offering all types of RPG and casino games have appeared online. Sites such as Bitcoin Casino Pro offer readers a number of genuine site reviews from real players and Bitcoin enthusiasts, meaning new Bitcoin users can find the best Bitcoin blackjack, slots, poker, baccarat and other casino games in one place, from genuine sites. This type of useful information is another indication of how accessible and also how popular Bitcoin gaming is becoming.
As the technology behind Bitcoin and online gambling is evolving, one of the things that people are looking for when playing online is how genuine and fair the game actually is. With Bitcoin games such as Bitcoin slots, the crypto currency helps to ensure that the site is completely transparent. Bitcoin sites can show the server seed in some games, such as provable slots games, which allows the player to see whether the slot machine is fair and uncompromised. The demand for fair and un-altered gaming is increasing dramatically which is why blockchain technology could prove to be a very interesting step and be a huge influence towards validating Bitcoin play as a provable form of online gaming.