Originated at the end of 2008, Bitcoin has made a giant leap from an unknown decentralized currency devised by out-of-nowhere Satoshi Nakamoto to a widely accepted medium of exchange that has revamped the global financial system. Many fiat casinos begin adding bitcoins as a payment method, thus attracting an ever-increasing army of bitcoiners, and “true” bitcoin casinos that operate only with the cryptocurrency are springing up like mushrooms after the rain. The reason for the popularity of bitcoin online casinos is easily understandable; gamblers get top shelf entertainment on pokies and other games plus lots of other undeniable advantages stemmed from the use of bitcoins.
Bonuses and promotions at bitcoin online casinos
There are different types of bonuses available in bitcoin casinos. Sign-up or welcome bonuses that cover the first deposit and often a few subsequent deposits are for new members who have just created the account and qualify. Welcome bonuses need to be played through a certain number of times (normally, x30 and more). Players of Australia are eligible to claim other bonuses that run on a regular basis, for example, reload bonuses, free spins, cashback bonuses and no-deposit bonuses. In many bitcoin casinos, there is a plenty of on-going freerolls and tournaments with an entry fee, all featuring different prize pools in bitcoin or fiat currency. Besides, some casinos feature bitcoin faucets that give out some free satoshis for betting.
Online bitcoin casinos: On the plus side
Pretty much every bitcoin casino features simplified registration procedures or even makes the registration an option that the player is allowed to ignore. It is no secret that many gamblers sign up at a fiat casino unwillingly since they are required to fill in dozens of necessary fields on the registration page and disclose their personal details such as name, address, email, phone number, etc. In contrast, opening account at a bitcoin casino is extremely fast and totally safe in terms of privacy; it requires your email, nickname and password to access so nothing can pose a threat to user confidentiality.
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Gambling is a beloved pastime of many Aussies. However, as the government restricts credit card gambling payments, many are looking for new ways to make deposits and withdrawals on gambling websites. There’s no more anonymous solution than using one of the many Bitcoin casinos in Australia.
Bitcoin, the most popular of cryptocurrencies, gives you absolute anonymity on the web, so you can handle gambling transactions without fears about your private information getting in the wrong hands.
This article gives you all the information you may need on how to use Bitcoin at online casinos as well as gives you a list of reliable sites to gamble at with BTC.
Advantages and Disadvantages of Using Bitcoins
The popularity of the Bitcoin is underlined by another bit of statistic - the spike in its cost in recent times. When it was first introduced in 2009, the cost was $1 for 1 Bitcoin. Today, the number stands at over $240 for 1 Bitcoin. There was an astounding high in 2014, when 1 Bitcoin cost $1000.
There are numerous advantages to using Bitcoins, and a few disadvantages too.
The following are the advantages:
Anonymity in buying and selling.
Ability to transfer funds anywhere across the world at any time.
No regulation by financial institutions or government agencies.
The following are the disadvantages that the Bitcoin comes with:
Limited acceptance by vendors due to limited knowledge and awareness about the cryptocurrency.
Lack of legitimacy in many parts of the world.
Wary attitude of government agencies towards it because of its anonymity; the fear is that criminals and terrorists could also use it.