This is a promoted article from 1xBit.
Online gambling has been a use case for bitcoin and other cryptocurrencies for almost as long as the technology itself has been around. And as Bitcoin grows as a network, and more people around the world are using bitcoin, it is clear that the online casinos that embrace BTC-based gambling will also continue to grow.
There are many reasons why casinos that accept and reward bitcoin are on the rise. To give a clearer picture of how this use case embodies the spirit of Bitcoin and to give some explanation of why this industry continues to grow, see below for the main reasons why BTC casinos are so popular.
1. Preservation of privacy
In regular casinos, physical presence is required to gamble. However, for bitcoin casinos, players can gamble from the privacy and comfort of their home without revealing their real identity. This is because bitcoin is based on a decentralized public blockchain that pseudonymous transactions.
While this started with Bitcoin, it should be noted that there are now other cryptocurrencies that were created with the intention of preserving privacy even more thoroughly. These are known as “privacy coins” and some are now used for gambling, further ensuring the privacy of users of these platforms. This is likely to attract more people as time goes on.
2. No restrictions on participation
Physical location can be a major barrier when it comes to gambling. But, much like Bitcoin itself, many cryptocurrency casinos allow anyone from any part of the world to participate without any geographic restrictions. This is just another way that this use case embodies the spirit of the Bitcoin network itself.
3. A ramp to Bitcoin
By enabling the preservation of privacy and safe gambling, bitcoin-accepting online casinos have ushered countless new users into the Bitcoin ecosystem by presenting a new ramp in technology. After adopting BTC as a gambling tool, it is likely that many of these new users have realized the other benefits of the technology and become Bitconers and HODLers themselves more often.
The benefits of 1xBit
Few cryptocurrency casinos are better able to reap the benefits of this use case than 1xBit.
This all-inclusive crypto bookmaker and casino supports a wide variety of competitions, tournaments and competitions from around the world for both traditional sports and esports categories. There also is a live casino, regular casino and a number of betting options and bonuses. Users can withdraw their winnings and bonuses in any asset offered for deposit with (or 25 supported cryptocurrencies).
1xBit is considered by many to be a safe platform as it has never lost money through a hacking attempt. The platform implements a number of security protocols to keep funds and user data safe, including end-to-end SSL encryption to secure user data, and accounts can enable two-factor authentication through Google Authenticator to further increase security.
Additionally, 1xBit players can contact the support team 24/7 via live chat or by sending an email. The support staff would have fast response times, respond in minutes via live chat support and within 24 hours via email.
In summary, this all-encompassing, feature-complete sportsbook and casino continues the legacy of bitcoin-based casinos by embodying many of Bitcoin’s core traits and providing players with an accessible ramp into the future of finance.
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