Bitcoin’s price keeps going up and down. But one thing has remained constant—its adoption rate by US online casinos. Gambling sites are in a race to support crypto, from New Jersey to Pennsylvania.
When did crypto become a leading payment option at the most trusted online casinos for USA players? The short answer is that gambling operators have been accepting Bitcoin since its early days. The reason they love crypto has everything to do with these benefits:
1—Payment Speed
There are few payment options that process payments as quickly as crypto. Picture this. You can send up to $1 billion in bitcoin around the world. The payments are instant and the fees are incredibly low.
Now, think about how long it takes to send money through a wire transfer. It takes up to a week to complete a bank payment. In all fairness, digital payments like PayPal and Google Pay offer quick transactions too.
And that’s why crypto isn’t the only payment option you can use at casino sites. There are multiple alternatives, including eChecks. All the same, cryptos promise instant transactions regardless of where your recipient is located globally. The same can’t be said of e-wallets and credit cards.
2—Low Fees
Last year, someone sent a bitcoin transaction worth $1 billion at the cost of less than a dollar. Think about it. Which other payment option offers such low fees? To be clear, crypto doesn’t charge payment fees.
However, crypto payments need verification. This process is done by computer nodes known as computer nodes. Verified payments are added to the blockchain for future reference.
Miners get rewarded for every verified payment, hence the fees incurred while transacting with crypto. Sometimes these can be relatively high, especially when there’s a demand for certain crypto. However, there are plenty of cryptocurrencies with near-zero fees.
3—Tip Top Security
You’ve heard stories of people losing all their crypto. Some of these stories are true. But it’s not because cryptos are unsafe. Bitcoin and altcoins use cryptography to secure addresses.
Then there’s blockchain—the engine through which all crypto activities happen. Many blockchains are decentralized, meaning no one controls the system. Instead, thousands of computer nodes work together to run the engine.
Importantly, the blockchain is secured in such a way that you would need to solve complex math problems to solve just one transaction. For you to hack the entire system, you would need so many resources that the effort and time wasted wouldn’t be worth it.
With that in mind, crypto users have a responsibility to keep their coins safe. This starts by choosing secure crypto trading sites. Also, you need a secure third-party crypto wallet. And when sending crypto, double-check addresses to avoid losing your coins permanently.
4—Nationwide Adoption
Bitcoin has been the talk of major news networks for years. If it isn’t on the news, it’s trending on Twitter. In other words, it’s safe to say crypto is part of the mainstream culture.
As a result, more and more businesses are accepting to support crypto payments. We’re not just talking about casino sites. Major brands in the US now accept crypto payments:
- PayPal
- Starbucks
- Overstock
- Amazon
- Twitch
- Home Depot
Besides brands, banks, schools, and artists are also accepting crypto. The explanation is simple. Crypto is as popular, if not more popular, than its alternatives.
Bitcoin has become so popular that the US government has been talking about how to regulate it. Presently, it taxes crypto gains and regulates crypto-related businesses. But it’s yet to take any drastic measures against the payment method.
5—Privacy Oriented
When Bitcoin first launched, critics, accused its founder of creating a payment option for cybercriminals. Truth be told, Bitcoin experienced tremendous growth in the dark work. But not for long.
All the same, one of the reasons crypto grew into a globally recognized payment option is because it cares about your privacy. For starters, you don’t need to reveal your name or address to make a payment.
Secondly, you can anonymize your payments for improved privacy. In fact, some cryptocurrencies were designed with privacy in mind—Monero, ZCash, and DASH, to name a few.
Unfortunately, most casinos still want to know your identity even if you use crypto for payments. That’s not a deal-breaker, though. They have to follow the law to offer their services in the US.
6—A Hedge Against Inflation
There’s a reason Bitcoin’s price has been increasing every year. It has a limited supply. As adoption and demand grow, its price increases but its supply doesn’t. This also happens with many altcoins, from Ethereum to Solana.
By comparison, the US dollar loses value over time. That’s because it has an unlimited supply. For people who want to hedge their wealth against inflation, crypto is the ideal solution.
Luckily, crypto isn’t something you just buy and store in a vault. It’s a payment solution you can use for everyday purchases like groceries, coffee and online casino deposits.
7—A Great Investment
Is Bitcoin a good investment? For people who bought crypto five years ago and still hold their coins, it’s the best investment anyone could dream of. The coin has been increasing in value at insane rates.
And if you invested in alternative coins like Ethereum, Solana, and Polkadot, the gains are even bigger. Although some people buy crypto to benefit from its price increases, they still want to support the cause.
In other words, Bitcoin investors also spend their money. Playing online casino games is one of the ways they use their crypto.
Conclusion
Americans have varying opinions about Bitcoin. Regardless, there’s no doubt it’s growing popularity in the country. Most people know someone who owns Bitcoin or an altcoin.
Most people buy bitcoin for one of the reasons mentioned above, A majority buy it for investment. But others love that it’s safe, easy to use, secure and private. Importantly, it has real use cases, from paying school feels to depositing money at US casino sites.