This is a promoted article provided by 1xBit.
Online gambling has been a use case for bitcoin and other cryptocurrencies for almost as long as the technology itself has existed. And as Bitcoin grows as a network, and more people around the world adopt bitcoin, it’s clear that the online casinos that embrace BTC-based gambling will continue to grow as well.
There are many reasons why bitcoin-accepting and -rewarding casinos are on the rise. To provide a clearer sense of how this use case embodies the spirit of Bitcoin and to offer some explanation for why this industry continues to grow, see below for the top reasons why BTC casinos are so popular.
1. Privacy Preservation
In mainstream casinos, physical presence is required to gamble. For bitcoin casinos, however, players can gamble from the privacy and comfort of their homes without revealing their real-world identities. This is because bitcoin is based on a decentralized public blockchain that makes transactions pseudonymous.
While this started with Bitcoin, it should be noted that there are now other cryptocurrencies that have been created with the intent of preserving privacy even more thoroughly. These are known as “privacy coins,” and some of them are now used for gambling, further safeguarding 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 hindrance when it comes to gambling. But, like Bitcoin itself, many cryptocurrency casinos allow anyone and everyone from any part of the world to participate without any geographical restrictions. This is just another way in which this use case embodies the spirit of the Bitcoin network itself.
3. An On-Ramp To Bitcoin
By enabling privacy-preserving and secure gambling, bitcoin-accepting online casinos have ushered countless new users into the Bitcoin ecosystem by presenting a new on-ramp into the technology. After adopting BTC as a means of gambling, it’s likely that many of these new users have realized the other benefits of the technology and become more frequent Bitconers and HODLers themselves.
The Benefits Of 1xBit
Few cryptocurrency casinos are better poised to deliver on the benefits of this use case than 1xBit.
This all-inclusive crypto bookmaker and casino supports a diverse array of matches, tournaments and leagues from around the world for both traditional sports and esports categories. There is also a live casino, regular casino and a number of betting options and bonuses. Users can withdraw their winnings and bonuses in any asset offered to deposit with (or 25 supported cryptocurrencies).
1xBit is regarded by many as a safe platform because it has never lost any funds to a hacking attempt. The platform implements a number of security protocols to keep funds and user data secure, including end-to-end SSL encryption to secure user data, and accounts can enable two-factor authentication via Google Authenticator to further increase security.
Furthermore, 1xBit players are able to contact the support team 24/7 either through live chat or by sending an email. The support staff has been reported to have fast response times, responding in a few minutes via live chat support and within 24 hours via email.
To sum up, this all-encompassing, feature-complete sportsbook and casino carries on the legacy of bitcoin-based casinos by embodying many of Bitcoin’s core properties while offering players an accessible on-ramp to the future of finance.
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The post The Legacy Of Bitcoin Casinos Grows With The Technology appeared first on Bitcoin Magazine.