Thanks to cryptocurrencies, society has moved away from old-fashioned payment methods, and now we’ve seen a big change in how we make payments. New cryptocurrencies are always popping up, but one stands out, especially in the online gambling world, and that’s Bitcoin. Throughout the years, Bitcoin has held its own crown and dominated the crypto market despite all its upcoming competition. Why, you may wonder? That’s a question we’ve answered below.
Bitcoin is, without a doubt, the most accepted cryptocurrency in the world. It’s so mainstream that it’s a legal tender in countries like the Central African Republic (CAR) and El Salvador. No other cryptocurrency in the market has achieved this feat.
Additionally, most companies and merchants have accepted it as a payment method. Many of the online casinos, like the ones on https://www.online-casinos-nj.com/, widely accept Bitcoin more than any other crypto.
Bitcoin is also more accessible than most other crypto assets, with more exchanges, merchants, software, and hardware backing it up. When betting via Bitcoin, you can easily get its tokens via exchanges like Binance, Coinbase, eToro, and P2P platforms and top it up without much hassle.
A Massive Head Start
Bitcoin has been around the block for a while and has a rich history. In 2009, when Bitcoin was first mined, it was pretty much the only cryptocurrency around for about two years. By the time other digital currencies finally came onto the scene in 2011, Bitcoin had already made its mark and even started creeping into online gambling.
Thousands of people were using it, and even more were mining it, even though it was worth about $13 per coin back then. When that second cryptocurrency debuted, over 8 million Bitcoins were circulating the digital networks, with a whopping market cap exceeding $100 million.
Fast forward to today, and no other cryptocurrency has even come close to matching that. Bitcoin still commands an incredible 50% of the overall cryptocurrency market. So, if you’re wondering why Bitcoin is such a big deal in online casinos, it was here first and remains the leader of the pack.
Better Casino Bonuses
Many online casino players are flocking to Bitcoin for one simple reason—its incredible bonuses. Casinos are always eager to entice players, and they do so with perks like free spins and match bonuses. However, the real game-changer is Bitcoin bonuses.
Nowadays, you’ll discover most online casinos are inclined to Bitcoin-related bonuses more than other payment methods, including cryptocurrencies, making it a go-to for most players. These rewards are given in Bitcoins, letting you earn some extra cash for your gaming achievements.
The beauty lies in their generosity, often surpassing what traditional bonuses can offer. Some even go as high as 2 BTC, worth over $52,000. While these are a dream come true for high-rollers, they also come with wagering requirements, making them more suitable for serious players. So, if you’re still using traditional currencies for your casino bets, maybe it’s time to consider the Bitcoin advantage.
A Brighter Future
Thanks to its pioneering blockchain technology, Bitcoin is well-positioned to remain the leading cryptocurrency in the realm of online casinos and beyond. This technology has opened doors to innovations such as smart contracts and decentralized finance (DeFi) apps, and its transparency and immutability have the potential to transform various industries.
What sets Bitcoin apart is its growing acceptance among mainstream players, with leading companies such as Tesla, Square, and MicroStrategy investing in it and signaling its legitimacy as an asset class.
This institutional support has a ripple effect, inspiring others, including online casinos, to follow suit. Furthermore, BTC-focused financial products like ETFs and futures contracts are solidifying its status among institutional investors. All these factors make Bitcoin’s future look promising in the world of online casinos and beyond.