Cryptocurrency in 2017 was a phenomenon in which nobody expected, Bitcoin was the main culprit in this since it absolutely surged last year in 2017. This was the complete all-time high for this well known currency. But it wasn’t as well known back in 2008 as it is today, nowadays it’s almost impossible to browse the news without seeing an article about Bitcoin. Bitcoin was created in order to bypass the bank to bank money transfers, it was so people would be able to have an online currency with no banking strings attached. Bitcoins are paperless unlike the usual currency we are all used to such as pounds and dollars, so this is also a big plus for the environment with it being electronic. Bitcoin was created by a pseudonymous software developer named Satoshi Nakamoto in 2008 who called it a ‘Peer-to-peer electronic cash system’, but still to this day nobody actually knows who this man is nor have they ever seen him. It’s a mystery, there was an article about a man who had the same name, Satoshi Nakamoto, but he claimed to not be the Bitcoin creator himself. Now in 2018 it has been a little bit more unstable with talks of it crashing, but the thing is, nobody really knows what is going on in the crypto world. It’s a risk in which people take by their own will, and it makes a lot of sense in why this may become a hobby for some to continuously buy and sell cryptocurrency. The great Bitcoin surge was by no means something that was building up over time because this amount in which it surged was something absolutely unreal, it reached $7,600-$8,100 in November 2017, and then topped this with an all time high of $17,900 in December 2017 .
This is when the big Bitcoin curiosity from people in the unknown began. All of a sudden there were people who were kicking themselves over not investing when they were advised to, and others who were merely asking what the heck is Bitcoin?! Truth is, it is a cryptocurrency which has had a lot of stick, but has also created many, many billionaires in 2017. Bitcoin is being used more and more overall, whether it’s from making online transactions, paying bills, or even playing on top rated casinos
. We still believe that there is so much more to come in terms of cryptocurrency and trading, we don’t know how exactly this year will pan out, but it sure is exciting to keep an eye on it.
The real question we are all here for is, what can we expect from cryptocurrency and online casinos? And what are the benefits of using currencies such as Bitcoin on our favourite casinos? Well friends, there are actually many reasons why using cryptocurrency proves to be a lot more safe, and many UK casinos are jumping on the bandwagon by accepting Bitcoin payments and deposits. A couple of main factors in why online casinos have started accepting Bitcoin payments is because of the fact that it includes very low transaction fees. The reason for this is because the design of the currency allows transactions to be efficient and smooth, bitcoin users can specify exactly how much fee to pay, so instead of the recipient specifying the fee, bitcoin users have the responsibility to pay all of the necessary Bitcoin transaction fees. Another factor in why Bitcoin is accepted throughout online casinos is due to the excellent security of transfers and the pure transparency of it all. Bitcoin being an anonymous currency pretty much cements your security worries allowing players to feel secure about paying certain amounts and making certain large deposits on casinos. Online casino players can feel one hundred percent safe that their personal data and information will remain safe and discreet whilst using Bitcoin for their deposit bonus
or welcome bonuses!
What we just touched on about the excellent security of Bitcoin transfers, and low transaction fees are mostly the benefits in why online casinos don’t mind accepting Bitcoin as a form of currency. It’s very much a positive for them, and the players, there are further reasons in why this cryptocurrency is accepted, and that is due to the fact that in many countries, online casino is still not legal and players still want to find a way to play online slots
. Since transactions with Bitcoin are private and are not processed via a third party, there is absolutely no need to submit credit card information so your discretion is inevitable. Withdrawals with Bitcoin are also a credible element as they are instant, so if you happen to have stumbled upon that big jackpot win on one of your favourite casino games, you will be able to withdraw the money immediately unlike the usual payment processors which tend to take 2-3 days to process. Most online casinos really have no issue with the whole Bitcoin explosion, now, not all casinos will accept Bitcoin, but as of now there are many to choose from if you are looking to explore your cryptocurrency options.
What we will touch on now is what the future looks like for cryptocurrency and online casinos. There are already quite a lot of online bitcoin casinos, and they are well established, but what else is there to come in terms of using these sorts of money transfers? There are hundreds of studies about where Bitcoin will be going in the future, and for the most part, the future looks very bright. But as this is not a sure thing we can’t know, we can only gather resources, and look at studies and then decide for ourselves what the most realistic situation would be. It was a tremendous year for Bitcoin in 2017, and a tremendous year for those Bitcoin investors as they were seeing an unbelievable return in what they had put into this currency. The question after this happened was...do we withdraw, or do we leave it? It was difficult to know what to do, because how were they to know if it was set to plummet, or to soar even higher? It’s definitely possible that most people were sitting in absolute awe with their jaw dropped wondering how in the world this happened. It’s exciting to wonder what will happen next, will all online casinos expect and accept Bitcoin? Will new uk casino sites
create certain promotional bonuses just for cryptocurrency? There are so many questions, and so many possibilities which make us realise just how much we adapt to new inventions and new ways of going about things. It is 2018 and we are by no means a stranger to technology, in fact we embrace it for the most part, and so far we have definitely embraced Bitcoin.