23 Jan Posted by admin No Comments » Category: Casino

Bitcoins in casinos – know about its transaction fee

Bitcoin (BTC) is the digital crypto currency that came into existence and became popular in the recent times. This currency is totally different to that of fiat currencies and this does not have any banks, it operates solely in the market. The bitcoins can be transacted with the bitcoin addresses of 27 to 34 characters. This character has both numbers and letters. In most of the cases, the transactions with bitcoins are carried out freely without paying any fee. Most important aspects of running an online casino is processing the payment. Whenever a player deposit the amount via credit or debit card or PayPal, there deduct a transaction fee. Most of the gambling sites pay this from their pockets without throwing the burden on the players while few cost it on the users.

Its benefits

The player who wins the amount in the bitcoin gambling has to pay 10% of their prize money for the withdrawal fee. However, if the gambling sites include the transaction fee, then its effects the eventual profits. Moreover, they need to reduce bonus and other profits for the players to compensate the loss. Because of this reason bitcoin gambling has become attractive in the gambling industry. Players can deposit and withdraw the money for free and eliminate the processing fee. This enables the sites to give deposit bonus and spend for promotions. Most importantly, this offers the best payouts for the gamblers.

Bitcoin casino

Another key aspect of bitcoin is that it does not have any tie up with the government or banks. Your funds are safe, they could not be frozen or seized like the fiat currency by the banks. Though, this is not an issue for the people who are playing legitimately in genuine gambling markets, but this all matters to the people who are playing in illegal markets. Most of the US players have their funds frozen by the banks before. But, the bitcoins give complete freedom to the players to do whatever they would like to do with their funds. The best part about CryptoGames are that it offers privacy for the users and do not reveal their identity to anyone. Except few gambling sites others will not ask for any email address or personal details to start the game. This gambling is extremely anonymous. This gives a wonderful gambling experience for the players with no obligations, no taxes, no transaction fee, and no delay of payment.

You can purchase the bitcoins either through bank transfer or dedicated exchanges. The transaction made are totally anonymous, thus ensuring the privacy of the users. Moreover, the complexity involved in each transaction makes the online transactions more secure. This provides a wonderful opportunity for the sites to allow the players from different jurisdictions to participate in the gambling, which is not the case with traditional ones. However, you can transform bit coins into cash or spend it directly.

 

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