Using Bitcoin to Make Casino Deposits

December 8, 2014

There are, to be certain, a lot of different ways that you can make deposits in order to open up accounts at an online casino. So what are consumers looking for? Well, they certainly want something that is fast and easy; that much is a given. It doesn't make any sense to sit and wait for an account to be open, because we would operate under the assumption that if you went over to a casino to sign up, you had the expectation that you could be playing almost immediately.

Also, more and more people, not only in New Zealand but around the world, are looking for a way to open up accounts while at the same time protecting their financial information. It's not as if anyone suspects that an online casino is going to take a credit card number, for example, and run it up without authorization. But at the same time, when customers deal with online casinos, they are dealing with people they don't really know personally, and there's also the possibility that those people not associated with the casino, who may have very sinister intentions, could hack into a system and steal a credit card number.

There actually happens to be a payment solution, which is gathering momentum, which allows for the player to not only get the transaction done almost instantaneously, but maintain a considerable level of privacy and even anonymity in moving forward with the process of opening up an account.

Bitcoin is a virtual currency that is becoming more and more widespread around the world. To explain in detail how it works would take much more space than we have available. But suffice it to say that it operates much like any other currency, in the respect that there is an exchange rate, and its value will go up and down as the market dictates. What makes Bitcoin different from New Zealand dollars, United States dollars or the Euro is the fact that is not controlled by any government entity. It is a truly universal method of exchange.

It is also, we should add, a currency which is exchanged anonymously between parties. When you send Bitcoin to a merchant, or to another individual, names are not part of the transaction. There are only Bitcoin wallet numbers, and that is how the participants in the currency are identified. And since there is no go-between, like a bank, the transactions are more immediate in nature.

The value of Bitcoin when it comes to online casino gaming is not so much in what the value of one BTC is going to be from one week to the next; it is in the fact that it is ideal to do these gaming transactions, because it does not make identifications as far as geographic origin, or name, unless both parties consent. It is also good for the online casinos, because they don't have to worry about the same chargeback problems that happen with credit card companies, and therefore they don't have to to pass on those inherent costs to the consumer. Bitcoin is very well-known in New Zealand, and there are exchanges, as well as conferences, that are dedicated to it. Look for it when you shop around for an online casino. Chances are, if they are not accepting it now, they WILL be.

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