It’s still uncertain what the future will be for cryptocurrencies. The number of people who buy a cryptocurrency is growing every day, as are the wallets. At the moment there are already hundreds of them, of which Bitcoin, Ethereum and Litecoin are the most famous ones. More and more companies are interested in using cryptocurrencies and nowadays you can even pay with some.
The use of cryptocurrencies in the gambling market
There are still some interesting areas where cryptocurrencies might be useful. One of these is the gambling market. Cryptocurrencies can be useful in casino games, especially because the online gambling market is still growing. Online poker is one of the games that can benefit most of it. It’s actually a miracle that no one realizes how many advantages cryptocurrencies can have for this game. Think of the fact that cryptocurrencies and online poker are both digital. Transactions take place within second and people using it have a lot of privacy. What’s more, you can make transactions totally anonymous if you want.
Benefit from a legal void
Cryptocurrencies solve many problems for the gambling market. Take the prohibition of online gambling in several countries, for example. When online gambling is not allowed it’s not possible to deposit money in an online poker account. You cannot use the money from your bank account for this purpose. However, cryptocurrency is considered to be a property and not cash. Thanks to this legal void you can use cryptocurrencies like Bitcoin or Ethereum for online poker. Great news!
Play anonymous poker and use digital coins
The anonymous part of cryptocurrencies is a big advantage for Online Poker players. They can use huge amounts of cash without having to pay taxes on it. Some of them don’t even mention their spending when taxes need to be paid. However, this can be risky and is your responsibility. Of course there’s a negative side to cryptocurrencies as well. It can be really volatile, which is not always good news for gamblers with virtual coins. On the other hand, sometimes the worth a certain coin can rise to incredible heights. If a gambler has this virtual coin he or she is very lucky. The amount of money someone wins is multiplied automatically while doing nothing at all! Of course you could also play another casino game while in the meanwhile.
Advantages for companies
Not just gamblers, but more and more companies discover the advantages of cryptocurrencies in the online gambling market. It makes sense that digital coins are used for Online Poker. It’s much cheaper because there are no bank charges. So business who create cryptocurrency based Poker games have to pay less money. Besides that, players can leave a poker of your income in the cryptocurrency market. Perhaps you’re already convinced. Hopefully the value of your coins will rise. With more money you can win bigger at Online Poker!
Keep your coins in the wallet
Many casinos already use special accounts and wallets where you can keep the virtual coins. You can buy and sell them within seconds. Usually it takes a lot of time to withdraw your prize money to a bank account. 72 hours is no exception. This can be very annoying if you need money as soon as possible. Cryptocurrencies solve this problem, because they work really quick.