You have probably already heard about the spikes in the value of the Bitcoin and some other cryptocurrency. It may also be unclear to you, why most of the online casinos do not include it as a payment method while so many people have it. There are some reasons why you will not find it in the banking options of casino-chan.ca or other advanced gambling platforms.
If you want to become a professional gambler, you have to understand the financial side of the gambling and some nuances connected with banking. It is not enough to know the rules to gambling activities to make the experience profitable. The article dives into the details of the use of cryptocurrency as a payment method.
Drawbacks of Bitcoin
In fact, some of the casinos provide an option of using Bitcoin as a currency with the help of mediator websites. However, why is this popular cryptocurrency not present on every online gambling platform? The major problem with it is that it is almost impossible to track the transactions made with Bitcoin, which is quite undesirable for the casino. It allows scums to use the banking system of the gambling platforms to convert cryptocurrency.
Another issue is the high instability of the exchange rate of Bitcoin. The latest events have proven once more that you cannot rely on the cryptocurrency completely. The rate of it depends on so many factors that casinos cannot adapt to it easily. That is why those who allow using it have to use third-party websites to transfer Bitcoin to USD or any other ordinary currency. It is just too inconvenient for the platform to include it in the payment methods.
The best alternatives to the Bitcoin
If your favorite casino does not allow using cryptocurrency for depositing to account you can always find a way out of this. The most obvious and yet most convenient way is to change it for yourself using a proper website. Thus, you will be able to control the exchange rate much better and you will be the one in charge of the transfer operation to control it better.
Cryptocurrency is still very new for the majority of the platforms so you do not want to rely on it completely, not with internet casinos. Websites just have not implemented the use of Bitcoin appropriately yet.
Do not hurry to look for another gambling platform just because yours does not provide a Bitcoin payment method. The instability of the exchange rate and complicated process of transfer makes it one of the worst currencies to use in the casino. Moreover, the website is not able to track the money operation due to the nature of Bitcoin, which is not safe.