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Bitcoin GamblingBy Expert Author: Ariel Brady
Bitcoin has become a popular currency in different parts of the world, many business are now accepting it as a means of payment. Bitcoin is competing with other payment methods such as Master Card, Visa, PayPal. Since its launch in 2009, the digital currency acceptance has been growing with companies, both online and brick and mortar, accepting it as a means of payment for their goods and services. With Bitcoins people can transact freely and instantly at any time and without physical border restriction. Since there are no third parties involved in the transaction sending money from one person to another can be as quick as sending an email.
There are many factors which have led to the fast growth of Bitcoin. One of the factors is that it is not regulated by the government and is not subject to central government regulatory measures. Most currencies are fully controlled by a central authority, in most cases the central bank. The regulating body has authority over the currency price but when it comes to Bitcoin it is decentralized and generally an open source software. The system is transparent; its price is not regulated on free market.
The fact that Bitcoin is widely accepted without having to be subjected to government control and fees makes it an ideal payment method for the gamblers especially those who find it hard to bet on their favorite games using their country’s currency. Despite the fact the Bitcoin is accepted as a currency which one can use to make bets, it does not mean that the local gaming rules or legislation do not apply. Any gambler who is using it as a betting currency have to understand that the local rules apply and have to be complied with at all times. The only thing that the Bitcoin gambler or bitcoin gamble is exempted from is the checks which traditional gambling sites have put in place.
Transacting using Bitcoin gamble is simple, quick and also secure, all that one has to do is make sure they have Bitcoin wallet that is ready for use. While using Bitcoin to place a bet, the player experiences a quick, anonymous and safe deposit and withdrawal transactions.
When it comes to other payment methods, the person who is initiating the transaction is required to fill in some documents and send them, with Bitcoin, this bit of tedious and cumbersome process has been eliminated making the experience smooth and easy.Such a requirement makes it hard for those who would like to remain anonymous shy away from participating in some of the gambling activities but with Bitcoin this is no longer the case.
The fact that Bitcoin as accepted in different parts of the world means that one can play from anywhere without the need of converting a currency into one of the major currencies in the market. This makes it convenient for the players since they do not have to run up and down looking for places where they can exchange the currency.
There has been some controversy regarding the use of Bitcoin in transaction and more so in gambling. The confusion which had been created had already been cleared when a statement to the effect of its legality was issued. As far as Bitcoin gambling is concerned, there are no specific rules relating to use of Bitcoin gamble, it is assumed that it falls in the same category with the fiat currency. If the online gambling is allowed in your part of the world, then Bitcoin gamble is also legal. If in any case online gambling online is not allowed in your part of the world,
gives you an added advantage since it has the benefit of anonymous. You can still engage in Bitcoin gambling anonymously.
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