While some understandably see the words ‘frugal’ and ‘gambling’ as mutually exclusive, they don’t have to be.
While the value of bitcoin can fluctuate wildly, it still offers the frugal gambler peace of mind from a financial point of view.
by antanacoins
There are currently a minority of online gambling sites that accept Bitcoin, and among them, vegascasino.io is one of the most highly regarded. Here are some of the benefits of using Bitcoin to gamble online.
No fees
The grand appeal of Bitcoin comes from the complete lack of transaction fee. Most payment processors such as Visa, Mastercard and American Express charge lofty fees to merchants. The knock-on effect of this is that while it may be convenient, using a traditional method of payment to gamble is costing you more as merchants charge you fees to recoup expenses.
People can’t steal your personal information (or your money)
When credit cards were invented in the 1920s, the internet did not exist. With this in mind, it is clear that credit cards were never supposed to be used online. And while internet security has surely improved over the last two decades, most ecommerce and gambling sites still require you to fill out online forms that store your personal and financial information.
And while your information is stored online, there is always the risk of some clever hacker stealing it. On the other hand, Bitcoin ensures your complete anonymity. Indeed, even the true identity of the Bitcoin founder remains a mystery. It is literally impossible to commit the kind of fraud for which credit cards have become notorious.
You don’t need to trust anyone else
Traditional banking systems are becoming increasingly automated. Yet the fact remains that people are involved at several points in the chain of any transaction, which in turn means that you are forced to put your trust in those handling your sensitive data.
The great thing about Bitcoin is that it is completely decentralized, while all transactions are digitally signed and totally secure. So, if you are loathe to trust those running conventional online gambling sites, Bitcoin ensures that even the most frugal gamblers can throw at least some caution to the wind.
It’s fast
Payments are instantaneous which ensures that you receive your winnings quickly. Despite some volatility, Bitcoin is fast becoming the most frugal way to not only gamble, but to spend in general.