In today’s world, the number of online casinos is growing dramatically, and hence, there are millions of customers of their websites every day. They have evolved in almost every country with great success, and they began to implement different kinds of payment methods, including cryptocurrencies.
India did not miss out on this trend as well since the number of Bitcoin casinos is encountering in this country. They have started establishing crypto casino websites ever since they got access to the internet, and as a result, today, Bitcoin is considered the most convenient playing currency on Indian gambling sites.
The Popularity Of Gambling
The first reason behind the popularity of gambling websites in India is obviously the number of living people. Everyone knows that India is the second country in the world in terms of the population behind China. So, it is no surprise that so many people are willing to play in online casinos.
They have also followed the trend of using cryptocurrencies as gambling resources for their websites, and they have created a first Bitcoin gambling site soon. It’s noted that Indians have encountered several obstacles as well since the government started establishing strict and unclear rules regarding casino websites. However, this did not stop the majority of people to play, and casinos continued developing even more.
Due to the laws mentioned above, the Indian government has made gambling with traditional currencies very hard. People have reported that their transactions were getting declined especially when using famous paying methods including Visa and MasterCard. Consequently, it was necessary to form some different kinds of resources to make safe and anonymous transactions.
Why Bitcoin Is The Best Cryptocurrency For Gambling
Cryptocurrencies carry several beneficial qualities, and they are utilized in several industries, including gambling. So, Indian casino sites started to launch Bitcoin and other cryptos as payment methods for their customers.
The cryptocurrency is decentralized which means that it is not connected to any type of governmental institution. When you are making transactions using Bitcoin or other cryptos you have the possibility to remain anonymous and don’t verify your identity. This is especially beneficial for citizens considering the legal situation around casino websites in India since they have no way to identify you.
Additionally, cryptocurrencies ensure easy and fast processes of depositing and withdrawal in Indian casino websites. If you are lucky enough to make a deposit using a traditional payment method, it will most likely take a very long time to proceed and the same goes for withdrawal funds as well. In the case of Bitcoin, you are able to process transactions almost instantly and save a significant amount of time.
Bitcoin provides a highly secured platform for your transactions with the help of blockchain technology. There are countless instances of cheats and manipulation in the gambling industry, especially when the government does not provide enough security for the gamblers. Therefore, cryptos have made it possible for Indian casinos to solve this issue as well. Blockchain technology includes a pretty complicated mechanism that ensures absolute safety to your transactions.
Many of Bitcoin gambling sites also offer provably fair technology to the customers. This means that players have the opportunity to check the results of previously played games in order to confirm the fairness of the games. This technology prevents the operators of every casino game from cheating on you, and hence, every winning or losing will be decided 100% legitimately. The provably fair system is one of the most outstanding attributes of crypto casino websites, and India is actively launching them into their games.
Bitcoin casino offers extremely low fees and taxes to the gamblers when it comes to depositing and withdrawal of the funds. This is especially important as the traditional Indian casino websites always take a lot of money out of your pocket when processing transactions. As for the cryptocurrencies, the fees are reduced significantly and some of them do not even include any kind of taxes at all. Hence, you are able to process every transaction very quickly and without any unnecessary handouts.
India excellently acquired every development made in the gambling world in recent years. They have successfully introduced cryptocurrencies as payment methods on most of their casino websites. This has opened a lot of opportunities for gamblers as they started using Bitcoin and other cryptos for playing casino games.