In an effort to enhance the safety and security of payments processing options, online casinos are eyeing cryptocurrencies like Bitcoin. Digital currencies have multiple advantages over traditional payments methods, and they have the added advantage of anonymity. The convenience and user-friendliness afforded to players by cryptocurrencies are a big part of their appeal. Leading the charge is Bitcoin, but other cryptocurrencies are also available in the form of Namecoin, Clam, Litecoin, Monero and Reddcoin among others.
Coin transfers between players is possible, and player to player transactions are uncapped. However, some online casinos may live the commissions on transactions that exceed a certain dollar amount. The manner in which transactions work is as follows: players can transfer coins from their wallets to each of the addresses that are available for each of the cryptocurrency coins like Bitcoin. It should be pointed out that every coin will be associated with a unique address key. Withdrawal of coins from an online casino account is easily accomplished by clicking on the withdrawal button and then completing the withdrawal amount (provided it is available). Upcoming Bitcoin Benefits
Online casinos that will be adopting Bitcoin as an accepted form of payment are also working hard to create player loyalty programs. When players wager their coins, they earn valuable BTC to be deposited into their accounts. Various rewards are available in the form of cashback, prizes, lossback etc. there are discussions underway for a BIP (Bitcoin Improvement Proposal) which is slated to improve the functionality of the cryptocurrency’s blockchain. In online casino gaming, one of the primary concerns among players and site operators is security, and proposal such as the one by Johnson Lau are quickly gaining the attention of site operators.
The scripting language that defines Bitcoin will be bolstered by additional opcodes , as […]
