Virtual casinos embracing Bitcoin

Published On June 7, 2016 | By Edgar Jose | Poker Tips

Currently under discussion is the so-called Bitcoin Improvement Proposal aiming to refine the performance of the blockchain protocol underlying BTC.

Aware of their numerous advantages over conventional payment solutions, online gambling portals are considering the integration of Bitcoin as one of the methods of enhancing their own efficiency, user convenience, and sustainability. Aside BTC, there are over a dozen other cryptocurrencies also available to be used at online casinos and sportsbooks.

One of the many benefits of crypto-payments is the possibility to make fast P2P payments, with no limit applied to amounts sent or received. During a transaction, funds can be transferred from a wallet to any unique receiver’s address. In order to have your winnings sent from your gaming balance to your personal BTC wallet, you just need to specify the amount of funds, and click the corresponding button in the menu.

Looking forward to offer their customers something more than just a bare set of BTC advantages, operators also leave no stone unturned to come up with lucrative loyalty programs, so as to enable customers to benefit from gameplay, and get various valuable rewards. Frequently enough, however, players may be looking for somewhat more mundane things.

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Currently under discussion is the so-called Bitcoin Improvement Proposal, or BIP, aiming to refine the performance of the blockchain protocol that BTC is powered by. As further explained by Johnson Lau, the initiator of the Proposal, with security seen as one of the most crucial aspects of the gaming environment by both players and operators, the protocol is to be updated with extra operation codes modified by state-imposed regulatory norms that cryptocurrency should be subject to. At the early stage of blockchain existence, most of these codes were deactivated for emergency reasons, but, according to Lau, it’s quite easy to restore them to make blockchain more efficient and enhance transaction privacy.

Since the moment Bitcoin became a part of virtual gambling, the industry’s true leaders like the innovative BitCasino.io gambling website were eager to explore the full spectre of its benefits, including a possibility to offer their customers something we know as provably fair gaming. Many of them succeeded in creating absolutely trustworthy gambling environments for players, and, without Bitcoin and blockchain, such security technologies and functionalities would have simply remained a concept.

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