The story of Bitcoin is one of many twists and turns, and the cryptocurrency has become known for its volatile performance on the stock market.
The price of Bitcoin as a commodity has dropped considerably since 2013, from $US1,000 to $US263 in just two years, but it is enjoying a steady revival thanks to the increasing number of transactions that use Bitcoin as a currency.
Charts depicting Bitcoin’s increased popularity in countries like Australia are showing an 80 per cent rise in transactions over the past 12 months. Such is the scale of the boom in Bitcoin usage, skeptics are being silenced and those who previously suggested it is the preserve of cybercriminals are shying away from the discussion.
In the US alone there are an estimated 500,000 to 1,000,000 U.S. digital currency accounts, and the story is similar in Europe. Earlier this year, the United Kingdom made moves towards becoming a global bitcoin hub when the government announced it would regulate digital currencies for the first time by introducing rules that prevent money laundering in exchanges. The country clearly wants to become as powerful a centre for digital currencies as it already is for the $5-trillion-a-day market for traditional currencies.
Electronic payment systems are, of course, a major concern for gamers and gamblers, and many online casino, bingo, poker and sports betting enthusiasts are giving Bitcoin a try.
In response to this growth in popularity, the number of casino sites offering Bitcoin as an accepted currency is on the rise. Leading the way are sites like www.vegascasino.io, where players can make Bitcoin deposits and withdrawals in seconds from the cashier, whilst playing one of the site’s wide selections of casino games, slots and roulette options.
With customer service support teams to help new players get to grips with using Bitcoin as a currency, sites like Vegas Casino also provide maps that show where players can change currency and find the best Bitcoin exchanges, and locate their nearest Bitcoin ATM.
Independent sites also provide a valuable service to Bitcoin and Stablecoin users, by providing a marketplace for people to trade Bitcoins for cash or other online payments.
While Bitcoin’s position as a commodity remains in something of a state of uncertainty, it is well on course to being one of the most popular forms of digital payment in the very near future. For gamers, who seek a safe, simple and cheap way to spend and win money online, this can only be good news.