The Rise of Bitcoin Casinos in South Africa

Bitcoin gambling is on the rise, particularly in South Africa, where there are many benefits of using bitcoin and other cryptocurrencies to place your online bets rather than South African rands.

Bitcoin casinos have been available since 2012, and the first bitcoin live casino, offering live table games to South Africans, has further expanded the market in recent years. The online gaming arena is now populated with a large array of reputable Bitcoin casinos, and this is particularly true in South Africa. All of this leads to the question, why are Bitcoin casinos so popular in South Africa?

Bitcoin is Already A Popular Choice

It’s important to note that Bitcoin is already a popular payment choice in South Africa. Using cryptocurrency here is often faster and more convenient than using conventional currency, particularly if you are making overseas transfers or transactions. Businesses are also finding that using cryptocurrency can boost their profits, as they don’t have to transfer their payment funds from Rand to US Dollars in order to pay overseas suppliers. This same rule could well apply to online casinos: If you are interested in gambling in a virtual Las Vegas casino, but find the expense of currency transfers off-putting, you could pay with bitcoin (or another cryptocurrency) instead, enabling you to maximize any potential profits.

Bitcoin Casinos Are Universally Accessible

The nature of bitcoin casinos means that they have to accept bets from any player who has enough bitcoin currency available to place a wager. Bets can be placed from anywhere in the world, regardless of what local restrictions on online gambling may be in place in that region. You don’t have to pay charges (or those charges that you do have to pay are minimal), you don’t have to buy dollars, and your transaction processing times will be much more rapid too. What’s more, playing can maintain complete anonymity, which is incredibly appealing to some online casino users: you don’t necessarily have to share your name, location, or banking information with the online bitcoin casino that you are using. Of course, this does raise questions about compliance with the regulatory authorities in various regions, but from a user point of view, the lack of many of these regulations on makes the online casino arena much more accessible.

Bitcoin Gambling Provides Safety and Security

Along a similar vein, Bitcoin gambling also provides safety and security to users, something that is of particular importance to online casino users in South Africa, where financial fraud is such a rife problem. At the highest level, using Bitcoin rather than local currency keeps you safe from government’s prying eyes and ever-increasing overreach. But there are safety and security benefits on a smaller scale too: by using Bitcoin, you don’t have to share your bank account details with the online casino website that you are using. This minimises the risk that your account details could be cloned or stolen, helping you to keep your bank account safe and your money protected. Bitcoin provides a reassuring cloak of anonymity that so many online casino users find reassuring.

It’s important to note that if you are using a cryptocurrency exchange like Coinbase, Bitstamp, or Binance then some tax authorities in some regions have already imposed legal requirements on these companies to disclose the details that they have available of their account holders. For this reason, if anonymity is important to you, it makes much more sense to use your own Bitcoin wallet to transfer funds to and from your online casino account, preserving your anonymity and keeping your funds as safe (and secret) as possible.

Source: ghgossip.com

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