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Let's go over some of the history of these evolving systems, to explain why so many platforms are using Bitcoin gambling as a way to bring online gaming communities together.
Bitcoin gambling and the use of cryptocurrency in online casinos is something that has caught on quickly in a big way. But why?
Online Gaming and the Blockchain
First, let's start with the broader idea of digital gaming, as opposed to playing in traditional casinos.
Obviously, it's easier to play in your pajamas than to take a trip to a brick-and-mortar casino. But in the days of the early Internet, this advantage was still sort of offset by the difficulty of creating vibrant online systems.
As we moved from web 1.0 to web 2.0, it was still difficult to really create a robust digital gaming environment. Today, as we move from web 2.0 to web 3.0 [3], it's worlds easier, and the detail of what's possible online is, by yesterday's standards, absolutely amazing. Now as cutting-edge companies ponder “avatar robots” that can go out into the world to allow humans to live vicariously through them, online gaming is somewhat of a standard. But it’s still changing and improving in all sorts of ways!
A Good User Interface
Now, to Bitcoin gambling in particular [4] – many of the characteristics that make Bitcoin useful for digital transactions also make it a perfect medium for online gaming value transfers.
Bitcoin may have originally been intended as a payment medium, but it quickly became more of an investment product. It does have volatility in its per-coin value – but it also has the innate ability to function as a store of value, and yes, a medium of value in certain ways.
Now think about how casinos work – creating immediate payoffs that transfer value from the house to the player, or from one player to another, and back again. Simply put, the inherent consensus-based verification and frictionless transaction value of Bitcoin make this coin extremely useful in creating the best online casino interfaces around.
Bitcoin On-Ramps
To really have something that gets a lot of buy-in from the average person, you have to have a certain critical mass of infrastructure and familiarity. People don't like what they don't know and don't see around them.
But in a few short years, we've gone from Bitcoin as this esoteric idea, to Bitcoin on the street, in major digital payment systems like PayPal, and perhaps most importantly, in ATMs.
The ATM is the ubiquitous money machine from which we get our immediate folding money. Putting Bitcoin capacity into the ATM is going to get millions more people to take that extra step and buy a little bitcoin to explore what's possible with this digital money.
Bitcoin Gambling and Casino Functionality
As mentioned above, Bitcoin makes all sorts of things possible in terms of easy digital transfers. Things like bonuses, cashback offers and more can be easily accommodated with permissionless trading and frictionless transactions unencumbered by traditional bank verification.
Anonymity and Access
As an extra bonus in Bitcoin gambling, players also like that they don't need to prove who they are or have the online casino delve into their financials. They're able to play in relative anonymity, of course, keeping in compliance with a platform’s KYC/AML regulations.
Access, too, is critically easy. Players who don't want to spend time filling out forms and dealing with red tape love Bitcoin gaming for its immediacy and ease of use.
These are some of the reasons why Bitcoin gambling has become so much a part of the online gaming community! Take a look at some of the top venues [5] for Bitcoin gaming in a modern environment.