Bitcoin deposits at online slots: Is it an option?

You have just got to love the online slot industry, a market that has galvanised countless gamblers, and also made many people really quite rich indeed. Developers like Microgaming or Yggdrasil have been instrumental in pioneering this relatively new form of gambling, and you can see why people love online slots such as Fluffy Favourites Free Spins so much as soon as you begin playing a slot from one of these two aforementioned developers, as well as others such as NetEnt or Eyecon!

Over the last decade in particular we have seen a huge increase in the number of online slots, and especially the number of exponentially more complex and modern online slots, something that proves how technologically minded the industry really is too. One of the newest technological developments when it comes to online slots is the intended ability to make Bitcoin deposits at online slots. Keep reading for an exploration into whether or not it is possible to make Bitcoin deposits at online slots.

What is Bitcon?

The first thing to explore here is what exactly Bitcoin even is, as there will be a huge number of slot gamblers who have never came into contact with this exciting new form of currency. You may have already heard of the term cryptocurrency, something that describes a new inherently 21st century way of paying for goods and transferring funds.

Cryptocurrencies such as Bitcoin are so new and exciting because they do not operate using the standard method of exchange ie. cash. Bitcoin, for example, is a completely cashless alternative to traditional money, it instead derives its value from a series of complicated computer codes called block chains. It also means that there is a finite number of Bitcoin in the world, something that helps it keep its value.

Are Bitcon deposits at online slots a possibility?

Sounds cool, right? And we bet you are wondering whether or not Bitcoin deposits can be made whilst spinning the reels of your favourite online slots. Well, here’s the thing: despite the popularity of Bitcoin it is still fairly in the shadows as it were, mainly because worldwide governments are reluctant to properly endorse it without the required legislation.

However, with that being said there are already several cryptocurrency online casino sites that are offering the possibility of making Bitcoin deposits at their online slots, so it is definitely a possibility in the 21st century, there is no arguing with that.

The pros and cons of Bitcon deposits

So then, what are the pros and cons of Bitcoin deposits? Well, one of the biggest pro when it comes to making your deposits over Bitcoin is the fact that it is completely anonymous and untraceable. Moreover, Bitcoin casino deposits tend to be made instantaneously, so there is no waiting for funds to clear.

On the other hand, the world of Bitcoin is still fairly misty, in that there are a fair few criminal organisations that will be on the look out to use the anonymity granted by it in a criminal way.