Bitcoin, abbreviated as BTC, is the oldest and, of course, the most popular cryptocurrency globally. It is equally popular in Slovakia and attracts all kinds of gamblers, including fans of live dealer games.
For starters, Bitcoin is a decentralized currency introduced to the public in 2009. While Bitcoins are created as a reward for a process known as mining, anyone, including Slovakian gamblers, can buy Bitcoins from exchanges.
Today, Bitcoin gambling has become a thing in Slovakia, and that’s why Slovakian live casino operators are making Bitcoin deposits available to players. So, why is this crypto so popular in Slovakia, especially among live dealer games enthusiasts?
Well, three reasons explain why Bitcoin is popular at Slovakian online casinos.
The main advantage of Bitcoin is anonymity, courtesy of its pseudonymous nature. The currency is not under any financial administrator. It is sent on a P2P Bitcoin network, eliminating intermediaries, for example, banks. Players who don’t want their gambling activity to be traced can deposit Bitcoins to their casino accounts and withdraw winnings without leaving a trace.
Faster, Secure Transactions
Another advantage of Bitcoin gambling is fast and secure transactions. Unlike fiat currencies that are centralized and go through lots of bureaucracy, there are no intermediaries in Bitcoin live casino transactions. So, the process is much faster as there are no verifications and other bureaucracies. Besides, Bitcoin transactions are secure now that the currency is backed by blockchain, a comprehensive risk management system.
Relatively Low Transaction Fees
Bitcoin deposits and withdrawals are also relatively cheap compared to fiat currency transactions. This is because there are no banks and other financial institutions in between that tend to charge high fees for their commercial reasons. That means live casino fans will have higher bankrolls when using Bitcoin.