The Effect of the Bitcoin Crash on Online Gambling
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The value of Bitcoin declined by nearly 23% in 4 days in early June this year. The value for the other cryptocurrencies plunged as low as 31%. Online casino gambling is still popular because of its convenience and anonymity.
The Bitcoin crash has a negative impact on online gambling. Bitcoin casinos offer anonymity to their customers. The freedom it offers to bet without worrying about a breach of personal data is appreciated.
The Bitcoin crash has affected the ease of transferring money from online casinos to the account. Traditional transfers take a week or more, whereas Bitcoin transfers can happen in 30 minutes.
The influence of low gambling costs on the market is significant. Bitcoin casinos charge an insignificant fee that goes to the miners who sustain the blockchain. They eliminate the withdrawal limit, which is a negative aspect of conventional casinos. The market has dipped again, but it will still rise in 2022.
