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Bitcoin and Online Casinos

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Bitcoin has really become mainstream in the last couple of years. For whatever reason, people flocked to the electronic currency. The main reasons why people buy bitcoin are:

1. As a investment - It wasn't long ago that the digital currency traded for around $1 per bitcoin. Today, the price has soared to $16,000. If you put just $100 into a bitcoin investment years ago, you'd be sitting on 1.6 million dollars. Who knows where the price willl go in the future, but speculators can invest a small portion of their porfolio in bitcoin if they think the price will rise.

2. To purchase goods - This used to not be much of an option, since many vendors did not accept bitcoin. This is no longer true, and you can use bitcoin to buy goods both offline and online. Its adoption grows wider each year, and I can forsee a day when it become a standard way to pay for goods and services.

3. As an anonymous currency - Bitcoin is not exactly as anonymous as people think, but one big benefit is that there is no middleman such as a bank or credit card company. For this reason, it can be used more easily at online casinos and other places where standard payment methods may not work. Bitcoin slot casinos are one place where you can deposit bitcoin to play slots and other casino games.

The situation with online casinos is a bit tricky. Currently, credit card companies will block transactions where you attempt to deposit money in an online casino. At the same time, certain states have begun to legalize online gambling. The easy way to get around having your transaction blocked is to simply use bitcoin. By the same token, you should not do this if you live in an area where online gambling is not allowed.