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Bitcoins Used as Casino Chips

Bitcoins Used as Casino Chips?

Added: August 19, 2013

Bitcoins (BCT) is the online currency that holds the upper hand in the online casino world. We all know the hassles of gambling online, mainly when it comes to making deposits and withdrawals. Many countries have taken a step even further and have banned transactions between online casinos and financial institutios, so many players have been left with no options for online casino gambling. This is no longer the case for those players who have decided to gamble with Bitcoins, and now an extra benefit has been added to the list: using Bitcoins as casino chips.

For those of you who are unfamiliar with Bicoins, let us give you a short run through. Bitcoins are a virtual currency that can be converted into any other currency, but still holds its own value on the market. The best part about using Bitcoins is that it adds another layer of transparency to the game because all online casino transactions are recorded on the Bitcoin website and any player can access their own record in full detail.

The news is that now Bitcoins can be used as casino chips. Casinos often ask you to convert your money into chips, some experts believes this exchange serves the purpose of allowing the player to think the chips are not as real as cash. Online casino services providers are starting to adopt the mentality that Bitcoins already work as chips since the player has to exchange money in their own currency for them, but that they also act as amuch more versatile unit of wager.

“Bitcoins already act like the chips/credits you see on other sites, but inherently have more value since they can immediately be taken off of a wallet on a gambling site and used at places like WordPress, Reddit or other vendors accepting BTC,” said Kevin Meehan, the owner of a Bitcoin operating site.

It seems like the casino world is about to meet the Bitcoin revolution as it is a great idea that will enable players from all around the world to gamble online. No more barriers for transactions with casinos, the only thing that needs to be kept under vigilance is the rises and drops of the market value of the Bitcoin. Would you gamble using Bitcoins? Have you done it before? Tell us about your experience!