The Rise of Bitcoin Slots
The hype of bitcoin is on the rise. There are less than 50 bitcoin slots available compared to the thousands that are currently lined up in casinos all around the world.
What is bitcoin?
Bitcoin is one of the few cryptocurrencies that has been taking off and increasing in value within the past several years. It has been developed by a Japanese software developer named Satoshi Nakamoto and serves as a digital currency. One of the features that makes this special is that it is completely decentralized so that no one person or authority can control it. This currency is produced by people and businesses around the world through mathematical softwares and formulas. Just a few weeks ago, one unit of this currency was being traded at $1,292.71 compared with $1,226.89 for an ounce of gold – that is big news.
What else makes bitcoin so unique?
• They aren’t printed
• It is based on mathematical formulas
• Completely transparent
• Very low transaction fees
• Transactions are instant
• Everything is virtual
• Identity is well protected
Bitcoin and the igaming world.
With its massive jump in popularity, it makes sense to also incorporate it into the igaming world. Bitcoin slots are grabbing the bitcoin community’s attention, especially with Endorphina’s slot “Satoshi’s Secret.” Satoshi’s Secret is the first bitcoin slot to incorporate a bitcoin theme on 6 reels – setting itself aside from the traditional slots of 3 reels. All of Endorphina’s slots have the capability of being played directly with this digital currency, which is why Endorphina is now the number one game provider for Bitcoin casinos.
Why is it so attractive?
A reason why players (and bitcoin users) are so attracted to bitcoin casinos and slots can be attributed to its level of anonymity. Many bitcoin casinos require only a very minimum (sometimes just a login or email) when it comes down to user details. Any bitcoin transaction is kept anonymous in terms of your personal information. Only the bitcoin address which receives and sends the currency is recorded. No names are displayed and your personal information is always anonymous.
Another reason is that bitcoin casino sites have zero transaction fees with unlimited free daily transactions, unlike the traditional currencies that have limits and high transaction fees. This feature in itself brings about a community of players worldwide who are not restricted by the standard rules, allowing them to play more and to experience slots that have more customized tweaks – in turn creating a lot of attention and favor towards bitcoin slots in general.