It’s no secret that Vegascasino.io is a ‘Bitcoin First’ casino operator. This means that we only accept Bitcoin cryptocurrency as a payment method when gambling on our site. Trading in cryptocurrency has opened up a whole new market and allows us to benefit those who would normally be overlooked, due to fiat currency restrictions. Players in countries such as the USA and some of the restricted Asian countries now have a platform of legal gaming for their convenience.
If you were wondering why ‘Bitcoin First’ casinos even exist when there are so many other alternative cryptocurrencies out there that we could have chosen, then keep reading. We would like the world to know why we prefer Bitcoin at VegasCasino. Below we have listed 6 points to underline why Bitcoin is best.
Bitcoin is the oldest cryptocurrency in existence, having been founded around 11 years ago, by Satoshi Nakamoto. The cryptocurrency showed a very slow climb to prominence, but in 2017 found its feet firmly, having soared to thousands of times its original value and settling at an all-time high of just under $20,000 dollars for a single coin.
That surge will never be forgotten in the crypto-world, and merely showed off what Bitcoin was truly capable of. No other cryptocurrency can boast the same trends and all tend to fall under the shadow of the enormity of BTC.
POPULARITY AND FAME
When cryptocurrency came onto the general public radar a few years back, many people grouped all e-currencies together and referred to them under the umbrella term of “Bitcoin.” Even in the gambling sphere, crypto casinos were automatically called Bitcoin casinos, whether they accepted altcoin or not.
Bitcoin is the father of all cryptocurrency, and as such has become the most popular of the lot. It only makes sense to start a top tech business using this proven e-currency.
The resilience and character of Bitcoin has been tested well. It hasn’t always been ‘easy days’ on the Blockchain. In 2018, only a year after the big Bitcoin BOOM, the currency saw a market free fall of over 80%.
In most instances, that would have crippled other products, but Bitcoin remained resilient and has come back strongly in 2019 and is set to skyrocket yet again. In the last 5 months (1 January to mid-May 2019), the price of Bitcoin has almost doubled. Having started out at a low of between $3,600 and $3,800 per coin, Bitcoin is now climbing towards the $7,500 mark.
Being able to do business with a currency that can be this hardy is vital to maintaining market stability.
FASTER ON THE INSIDE
Various other cryptocurrencies have boasted faster transactional times than Bitcoin. On the outside, this may seem the case, but when we take a closer look into the inner workings of each transaction, we find that the workload undertaken by Bitcoin is far heavier per transaction than those transactions undertaken by its closest rivals. While one transaction may be done faster by a competitor, it is not done as well.
It only takes 6 confirmations on the Bitcoin Blockchain to secure transactions against double spending. These six confirmations are completed in an average of 1 hour and 2 minutes. Etherium, which is the second strongest e-currency in the world, requires 1,400 confirmations to do the same amount of security work, taking an average of 5 hours and 11 minutes. Litecoin takes 250 confirmations to do the same work and takes 11 hours and 19 minutes on average.
By the information presented above, we can clearly see that the faster Blockchain is actually Bitcoin, as it does the work properly in a shorter space of time than its closest rivals.
OFF CHAIN INNOVATION
Bitcoin boasts a number of off chain innovations that make it one of the most sophisticated systems in the world. The Lightning Network makes use of the Bitcoin Blockchain to secure itself, knowing full well that it has the best security features available. This network is designed especially to streamline smaller payments, which would usually be side lined in favour of prioritising big sums first. This way, Bitcoin is able to ensure that both big and small transactions are prioritised.
Other Altcoin competitors in the market space boast features that make them unique and different to the crypto-mould. Such is the weight and strength of Bitcoin, that they could make alterations to their platform if they felt that competitors truly had the upper hand in one or two areas. The Lightning Network is the result of such a challenge. In general though, if Bitcoin do not have the feature, it is because the feature is not deemed to be necessary to maintain the optimum package.
VIVA LA BITCOIN!
After doing our homework extensively, VegasCasino have concluded that there is only one natural choice of e-currency to fund our entertainment offered. Bitcoin outranks the rest in our book.
Visit VegasCasino and witness the benefits of gambling with Bitcoin first hand, as we offer you hot Bitcoin bonuses to extend your playing capacity and help you make the most of your experience.
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