If you have been following the price of Bitcoin over the last month, you know it has jumped from around $9,200 to almost $12,000. Many believe that the price of BTC is about to skyrocket again similar to 2018.
For those that gamble at Australian online casinos, this should be exciting news. The success of Bitcoin will bode well for online gamblers that are constantly looking for stable deposit options. Today, we will look at why rising Bitcoin prices bode well for online casino gambling.
New Influx of Bitcoin Holders
The first thing you can expect to see as Bitcoin continues to rise is new buyers entering the cryptocurrency space. While the standard rationality of buy low, sell high is the best strategy for any type of investment, the opposite always holds true.
As an investment or cryptocurrency starts going well, people start to try and hop aboard the gravy train. The hope is that the coin will continue to rise and people can benefit from continued massive gains.
This is what happened in 2018, and we can expect it to happen again with the next Bitcoin boom. The more people that hold BTC the more likely they will look for ways to use it or earn more. This will benefit online gambling as online casinos were among the first adopters of cryptocurrency.
Low Entry Point
Bitcoin works differently than other investment tools. First, you are not required to buy full Bitcoins like you would for stocks, bonds, mutual funds, or any other form of investment. With Bitcoin, you can buy smaller bits known as either satoshis or mBTC.
This allows people to enter the crypto space for a lot less than they thought possible. For example, when I started buying crypto, I did so with about $500. That doesn’t sound like much, but it was a start and many people will do the same.
Also, there is the option of entering the crypto space through the use of faucets. This allows you to get small amounts of crypto without spending money. While we are talking pennies at best, there are some casinos that allow you to deposit micro amounts of BTC which you can then try and flip playing online pokies, blackjack, or other online casino games.
More Incentive for Casinos to Accept Bitcoin
While many online casinos now accept cryptocurrency, there are still many that do not. Another Bitcoin boom may help convince casinos to take the plunge with crypto. It was easier for casinos to ignore Bitcoin when the price was hovering at around $5,000 and fluctuating wildly. Now that it is approaching $12k once again, there is a potential for missed income.
Demand often impacts supply, forcing companies to try and meet the demand. As Bitcoin prices soar, online casinos will offer it to customers looking for ways to grow their BTC. Of course, casinos that already accept crypto will increase their profits on cryptocurrencies already owned.
Use Bitcoin at Australian Online Casinos
Most of our online casino partners already accept Bitcoin. Ignition Casino, CasinoNic, House of Pokies, and Johnny Kash are a few examples. Better still, most casinos that accept Bitcoin also offer higher online casino bonuses for Bitcoin deposits. On average, you’ll get a 200% match bonus when depositing with BTC.
The next Bitcoin boom is on the horizon and could get here over the next couple of months. The pandemic is stoking fears over the viability of currency in some countries, so owning cryptocurrency is becoming more attractive to those looking to build wealth. The next boom will benefit online casinos, so our suggestion is to start acquiring some Bitcoin or other cryptocurrencies if you haven’t already done so. You could be setting yourself up for some massive profits in the coming months and years.