The cat is out of the bag. According to an April study from Cambridge University, there are up to 5.8 million people who use some form of cryptocurrency to do business. The vast majority of these people are using bitcoin. This was the pioneer of the decentralized digital currencies, released in 2009; it first popped up on exchange charts the following year at six cents US per bitcoin. At press time, a bitcoin is worth US$2,726.43.

Aside from the increase in valuation, there are many reasons why people have switched to bitcoin to conduct transactions – including right here at Bodog Casino. Here are the top five reasons:
 

Control

As a decentralized currency, bitcoin has no ties to any central authority – no government or government party, no banks, no federal reserves. You are in charge of your money.


Convenience

It’s easy to send and receive bitcoin. All you need is a digital wallet; at Bodog Casino, we recommend using the Electrum wallet if you’re using a desktop platform, Bread if you’re on an iOS mobile device, or Mycelium if you’re on an Android device. You can make more transactions more often at Bodog when you use bitcoin, with higher limits as well.
 

Security

All bitcoin transactions are recorded on a public ledger known as the blockchain. You don’t have to enter any personal information when you make one of these transactions; there’s a public key that shows your bitcoin address, and a private key that remains hidden. Those two keys together act as your digital signature.
 

Speed

With fewer intermediaries getting in the way, bitcoin transactions take almost no time to complete – within 15 minutes is the norm on deposits and withdrawals at Bodog Casino. If you want to make a withdrawal using other payment methods, you’ll have to wait 4-7 business days after approval.
 

Price

Taking out the middleman makes it much less expensive to conduct business using bitcoin. That means you can make both deposits and withdrawals at Bodog Casino without having to pay any transaction fees.

Given all these advantages, it’s easy to see why bitcoin is on the rise. Interested in making the switch? We’ve created a bitcoin tutorial to guide you through the process, and you can also consult our bitcoin FAQ for more information. See you at the tables.