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Deposit AND Withdraw Money with Bitcoin
Here at Everygame Online Casino, we are proud of the many different banking methods we offer gamers. To that end, we started accepting deposits in bitcoin a while back. Now we are also accepting bitcoin for withdrawals.
This is very big news for us and it is very big news for all of our gamers, even those gamers who are not yet making deposits or withdrawals in bitcoin.
Why is Bitcoin a Good Banking Method for Deposits and Withdrawals?
Bitcoin provides the most privacy of any banking method at any online casino. A couple of decades ago ewallets were introduced. At that time ewallets were more private than credit or debit cards or direct bank transfers.
Speed is of the Essence
Bitcoin banking is functionally instantaneous. This is not unusual in deposits but it is very unusual in withdrawals. That’s why it is so newsworthy that Everygame Casino is now effecting withdrawals in bitcoin.
Governments Cannot Control Bitcoin
Bitcoin is a digital currency. As such, it is not regulated by governments. It is this very fact that led to the establishment of bitcoin in just 2009.
Bitcoin is called a cryptocurrency. Today there are many cryptocurrencies. However, bitcoin was the first and is still the best known. Everygame Casino accepts three cryptocurrencies for banking:
- Bitcoin
- Litecoin
- BitcoinCash
Safe and Secure
Bitcoins are so anonymous and private that it is exactly that anonymity and privacy that make bitcoin and other cryptocurrencies safe and secure.
For the Curious: A Short History of Bitcoin
The history and development of bitcoin and the many other cryptocurrencies is well worth your attention. Bitcoin will become ever more accepted in trade and there may very well come the time that an online enterprise might require bitcoin as the medium of exchange, that is, money, for an online transaction.
Even the simplest definition of bitcoin involves terms and concepts that are strange to most people. We are told that bitcoins are based in or on a blockchain. Bitcoins are digital money. Bitcoins are decentralized to the extent that they are “regulated” not by any central, governmental authority but by “users”.
This is all very confusing at first glance.
Bitcoin transactions have to be “verified”. Here we learn of yet another odd term: proof of work. In order to verify a transaction users—not the buyers and sellers—have to solve mathematical problems!
Bitcoin and Financial Stability
There are a few attributes of money that have made some things such as gold and silver considered real money for many centuries while many other commodities were considered money at one time but they lost their luster and fell into the ash heap of “former forms of money”.
Money needs to be durable and money needs to be impossible to counterfeit. Gold and silver fit these two parameters well. But then in 2007-2008, the world went through a massive period of financial instability that was created directly by the mismanagement of currency by central banks and centralized government regulation.
Bitcoin was developed as a reaction to the new financial instability of government money - to offer stability to the consumer.
Portable Money
Money has to be moved easily from place to place. This is called the portability of money. As durable as gold and silver are, they are not very portable. They weigh too much. Especially in modern economies where transactions in the trillions of dollars take place, gold and silver had to be replaced and they were by paper money.
In the computer age, a lot of money backed by gold became digital money. Anyone who gets money from a government directly to their bank account is receiving digital government money.
What Makes Bitcoin Special?
Bitcoin is not centralized; it is totally portable as it exists only online, bitcoin can potentially avoid the instability of mismanaged government money. In addition, as far as we know, bitcoin cannot be counterfeited.
Bitcoins do fluctuate wildly in price as denominated by government money. This is a reason to avoid bitcoin but it is also a reason to own bitcoin as a hedge against government mismanagement of money.
The wild fluctuations in the nominal price of bitcoin are considered a reaction to fluctuations in the value of government money. In other words, bitcoin and other cryptocurrencies are a kind of canary in the coal mine that gives people a warning of possible wild changes in the purchasing power of their dollars, euro, pounds sterling or any other government money.
As such, online casino gaming with bitcoin is a veritable drop in the bucket of all the uses of bitcoin in the modern world. That enough gamers want to bank with cryptocurrencies both as deposits and as withdrawals is a testament to the staying power of bitcoin!
Will Bitcoin Replace All of the Other Banking Methods at Everygame?
The online casino market has been around only 28 years! So many changes have taken place in those 28 years that the marriage between bitcoin (all cryptos, really) and online casino banking is here to stay.
Cryptos is sure to be a popular banking method for online casino gaming for the reasons we have delineated here: privacy, portability, anonymity, safety and security, and reliability.
To help get you started, check out our Crypto page to learn all the ins-and-outs of using crypto currencies at Everygame.
And then....when you're ready to jump on the crypto bandwagon be sure to take advantage of our new Crypto Promo - with a 200% match bonus up to $7777 AND 77 Free Spins! It's a sure win-win!
What are a Few of the Changes that Have Happened in Online Casino Gaming in the Last 29 Years?
This is a fun subject! Here are a few of the changes the online casino market has seen in its “long” 28-year history:
- From one online casino to thousands.
- From one game developer to hundreds.
- The innovation of ewallets that have replaced credit and debit cards for many.
- Instant Play which allows gamers to play directly on their internet server instead of needing to download the casino to their computer’s hard drive.
- Amazing advances in graphics and animation.
- The many ways the wild symbol in slots works owing to awesome animation.
- Advances in mobile technology which have made mobile the go-to way to play online casino games.
- 243 ways to win and growing.
- The huge influx of gamers to online casinos during the corona virus lockdowns.
- Bitcoin is becoming a popular banking method for deposits and withdrawals.
- Increasing popularity of online casino gaming as the genre continues to gain the confidence of gamers and as land-based casinos lost their luster both before corona and since the lockdowns ended.
Everygame Casino Looks to the Future
We see a bright future for online casino gaming. We see gamers having a lot of fun playing our over 300 games. We see gamers enjoying the freedom to travel from game to game at the click of a button. We see technology making massive advances in every aspect of online casino gaming, including in the area of banking.
We see bitcoin and other cryptocurrencies making continued inroads in the “traditional” banking methods.
We invite everyone to JOIN EVERYGAME CASINO NOW!
