I think, crypto gambling has a lot of disadvantages and this must be stopped. let me show you some disadvantages of Bitcoin gambling:
Bitcoin is volatile. Its price bounces up and down every day namely because of the limited number of Bitcoins in circulation and an increasing demand for them. Just this April, the cryptocurrency peaked at $64,000 per Bitcoin. It had previously peaked at roughly $20,000 at the end of 2017. Though eventually its price settles, it is not recommended to keep significant savings in Bitcoin unless you plan to HODL.
It is a work in progress. Though it has been around for years, the Bitcoin network is always undergoing changes. As Bitcoin usage grows, it becomes more accessible and its features and usage practices more polished. Though with such high uptake, the Bitcoin network, which was not originally built to process the current number of transactions, has encountered scalability issues. Despite this, casino and sports betting players using crypto do not have to wait long for their deposits to clear owing to CoinsPaid’s integrated features.
Not a “household” payment method. While holding a 78.5% iGaming market penetration rate according to SOFTSWISS COO, Andrey Starovoitov, Bitcoin is not always available as a go-to payment method. This said, worldwide Bitcoin adoption is constantly growing, especially across modern casinos and betting brands.
It is untraceable. Bitcoin’s anonymity, viewed by many as an advantage, on the flipside is often associated with criminal activity in the sense that it is easier to get away with fraud. To minimise risks, SOFTSWISS products come with a number of built-in monitoring tools that help to flag suspicious or fraudulent activity.