In the short history of online casino gaming, one of the many areas that have evolved is banking. Online casinos such as Jackpot Capital serve as banks of a sort since gamers keep their money in their online casino account in order to be able to play again the next day or the day after or soon.
We would like to talk about Jackpot Capital as a bitcoin casino. We need to give some background first. Bitcoins are also called cryptocurrencies as we will see later in this article. So, Jackpot Capital is also known as an online casino with crypto as a banking option.
We will see that using crypto for online casino gaming is functionally no different than using dollars, euro, pounds, or any other currency.
Banking Online versus Land-based
Land-based casino players always take their money when they leave the casino after a day or a weekend there since they don’t know when they will return to that casino, if ever.
Online casino gamers feel confident leaving their money in the casino “bank” so there will be money there when they want to play again in the day or days to come. It is this confidence−or the nurturing of this confidence on the part of Jackpot Capital and most online casinos− that has fueled the evolution of online casino banking all for the convenience, comfort, and safety of online casino gamers.
What Gives Gamers the Confidence to Deposit Money and Leave it in an Online Casino Account?
There are two answers to that question!
The first is encryption.
Without encryption, no casino gamer would deposit any money nor would anyone keep their money in an online casino account! Online casino gaming would shut down!
What is Encryption?
Encryption is the function of the software that scrambles all information kept online so that no one can access or read that information. Given how much information is stored online, we can imagine just how important encryption is to our modern way of life!
Encryption is a massive cottage industry all unto itself!
All forms of internet commerce would cease to exist without encryption software and if the best encryption software in use today were to be hacked, all online trade would stop until the problem was fixed!
Making Online Casino Banking Easy
The second is ease of banking. That includes having many different ways to deposit and withdraw money to and from the casino.
Many gamers want an extra layer of anonymity when they play at an online casino. The classic credit or debit card way of making a deposit does not afford the privacy many gamers want. Direct bank transfers offer even less privacy.
The first step towards more privacy for online casino banking came with the advent of ewallets. Where at one time there was only one ewallet, today there are many. Banking through an ewallet is more private than going through a regular bank or a credit card.
And now we have arrived at the bitcoin revolution in all financial aspects including online casino banking.
What is Bitcoin?
Here we have to backtrack a bit again.
Until the late 20th century, government money was “backed” by either gold or silver. This was true for hundreds of years. Government money as paper money came into being as “representative” of a set amount of gold or silver.
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Why was that Necessary?
In the past, many coins were minted entirely of gold or silver but those metals are quite heavy and when transactions went into higher numbers−think of a thousand dollars as a higher number which it was at one time−it became clear that a way to represent a thousand dollars in a less weighty form was needed.
Paper money was the solution. From paper money, banking itself evolved so people could write a check for a thousand dollars or a million dollars and use the check AS IF it were actual money.
Thus, paper money, checks, money orders and the like came to be accepted as money although they merely represented the actual money which was held safely in the banks.
People Started to Lose Confidence in Paper Money
This loss of confidence was a long time coming as most people are leery of suddenly stopping to accept government money as real money. However, governments overprinted and overspent their money. This led in many countries to what is known as hyperinflation where a formerly sound unit of exchange became virtually empty of value.
Cryptocurrency Becomes Mainstream
Cryptocurrencies are alternative currencies to the governments’ money. The prefix crypto comes from the word encryption since bitcoin−as a currency that exists entirely online−and all other alternative currencies need encryption software to prevent hackers from accessing people’s crypto accounts.
Some people think that the prefix crypto means that cryptocurrencies are pseudo-currencies. That is not the case.
Bitcoin is No Longer Alone in the Cryptocurrency World
Bitcoin was the first cryptocurrency and now there are a few dozen such currencies. Crypto has truly gone mainstream. The term bitcoin is sometimes used as a generic term referring to cryptocurrencies generally.
For online casino gaming purposes, bitcoin is generally no different than using any other currency for deposits and withdrawals. There is a certain difference, however. There are a small number of national currencies that are truly international. The dollar, the euro, and the pound are three such international currencies.
At Jackpot Capital and all other online casinos, gamers can deposit or withdraw in just a few currencies. Bitcoin, on the other hand, is recognized internationally. So, a gamer can use Bitcoin - or Bitcoin Cash, or Litecoin - as a casino banking currency from any country in the world.
Why Play Casino Games Online?
Many gamers are confused as to how bitcoins “work”. There are terms used in the Bitcoin world that are not everyday words for most people or are used in odd contexts.
For example, bitcoins are digital money but they are said to be “mined” where mining for thousands of years has been a very difficult physical activity!
Bitcoins are stored in a blockchain which is a term that almost no one had ever heard of before it was used in the context of bitcoins.
So, even though bitcoins are another banking method for online casino gaming, many people are confused, even frightened, by it and ask why they would play online casino games when it is so much more “normal” to get chips or credits at a land-based casino!
Online Gaming Has Many Plusses in its Favor
Bitcoin is just one banking method. It is NOT necessary to use Bitcoin to play casino games online. Bitcoins are simply an alternative currency and if a gamer is fully confident in the “traditional” currencies, he or she need not concern themselves with the minutiae of bitcoins!
There are many reasons to play casino games at Jackpot Capital and other online casinos. We offer over 300 games that gamers can access at their convenience. We offer great deposit bonuses. We offer unlimited free play so gamers can learn how to play a game without risking any money.
We have a large library of articles that help gamers get the most fun out of online casino gaming. Our return-to-player rates are higher than the rates that you can obtain at land-based casinos since land-based casinos have overwhelming operating costs that Jackpot Capital does not have.
We offer excellent mobile casino gaming. Our mobile platform is so good that it is the go-to platform for most gaming here at Jackpot Capital. Al-in-all, gaming at Jackpot Capital checks all the boxes of comfort, convenience, flexibility, safety, and fun.
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