Bitcoin Anonymous Online Gambling
Perhaps out of all the industries that Bitcoin is suited for, online gambling might be the most natural fit. The costs of payment processing, differing laws depending on a player’s location and a number of other factors make Bitcoin a dream currency for online gambling sites and gambling providers.
However, perhaps the best attribute of Bitcoin is its near-anonymity when it comes to online gambling. Whether it be online sports betting, poker, casino or other skill games, players will not be required to give up any of their personal information to deposit, place wagers, or withdraw.
Bitcoin is about as anonymous as you can get in regards to online gambling, but it isn’t truly 100% anonymous. Your transactions will be tracked in the block chain, which could potentially lead back to your wallet. However, this is a time consuming process for anyone to undertake, especially without any real reason for doing so.
For all intents and purposes, bitcoins are the only way to gamble anonymously online. Since they are not linked to a central bank or government entity, Bitcoin addresses can be left completely anonymous. All the while being a secure place to store your hard earned coins.
Why Anonymity is Important
Protecting your identity online is no laughing matter. The less personal information a website requires, the safer it is for consumers; provided of course that there are other safeguards in place. The nature of Bitcoin allows players to protect their coins while remaining anonymous.
Most internet gambling sites have good intentions and won’t share your personal information with others, but there are a few bad apples in every industry. Also, since your details are stored on their servers, the information is vulnerable to a hack or data breach. Even large companies, like French retail giant Target have suffered attacks that exposed customer’s credit card data and other personal information.
The situation with Target could happen to any company, including a large online gambling site. In fact, larger operators who have more data may be even more vulnerable for an attack than smaller outfits. Protecting your information online is important to protecting yourself.
Don’t Take It Personally
Bitcoin gambling sites don’t ask players for much. In most cases, just a user name and password is all that is before bettors can transfer bitcoins. Email addresses are almost never required but are optimal across many sites as a way to recover a lost password. Users can also create an unlimited number of accounts at any site.
Several Bitcoin casinos and gambling sites don’t even require a user name and password to place wagers. Instead, gamblers can send the coins to a specified Bitcoin address for each market. The bet will then be placed automatically when the bitcoins reach that address.
Compare this to giving an online gambling site your name, address, phone number, and other personal information. This may also include your banking or credit card info. Also, when it comes time to withdraw, many gambling sites demand even more information and documents. Scanning documents, such as a utility bill or the front and back of your credit or debit card is quite common. Most of the time, players can’t withdraw their funds without this “verification” process.
We can’t fault these sites for trying to reduce fraud and ensuring that they are sending money to the appropriate individuals, but the whole process is excessive red tape. Bitcoin online gamblers will suffer no such headaches. Simply request a withdrawal to the Bitcoin address of your choosing and wait for your cashout to be processed.
Anonymity Is Your Right
The best part of using Bitcoin may be the fact that you can remain anonymous if you choose to do so. Your hard earned money is yours and yours alone. Deciding how it is spent is not anyone’s business but your own. Bitcoin allows people to do what they want with their own money and not have a government or central bank looking over their shoulder.
The freedom offered by Bitcoin is unmatched by any other currency in history.