Even though bitcoin has been in play for a few years, there is a lot of misinformation regarding how it works, more so in gambling.
This piece will cover what bitcoin gambling is all about and the laws applicable to the same in Macedonia. We will also look into which sites you can rely on when using bitcoin as your currency when placing wagers.
Bitcoin has come a long way, and those who invested in it in the early days have reaped quite a lot in the years that have followed. Many people are now looking into investing in cryptocurrencies, having seen how first they can rise in value within a short time. They are also interested in the benefits of using such currencies, given that they are free from government regulations.
Online gaming operators have been some of the interested parties in using bitcoin as well as other cryptocurrencies.
This digital currency does not require physical items such as bills or coins, and is available digitally, making it easy to use in online platforms. Also, it is decentralized, such that users get to enjoy anonymity and transparency, unlike with Fiat currency.
You can use Bitcoin in various games, and many online casino operators have made this possible. For example, you can play poker from the comfort of your home and phone without divulging your personal information.
This kind of gambling comes with many advantages that you cannot get when using conventional modes of payment. Given the current state of online gambling in Macedonia and the possibility of the government having a monopoly over such gaming, privacy has become an important aspect.
Using bitcoins allows you to remain anonymous as you do not have to go through lengthy procedures when creating an account. Most sites that accept this currency do not ask for anything other than an email address or some other form of identification for your registration. You can get started on playing and enjoying your winnings almost immediately. Plus, it will be much harder for the government to track your movements when you’re not using Fiat currency.
There’s also the issue of speed in that you can make your deposits and withdrawals much faster than you would when using traditional payment options such as wire transfers and credit cards. You get to forgo the days you would have spent waiting for your money, and you can use it almost as soon as you win it. Also, there is the advantage of low transaction fees, which are even non-existent in some cases. Site operators are even likely to give you better odds and lower margins when you use this digital currency.
Additionally, you benefit from more promotions and added security. The fact that you can enjoy your earnings without paying taxes is the icing on this cake.
Of course, this kind of gambling comes with some disadvantages. These include uncertainty, volatility, the probability of getting hacked, and the need to remain tech-savvy. Once you learn how to navigate these problems, you end up making more out of your wins.
Process of Bitcoin gambling
Using bitcoin is as easy as following a few simple steps which come naturally after a few tries. The first involves getting some coin, in that you have to open a wallet and fund it.
The good news is that most online platforms allow you to use conventional means of payment to buy the coin. The next lies in finding a reliable gambling operator who is open to using coin and making a deposit on the site. Withdrawing should be just as easy.
The online gaming industry in Macedonia is quite complicated as the government works on monopolizing the industry. Authorities are not open to offering licenses to any online gaming companies that wish to operate in the country. Players have to rely on external sites to engage in any online wagering.
At present, there are no Macedonian laws that apply to bitcoin gambling. Players can make deposits in the following sites:
This site has a wonderful selection of live games and accepts players from almost any part of the world, including Macedonia. It offers a ton of bonuses to new and existing players. To make a deposit, all you do is create an account and add funds using the more than 150 payment options available.
This relatively new online casino works great for players who wish to use bitcoins, and also provides options for traditional payment methods. You can make deposits straight to the company wallet, and withdrawals take an average of two hours to complete.
This company came to be around 2017. It has grown in player numbers due to its flexibility in payment methods and variation in games.
Other than its amazing promotions, it also allows players to make secure deposits using various means. The deposits take place instantaneously, and withdrawals take twelve hours at most.