Update on the Value of Bitcoin
Scott Morris | April 10, 2015
I love Bitcoin. I’m an advocate of using cryptocurrency to fund online gambling sites because I think they’re safe and convenient. Sometimes I would rather use Bitcoins instead of my credit card. However, there has been some discussion recently about the allegedly declining value of Bitcoins. I did some research to find out the truth and am going to share with you some important updated information about the coin’s value. This is something all sports bettors should pay close attention to.
It’s important to know the value and trends of Bitcoins before purchasing these virtual coins. If the value of the coin drops following purchase, you lose money. So you could conceivably win on a sportsbook that accepts Bitcoins, but actually lose money. Pay close attention to the trending values of the coin before making a purchase and using them to fund an online sportsbook.
Bitcoins are trending back upwards…
According to this recent Bitcoin article, the value of Bitcoins are trending back upward, and that’s a good thing for online gamblers. The value of Bitcoins are maintaining a stable presence, which is a positive because they were recently said to have been trending downward. We are also encouraged by this other recent article that indicates owners of Bitcoins can breathe easy.
The current value of a Bitcoin is $257, and it would be disastrous if the value dipped below $250 for an extended period, or for good. But the good news is many experts are confident the value will eventually exceed $300. That makes for a good investment opportunity right now. They do expect the value to soon hit a rough patch, but that’s okay because the value is expected to eventually hit record highs (above $300).
Leading US merchants considering accepting bitcoin as payment?
Alasdair Rambaud, senior VP of CardinalCommerce, a leading payment solutions provider, recently said he believes merchants in the US are considering accepting bitcoin as payment. If that happens, the value of a bitcoin should rise significantly. Rambaud, a bitcoin user, is so encouraged with recent news that his company decided to partner with bitcoin processor, Bitnet.
What this means for online gamblers
If you’re considering using a Bitcoin online gambling site, you should feel safe knowing the value of your money likely won’t take any major hits, and will probably be increasing in value over the coming years. Once leading merchants begin accepting bitcoin as payment, the top online casinos – including sportsbooks – should follow suit.
Bitcoins will never replace credit cards in terms of most popular ways to fund an online sportsbook. But it’s conceivable to think millions of online gamblers worldwide will start using bitcoins as payment over the next couple of years. The benefit of using bitcoins to fund an online gambling account is, if that site accepts bitcoins, you will know the payment will go through. Unfortunately, credit cards (Visa and MasterCard) don’t provide that guarantee, regardless of where you live. So if bitcoins become more prevalent in the world of online gambling, it will be advantageous to the gamblers.
Sportsbook that accepts Bitcoin is BetOnline.ag (SBA Rating A+)
