Bitcash/BCC
Thousands of crytptocurrencies exist today. Bitcash, or BITC, is one of the numerous cryptocurrencies that are vying for your attention. It is available for online casino payments. But should you trust Bitcash to fund your gaming accounts? You can find out in this BITC review.
What Is Bitcash?
Bitcash is an attempt at blending the advantages of cryptocurrency (decentralization, privacy, speed) with the functionality of modern banking (account names, electronic statements, transaction records). Of course, many banking elements defeat the spirit of crypto. However, they're seen as necessary evils in a world where people are scared of sending their cryptocurrencies to the wrong address. The idea behind this coin involves promoting a decentralized crypto that can compete with fiat currencies, such as USD, GBP, and EUR.
Bitcash vs Bitcoin Cash
If you're familiar with cryptocurrency, then you may have heard of Bitcoin Cash-one of the world's most-popular virtual coins. Bitcash and Bitcoin Cash (BCH) both feature similar names. However, they work slightly different. Again, BITC is designed to combine both decentralization and banking elements. BCH, in contrast, is truly decentralized and operates as a Bitcoin clone. The only difference between Bitcoin and Bitcoin Cash is that the latter allows for larger block sizes-supposedly making it faster than Bitcoin.
How to Use Bitcash for Casino Payments
You must first obtain Bitcash from an account. Hopefully, you can find an exchange that accepts fiat (e.g. USD) and buy BITC directly. But you may only find an exchange that accepts cryptocurrency. In the latter case, you'll need to send Bitcoin, Ethereum, or another popular crypto with trading pairs to the exchange. In either case, you must get Bitcash so that you can use it at an online casino.
Once you have BITC, you obtain a wallet address from the relevant online casino. This address serves as the recipient for your deposit. You then choose to send Bitcash to the casino via your wallet or the exchange-depending upon where you store crypto. Once the funds arrive, you'll be all set to start gambling with BITC.
Pros of Bitcash
Bitcash offers many of the same advantages seen with other cryptocurrencies. It's decentralized and free of bank and government control. Therefore, you never need to worry about your Bitcash deposits being blocked by a third party. Second, this crypto features low fees on both deposits and withdrawals. Third, you should find using a Bitcash wallet to be rather easy after the first time or two. You may even prefer BITC over most other banking methods regarding ease of use.
Cons of Bitcash
The biggest problem with Bitcash is availability. This is one of the smaller coins and features very low visibility among the crypto community. Therefore, most exchanges that feature Bitcash are more-obscure trading sites. The second largest problem is that few online casinos accept BITC as a payment method. Even if you find a good exchange where you can buy Bitcash, you'll need to put in more work to locate a casino that accepts it.
Should You Use Bitcash at Online Casinos?
We don't see any major risk to using BITC at internet casinos at the moment. If you already have Bitcash, then it can be a good cryptocurrency for making deposits at gaming sites. On the other hand, we don't suggest you go out of your way to obtain BITC. Many online casinos already accept Bitcoin, Bitcoin Cash, and Ethereum. Why go to the trouble of using a less-popular cryptocurrency that merely does the same thing as the rest.
Regarding the latter statement, we've yet to see Bitcash stand out in comparison to the aforementioned cryptocurrencies. We don't yet notice a major difference in its ability to blend decentralization and traditional banking. Therefore, we only recommend Bitcash as a online casino payment method if you're already using it.