You have probably tried your luck at Bitcoin Casinos. Have you considered playing at Bitcoin Cash Casinos? With the value of Bitcoin shooting through the roof – it hit $5,000 recently – it is worth looking at other options.
Now, there aren’t too many Bitcoin Cash Casinos out there as yet, as Bitcoin Cash is still very new. But we will be sure to update this website with a list of the best Bitcoin Cash Casinos in the near future. Read on!
What is Bitcoin Cash?
The problem with Bitcoins was that they were becoming unaffordable for most people. Another issue was that the digital transactions involving Bitcoins were becoming slower and slower. A strong need was felt for something that was more affordable and much faster and more responsive.
Bitcoin (BTC) was split into two on August 1st, 2017. A new, separate blockchain was created, called as Bitcoin Cash. Bitcoin Cash is a Bitcoin clone that works in the same manner as Bitcoin. If you are a Bitcoin owner, or were one during the split, you will have received some Bitcoin Cash in your wallet.
If you own Bitcoin Cash at the moment, you should pat yourself on the back, as this cryptocurrency is literally flying. It is currently worth $332.40 and has a market capitalization of $5.5 billion.
Why Consider Bitcoin Cash Casinos?
There are many reasons why Bitcoin Cash Casinos sound like an attractive prospect, and certainly a better alternative to Bitcoins. To begin with, Bitcoin transactions are not cheap as there is a 1MB limit on the blocks. You need to pay a high fee to have your Bitcoin transaction processed quickly. Another issue is that off-chain payment hubs involving Bitcoins have many flaws and do not work in a decentralized manner.
In comparison, Bitcoin Cash transactions carry very low fees and they are much faster on the blockchain. With Bitcoin Cash, you can now deposit your coins easily on the online casino platform and there is no need to pay the high fees related to the transaction.
While there aren’t too many online casinos that have taken on Bitcoin Cash as yet, we expect this to change soon.
Advantages of Bitcoin Cash Casinos
Bitcoin Cash allows more transactions to occur on the blockchain. This has none of the drawbacks of Bitcoins such as the congested blockchain which allows just 1 MB of transactions every 10 minutes. Bitcoin Cash transactions are much faster, which makes it easier to use for online gamblers. You can deposit money in online casinos or withdraw your winnings in Bitcoin Cash much faster.
Bitcoin Cash has a much larger blocksize of 8 MB, compared to Bitcoin’s blocksize of just 2 MB. While Bitcoin is still very much the cryptocurrency of choice in online casinos, we expect the picture to change in the near future. Bitcoin Cash will certainly play more of a role.
Is Bitcoin Cash the Answer that the Online Casino Industry is Looking For?
While Bitcoin Cash certainly has a lot of potential, one would hasten to say that there are better cryptocurrencies out there for online casinos, and no, we are not talking about Bitcoins. Cryptocurrencies such as Ethereum offer a more intelligent solution with a smart contract system for making deposits or receiving payments.
They make it possible for transactions to proceed at a lightning speed. While Bitcoin Cash will certainly find many takers in the near term, in the long term, other digital currencies such as Ethereum will prove to be more popular. But we expect there to be a number of Bitcoin Cash casinos as the demand for this cryptocurrency is only shooting up.
Bitcoin Cash is new, but it is certainly catching on fast. All online casinos covered or listed by us are properly vetted and reviewed. You must make it a point check out our list of Bitcoin Cash Casinos, which we will be sure to update regularly.