David Williams | 23 Nov 2017
FortuneJack, the largest online Bitcoin casino in the world, has recently commented on the cryptocurrency’s booming popularity. The digital currency expert saw its market-cap grow by an astounding 1,034% between November 2016 and November this year, reaching a record-breaking value of $238.98 billion on coinmarketcap.com. This month has also seen Bitcoin reaching an all-time high against the US Dollar and the British Pound, with xe.com valuing one Bitcoin at $7,720.66 and £5889.18, respectively.
With this massive expansion in Bitcoin’s market share and value, as well as its international adoption by all manner of businesses, it comes as no surprise that more people than ever are looking to trade, spend and gambling with the currency. According to FortuneJack, there are numerous reasons why these individuals should pursue using Bitcoin too, including many uses that do not involve gambling at all.
In a recent article, FortuneJack highlighted many of Bitcoin’s biggest benefits in order to encourage potential buyers to get in on its recent success. First and foremost on this list was the cryptocurrency’s privacy and security, as Bitcoin works on both a public and private key system that makes transactions more secure and anonymous than traditional online credit card purchases.
The expert also noted that unlike fiat currencies, Bitcoin is not affected by inflation, and its totally digital form also allows for much faster deposits and withdrawals – not to mention minimal delay periods. According to FortuneJack, there are also many ways to earn Bitcoin, including mining, earning and even gambling, which in many ways makes it more versatile than traditional money.
Bitcoin is also extremely versatile when it comes to spending. The currency can currently be spent at online shops, physical retail stores, bars and restaurants, property agents, online gambling websites, bullion trading, online auctions and much more. Several Bitcoin payment cards like the Shift debit card have even been developed to help Bitcoin owners to spend their coins at over 38 million merchants around the world.
Considering all of this, it is easy to see why Bitcoin has had such a massive global impact. The Netherlands has been particularly quick to adopt the new currency, with its major city Arnhem being labelled the world’s ‘most Bitcoin-friendly region’ by a local group that operates arnhembitcoinstad.nl. Even the best Dutch department store accepts Bitcoin payments, and in Japan, massive retailers are also hopping on board the new trend.
As Bitcoin and its use becomes more widespread throughout the world, both its users and regular consumers are becoming more comfortable with the idea of using a digital currency to pay for everyday goods and services.
Plus, its two-key system adds unparalleled safety, leading experts to speculate as to whether cryptocurrencies may soon begin to take over from their fiat counterparts in the foreseeable future.