At present, Bitcoin casinos have taken the casino industry by storm where it is possible to make deposits as well as withdrawals using Bitcoins. This method of payment is extremely helpful for the players given that it is secure, instantaneous as well as autonomous.
Consequently, one does not need to spend a considerable amount of time fiddling with their bank accounts or even worrying about the safety of their transactions online. The following paragraphs deal with the topic: Why Bitcoin casinos for NZ players have become so popular at present.
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What exactly is Bitcoin?
The term “Bitcoin” actually refers to a decentralized cryptocurrency. As a matter of fact, it is not regulated by any bank or even the government. Moreover, Bitcoin does not entail the use of any coins or notes which can be used in online transactions. In fact, this system is actually utilized for securing transactions and also keeping your transactions independent.
Is it legitimate for the NZ players to make use of Bitcoins?
Even though the use of Bitcoin is legitimate in New Zealand, no online casino site is allowed to operate in the country. In fact, according to the Gambling Act 2003, all types of remote interactive gambling are considered to be illegal in NZ.
However, the law asserts that this particular prohibition on gambling will not apply to any individual gambling in the country in case it is conducted by an operator residing abroad.
Consequently, it implies that players in NZ will be able to gamble on any of the most trusted online casino sites which are located outside the country. As a result, it would be possible for the Kiwis to use offshore bitcoin casinos for nz sites without any problem at all.
Although the use of Bitcoin is not legitimate in NZ, it will be possible to purchase it from any trader for a specific price. Moreover, you will likewise come across a Bitcoin ATM bar in Dunedin as well as Auckland at present.
However, these have not become much popular right now given that the number of Bitcoin users is quite less out there. In fact, it takes time to build one’s faith in any currency that is new on the market.