It’s been nearly a decade since Satoshi Nakamoto mined the genesis block thus introducing the world to Bitcoin (BTC). The basic idea behind Bitcoin was to provide a type of electronic cash that is decentralized and could be transferred between users on a peer-to-peer network.  Although this cryptocurrency was met with skepticism, Bitcoin gradually gained a foothold and has gone on to become arguably the most popular cryptocurrency in the world that has reached the heights of $20,000 in value during December 2017.

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Bitcoin has its fair share of flaws and has received strong criticism from global financial experts and investment analysts over the years. A set of developers decided to create a new cryptocurrency that would in many ways be an improved version of Bitcoin. The new cryptocurrency was launched on August 1, 2017 and was labeled Bitcoin Cash (BCH).

What is Bitcoin Cash?

In simple terms, Bitcoin Cash is a cryptocurrency which can be defined as a digital and decentralized currency. It is essentially a Bitcoin spin-off and could also be thought of as an updated version of Bitcoin.  However, Bitcoin Cash is an independent cryptocurrency.  Since its inception, Bitcoin Cash has become the world’s second-most valuable cryptocurrency and is quickly gaining acceptance as a regular method of payment. 

Why Was Bitcoin Cash Created?

One of the biggest problems that still Bitcoin faces is that it is limited in the number of transactions that can be performed. Without getting too technical, the size of a block of transactions is 1 MB and that means only a few transactions can be completed every second. To put it into perspective, Visa can process over 24,000 transactions per second whereas Bitcoin achieves about 4. This causes Bitcoin transactions to sometimes be delayed and limits the number of transactions that can be processed.  In short, more Bitcoin users equates to more Bitcoin transactions which lead to delays in BTC transactions being processed.  In fact, some Bitcoin users reported processing delays of up to 4 days in mid-2017 when Bitcoin was experiencing a massive spike in value.

To add to this problem, users began to face higher transaction fees and the Bitcoin community saw a need for some changes. After much debate, developers opted to go with what is referred to as a hard fork which resulted in the Bitcoin blockchain and cryptocurrency being split in two resulting in the creation of Bitcoin Cash.

The online gambling community was quick to realize the advantages of using cryptocurrencies as a mode of payment and today there are a quite a few online casinos accepting Bitcoin cash.

Where to Use Bitcoin Cash for Online Gambling

There are a significant number of online casinos accepting Bitcoin because the cryptocurrency has been around for a longer period of time and has a wider user base. Online casinos that accept Bitcoin Cash as a mode of payment are slowly starting to increase as crypto users tend to switch from the volatility of Bitcoin to a safer bet in Bitcoin cash.   

There are a growing number of licensed and regulated online casinos and sports betting sites that have started accepting Bitcoin cash.

Sports Betting: CloudBet is one of those gambling sites that accepts BCH for its sports betting product. CloudBet has an extensive live sports section where punters can choose from a plethora of in-game wagers.  Asian handicap, team totals, and winning margins are just a few examples of the live bet types that are available. 

Online Casino Games: If you are a Bitcoin Cash user who enjoys the thrill of casino gaming then you will want to check out Bitcoin Casino where they have a wide range of Bitcoin Cash casino games. There are loads of exciting slot games, a vast array of card games, and plenty of table games.  Bitcoin Casino also offers high-limit games and jackpots games so you can go for the big win.

Live Casino: Live casino gaming is quite popular and Betcoin offers Bitcoin Cash players plenty of live gaming options. These live casino games allow online players to interact with a live dealer and other players via a live stream and have an experience similar to playing at a brick and mortar casino.

Casino Hold ‘em, Blackjack, Baccarat, Roulette, and Caribbean Stud are a few of the live casino games that Bitcoin Cash players can easily take part in.  Betcoin live casino lets you enjoy a true casino experience from your desktop or mobile device.

There are also several Bitcoin Cash friendly sites such as Bovada, Ignition Casino, and America’s Cardroom that offer online poker. Most of these Bitcoin Cash friendly gaming sites give their players special bonuses and promotions if they use Bitcoin Cash as their mode of payment. The above mentioned Bitcoin Cash gambling sites accept US based players.

How to Get Bitcoin Cash

There are a couple of different ways to purchase Bitcoin Cash.  One of the most common ways is to go to an online exchange like Kraken or Coinbase. Simply sign up for an account connect your bank account, debit card or credit card and then buy your BCH.  These exchanges keep your Bitcoin Cash in a secure wallet and you can rest assured that your funds are safe since you are using a reputed and trustworthy company. bitcoin cash

You should understand that a wallet is comprised of two sets of numbers and letters.  One is an address that others use to send you Bitcoin Cash and the other is a key that lets users access their Bitcoin Cash.  Some people don’t like that these exchanges are in possession of their private keys and have concerns over the security of these wallets. To make their Bitcoin Cash more secure, many Bitcoin Cash users will get a digital wallet such as Jaxx, Breadwallet or Edge.   

Advantages Using Bitcoin Cash for Online Gambling

One of the main advantages of using Bitcoin Cash to play at online gambling sites is that it is free of government oversight which means that you are always in control of your funds. The majority of online players prefer to keep their identity anonymous and do not want to divulge their personal or financial details to an online casino. Bitcoin Cash transactions allow online players to keep their anonymity. 

The other major advantage of using Bitcoin Cash at an online gambling site is that BCH is counted among the most secure cryptocurrencies in the world, provided you store it safely.  In other words, don’t store it in an online wallet. General feedback suggests that Bitcoin Cash transactions are also processed faster than Bitcoin transitions. Bitcoin Cash users are also happy about the significantly lower processing fees and feel comfortable using their BCH to gamble at reputed gaming websites. 

So if you are an online gambler who prefers to use cryptocurrencies to play, then it is a safe bet to use Bitcoin Cash as BCH has proven to be more reliable than BTC in recent times and should not have any trouble finding a reputed online casino or sports book that accepts Bitcoin Cash.