Loading ...More Arab Americans Go for Bitcoin
After immigrating to the US, people from Arab countries, now known as Arab Americans, managed to maintain their culture up to a large degree. However, they couldn’t avoid Western civilization’s influence and eventually adopted other customs and habits.
It has always been common in the Arabic world to use real money or precious metals like gold for trade and different kinds of payments. On the other hand, the US has become home to cryptocurrencies — a decentralized digital currency designed to replace fiat currencies and make payments easier.
Buried with digital currency news, Arab Americans decided to try cryptocurrencies, among many other things. It turned out that they found the crypto world interesting, as more and more Arab Americans today use cryptocurrencies for various transactions.
Bitcoin Is Still Number One Among Arab Americans
Although it took Arab Americans some time to accept cryptocurrencies as a regular payment option, they are now gladly buying the coins via international cryptocurrency exchanges. While bitcoin was the pioneer in the crypto realm, a plethora of other cryptocurrencies have emerged in the meantime.
Still, Arab Americans keep investing in bitcoin, probably because it is the cryptocurrency they are most familiar with. Bitcoin is the first cryptocurrency the world has heard of, which is probably the reason people still trust it more than some new cryptocurrencies.
Arab Americans find bitcoin pretty useful for all the transactions they make from the US to Arabic countries. Among all the benefits, bitcoin makes transactions hassle-free, unlike fiat currencies that have to be converted or gold bars that need to be physically transported and well kept from prying eyes.
Aside from transactions among the families separated by thousands of kilometers, Arab Americans use bitcoin for many business deals and transactions. As they usually work with vast amounts of money, it’s more convenient for them to complete business transactions using bitcoin than sending and receiving that same amount of money in fiat currencies.
The Use of Bitcoin Casinos Rises
Since the moment they discovered bitcoin, Arab Americans started using it for many different purposes. Among the most frequent ones is the use of this cryptocurrency for playing games in bitcoin online casinos.
The reason for this primarily is convenience, as transferring money to an online casino can be a real pain in the neck, depending on the payment method you use. With cryptocurrencies, it goes much easier because there is no bank directly involved in the process.
Another good reason to use bitcoin when playing online casino games is that you will completely avoid conversion processes that often cost you a lot of money. The only thing players need to pay attention to is the minimum deposit and withdrawal limit, but this should be done regardless of the payment option used.
Yet, the ultimate benefit of bitcoin casinos for Arab American players is geolocation. The majority of US states have stringent laws concerning online gambling. While they do not necessarily prosecute players, they have a ban on money transactions to and from casinos.
By using cryptocurrencies for online gambling, Arab Americans totally avoid banks, like we already mentioned in the text above. Since cryptocurrency transactions leave no trace, players can use them to hide their online gambling activities.
Will Arab Americans Switch to Another Cryptocurrency?
At the moment, bitcoin remains the number one choice among Arab Americans. However, other cryptocurrencies have become known to the public as even more functional than bitcoin. Ultimately, it is highly likely that Arab Americans will decide to try something new, just like they switched to bitcoin from the conventional payment methods. Until this happens, Arab Americans will stay true fans of bitcoin.
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