Online casinos and cryptocurrencies have been around for over ten years, but only in recent years have they combined and become very popular among gamblers. Bitcoin is the most popular and expensive cryptocurrency globally and is trusted by many industries worldwide. Cryptocurrencies and online casinos are the perfect pair in many ways, and Bitcoin has taken this pairing further by developing Bitcoin Casinos. So we will take a look at what these casinos are and how they work.
What Are Bitcoin Casinos, And How Do They Work?
Bitcoin casinos exclusively use cryptocurrencies for deposits and withdrawals, so players must have active crypto wallets to play at bitcoin casinos. The use of crypto provides players with complete anonymity and control of their accounts. Most Bitcoin casinos have the same features and terms as traditional online casinos regarding wager requirements, bonus payouts and minimum amounts in deposits and withdrawals. There are a few key differences, though:
- No KYC verification is required for most casinos
- Unlimited free daily transactions
- Instant payout
Poker And Other Games Available At Bitcoin Casinos
Gamblers have a variety of games to choose from on most bitcoin casinos, along with some outstanding welcome bonuses. Bitcoin poker is the same as the usual poker you would play at a traditional online casino. We suggest you first learn how to play 3 card poker before playing bitcoin poker, as most casinos do not have a demo mode for you to practise. Seven-card stud poker, five card draw poker, Texas Hold-Em, and other variations are available on bitcoin casinos.
BTC slots, roulette and live games are available to entertain you and give you multiple chances of winning on bitcoin casinos. Some sites even boast an extensive sportsbook which is great for punters. An essential factor to consider when playing on bitcoin is that prices are very volatile, so always check the most current exchange rate when placing wagers and making deposits. As with all gambling, forms play responsibly and only bet with crypto you are willing to lose.
Where You Can Find Bitcoin Casinos And Some Of The Best
Finding a bitcoin casino is as simple as a google search, but not all bitcoin casinos out there will give you what they promise. So before settling on the casino, check if they have good customer service. The last thing you need is a casino with a 14-day turnaround time. Make sure they support all the major cryptocurrencies, and the site should be compatible with a mobile device. Some of the best Bitcoin Casinos based on player experience include:
- Bitstarz
- Wild Casino
- Cloudbet mBitCasino
- Ignition
- Bovada
Benefits Of Bitcoin Casinos
Using Bitcoin casinos has benefits for both the players and the casino operators. Here are some of those benefits.
For Players:
- Anonymity
When playing at a bitcoin casino, you do not share your data with the casino or any other third -party; this minimises the risk of any fraudulent activities. When playing at traditional online casinos and you use credit/debit cards or bank transfers as payment methods, these transactions are recorded and show up on your credit profile. This could negatively affect your future job application or asset acquisition.
- Fast Payments
Crypto transactions are processed almost instantaneously; in most cases, they are concluded within minutes. An added convenience is that you can access your crypto wallet anywhere in the world.
- Exceptional Security
Crypto casinos offer enhanced casino services through blockchain technology which is virtually impossible to hack, assuring players that their winnings are safe from scammers.
- Cost-effective
- Compared to traditional payment methods, cryptocurrency is less costly as transactions on crypto do not attract additional bank fees. The lack of an intermediary when transacting means there is no chance of experiencing hidden costs.
- Global Acceptance
No laws regulate or prohibit cryptocurrencies worldwide, and since everything is decentralised, no authority can track or freeze your crypto winnings.
For Casino Operators
- The use of blockchain technology in crypto casinos forces operators to be transparent and authentic, which makes the industry more credible and more likely to attract more players.
- You can top up funds using platforms like CoinsPaid to ensure sufficient funds to pay punters.
- When launching a bitcoin casino, there is less red tape involved, and launch times are faster.
Decentralised At Last!
Always do your research before playing at any online casino; one of the best ways to do this is to check the online reviews. You can also be members of specific platforms and forums such as Quora or check reliable casino/crypto blogs available online. It’s clear cryptocurrencies are here to stay. Some countries have already accepted its legal tender, and some retailers and service providers accept Bitcoin as a payment option.
We look forward to seeing which other successful partnerships will develop with crypto.