Online casinos, being a part of the high-technology market, should keep up with continuous development in the industry. The biggest advantage of gambling platforms, distinguishing them form traditional casinos and giving its customers many privileges, is bitcoin deposit/withdrawal option.
This article will focus on bitcoin casino working principles, bonuses and promotions, and the cryptocurrency in general.
What is bitcoin?
Bitcoin is digital currency that is a rapidly evolving within the crypto-community. The currency provides its users with unique opportunity to transfer their funds anonymously. Moreover, bitcoin is not issued or controlled by any government or central bank, but generated through the process known as mining. In general, bitcoin mining requires a number of professional miners, who can solve certain mathematical algorithms on high-power computers.
Bitcoins can be stored in digital wallet and easily transferred from one account to another, as through PayPal system. However, this storage has its drawbacks – such wallets exist on hard-drive-based software and if it crashes, there is a risk of losing one’s wallet.
Every bitcoin wallet has address – a unique combination of letters and numbers – that is used upon the crypto-funds deposit. This code will not reveal user’s identity or wallet’s content, thus, allowing to stay absolutely anonymous while making payments.
The top-rated bitcoin casinos
Most of recognisable and well-established casinos deal only with traditional currencies, whereas bitcoin gambling platforms accept exclusively the cryptocurrency as the only payment method.
When it comes to selecting a suitable casino, gamblers find themselves in a difficult situation, since among decent gaming operators there can be found unscrupulous companies. Let’s look at the main advantages of playing bitcoin casino games.
Bitcoin casino promotions
Given that gambling is relatively new industry sector, competition there is pretty tense. Therefore, bitcoin casino operators put a lot of effort into attracting newcomers, offering special promotions, such as welcome and deposit bonuses, loyalty programs and free spins.
Reasons to choose bitcoin casino
Bitcoin is believed to be a perspective currency and its value is expected to increase considerably. That is why the cryptocurrency holders and gambling enthusiasts can benefit from its price growth in the future.
Its main benefit, attracting users all over the world, lies in its ability to provide anonymous and safe payments. Bitcoin wallet is the best and most secure solution for storing, sending and receiving funds. Moreover, bitcoin casino operators do not request linking gambler’s digital wallet to any bank account, credit or debit cards.
Bitcoin usage guide
Follow bitcoin price charts
Bitcoin is considered to be one of the most fluctuating currencies, so it is important to keep an eye on its value. When playing bitcoin at online gambling websites, gambler turns them into casino credits and further exchanges for cash. So, the rule is quite simple – sell it when the price reaches its peak.
Secure your wallet
Given that bitcoin wallet allows to deposit and withdraw large amounts of money, user should take precautionary measures to secure it. The greater opportunities the bigger risk. Therefore, digital wallet holders have to keep in mind that their money protection is their own responsibility.
Bonuses and Promotions
The crypto-casinos in comparison with traditional ones usually provide its clients with bigger and more attractive bonuses. Therefore, gambling enthusiasts should follow updates on casino website to benefit from special promotions.
Other payment options
The cryptocurrency is volatile, meaning its value is constantly changing. If upon the withdrawal request from online casino bitcoin’s price drops, client can wait until its value rises again or switch to another payment method. Prior to registering at any crypto-casino, newcomers should remember that not every gambling platform offers other payment options.
Keep an eye on its price
Dealing with bank account or online banking system user controls the exact amount of the deposited and withdrawn funds. In case of casino account holders, who exchange their bitcoins for credits, it is not easy to follow up the amount spent on gambling.
Therefore, to keep track of one’s budget it is always necessary to check the value of bitcoins converted to casino credits and further express it in any other traditional currency (dollar, euro).
Bitcoin casino games
Poker and Blackjack
The gambling industry offers a wide spectrum of different games, including, Blackjack and Poker that are the most popular ones. These games require professional skills, thus, experienced players have a great chance to win big money. Moreover, everyone can start gambling easily, since online casino operators do not ask for document verification.
Games of chance
Another way to get some profit gambling online are such games as Baccarat or Roulette. Every gambler has an amazing opportunity to receive some free cash, placing everything on one single bet. Usually bitcoin casino bonuses traditional services, making it possible for everyone to hit are larger than those offered by the jackpot.
Bitcoin casino deposit/withdrawal process
Even though bitcoin is easy to use in general, new players who have never dealt with this cryptocurrency can face some difficulties. To begin with, one has to register at casino and choose digital wallet, download it and receive unique bitcoin wallet ID.
There are several options to get some bitcoins – newcomers can buy them at exchange, in turn, more experienced users can mine them using powerful hardware.
Further process is not complicated at all – choose bitcoin payment method and transfer funds to the wallet ID. After receiving notification casino operator will be informed about user’s money transaction and funds will be automatically sent to player’s account.
Given that one bitcoin is hundreds of dollars worth, gambling with cryptomoney is not the same as playing with traditional currencies. Casino operators exchange received deposits to casino credits so that users can play on amounts of their own preference and not spend the whole bitcoin on a single bet.
Bitcoin casino FAQs
Is it allowed to use bitcoin in US?
The uniqueness of bitcoin lies in its global nature – it is available for users across the globe. Moreover this digital currency is not associated with any government, bank or country in particular.
When it comes to US-based players, it can be tricky to find gambling websites allowing them to play and at the same time accepting bitcoin payment method.
Are bitcoin transactions free of charge?
Upon bitcoin purchase from specialized exchanges, service operators can apply defined fee for the transfer. However, cryptocurrency casinos do not charge any additional money for deposit or withdrawal.
Which payment option is better?
Certainly, gamblers can choose the most suitable currency to play with, whether it will be bitcoin or traditional one. Given that crypto-payments are anonymous, secure, instant and easy to make, it can be great option for online casino enthusiasts.
As a matter of fact, users familiar with the cryptocurrency will most probably choose it among other payment options. However, at first glance newcomers it might find it quite complicated to use.
Benefits of using bitcoin
Bitcoin is considered to be currency with the prospect of price increase, that is why the investment in this digital money can pay off in near future.
The cryptocurrency can be referred as to the fastest payment method, since no traditional currency can offer such an instant transfer of funds.
If gambler wants to stay anonymous while playing at casino or just does not want anyone to find out of his casino activities, bitcoin is the number one choice. Moreover, the crypto-payments are the most secure and completely anonymous.
Disadvantages of using bitcoin
Complicated for newcomers
For those who has never dealt with bitcoin before or has not yet purchased it, at the beginning this process can be pretty difficult.
Experienced users consider bitcoin as easy and convenient payment method. However, to understand cryptocurrency price fluctuations and corresponding processes, one should follow the latest developments in this industry and global markets as well.
Even though bitcoin is believed to be great future investment, its price is quite volatile and one can never be sure whether he wins or loses on its value changes.
Safety of bitcoin casinos
The majority of online casino platforms are secure and fair, especially, given that they need to comply with particular countries regulations in order to operate legally. Before registering at any online casino user can always make sure whether gambling platform has certificate and applies the provably fair technology. Such information should be available on every respectable casino’s website.
Taking into account bitcoin’s volatile nature, it is impossible to predict its price movement. Nevertheless, one thing is clear – it is a revolutionary currency for gambling at online casinos.