Bitcoin online casino – Bitcoin is the world’s leading and most valued cryptocurrency, vastly popular among netizens and online gamblers, and on track to become legal tender in many countries globally.
The growing number of Bitcoin casinos and Bitcoin gambling is generally owed to unparalleled security, complete anonymity, and many other advantages. These benefits are so notable and real game-changers that many online gambling providers solely offer Bitcoin and other cryptos as available payment methods.
Stay tuned as we explore Bitcoin casinos and how gambling in general works when using this digital currency.
How Do Bitcoin Casinos Work?
Every casino that offers Bitcoin (BTC) as a banking method can be considered a Bitcoin casino. Usually, these gambling platforms accept Bitcoin and other cryptos, like Litecoin, Dogecoin, Ethereum, and others. Also, these sites are most likely to offer fiat currencies, so they can accommodate traditional players.
Bitcoin casinos allow customers to use the cryptocurrency for deposits and withdrawals and claim lucrative bonuses and promotions. The ease with which players make transactions makes this digital payment method so effective.
After registering an account, you need to head to the Banking section of your account, click on Bitcoin as the preferred deposit method and input the amount you wish to deposit. The casino will generate a random address to paste to your Bitcoin wallet and initiate the transaction.
Withdrawing money from a Bitcoin casino works similarly. However, this time, you need to type in your wallet address in the cashier section and the amount you wish to cash out.
Bitcoin casinos are home to hundreds if not thousands of different games you can play using Bitcoin. However, among those slots, blackjack, roulette, poker, and live dealer versions of these classic games, you can find the so-called provably fair games that are solely available in Bitcoin gambling platforms.
These games have special algorithms that allow players to verify an outcome, or better yet, how that outcome came to be and become sure of its fairness and randomness.
Advantages of Using Bitcoin Online Casino to Gamble
Gambling using Bitcoin comes with many great benefits. Some of these are:
Safe and Anonymous Transactions
Since Bitcoin resides on blockchain technology that is virtually impossible to penetrate and affect in any way, all your transactions are completely shielded off from the prying eyes of third parties.
Since the transaction between your Bitcoin wallet and the casino is completed, you don’t need to disclose any personal details to the operator. This gives a sense of complete anonymity when gambling that no other payment method can provide.
Instant and Low Fee Transactions
Bitcoin gambling sites process players’ deposits almost instantly since the confirmation time for each transaction on the blockchain is measured in minutes. Withdrawals are also processed in record times and usually reach your Bitcoin wallet in under 24 hours, much faster than most other payment methods.
Also, the fees pertaining to Bitcoin payments are quite low compared to those charged by credit/debit card providers and most e-wallets.
Playing with Bitcoin allows you to make substantial payments to and from the casino. There is virtually no cap on how much you can transfer to the casino unless the site itself doesn’t set one.
Bitcoin casinos are known for offering huge welcome BTC casino bonuses for new users and hefty promotions for the most loyal players. Deposit match bonuses, free spins, reload, and cashback deals are just some of the freebies you can expect to see in Bitcoin casinos.
Are Bitcoin Casinos Legal?
It is safe to say that Bitcoin belongs to the “gray” zone regarding regulations. Some nations across the world accept it as legal tender, while some don’t. Either way, Bitcoin remains a decentralized currency, meaning governments cannot control it or affect the transactions in any way.
Of course, the legality of gambling differs from country to country. In essence, wherever gambling is allowed, you can place your bets using Bitcoin.