Bitcoin at online casinos: subtleties of playing for cryptocurrency
When playing online casino games, some gamblers do not want to share their financial data and make deposits using their bank accounts. Cryptocurrencies help making casino games more secure and anonymous.
Let us find out what subtleties online Bitcoin gambling has and how to play for a cryptocurrency.
Advantages of Bitcoin gambling
Playing for digital money is popular among gamblers thanks to the features of the blockchain technology that backs up cryptocurrencies.
As Bitcoin is not regulated by a central bank, tracking payment transactions is impossible. Moreover, all transactions are conducted through a crypto wallet that is not tied to the owner’s name.
Bitcoin-based games use special cryptographic algorithms that help to verify outcomes of reel spins. This allows players to feel secure that the casino does not violate game rules and pays out winnings in a fair way.
Lack of fees and fast withdrawals
As cryptocurrencies rely on P2P technologies, all transactions are carried out directly without intermediaries. As a result, players do not pay transaction fees when they make deposits or withdraw winnings.
Moreover, transactions are processed instantly and players do not have to wait for withdrawals for several days.
Disadvantages of Bitcoin casinos
Despite a wide range of opportunities that cryptocurrencies open to gamblers, it is important to take into account that Bitcoin casinos pose a number of risks.
For example, players should be aware of fraudulent sites: not all Bitcoin casinos hold gambling licenses. Experienced gamblers recommend avoiding dubious gambling sites and play at online casinos that have stayed in the market for long, acquired a gambling license, and proven their reliability.
Besides, it is necessary to remember about the cryptocurrency volatility. Players have to understand that cryptocurrency price can often change and correspondingly their winning amounts can decrease.
How to make a deposit in Bitcoin?
To make a deposit at an online casino using Bitcoin, the player has to set up a cryptocurrency wallet and refill it. Having a wallet with digital money, the player has to:
- go to the online casino cashier;
- select Bitcoin currency;
- copy the casino’s Bitcoin address;
- go to the menu of your Bitcoin wallet;
- specify the required sum and casino address in the Send funds section;
- confirm the transaction.
As a rule, deposits are processes within several minutes and afterwards the gambler can start playing straightaway.
Trustworthy Bitcoin casinos
The casino has been functioning since 2014; it offers around 300 games. Deposits can be made in BTC, LTC, DOGE, and DASH.
This gambling site offers such advantages as high-quality slot machines from different providers and a great variety of promotional offers.
mBit Casino has been operating since 2014; it offers live games, blackjack, jackpots, lotteries, and sports betting.
The platform does not collect personal data from players and holds a gambling license.
1xBit Casino has been open for players since 2011 and owns Curacao gambling license.
The main advantage of this casino is a great choice of offerings for gamblers including 3D slots and live games.