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Casino typesTop 10 Bitcoin Online Casinos
Gambling has grown a lot and now you can play online casino games with cryptocurrencies like Bitcoin, Ethereum, and Litecoin. These digital currencies make payments fast, safe, and private. Blockchain technology ensures that everything is transparent and secure. In this guide, we'll review Bitcoin casinos, which are online casinos that let you play games and bet with Bitcoin.
Online Bitcoin Casinos
Online Bitcoin casinos were the first type of crypto casinos to emerge. They trace back to 2012 when SatoshiDice was launched. It was a simple dice game that allowed players to place bets with bitcoin. The popularity of safe online payment methods saw the emergence of Bitcoin casinos in 2013. Bitcoin casinos are online gambling sites that accept bitcoin as their primary payment method. Bitcoin casinos employ blockchain technology to offer secure and transparent transactions. They allow players to play their best online casino games.
Today, online bitcoin casinos have grown in popularity, with most players attracted to their anonymous nature, security, and convenience.
Bitcoin Casino Deposits
If you are new to online bitcoin casinos, first, you will need a guide on how to fund your account. The best online crypto casinos allow players to remain anonymous. Before signing up for a cryptocurrency gambling platform, you must have a Bitcoin wallet. From there, you can purchase any amount of BTC using traditional payment methods such as MasterCard and Visa or e-wallets. Once you have BTC in your Bitcoin Wallet, you can use these steps to deposit in your online Bitcoin Casino account.
- From the Bitcoin casino homepage, go to the cashier page. It can appear as a wallet icon on the homepage.
- Choose the deposit option, then pick BTC as your preferred currency.
- You will be prompted to generate a unique Bitcoin address for deposit. It comprises 26-35 alphanumeric characters, which are randomly combined. You can copy the address.
- Proceed to your Bitcoin address and initiate a transfer to your copied address. You must enter the amount of bitcoin to send or its equivalent in fiat currency.
Once you approve the transaction, it will take a few minutes to see the BTC in your account. The Bitcoin network must confirm the transaction before being credited to your account. This process might differ from one Bitcoin casino to another.
How to withdraw Bitcoins at a Bitcoin casino?
Once you have BTC in your casino account, you can play various casino games and live dealers and pocket some great payouts. Every player is always excited to make a withdrawal after hitting a massive win or jackpot. For Bitcoin casinos, you can follow the steps below to withdraw your Bitcoins.
- From the casino homepage, click the Cashier icon. You will be redirected to the banking page. You will have a withdrawal option if you have met all wagering requirements and submitted the required KYC documents.
- Once you hit the “Withdraw” option, you will be prompted to choose Bitcoin or other payment methods, depending on the online casino. Select Bitcoin if there are multiple options.
- Get a unique Bitcoin address from your Bitcoin wallet and copy it. You must provide that specific address on your Bitcoin casino withdrawal page.
- Once everything is set, confirm the transaction. It will take a few minutes before secure transactions are confirmed in the Bitcoin network.
Advantages of Bitcoin Casinos
You might ask yourself why you should consider the best Bitcoin casinos over regular ones. They are well-known for the following advantages:
- Better Security: Although Bitcoin casinos have been treated as an innovation in the industry, they have proven to offer better security features. Cryptocurrencies are anonymous and decentralized. They provide a perfect alternative to traditional gambling platforms for players who want to play anonymously.
- Fewer fees – Since blockchain technology excludes the need for intermediaries. Players end up paying fewer gas fees and fast speed of transactions. However, players incur some fees in withdrawals and membership fees. To cover such fees, players enjoy decent bonuses and promotions with reasonable wagering requirements.
- Anonymity and Privacy: With different top online casinos still restricted in various countries, players rely on VPN services to play some of their favorite games. To address such challenges, Bitcoin casinos allow players to deposit, play, and withdraw their winnings with minimal paperwork. Blockchain technology is built on the tenets of anonymity.
- Transparency and Fairness – Bitcoin casinos offer provably fair games which players can verify for randomness in their outcomes. Since blockchain technology records all transactions on an immutable ledger, players can query any outcome of casino games.
Disadvantages of Bitcoin Casinos
Despite Bitcoin casinos gaining rapid popularity among players over the years, they have been linked to various disadvantages. They include:
- Volatility: Bitcoin casinos use BTC as their primary payment method. BTC is highly volatile and can rise or fall drastically, making it unreliable in the long run. However, some players take the risk of gambling using Bitcoin.
- Lack of Regulation: Unlike traditional currencies backed by gold reserves, Bitcoin remains unregulated. It increases the risk of fraud and scams. Without regulations, people can take advantage of unsuspecting players.
- Complexity: Being an innovation, Bitcoin is not easy to use. Some players might find it challenging to transact using Bitcoin. Players can quickly lose their funds if they make a mistake while entering the Bitcoin address.
How to Choose a Bitcoin Casino?
Since the launch of the first Bitcoin casino in 2013, the industry has recorded numerous new crypto casinos, with some aiming at scamming innocent players. You should always do due diligence on a new platform before signing up. Here are some factors to consider when choosing a Bitcoin gambling site.
- Licensing and Regulation: A reputable online casino must possess a valid gaming license from a well-established regulatory authority. The Bitcoin casino license should be visible on the homepage.
- Game selection and software providers: A genuine online gambling site with a wide range of Bitcoin casino games. The collection includes provably fair games powered by reputable software providers. Players can verify and audit the games for fairness.
- Payment Options: Pick a crypto online casino that supports some of the most secure payment methods. Ensure Bitcoin is one of the available deposit methods. The transaction limits and fees should be reasonable.
- Customer support and user experience: You should pick a Bitcoin casino with responsive customer support. It can be frustrating when you encounter a problem and the customer support team is unavailable. Players can rely on user reviews to determine a Bitcoin casino’s reputation. Positive reviews mean the user experience is good and players are in the right online casino.
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Nowadays, cryptocurrencies are used a lot more than fiat money for online casino transactions. And as crypto comes with tons of benefits, traditional currencies still have their pros.
Online casinos have completely changed the casino industry, as players may now enjoy their favorite games without ever having to leave the house. This shift may be attributed in large part to the growth of the internet and the recent boom of cryptocurrency.
Crypto payments are growing at a very fast rate over the past few years. They even entered the world of online gambling, so more and more betting lovers are relying on Bitcoin transactions.
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