Unless you’ve been living under a rock, you probably know what Bitcoin is. Cryptocurrency has completely reinvented the way we look at transactions.
Even though it’s still taboo for many countries, the market is generally more open to Bitcoin Casino now than it was in the past. This signals that the times are changing, and if the trend continues, we’re looking at the possibility of it replacing common currencies in the future.
How To Gamble at a Bitcoin Casino?
Online casinos accept a large number of e-wallets. You can use Skrill, Neteller, and other methods aside from standard debit and credit cards to deposit and withdraw money. You can also use Bitcoins if you own them, as a large number of Bitcoin casinos have recently flooded the market.
Gambling with Bitcoins is a simple affair – you just need a web wallet that accepts cryptocurrencies. It’s not illegal like some people think. In fact, the blockchain stores all the transactions made between two Bitcoin parties. However, unlike credit card records, it won’t disclose any other data except for the amount transferred.
To get started, you’ll need a cryptocurrency web wallet. Get one for free and store your Bitcoins and you’ll be on your way to new gambling adventures.
Why Gamble With Bitcoin?
The biggest question regarding Bitcoin casinos is why to use the cryptocurrency instead of other payment methods. It’s easy – a Bitcoin casino will allow you to gamble without the need to pay additional fees. Payment delays are impossible with Bitcoin, so you’ll get your winnings as soon as your request is approved. Some people use it for the privacy alone.
Although the blockchain stores your transactions, it won’t publish any personal data. Anonymity is probably the biggest reason why many players will choose Bitcoin over other methods.
When choosing a Bitcoin online casino, it’s good to pay attention to the withdrawals. Some Bitcoin casinos allow deposits and withdrawals in Bitcoins, while others will instantly convert it to USD. We suggest going for the first option as you don’t have to worry about transaction fees. Checking the table limits is also a good idea. Most casinos have minimum limits as small as 1 mBTC, or something a bit higher. Whatever the cost, you surely won’t have to burn through a whole Bitcoin – the limits are properly adjusted.
Although it’s not a rule, sometimes a Bitcoin casino tend to provide higher odds for their games. If you can play with the cryptocurrency at increased odds, we suggest going for it.
Most online casinos nowadays accept a huge number of banking methods, including the latest e-wallets and all the popular options. Recently, the industry has seen many casinos turn to Bitcoin, the one cryptocurrency that rules them all.
Different Types of Bitcoin Casino Operators
There are two types of Bitcoin operators – BTC-exclusive and hybrid casinos. It’s worth knowing where you’re playing, as Bitcoin-exclusive casinos have a mostly limited selection of games. Bitcoin exclusive games will probably evolve in the near future, but right now, it’s best to stick to regular online casinos that accept cryptocurrency as payment.
Hybrid casinos offer the best of both worlds. They have a wide selection of games and are a more polished product than BTC-exclusives. All in all, they should be your choice for Bitcoin gambling as the alternative is still raw.
First Btc Casino
Nakowa 11000 Btc
Number of Bitcoins
Limited to 21 million
Ability to deposit and play anonymous
Low transaction costs
Transactions are not processed through a third party
Technology makes it possible to make everything run more fairly
Some Bitcoin casinos are not licensed
Bitcoin price is very volatile
Not everyone owns Bitcoin
Lack of standardized policy for chargebacks
The Bitcoin casino industry is always finding new ways of staying in touch with the times. This means it’s constantly changing and evolving to suit the needs of its customers. It follows all the advancements in the IT industry, but it’s also paying attention to the financial side of things. Launched in 2009, Bitcoin is the world’s first decentralized currency that works without the meddling of banks. Since its creation, Bitcoin has sent shockwaves in the financial sector.
Bitcoin Casino are Popular!
Online casinos have sparked the birth of a massive online gambling industry with billions in revenue each year. Nowadays, Bitcoin casinos are all over the place, offering a number of benefits for all players. Apart from the instant payouts and low house edge, you also get huge Bitcoin bonuses that are unlike anything you’ve ever seen in online casinos. When it comes to the bonuses themselves, you get all the popular bonuses plus a few unique types.
However, since Bitcoin casinos offer bonuses that pay exclusively in BTC, you can expect whopping prizes. All types of Bitcoin bonuses have one goal in mind – to attract Bitcoin owners to play at the site which is a win-win situation for both sides.
Bitcoin casinos offer all the common types of bonuses we all know and love. This means that when you play in a Bitcoin casino, you can claim no deposit bonuses, match deposit bonuses, and free spins as well. The difference between these casinos and regular online casinos is in the offer itself. While you may get several thousand dollars or Euros as a welcome offer in most online casinos, Bitcoin casinos usually offer a mix of BTC and free spins as a way to “reel in” Bitcoin owners. In addition to regular bonuses, Bitcoin casinos also offer a few exclusive Bitcoin bonuses.
Free Spins & Cash
The prizes range from less than a single Bitcoin up to 2 or more. In most Bitcoin casinos, you’ll also get a whole bag of free spins as well which usually come as a no deposit bonus. Of course, Bitcoin bonuses don’t come for free. Since they’re quite big themselves, you can expect the wagering requirements to be quite steep. But, hey, you’ll at least be entering the brave new world of cryptocurrency.
Let’s start with the simplest bonus of them all. Almost all Bitcoin casinos nowadays offer no deposit bonuses to the tune of free spins. This means that you get a nice free spins-wrapped gift for nothing more than registering at the site. It depends on the operator how many free games you get. It can be anything from a dozen to several hundred and they can be tied to a particular game.
The best Bitcoin casinos will offer 100 or 200 free spins on a hit slot. With these free spins, you get to spin the best slots without spending a dime out of your pocket. Of course, you’ll need to turn them over a specific number of times before you’re able to request a withdrawal.
A bit on the negative side, winnings accrued by free spins are often capped. This means that you can’t win million with them even if you wanted to. On the other hand, even if you hit the cap, you’ve still won money free of any charge.
Deposits bonuses are pretty self-explanatory – you get a matching first deposit bonus which often doubles your money or Bitcoins in the casino. For example, some casinos offer a 100% match first deposit bonus that will give you 100% more credits to play with. Most casinos offer deposit bonuses in mBTC, but some may offer a bonus total of several BTC.
Some Bitcoin casinos usually throw in free spins to spice things up a bit. With them, you’re getting quite a hefty welcome bonus which may spread to your following deposits as well. The fun never stops in Bitcoin casinos, with many offering bonuses on your 2nd, 3rd, and 4th deposits. They may not cover 100% like the first deposit bonus, but you’ll still get a pretty nice boost to your account.
If you know where to look, you’ll find Bitcoin casinos that offer deposit bonuses with a total value of 5 BTC. That’s not a bad sum at all. When it comes to deposit bonuses, Bitcoin casinos are much more generous than regular online casinos.
Free spins, as we already mentioned, are usually awarded as part of a deposit bonus or on their own as a no deposit bonus. No matter how you get them, free spins are a fun way of earning extra awards. They can be exclusive to one slot or provider or come as a “free for all” reward. If it’s the latter, you can use them in any game after you claim them and possibly win a nice sum of cash.
Of course, free spins are subject to wagering requirements just like any other bonus. You will need to complete the requirements in a limited period of time before you can request a withdrawal. Pay attention to the cap as well. Most Bitcoin casinos will put a cap on the winnings you can accumulate with free spins while also banning them from use on progressive jackpots.
The so-called Bitcoin faucet bonuses are a unique type of bonus available exclusively to Bitcoin casinos. Bitcoin faucet is more of a special rewards program than a bonus itself. To claim a reward, you’ll need to complete a task or set of tasks in order to claim a certain amount of cryptocurrencies. For example, you might have to play a game against the computer or do something else to get free Bitcoins.
If you ever run out of coins, you can ask the casino for a small number of Bitcoins which, of course, come with certain wagering requirements. Read them before claiming a bonus in order to prevent violating the terms and losing the bonus altogether.
Although most Bitcoin casinos offer bonuses and specials without the use of bonus codes, some will require you to enter a special code in order to claim the bonuses or earn other benefits. The same bonus codes may also be offered to regular customers as a way of claiming special prizes.
The process is simple – you enter the bonus code that is usually bolded in order to “unlock” and claim the bonus. Some casinos use this feature exclusively, while some opt against it. The end result in both, though, is the same.
The whole process is even easier than depositing via bank transfer, Visa or MasterCard. Whenever you want to deposit money, the cashier section will provide you with a Bitcoin e-wallet link where you can send the desired amount. That’s it.
It’s the same with withdrawals, which we have to say are blazing fast. Well, unless the casino has a pending approval period, which can range between a few hours and a few days.
Bitcoin is a type of electronic cash known as a cryptocurrency. This means it’s a digital currency that is decentralized, meaning it’s not administrated by a bank. Instead, Bitcoins can be sent from peer to peer without the need for third-party involvement.
If you’re wondering how the transactions work, they’re stored in a ledger known as the blockchain. You can’t buy Bitcoin as it is digital. The cryptocurrency is instead obtained through a process called mining, which involves the use of computer processing power.
The cryptocurrency was invented in 2009 by a person or group calling themselves Satoshi Nakamoto. Nakamoto’s identity is still a mystery. This has sparked the imagination of many conspiracy theorists who claim that Nakamoto may be different people, with Elon Musk mentioned in the mix.
Since its invention, Bitcoin has been highly controversial. Criticized for its use in illegal transactions and being a bubble, Bitcoin is still not accepted by the majority of countries. However, it did inspire many other cryptocurrencies which are recognized by large organizations.
Once mined, you can exchange Bitcoins for other currencies or use them to buy products and services online. Aside from buying stuff from eBay, the cryptocurrency has found its use in online gambling. The market has seen a great influx of Bitcoin casinos recently, although not all of them are good or legal.
Bitcoin casinos are still making baby steps, so it’s bound to evolve a lot in the near future. At the moment, it’s an attractive option that Bitcoin owners who like to gamble every now and then should explore. It will even get better in the future as more casinos adopt it and see all the benefits of adding the cryptocurrency to their list of payment options.
On the other hand, the controversy surrounding Bitcoin and the exchanges hacked in recent years add a cloud of uncertainty. Unless you’re sure of what you’re getting into, we’d suggest staying out of it.
What we think….
Although still outlawed in many countries, the number of countries that accept Bitcoin is on the rise. Major European countries have legalized Bitcoin transactions for a variety of industries with many others to follow suit soon.
It’s easy to see all the benefits Bitcoin offers. Since it’s not a government-backed currency and banks don’t stand behind it, all the transactions with it are free of fees. Well, not exactly free depending on what you use it for, but close to the 0% mark.Bitcoin bonuses are just like normal online casino bonuses with the exception that you get rewards in Bitcoins. Of course, certain Bitcoin casinos will also offer unique bonuses such as Bitcoin faucets which you don’t get with regular online casinos.
Thanks to the increasing popularity of crypto casinos, we have no doubt that Bitcoin casinos will find new creative ways to reward players with the in-demand digital currency.