As Bitcoin continues to gain value, it is become more widely accepted around the world. This has meant that there are more and more Bitcoin Casinos available on the Internet. However, as the number of Bitcoin Casinos grows, this makes it more difficult for new players to choose one of these Bitcoin-friendly casinos. So, how do you go about choosing a Bitcoin casino? What are the benefits and what should you look out for? The team at Casino US has put this Bitcoin Casinos guide together to help our readers out in choosing the best online casinos.
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What are Bitcoins?
Before we go any further, we should probably explain what Bitcoin is. This is often confusing to many people, and for good reason. Bitcoin is a decentralized virtual currency, or cryptocurrency. This basically means that it does not actually exist in the real world, nor is there a central bank that regulates it, like the Federal Reserve.
The truth is, it’s not really all that easy to understand it. All we really need to know is that this virtual currency’s value has exploded in recent months. In 2017, the value of one Bitcoin increased by around 2200%. People and businesses from all over the world have started using Bitcoin, including numerous casinos online.
Benefits of Bitcoin Casinos
Many players also wonder what is the point of playing at Bitcoin casinos, especially if they’re already signed up to a casino online. Well, the truth is that there are actually some benefits to switching. Players will just have to decide if these benefits make it worth changing from their current casino.
One of the first benefits of using Bitcoin casinos is they normally have a slightly lower house edge than other casinos. The house edge is only 1-2% lower, but this is still an advantage for players. Bitcoin casinos also tend to offer faster transaction times for banking. Players are able to deposit and withdraw using Bitcoin, and it take a lot less time for the transaction to be processed.
Many Bitcoin casinos also use something known as ‘Provably Fair’. This is a system that verifies the results of the game are fair by being transparent with the algorithms used to generate the results. This ensures that the players are treated fairly, and no one can modify the random nature of the game.
Last but not least is the anonymity. This is one of the most attractive aspects of Bitcoin casinos for many people. They don’t need to input any personal details to use Bitcoin.
What to Look for When Choosing a Bitcoin Casino
When it comes to choosing Bitcoin casinos, the criteria remain the same as when choosing any other casino. If you’re unsure what to look for, here is a break down of what our team of reviewers looks for when reviewing any casino.
Player Safety – The most important aspect of any Bitcoin casino is player safety and security. We always make sure the Bitcoin casinos that we recommend are fully licensed by the appropriate regulatory bodies. This ensures the casinos treat players fairly and don’t rig the games. In addition to this, we make sure all transactions are secured, and personal details are properly encrypted.
Game Selection – With any casino, Bitcoin or traditional, the game selection is vitally important. Players need to be entertained with a wide variety of casino games. These must include a big selection of slot games, as well as classic table games.
Casino Bonuses – Who doesn’t like receiving casino bonuses? When it comes to recommending Bitcoin casinos, we make sure we recommend the ones with the best bonuses. This doesn’t just mean the biggest bonuses, but the ones that also have fair terms and conditions attached to the bonuses.
Player Support – No casinos can get away with sub-par customer support anymore. With so many Bitcoin casinos offering great customer service, newcomers have to keep up. This means support that’s available 24/7 through multiple communication channels.
Fast Payouts – This is another area that needs to be good. No one wants to wait weeks to receive their winnings. Casinos need to be able to payout quickly, which is one of the benefits of Bitcoin.
How to use Bitcoin Casinos?
Thankfully, using top Bitcoin casinos is pretty much as easy as any other casino. Players first need to find a Bitcoin casino and create their casino account. Next, players need to get themselves what is known as a Bitcoin wallet. This is a virtual wallet where players can keep their Bitcoins. There are numerous different sites offering these wallets, so players should look around and do some research.
Once you have the wallet, you need to get some Bitcoin. There are a few ways, but generally speaking, the easiest way is to visit a site that sells them. Players simply need to decide how much they want to buy and exchange their dollars for the cryptocurrency.
Bitcoin Casinos FAQs
What are Bitcoins?
Bitcoins are a virtual currency that is decentralized and not controlled by any government. Despite the fact that this is a virtual currency, the value of one Bitcoin has skyrocketed and is worth over $15 000 at the time of writing. However, the value is very volatile and can fluctuate greatly from one minute to the next.
How do I get Bitcoin?
It is possible to mine Bitcoin using your computer, but this is a very slow process. And, unless you have specialized equipment, it is not likely to return much. The easiest way is to buy them from websites that’ll exchange your currency for the cryptocurrency.
Can I use Bitcoin for online gambling?
Yes, you can. However, many casinos still don’t accept the currency. This means you’ll have to spend a little more time to find a casino online that does allow Bitcoin transactions.
Are Bitcoins safe to use?
Absolutely! Bitcoin wallets have very impressive security features that make them extremely difficult to hack. In addition to this, using a reputable Bitcoin casino is just as safe as a reputable casino. As long as you do your research, there is nothing to worry about.
Are the transactions quick?
One of the best things about using Bitcoin casinos is the speed of the transactions. Most banking methods require a few days to process withdrawal transactions. However, with Bitcoin, the withdrawal should be processed immediately.
Is it more expensive to use Bitcoins?
It shouldn’t be. Purchasing Bitcoins shouldn’t carry much of a transaction fee, and Bitcoin casinos also keep their service fees low. If they didn’t, there’d be little reason to use them. Players must just remember that the price of Bitcoin is always changing, so it is very likely that the funds you deposited into your casino account will not be worth the same amount when you withdraw. The good news is that the trend at the moment is for the value to increase, so it’s likely your Bitcoin will be worth more.