The advantage to playing at a bitcoin casino compared to a traditional online casino is that you are in complete control of your bitcoins. Most bitcoin casinos will want to manually approve a payout transaction before a payment is sent for obvious reasons. Other than that there is not a lot of wait time. With USD and Euro casinos payouts can take weeks to receive, not hours.
Not all casinos accept just bitcoins. In fact, you can play slots or poker with almost any virtual currency. A lot of people like to play using litecoins or doge for example. Casinos like Fun Casino or Anonymous Casino offer other virtual currency slots. If you want to play slots with doge or gamble using litecoin you have many options other than exchanging for bitcoin.
Not all bitcoin casinos are equal. In fact some are fly by night rip offs where you lose all of your hard earned bitcoin no matter what. Even though scam bitcoin casinos do not last long and word spreads fast among the bitcoin community you still do not want to accidentally stumble across one of these sites. If you are thinking about risking bitcoin in a card game or slots it is best you read reviews on the casino you wish to play at.
Best Bitcoin Casino
There is not really a best bitcoin casino when it comes to gambling. You can have good days as well as bad days, expect both! Through technology, years of playing, heavily involved in the bitcoin casino community and experience in the industry we can definitely tell you the ones to stay away from. When looking for the best bitcoin casino there are a few things to keep in mind. Game selection is important to a lot of people. Some start up bitcoin casinos lack game selection. Also you want to take in to consideration who is providing the bitcoin games. Right now SoftSwiss, Betsoft Gaming, Amatic and Endorphina are major providers of bitcoin slots as well as card games to most casinos. These games get boring after a while though unless they are adding new ones. Other bitcoin casinos like vegascasino and bitcasino offer some additional games. Even some of the industry standard casinos are altering their platform to fully integrate with bitcoin casinos.
Provably fair is another feature a lot of gamblers look for in a bitcoin casino. This is a feature some bitcoin casinos implement to ensure fair gaming and that neither the house nor player is cheating. In short a player can check the fairness by a randomly generated seed produced.
Bonuses and no deposit bonus codes can be fun and occasionally produce results. We play bitcoin casinos all of the time and have yet to find these nothing more than ways to get you back at the casino. Most free spins usually equal a small amount of mBTC in which you have to play through 30x your winnings. The free spins a bitcoin casino will offer most of the time are based on the lowest bet possible. Whatever you win with your free spins hardly ever amounts to much. All in all they are “usually” nothing but time killers. So if you play for the simple joy of watching reels spin then look for a casino that is always handing out free spins.
Deposit bonuses can be profitable if you enjoy betting high. Some casinos offer a 100% to 200% bonus on a deposit. Same rules apply in play through requirements. If you deposit 1 BTC and get an extra 1 BTC to play with you may have to play through 30x 1 BTC. Most likely you will not meet the cash out limit but it definitely has been done.
If you are serious about gambling try and find a casino that omits the free spins. Those casinos seem to have more BTC to pay out compared to a bitcoin casino that it busy giving a way freebies to reel watchers. Bitcoin Penguin is an example of this. They pay out less junk payments and seem more designed to pay actual winnings.
Anonymity is a feature you should seek out. It is not the business of anyone on where or how you spend bitcoin. Most bitcoin casinos are anonymous but some actually do want your information extending past an email address and bitcoin address. Hybrid casinos have a tendency to request an ID, address and other documents. Not all of them do this but a large percentage of these casinos do. If finding a bitcoin casino that is anonymous is important to you this is another things to look for.
About Bitcoin, What Is It And How Does It Work?
By now many people have heard of the most popular crypto currency, Bitcoin, and are wondering what it is. There many new terms being used in the news that people might not be aware of. Crypto currencies such as Bitcoin are digital currencies which utilize cryptography to combat against the recent rise in fraud and digital financial security issues. Keys are created that both public and private entities can use to maintain safe financial transfers. Crypto currencies are essentially decentralized digital currencies that remove banking institutions and outside interference from financial processes.
Unlike the current financial standard of cash, Bitcoin is completely open-source and many of the popular Bitcoin clients are maintained by open-source communities. The current financial markets and systems are heavily regulated by large banks and corporations who don’t have the public’s interest at heart. As a peer-to-peer payment network Bitcoin is able to maintain it’s anonymity while providing immense benefits to those who use it. What started out as a hobby has grown into a global phenomenon and millions of people are opting to use Bitcoin instead of hard cash for their daily needs.
Bitcoin are produced, or mined, through programs designed for that specific purpose. Thousands of them are unlocked every day by amateur hobbyists and professionals who are involved in the Bitcoin market and want to help it grow. The crypto-currency was designed this way to prevent unfair inflation and to keep the growth rate steady. Global currencies such as the U.S. Dollar and constantly fluctuating in price and have no real value while the value of most crypto-currencies is matched against the amount of that currency in the current market.
How Bitcoin Works
The way Bitcoin works is simple. New users must install a Bitcoin wallet onto their computer or mobile device or through a 3rd party like coinbase for example. This wallet will then create a unique address, which can be given to friends, acquaintances, and businesses in order to deliver or receive payment. Any transaction of Bitcoin requires a private key that is issued to provide proof that the user is the true holder of their Bitcoin wallet. Without the key a transaction will not be possible. This key also prevents transactions from being changed and highly decreases the chance of fraud occurring. There are different levels of privacy and security depending on which bitcoin wallet you choose. Be aware of this and NEVER download and install a client that has not been tested by the bitcoin community. You can find tested wallets at https://bitcoin.org/en/choose-your-wallet
While the average person is unaware of Bitcoin and how it works, Crypto currencies are the way financial transactions are headed in the future. The current financial system is seen by many as broken, completely controlled by banks, corporations, and the upper class. With Bitcoin there is complete transparency and a higher level of security then many users will ever receive at a local bank. It’s not a matter of if Bitcoin and other crypto style currencies become the norm, it is when. Global banking sectors are already working on similar systems.