Crypto Casinos: The Future of Online Gambling in the United States?
July 8, 2022 1372 Views
It seems that online casinos are starting to take notice of crypto and the potential…
The Benefits of Bitcoin Gambling
Last Updated on September 29, 2022
Bitcoin is now more than a decade old. Since its inception, it has seen its fair share of ridicule and doubt, but today, it’s by far one of the most popular and known cryptocurrencies in the bitcoin gambling industry. Bitcoin has its mark as a reliable and valuable digital currency, allowing individuals to make Bitcoin deposits, play games, and withdraw their winnings while at the same time remaining anonymous.
On top of that, Bitcoin provides online casinos with the opportunity to enjoy lucrative bonuses and promotions and a wide game variety. Keep reading to discover all advantages to play in crypto casinos, including additional benefits and some of the best Bitcoin casinos that you can sign up with and take your gambling journey to a whole new level.
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Top Bitcoin Gambling Sites
2.FortuneJack
FortuneJack is a true pioneer of online Bitcoin gambling. Established in 2014, the casino currently offers a welcome bonus of up to 6 BTC, 100 free spins on registration, and hundreds of games and markets to choose from. Sports, dice, live casino, and provably fair games are all available for selection. Read FortuneJack Review
3. Bitstarz
Busting onto the gambling scene in 2014, Bitstarz now offers slots, casinos, Bitcoin, and top live casino games. Once you create an account, you’ll receive a 5BTC bonus that comes with 180 free spins. Bitstarz holds a Curacao government license, meaning it is safe, legit, and reliable. Read Bitstarz Review
What is Bitcoin?
Bitcoin is a digital method of payment. It is a solution to all limitations of fiat currencies. As a digital wallet, Bitcoin records the amount of cash that flows out of it and not computerized money or coins. All transactions that take place through Bitcoin are recorded in a public and permanent digital ledger that can be audited in real-time.
Bitcoin is also a decentralized digital currency that individuals can use in exchange for other services and goods online in addition to gambling and placing bets. Since it’s decentralized, all the funds are sent directly to the recipient, meaning it cancels out the use of third parties. With this, Bitcoin transactions can last between a few seconds and minutes. That is the main reason why many gamblers enjoy instant deposits and the fastest withdrawals in online crypto gambling websites.
Advantages of Using Bitcoin Online Casinos
To enjoy all the benefits that Bitcoin online casinos offer, you need to filter and find the right gaming sites. It’s important to check out all the terms and conditions, bonuses and all other features that are vital to you. With that in mind, here are more advantages of playing in Bitcoin casinos:
- Provably Fair Casino Games
One of the most common issues that players have with online gambling sites is the lack of fair games. While legitimate gambling venues show the volatilities and RTPs of the games that they offer, there’s no way players can see the algorithms at work to know if the random results are trustworthy.
One of the main advantages of Bitcoin online casinos is their way of utilizing Blockchain technology to their slot machines and games via the provably fair algorithm. Slots and other casino games such as Bitcoin Roulette that use this algorithm work just like their regular online counterparts. What makes Bitcoin online casino games fair is the seed that comes from the device and the operator.
Players can see and create seeds from their end while the casino operators’ servers provide encrypted and hashed seeds. Any outcomes generated by the fair algorithm can be created with the encrypted seeds, making sure they are authentic.
- Transaction Speed
Instant deposits and the shortest possible withdrawal times are the main reasons why gamblers flock to Bitcoin online gambling venues. Fiat currency transactions can take hours or even a few days to complete since they pass through third parties or intermediaries to verify. Also, there is the factor of working days to take into consideration. In most cases, casinos that use fiat currencies do not process any withdrawals made across the weekend.
Bitcoin is free from any controls and doesn’t need an intermediary to process transactions. All withdrawals from Bitcoin online casinos are processed instantly or within minutes. Also, you don’t need to worry about withdrawing your funds during the weekend since BTC is a decentralized payment method.
- Military Grade Security and Privacy
Privacy is another major advantage that many players across the world enjoy. Unlike bank accounts and credit cards, it’s possible to purchase Bitcoin coins without using your real address, name or phone number. Many traditional gambling sites require their players to provide them with personal and private information such as debit and credit card details.
Providing your private information on these websites can sometimes turn out to be risky. The tiresome process of filling out lengthy forms that need lots of details further worsens this. Bitcoin gaming venues have come to the rescue, eliminating this impediment while at the same time guaranteeing that the personal information of gamblers is safeguarded.
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