Bitcoin is something that is very new in the casino industry. Created in 2009, this so-called crypto currency has become very popular indeed and has now made its way to online casinos as well.
In this page, we are going to be talking about Bitcoin casinos and the benefits of using bitcoins and crypto currency over your traditional means of depositing. Furthermore, you can also find a list of casinos here that allow you to use bitcoins and satoshis (1 bitcoin is 100 million satoshis).
How to play with Bitcoins
First off, in order to be able to play with bitcoins, you have to actually have your very own bitcoins. Buying them can be easily done at LocalBitcoins.com. So, if you do not yet have your own Bitcoin wallet, you can get one free of charge at Local Bitcoins upon signing up. This is somewhat similar to signing up with any of the modern e-wallets like Neteller, PayPal and Skrill.
After you have a Bitcoin wallet, it is time to find yourself a casino that accepts bitcoins. Obviously, here is where our list of Bitcoin casinos will come to your aid. Just pick a casino that has a casino bonus to your liking and you’re off to the races!
What are the benefits of playing with Bitcoins?
Of course, we should address this all important question as well. Why would anyone want to play with Bitcoins instead of your traditional currency? Well, in this day and age, why would anyone want to use snail mail to say hi to their friends when you have things like email, text messages and even instant messaging available?
Bitcoin is still rather new, so it is of course understandable that some people are still a bit sceptical towards this so-called crypto currency. After all, when it was first created, Bitcoin was nothing more than a monetary system that was completely made up. Then again, all of the world’s economy revolves around money that is either numbers on the screen or made of paper, and has no intrinsic value whatsoever. Bitcoin is actually not too far from this, when you think about it.
Bitcoin solves quite a few issues from the players’ perspective. Next, we’ll take a look at some of the most important benefits of using Bitcoin.
Bitcoin is fast
One of the best things about bitcoins is that using them is basically lightning-quick. No need to wait for days or even weeks for the other party to get the funds. Withdrawals tend to be very fast if not instant. This is after the casino processes them, of course.
Cheap transaction fees
The withdrawal costs with bitcoins tend to be a lot less compared to those of actual cash. Most of the time you are paying a small percentage for every transaction that you make with your traditional money. What’s more is that you could even end up first paying to the casino and then to your e-wallet provider as you are bouncing your winnings from both the casino to your e-wallet and then from your e-wallet to your actual bank account. Over time, going back and forth with your money can amount to much. Withdrawing bitcoins, on the other hand, is always cheap.
With bitcoins, people have better control over everything that they hold. So, if push comes to shove and the casino you’re playing at has to file for bankruptcy (not likely, but could happen), you will still get to keep your bitcoins.
Is it safe to play with Bitcoins?
When playing any games based on luck, you are basically placing your trust in the organising party of the said game of chance. This means that if they actually chose to just fool you, you probably would not even guess as they can always say that you only had tough luck.
The Bitcoin community has come it with a system called “provably fair” . Long story short, however, they have developed a way that allows you to verify whether the results of these so-called games of luck were actually random or not.
Of course, when an online casino has a gaming license from a trustworthy licensor such as the Malta Gaming Authority or the UK Gambling Commission, you can be pretty sure that the random-number generators are tested at regular intervals and should indeed provide a random result every time.