Bitcoin was launched as a virtual currency in 2008 but has soon carved a niche for itself in the marketplace, competing with regular currencies. The crypto-currency is known for its unique features and perks, which is why it has made its way into online casinos. And that’s where we come in. Our experts bring you all the action from the best bitcoin casinos in the business so that you can enjoy a safe, convenient and great gambling experience.
These casinos are where you can make deposits and cash out at lightning speed no matter where you may be located across the globe. So if you wish to know more about bitcoins and how to make the most of bitcoin gambling, you’ve reached the right place. We can help take your gambling experience to a whole new level.
Bitcoin is a virtual currency created by Satoshi Nakamota in 2009. While this was the peak of the global economic meltdown, the digital currency managed to tide the currents and carve a niche for itself in the peer to peer marketplace. The bitcoin has fluctuated like any other traditional form of currency but is now worth around $650. It is generated by an algorithm and has no physical presence in the form of paper notes or coins. Therefore, it is the quickest way to conduct transactions, making it a number one choice for many online casino players.
To play at a bitcoin casino you will obviously have to buy bitcoins. The digital currency is easily bought and sold from Bitcoin Wallets. Some of the popular sites include Bitstamp, Kraken, and CoinMate. They can be purchased with regular currencies through credit cards and bank wires, which are among the commonly accepted modes at these exchanges. Users are provided with a bitcoin address which is used just like traditional eWallets to transfer funds from one account to another.
Bitcoin balances are stored using public and private keys which are strings of numbers and letters. These are linked by an encryption algorithm. The pubic key is similar to a bank account number that is also the user’s bitcoin address that can be used to make transactions. On the other hand, the private key is similar to a PIN at ATMs and is used to authorize transactions. Casinos that support the digital currency allow its members to purchase bitcoins directly from their site. Some casinos are exclusively designed for bitcoins while some of the other traditional online casinos support bitcoin payments in addition to other regular forms of banking.
The value of 1 bitcoin continues to fluctuate much like traditional currencies and is currently worth around $650. Therefore, the digital is broken down into smaller pieces known as milli-bitcoins. Most online casinos permit minimum deposits of around 1 mBTC which is as little as $0.65c. When it comes to wagering on slots or table games, most casinos permit wagers from as little as 0.01 mBTC.
Betting with bitcoins is similar to traditional betting. Once you’ve funded your casino account all you need is to choose the size of bet you wish play and you are ready to spin the reels in your favorite slot or play a hand in a table game. The process is similar to real money bets.
One of the major benefits that trickle down to players at a bitcoin casino is the savings. The casino operator does not have to bear any transaction costs or third party commissions and is therefore able to offer better bonuses.
Most importantly, players benefit from speedier transactions and can expect funds in their casino account or cash out in the least possible time.
Bitcoin casinos allow for a great deal of anonymity where users are not required to furnish any sensitive data and other personal details. The format works on bitcoin wallet addresses, which also eliminates the risk of data being stolen.
Bitcoin is a global digital currency so players from areas where payment options are restricted have an excellent alternative.
Many bitcoin casinos are provably fair, which means their RNG or random number generator is certified for fair play. However, since members and the casino add their own seed numbers to generate random numbers, this allows for a higher degree of transparency as compared to traditional online casinos.
Now that you’ve realized the value of getting involved in bitcoin gambling it’s time to check out how you can fund your casino account and withdraw winnings as well. For the most part, it is just the same as traditional online casinos and much the same way you would use a eWallet. Simply visit the cashier’s section and enter the amount you want to deposit. You will need to add the casino’s bitcoin address and send it from your bitcoin wallet. Once you confirm the transaction the bitcoins will be available in your account.
Cashing out winnings is as easy with bitcoins. In the cashier’s tab you will need to enter the amount you desire to withdraw along with your bitcoin wallet address. Once the request is confirmed, your funds will be transferred to your bitcoin wallet.
Remember, there’s an awesome selection of classic slots, video slots, numerous variants of blackjack and roulette, video poker, and much more, at bitcoin casinos. Besides, the digital currency is slotted to be the top currency of the future so now is the right time to get involved. There’s a whole new world of gambling waiting for you.
Our bitcoin gambling guide is just what you need to help you navigate this new world. So what are you waiting for? Hop over to a bitcoin casino and experience the difference.