Not surprisingly, the online gambling world also welcomed the arrival of Bitcoin. With Bitcoin payments, your money is transferred practically instantly. Thus, after registering, you can start gambling right away.
For the online casinos, there are other advantages as well. They often do not pay anything to make withdrawals. They also do not have to compensate for wrongly placed transactions.
Get your money faster with Bitcoin as a payment option
It is considerably easier and cheaper to deal with Bitcoins than with currencies. As a result, you will often find higher bonuses and regular promotions at so-called Bitcoin casinos. This all sounds very positive. But unfortunately, this opportunity is still too often seized by online casinos with unclear intentions.
Faster payments when gambling with Bitcoins
Bitcoins and online casino users
For users of online casinos, Bitcoin is truly a godsend. Indeed, the cryptocurrencies were created to make Internet payments faster, safer and more reliable. Often Bitcoins are transferred instantly. This means that you can wager them in an online casino immediately. In addition, these transactions often cost nothing, making it attractive to transfer small amounts. And if you win and want to cash out your winnings, you’ll receive it in no time.
If, on the other hand, you pay with your bank account or credit card, things can be different. The speed of the transaction may depend on the day and time of day, and transactions may take days to complete. Another great advantage of Bitcoin for online gamblers is that its use is completely anonymous.
You don’t give out any personal information. So no one but you can find out how much money you have transferred to the casino. Online gambling has not yet been legalized in many countries. As a result, anonymity is highly valued by the users of online casinos. But how does this gambling with Bitcoins work exactly?
Create a wallet
Everyone who wants to use cryptocurrencies must first have a wallet. This is where all your bitcoins are stored so that you can use them for your own purposes. This term is actually strange because one of the reasons why Bitcoins are so safe is because they are not stored in one place on the Internet, but several places.
Each time you receive Bitcoins they are placed in a different address. To make it easier for users, the wallet was designed, where you can see at a quick glance how many Bitcoins you have and what the exchange rate is at the time. This wallet is easily downloaded from the internet and you are ready to start.
In your wallet you will find different information. One part of this is the receipt address for your Bitcoins. This is randomly generated and consists of a large number of letters and numbers. Fortunately, you can often scan it with a QR code, so you don’t have to remember it or write it down. You give this address when you go to buy Bitcoins and the most common way to do this is at an Exchange.
Other than your receiving address, you do not need to give any personal information to the Exchange. You can pay for your Bitcoins with your credit card or bank account and they will appear in your wallet in no time. Now you can move on to finding a reliable casino.
Are Bitcoin casinos safe?
At the moment, you are asked to select online gambling at Bitcoin casinos with care. This is because there are many online casinos that do not have the proper licenses, and these are often the casinos that advertise Bitcoin. Therefore, it is very important that you don’t blind yourself to the high bonuses, but that you first learn about the legalities.
- First, every online casino must have a valid license obtained from a gambling authority of a country where online casinos are legal. Often this is Malta, Gibraltar or Curacao.
- Secondly, you then look at whether the casino can guarantee that the scores are generated completely randomly with a Random Number Generator. If they can’t, then there is a chance that you are participating in an unfair game. Third, the SSL connection is very important and should be secure and encrypted so that all the information you pass on is safe.
- Last but not least you should read the reviews of current customers. Here you will often find a lot of information about the payout process of a casino and whether it is fast and complete. If a casino meets all four requirements above, then chances are you can just gamble here safely and honestly.
The bonuses of Bitcoin casinos
Aside from the speed and ease of payouts, one advantage is that because most Bitcoin casinos save money on conducting transactions, they can offer larger bitcoin bonuses.
It is not strange to see large 100 percent welcome bonuses accompanied by a large number of free spins. The terms and promotions are also often more attractive for returning players. This is reflected in the size of the jackpots, the number of cashback bonuses and the promotions offered by Bitcoin casinos.
Of course, this is of little use if the games are not offered fairly. If you have found a casino with a perfect bonus but without licenses, it is better not to join it. So do your research and make a list of honest and reliable Bitcoin casinos for yourself before comparing bonuses at all.
To gamble or not to gamble at Bitcoin casinos
When all is said and done, gambling online is always at your own risk. Whether you do so at a Bitcoin casino or not. The risk of dealing with an illegal casino is only greater at Bitcoin casinos. So it is very important that you follow the tips above and choose a fair casino. Then you can take advantage of the high bonuses without risk. There are often interesting promotions and all sorts of benefits that paying with Bitcoins brings.