2009 brought forth so many different things. But one of the biggest out there was the creation of Bitcoin. At the time, it was brushed off as some weird trend, but since then, cryptocurrency has exploded.
It’s to the point it’s public knowledge, and many businesses have jumped onto the bandwagon to take advantage of it. While some places have flopped and others have thrived in unusual circumstances, it’s fair to say that the concept of cryptocurrencies along with the Bitcoin is here to say.
And already we can start to see that at work thanks in part to the creation of bitcoin casinos. How are they able to thrive? What perks do they provide users? Today we’ll take a glimpse at these and why they have been thriving in more recent years.
Why Do People Love Online Casinos Bitcoin Options?
To begin answering that question, we need to look at why these are such big players in the first place. Where we start to see the appeal is within the bitcoins themselves. If you’re not familiar with them, bitcoin or BTC is a decentralized currency, which means that there is no single government or bank that controls the coin.
Because of this, when doing transactions, people won’t know who is doing the transaction. They’ll know what it entails in a general sense, but people can’t pinpoint who it is.
Not only that, but the money that you’re sending is highly secure. If the system is fully capable of masking who you are, it makes sense that everything else involving this system is secure too.
This enhanced security is ample reason many people love it. When it comes to payment systems, people are looking for reliability and security. So long as a payment system or a currency can provide that, people will get behind it.
Types of Casinos
Now that you have a grasp of them, you may want to consider hunting them down. While you can select from plenty of online casinos that accept bitcoin, it’s worth noting there a few types to consider:
- One of them is known as exclusive bitcoin casinos. As the name would suggest, these are the casinos that accept bitcoin, but only those.
- You also have hybrid bitcoin casinos. You’ll find a lot of the best bitcoin casinos within the industry to fall into this category. These specific companies are the ones that will have several alternatives. This gives you a vast and expansive option to pick what you want. Pay in bitcoin or in real cash, whatever you like.
It’s important to know these types because while these seem great, there are some drawbacks to each one of these types.
For one, the hybrids will have those multiple options for payment in the event that you don’t have bitcoins to gamble at the current moment. That being said, do know that these casinos of this nature have a tendency to convert bitcoin into a type of traditional currency. In this scenario, you are trading convenience for potentially less money gain.
Read also: Online Casino with CoinsPaid
On the other hand, at the exclusive ones, you won’t have to worry about exchange rates. However, narrow payment options can make it difficult. The fact these places only allow Bitcoin means any other alternative coin like Litecoin or Ripple won’t work. In those cases, you’d need to find an exchange and convert those coins to Bitcoin. It also becomes tiresome in the event the program accepting payments goes down, which can happen on occasion.
Casinos to Play at & How to Pay
As mentioned above, there are tonnes of hybrid casinos, allowing you a flush of options to consider. Below is a list of options of the top bitcoin casinos to try out and what they offer:
- PlayAmo, which offers 100% on sign-up (up to $1,500) as well as some solid free spins (150).
- You’ve got Yako Casino, which offers 100% on sign-up ($99 max) along with a good amount of free spins (99).
- Unique Casino can be another option too. Its promotion is a deposit bonus of $300 + 20 free spins.
One another thing to note is that paying with bitcoins is an easy task too. They made the system straightforward and simple. Follow the steps below. All you need is a bitcoin wallet to get started:
- Download a wallet from a reliable third party.
- Once you get the wallet, go into the wallet and get the bitcoin address. It’s at least 27 characters long. Go ahead and copy it.
- On the casino’s page, when you are going to deposit, you’ll need to provide that address. After that, you’ll indicate the amount you want to deposit.
- Wait for the confirmation, and the coins will be taken out of your wallet.
Bitcoin is referring to the cryptocurrency that started it all: Bitcoin. What it is, in essence, is a currency that has been issued using technical software. It’s got no ties to governments or countries, unlike traditional currencies.
It depends entirely on where you are going. Again those types mentioned above is important as it influences their behaviour. If you’re working with an exclusive bitcoin casino, all the bonuses that will be offered will be in bitcoin.
So should one of them offer this type of bonus, you’d expect it to be in crypto. That being said, you won’t find that with hybrid types since they also deal with real money.
These casinos are nothing different from the usual casinos that people engage with all the time. As such, there are no unique rules for these establishments. It’s all the same.
Yes. Similar to how you deposited, withdrawal is through a similar process. You’ll receive a code that you can then go to your wallet and claim it to complete transactions. This will be the case with those who deal only with bitcoin. The same can’t be said for hybrid who may push players to use other withdrawal options instead.
It’s the same way as any other currency. So long as the casino allows it as a valid payment option, then you can use it without worry.
Blockchain technology is the foundation for cryptocurrencies, but it can also be used in a wide variety of other situations as well. What it is, in essence, is a ledger that is connected by thousands of computers. This makes it safe because if you’re trying to hack the blockchain, you’re hacking into a large network. This is drastically different from, say, hacking into a computer at a bank. There’s only one computer you need to deal with to compromise the system. With blockchain, that’s impossible.
And again, that’s where your payments are recorded and processed.
Unlike traditional currency, any crypto coin you find can be broken into 100 billion pieces. Similar to how real money’s dollars can be split into nickels, dimes, and quarters, this digital currency follows the same sort of system.
The only thing to keep in mind is that when you go to deposit any bitcoin in a casino, they will be looking for a minimum amount. A good rule of thumb is that they’d accept 0.0001 as a minimum.
Because bitcoin casinos are more or less attached to the same familiar casinos we know, this is more of an added feature. And from the looks of it, it’s a very welcomed feature.
Some of the perks to it are:
- Being a mystery person throughout the entire process.
- A lack of a middle man means faster times for any type of transaction.
- No territorial restrictions, which some payment systems do have.
- Transactions are constantly secure thanks to blockchain. This technology is the foundation of all cryptocurrency.
- You will even increase your winnings if the value of the coin used bumps up in value.
These are well worth considering, especially since the only real drawback is the few things mentioned above. Those being the exchange rates fluctuate and that exclusive bitcoin casinos could run into payment processor errors.