Many players have recently found themselves puzzled by the rapid spread of bitcoin gambling.This is understandable, because bitcoin casinos offer attractive bonuses, fast withdrawals, and a number of other advantages.At the same time, bitcoin differs from traditional payment methods and fiat currencies, so an unprepared player may have some difficulties with its use.
In our bitcoin gambling guide, you will learn not only how to play with cryptocurrencies, but also how to buy and store them.In addition, you will learn basic precautions to help protect your winnings.Finally, you will see that playing with bitcoin is much easier than it might seem.
What is bitcoin gambling?
Bitcoin casinos are different from traditional online casinos, but at the same time very similar to them.As you might guess, the main difference lies in the payment method used to deposit and withdraw funds.However, the gameplay does not actually change.But first things first. Bitcoin is the original cryptocurrency created by Satoshi Nakamoto in 2009.Today, Bitcoin is the most reliable and widespread cryptocurrency in the world.Bitcoin differs from traditional payment methods because it uses a decentralized computing network supported by thousands of participants.In this network, there is no centralized manager who would control it.
The decentralized design of bitcoin determines its key advantages, due to which more and more gambling sites are abandoning fiat currencies in favor of digital ones.Bitcoin gambling has proven to be a natural extension of the traditional real money game and is only getting more popular with time. In simple terms, a bitcoin casino is an online casino that allows its players to deposit and withdraw money in bitcoin. You can play cryptocurrency casino at cassino online brasil. Such casinos use bitcoin as both a payment method and an in-game currency.Most bitcoin-enabled gambling sites use a standard set of rules and games while empowering players financially. More importantly, when playing with bitcoin, you don’t even need to forego casino bonuses.Moreover, the quality and size of bonuses in bitcoin casinos often exceed those offered by regular online casinos.
Is it legal to play with bitcoin?
If you are interested in bitcoin gambling, you probably want to knowif bitcoin gambling is legalin your country first.
To date, there are no specific rules in the world that would determine the legality of gambling on bitcoin.However, different countries may have different laws governing cryptocurrency transactions and gambling.
It is worth considering that most bitcoin casinos operate on the basis of licenses that prohibit them from accepting players from certain jurisdictions.However, there are also bitcoin casinos that do not require verification from players, so they can accept even those who would otherwise be banned from playing.
As such, bitcoin gambling is perfectly legal in most jurisdictions, with a few exceptions.To understand this issue, please refer to the local legislation and casino rules.
Why did people start using bitcoin in gambling?
Long transaction processing times, high fees and stuck payments are all familiar to players who use bank accounts and debit cards.Bitcoin was created as a response to the shortcomings of the modern financial system, which are evident when playing in online casinos.
By using bitcoin for depositing and withdrawing funds, you exclude the possibility of freezing the transaction by the bank.The problem is that the current payment system is overflowing with all sorts of intermediaries that increase the likelihood of errors or delays.When transferring money via bitcoin, there is only a transparent network between your wallet and the casino.
In addition, the presence of intermediaries entails serious financial costs.Banks tend to increase the cost of services when a certain transaction amount is exceeded.For the Bitcoin network, it doesn’t matter if you transfer $1 or $1,000,000 – the processing cost will not change.
Fortunately, more and more people are realizing why it is important to control your money and not rely on banks.Because of this, bitcoin is only used more actively over time, and the online casino industry is no exception in this regard.
Types of bitcoin gambling
Perhaps the best thing to say about the spread of bitcoin is the variety of games available for betting on the cryptocurrency.A few years ago, bitcoin gambling was quite an exotic thing, and players had to spend a lot of time looking for the right site.Today, even well-known casino brands have to add support for bitcoin in order to meet the requirements of a large part of the players.
Almost all types of online gambling are available for bitcoin betting.First of all, these are different slots.To date, their number has exceeded 10,000!In addition, all popular table games, including their live dealer versions, have also been adapted to play with cryptocurrencies.Some of the most popular Bitcoin table games include blackjack, baccarat, poker, and roulette, but that’s not all. Live game shows such as Crazy Time, Dream Catcher and Monopoly Live make up a category of their own.They have become a real breakthrough for the gambling industry in recent years and are also available for bitcoin betting. BetWay casino is one of the best for playing cryptocurrencies.
Moreover, bitcoin games often outperform their traditional counterparts.So, thanks to the money saved on commissions, bitcoin casinos can offer a higher return (RTP) in slots, which directly affects your gaming experience.In addition, sports betting also has higher odds if you use bitcoin.By the way, bookmakers are an integral part of many bitcoin casinos.
Why should you consider bitcoin for playing in a casino?
If you are still in doubt about whether to play Bitcoin, we suggest that you familiarize yourself with the main advantages of this approach.After all, there are very specific reasons why bitcoin casinos have become so common lately.
free money network
Bitcoin allows you to transfer money in peer-to-peer terms through the blockchain without intermediaries.These qualities make it suitable for a variety of purposes, including casino games.Bitcoin can be compared to cash because no one in the world can stop you from using it.When sending a deposit from a bank account to a casino, there may be delays due to the payment institution’s own procedures.Also, problems may arise when withdrawing funds.
Such delays are not possible with bitcoin, since it is not controlled by centralized structures that would be responsible for approving transactions.However, please note that Bitcoin has its own transaction processing time, which under normal conditions can be up to 30 minutes.In addition, no one can freeze your money in bitcoin, which sometimes happens in banks.Another feature: bitcoin is universally accepted, meaning you can send it to anyone, even if they don’t accept your local payment instruments.
financial privacy
Bitcoin is a pseudonymous cryptocurrency, the coins of which are not tied to certain people in the real world, but to digital addresses.All bitcoin transactions can be seen on the public blockchain, but there is no personal data.Such pseudonymity attracts players who value their financial privacy and do not want to disclose casino deposits to banks.At the same time, manybitcoin casinos prohibit their players from having multiple accounts.
Volatility
Bitcoin is a volatile asset.In other words, its value can fluctuate significantly over time.This can be both an advantage and a disadvantage for players.So, you can send a transaction and watch with regret how the value of the transferred assets increases.On the other hand, you can lose the deposit, but recapture it by increasing the value of the remaining assets.This factor should also be taken into account when playing for cryptocurrency.
How to make a deposit at a bitcoin casino?
As a reader of a beginner’s guide to bitcoin, you probably haven’t bought a cryptocurrency yet.This is not a problem at all and will not take long.It is important that you do not need to buy a whole coin.Just buy a share of bitcoin and deposit any amount you want into the casino.So, by making a deposit of only 0.005 BTC, you will be playing with the equivalent of more than $100.Next, you will need tochoose a BTC casino to play with bitcoins.Before making a deposit, do not forget to read the rules of the casino, as well as to find outif you will have to go through verification.