It’s been two decades already since online casinos became popular worldwide. Since the 90s, a lot has changed. There are thousands of online casinos, each with its unique features and games, to choose from. However, technology has dramatically improved, and now, we have Bitcoin online gambling.
By the way, cryptocurrency gambling is not particularly new, but the technology is still in its infancy. The first successful cryptocurrency, Bitcoin, began in 2008, and then other forms of cryptocurrency emerged.
From there, online casinos began to adapt, and now, we have a whole new story. You can find online casinos today that are purely Bitcoin-based. Bitcoin has gained immense popularity, and more businesses and people are investing in it.
We will share everything you need to know about Bitcoin online gambling so that you can transition well without any difficulties. If you want to know how to gambling with Bitcoin, this guide is for you. Let’s begin.
The Basics Of Bitcoin Online Gambling
Bitcoin is the first digital money system spread worldwide. That means Bitcoin doesn’t use any physical items such as coins or bills. It’s stored online in digital wallets and helps you trade on Bitcoin or BTC exchanges.
Having a Bitcoin account is like having a bank account. You can use the money stored there to purchase stuff or transfer it to other people’s wallets. The primary difference is that you can’t withdraw Bitcoin physically. But you can exchange it for traditional currencies such as the U.S. dollar, Euros, etc.
Bitcoin stems from a decentralized blockchain system, which means it’s anonymous and transparent simultaneously. These two combined are why Bitcoin has been so successful and popular.
Other Forms of Cryptocurrencies
Of course, the first thing you’ll need in Bitcoin online gambling is some cryptocurrency. Bitcoin is the most prominent and popular choice because it’s accepted worldwide. However, several cryptocurrencies such as Litecoin, Ethereum, and Ripple that some online casinos accept.
You can purchase cryptocurrencies in different exchanges faster and easier with debit or credit cards. You’ll need a crypto wallet to store your coins. A crypto wallet is where your private and public keys are kept.
The private or public key refers to your wallet address, and other people can use it to send you cryptocurrencies. You must keep it safe at all costs because, without it, all your cryptocurrencies will be lost.
Crypto wallets fall into one of these five categories:
Usually, the exchange where you buy your digital coins will have a wallet, but they don’t allow gambling transactions. For online gambling, we recommend using a desktop or mobile wallet. It’s the best choice. However, you can do your research, choose the one that best suits you, and always keep security in mind, including ease of use.
What Types Of Bitcoin Online Gambling Platforms Are There?
The first Bitcoin online gamblings were basic. They provided stuff such as dice or casino games that are easy to develop. Years later, you can find almost anything you need right now. There are plenty of online casinos that have integrated Bitcoin.
So you can play numerous casino games from the popular online casino software developers such as NetEnt, Microgaming, PlayTech, etc. Also, as said earlier, you can find only Bitcoin-based casinos, and they usually come with their unique games.
Poker is another online gambling product popular out there. You can find hybrid poker rooms that accept both traditional payment options and Bitcoins. Other poker platforms are strictly crypto-based.
Provably Fair Bitcoin Online Gambling
One of the primary reasons why numerous casino operators work with Bitcoins is the chance to create provably fair games. It’s part of the blockchain technology, and it verifies the fair play of each spin or deal or anything related to gambling.
It assures you that the online casino is not cheating you. Provably fair gambling is ideal for both the operators and the players. It increases the reputation of the casino business, and players get the assurance that the casino is a reputable one.
Choosing A Bitcoin Online Gambling Site
There are two primary forms of cryptocurrency casinos you can choose from. We talked a bit about it in the previous section, but we’ll go deeper in this section.
These are online casinos businesses that only accept cryptocurrencies. These casinos usually have specially designed games not found anywhere. If you’re the type always searching for new games to play, crypto-exclusive casinos might be ideal for you.
These are online casinos that accept both cryptocurrencies and traditional forms of payments. It’s a regular online casino, but you can deposit and withdraw various cryptocurrencies.
Now, in choosing a cryptocurrency online casino, the criteria are the same in selecting any online casino. Let’s go through them.
If you want to enjoy your favorite games without worrying about whether you’ll get paid, choose licensed Bitcoin casinos. Keep in mind that some licensing authorities are better than others. Some authorities ensure that casinos licensed under them are strictly monitored to ensure the safety of their customers.
2. Banking Options
The online casino you choose must be able to accept your preferred cryptocurrency. Of course, if they allow it in their casino. You also have to know if you can withdraw using cryptocurrencies. Some casinos allow you to deposit in cryptos, but you can only withdraw in traditional currencies.
Furthermore, find out if there are any extra fees for any deposit or withdrawal you make using Bitcoins and other cryptocurrencies. Lastly, check the minimum and maximum deposit and withdrawal limits of the online casino.
If you get a big win, you don’t want to be withdrawing a few thousand dollars a week. That’s why it’s essential to take your time to find an online casino that’s suitable for you.
3. Casino Games
When it comes to online casinos, there are thousands of games to choose from. It’s better to choose from a wide variety of games. Some casinos convert cryptocurrencies to fiat currencies or tokens before you play the game.
Other online casinos give you the option to play with the actual crypto. Most players prefer to play with crypto because it’s probably fair. And remember that only provably fair casino games can verify outcomes using a cryptographic hash function.
Numerous casino game developers, such as NetEnt, Microgaming, Pragmatic Play, etc., have developed games specifically for cryptocurrency.
Numerous Bitcoin online gambling sites encourage players to use cryptocurrency by offering bonuses and promotions mainly aimed at crypto players. The bonuses vary depending on an online casino.
The most common one is the matching bonuses that give players extra coins based on their deposit amount. Some crypto casino sites offer a sign-up bonus for registering. However, before you accept any bonus, make sure you check the terms and conditions not to disqualify yourself.
You have to check if the site is compatible with your operating system. A good and reputable site should work well with Macs and windows, including Android and iOS operating systems. In general, a good gambling site is optimized for mobile or has an app.
Through the app, you can download and play various casino games.
Numerous advantages come with Bitcoin online gambling. However, it can be intimidating if you’re pretty new and possibly give up on the first try. But if you use cryptos in your gambling, you are much safer compared to traditional casinos.