What is Bitcoin
Bitcoin is usually shortened to BTC and is a digital currency used online. As early as 2009, it began to be used in some US circuits, but it was only around 2011 that the public could start buying bitcoins. Unlike traditional currencies such as dollars, euros or pounds, there is no central bank regulating the market or putting a value on a bitcoin. BTC is traded between individuals and the price fluctuates much more than a regular currency.
Today, bitcoin is used in thousands of contexts every day. Despite the fact that the currency has received much criticism, its popularity among its users has only increased. A receipt for this was when the company Dell Computers allowed its customers to pay with bitcoin. After that, other well-known companies like eBay, PayPal and Amazon have followed.
Here’s our recommended bitcoin casinos!
BITCOIN ONLINE CASINO
A big advantage for us who use bitcoin is basically all transactions are free. If we make a payment by credit card such as VISA or Mastercard, a fee is always added. Sometimes the casino pays for that cost, sometimes us players to pay the transaction fee ourselves. Similarly, it works when using Neteller, Skrill and PayPal. These services are flexible, but expensive to use.
These costs are often hidden for us players, but you can rest assured that in the end, it’s always our customers who get paid for all the extra charges that the casino sites have. If we want to pay with BTC, it is sent via so-called bitcoin addresses. A bitcoin address is a form of code of between 27 and 34 characters. Transactions are instantaneous, as there is no manual bank that has to approve the transfer.
WHY USE BITCOIN?
There are many reasons why Bitcoin is growing ever bigger. In the gambling industry, we will soon see an explosion of bitcoin online casinos. The biggest reason have already been mentioned. BTC is free to use, something that online casinos will love. A bitcoin deposit is free the same as a BTC withdrawal is free. Instead of wasting money on transaction fees, casino sites will be able to offer bigger bonuses and better casino offers to their customers.
Using bitcoin for online games opens a lot of doors. Bitcoin is not owned by any state and therefore can not be frozen as assets can be made in other currencies. For us, who live in Europe, this may play less role. However, if we want to play in the United States or play in a market that is otherwise regulated, BTC casino makes this possible.
Bitcoin means absolute freedom and control over your money. Do you own a bitcoin, you own it, nobody can take it away from you. In addition, you are anonymous when you play, meaning you can play anywhere and you pay no taxes for your winnings. At a BTC casino, you do not need to provide a name or social security number. All you need to leave is your email address, a username and the password you want. Everything goes fast!
TWO TYPES OF BITCOIN CASINO
Bitcoin grows so it’s cracking and more and more users begin to see its benefits. Despite this, BTC turnover is only a fraction of traditional currencies so far. VISA and Mastercard are still by far the biggest. On the internet there are different types of btc casinos. Secondly, there is online casino that only takes bitcoin in currency. This type of bitcoin casino is the most common.
At these casinos you can only play in the bitcoin.
The other variant of bitcoincasino is hybrids, where you can deposit money with BTC, but you can also deposit money via credit cards, Neteller or PayPal. As a customer in a bitcoincasino, we can both withdraw and deposit via BTC.
For those who still prefer to use regular money, either try to find a hybrid casino where that’s possible. We’d suggest taking a look at Bitstarz – which is a hybrid casino with focus on BTC. By signing up with Bitstarz you will also receive 20 free spins without any requirement for deposit.
At lower costs, a bitcoincasino may have a greater distribution of its revenue. This means that our customers can more and more benefit from the profits! A nice deal for all without credit card companies! From the periphery, the number of BTC casinos has increased steadily. In the same way, the range of games increases. Game developers like Microgaming, Playtech and NetEnt have also found out among the BTC casino games. Why not play at a casino that has better odds, lower fees and where it’s free to both withdraw and deposit money?
Amongst the casino games we will find the usual selection of games. What would be a casino without slot machines?
If you choose any of the famous BTCcasino, there are hundreds of slot machines to choose from. Several classic slot machines have been launched with BTC and amongst the games there are both common jackpot games and games with progressive jackpots.
BITCOIN LIVE CASINO
For the card games – there are blackjack tables, both virtual and live casino form. Playing a bitcoin live casino means that you get a real dealer to the table. You play with real cards and follow the whole table via a video stream. Of course everything happens live. This is perfect if you want a dream getaway to Las Vegas but still don’t want to leave the comfortable sofa.
Via live casino you can also play roulette and sometimes baccarat. Roulette, together with blackjack and slot machines, is the core of a casino. Perhaps roulette is even “the casino game” because the roulette wheel is generally only available at the casino, while slot machines can be placed a little bit anywhere, not to mention how easy it is to play blackjack at home.
BITCOIN CASINO CREDIBILITY
Within BTC, all information is public. To increase the confidence of BTC, something has been created called “Provably Fair Casino Gambling.” This means that by entering the game ID code in an instant, you can verify that you got the right odds. How this technique works is a bit difficult to explain on a few lines. In simple terms, all transactions with bitcoin are stored in so-called “blocks”. By analyzing these blocks of information, however, creating a 100% basis to calculate whether or not you got a bad deal.
If you felt cheated at any time by casino, it seems like the odds are not at all what the casino gives them to be, then you should start playing with bitcoin instead. Who has not sat at a poker table and knows that the game must be rigged. With bitcoin poker you could easily check this out afterwards. The analysis takes place immediately and here is the BTC’s safety light years before traditional casinos where it can take both days and weeks before you get a result. In BTC casino you can study individual hands as well as individual games, which is virtually impossible at a regular casino.
To summarize this first page. We have only seen the beginning of bitcoin so far. BTC will revolutionize the gambling industry at the expense of credit cards and other payment methods. Who wants to pay extra money for something that can be free? By playing with BTC new doors are opened. Pick your winnings directly in the bitcoin and trade with them on famous trading portals like eBay or Dell Computers.