Bitcoin Casinos – Get Stuck in Now
Bitcoins and other cryptocurrency options have really taken hold of the online casino space. There are still plenty of iGaming fans who who’ve never used Bitcoin or its counterparts and wouldn’t even know where to start.
Whether you’re in the first or the second camp with crypto, it’s no harm to learn a little bit about using cryptocurrency for online casino. What the pros and cons are, how you use it and what online casinos using cryptocurrency can offer you.
The Advantages of Bitcoin Casinos
We’re seeing more and more so-called ‘bitcoin casinos’, but they also tend to use other cryptocurrencies and traditional payment methods as well. But what’s the benefit, why do people want to use digital currency to play online?
The first reason, is higher payouts—they can generally offer better payout rates, as there are fewer costs associated with running a crypto-casino.
The second reason, despite some governments looking to regulate crypto and Blockchain technology, is that Bitcoin and its counterparts aren’t an official currency. Therefore, it’s not subjected to fees and charges and other legal implications (i.e. you can even gamble online anonymously in countries where it’s illegal)
And the third reason, cryptocurrencies aren’t routed through traditional banking systems. So, no more waiting three to five business days for a payment to clear, cryptocurrency payments are almost instantaneous.
What are the Disadvantages of Bitcoin Casinos?
There are some reasons people might not be inclined to use Bitcoin casinos, one issue is trust. As Bitcoin and cryptocurrency isn’t regulated, it’s understandable that crypt-currencies may not be as well-regulated as other online casinos.
We recommend that if you’re considering playing at a Bitcoin casino, just do the research. Make sure it’s regulated, check their licenses and read some online casino reviews.
New to Bitcoin Casino?
Ok, here’s where it can get a bit tricky. Getting started with cryptocurrency isn’t as straightforward as signing up to an e-wallet. You’ll have to get a Bitcoin wallet, which is essentially more like a secure “window” into the Blockchain so you can view your records and transactions. The Blockchain is defined as the digital ledger where transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly. If all this sounds a little overwhelming, there are hundreds of online resources to guide you. So, just do your research. Here’s a good one to get you started.
Which Bitcoin Casinos are Good and Why?
Let’s say you’re itching to try a decent crypto-casino, let’s take a look at some good ones. BitStarz Casino ranks very well with punters. Loki Casino also has a great reputation. Then Oshi casino and TonyBet are licensed by the UK Gambling Commission.
Just Go for It
If you’re thinking about trying crypto-casinos, why don’t you give it a shot? Bitcoin and crypto-casinos are popping up all over the place. It just takes a little research, checking licenses and researching how to purchase and use cryptocurrencies. We think you should just go for it.