The Lowdown on Crypto-Currency Gambling

Online casinos boosted by the virtual currency of Bitcoin allow users to play dice games, slots, table games like poker, and sports betting. Internet gambling usually uses credit card systems but not without charging hefty deposit and withdrawal service fees. With Bitcoin, however, this is not the case.

Accepting Bitcoins

Online gambling has very much opened up to Bitcoin with open arms because the transactions are irreversible, instant, safe, and secure. This also allows the users of Bitcoin to remain completely anonymous in their transactions. On the plus side, global trade significantly increases.

It is not a requirement for Bitcoin casinos to be licensed even though many of them already are. Federal governments treat Bitcoins as commodities rather than real money. The US has several laws in place regarding online gambling but the laws differ between states. On the other hand, the United Kingdom and most of Europe are not as strict about the matter.

How To Choose a BTC Online Casino

Firstly, you need to check the casino’s account restrictions as well as whether the withdrawal fees are low or high. Most importantly, you need to do your research and make sure your chosen online BTC casino has a high credibility rating.

You can deposit your Bitcoins from your e-wallet to the casino’s wallet at which point your account will be credited. Withdrawals of Bitcoins are done in increments to decrease withdrawal fees.

BTC Provably Fair Games

Provably fair means a game’s fairness is verified with the integration of a cryptographic record. This refers to novel block-chain games. Examples of these kinds of games include Dice, Satoshi Mines, table games, sports betting, and slots.

The Dice game is not referring to an actual dice though. It’s a bit more complex but fun nonetheless. Satoshi Mines is based on the Minesweeper game.

Online Casinos with Provably Fair Games

There are so many online casinos which offer these kinds of games. A few of these include FairProof, Coinroll, BitBet, PrimeDice, BitVest, and BetMoose.

Always remain vigilant about phishing and scam sites which can disguise themselves really well. Follow the guidelines we’ve provided so as not to fall into the trap of fraudulent activities.

Leave a Reply

Your email address will not be published. Required fields are marked *