Bitcoin Casino a term you must have heard during discussions at a party or gatherings simply refers to casinos that are open to taking deposits in cryptocurrencies like Bitcoin too with fiat currency like UD Dollar. Although there is much more that goes on inside a casino than games that make you rich, all of which we shall read as we proceed. There are exhibits to look at in Bitcoin Casinos too.
What is Bitcoin?
Bitcoin is a cryptocurrency that was launched in 2009 for a limited circle but went on to be used by everyone as a digital payment method. There is no central bank or other financial institution that controls the currency, but all control takes place directly in Blockchain.
The value of a bitcoin varies over time and largely depends on the successes or setbacks of the cryptocurrency market. This means that the value of your bitcoins can go both up and down while you are playing at a casino. If you are lucky, you can get an extra boost in your profit when the value goes up,
Bitcoin is regulated and controlled in Blockchain, which means it is a secure currency. All transactions are anonymous, although it is possible to trace transactions to a specific address, which, however, does not contain any personal information. For this reason, the currency has gained a bit of a bad reputation for being used by shady people who do not want to sign with their money or divulge their identity.
Bitcoin, one of the most searched, researched, and talked about topics in the past few years. Bitcoin is a cryptocurrency. There are so many nicknames for this not-so-new magic money like ‘digital gold’, ‘paperless money’, ‘e-money’, etc. Bitcoin has taken the world by surprise today but in 2008 when we first heard about it, Bitcoin was just an idea.
History and working of Bitcoin
A paper was published on the Internet with the title ‘Bitcoin: A Peer-to-Peer Electronic Cash System’. It was published by a pseudonymous person or group of people with the name ‘Satoshi Nakamoto’. This paper explains how and why Bitcoin is a better currency than paper. The paper talks about Bitcoin being decentralized which means that it is not governed by an administrator. All of the transactions that are made will be stored in an open and public ledger. The copy is on the system of everyone in the Bitcoin network and people who run these networks are called miners. Miners do the herculean task of verifying the transactions. The transactions make a block and that is why this technology is called the blockchain. This system is called ‘proof of work’.
The first block called the genesis block was mined on 3rd January 2009 and that led to the launch of blockchain. The first test-drive transaction took place a week later. Initially, it was just miners playing with the blockchain, doing transactions to prove, check, and validate. There was no real monetary value of Bitcoins at this time. On May 22, 2010, Bitcoins got their first real monetary value when a man bought two pizzas of $25 for 10,000 Bitcoins.
Following this people started using Bitcoins to purchase goods from over the Internet but the value of Bitcoins was arbitrary. Other networks were built by miners in 2011 like Ethereum. In 2010, when Bitcoin became available on exchanges the world changed. It became easier to buy, store and sell. Bitcoin went from ‘lower than cents’ to $20,000 in less than a decade.
What is Cryptocurrency?
Cryptocurrency is a digital asset. Bitcoin, which you read above is one of the many cryptocurrencies that exist today. A cryptocurrency is not ruled by any bank, government, or administration. Cryptocurrencies can be used to purchase goods and services and cryptocurrencies can also be used to invest. It is an asset that is growing by leaps and bounds in today’s time but it is always safe to read, analyze and understand before using it. Cryptocurrency works on blockchain technology, read further to understand it.
What is blockchain?
Blockchain if explained in layman’s language can be referred to as a ‘check book’ that is given to n-number of computers all across the world. The transactions that take place are recorded in the form of ‘blocks’ and are linked with each other to form a ‘chain’, hence, a blockchain. This is the main technology behind cryptocurrencies.
What is Bitcoin Casino?
Online Casinos and sports betting agencies that accept bitcoins (either in preference or alongside) and fiat currencies like the US Dollar are called Bitcoin Casinos. Bitcoin Casinos have many nicknames, one of the most popular ones is BTC casino. Bitcoin Casinos have regular games that you will find at a casino and also a lot of tailor-made games for entertainment all the time. BTC casinos have sport-based betting games, online lotteries, etc. Bitcoin Casinos have their own abbreviations and slang going on, like a lot of BTC casinos used the term ‘mBTC which refers to one-thousandth of a Bitcoin.
Working of Bitcoin Casinos
Bitcoin Casinos work almost like a regular casino the major difference is the use of bitcoins rather than fiat currency like the US Dollar. Most Bitcoin Casinos operate similarly to their ‘traditional’ equivalents, with the exception of the method of exchanging or ‘cashing out’ Bitcoins after a profitable or unsuccessful bet.
Bitcoin casinos usually provide new registrations with an in-house wallet to which users can pass Bitcoins if they want to take a risk. When placing bets in the casino, the user’s deposited funds are used to facilitate the game. Typically, a user places an initial “bet” from their pocket, and depending on their progress in the game, they may lose or benefit from that amount.
Profits are returned to a user’s in-house wallet after a game is completed. From there, a user can request a transfer to their personal wallet at any time; however, most casinos impose a withdrawal cap to discourage users from withdrawing all of their funds at once. Before playing at an online casino, it is a good idea to read the terms and conditions thoroughly.
Why is Bitcoin Casinos so popular?
With the rise of Bitcoins and the growth of BTC casinos, everyone is investing, using, and doing all sorts of activities with digital gold. One must always stop and assess from time to time about this growth. We now live in a fast-paced world and with this pace comes thrill, below mentioned are the reasons for the popularity of Bitcoin Casinos that have grown at the same pace:
- Best for fast transactions
- Super safety of users
- No more demographic bondage
- Jackpot Season
One of the major reasons for the popularity of Bitcoin Casinos is the speed of deposit and withdrawal. Unlike the regular Casinos, BTC casinos do not deal with banks so there are no million-steps-process and the tiring wait of transactions to be fulfilled. Bitcoin Casinos take a few minutes while banks can take up to days for depositing and withdrawal of funds. No one likes a lazy bee! Not just the speed but also the possession of all your assets is in your own hands when you play at BTC casinos.
Safe for users
When you play at a traditional Casino, transferring, depositing, and withdrawing your bet and win through your bank, gives the fraudsters a very big chance to take your profit away. This does not happen at BTC casinos. All your funds are safe every second while you transfer, withdraw or deposit the Bitcoins. None of your card or bank details are leaked to any site, leaked is an exaggeration as none of this is even mentioned.
No restriction of location
A lot of locations do not allow you to play casino games if you are using real money, BTC casinos are your one-stop solution for that. Virtual money is not restricted through geolocation and thus plays on! Not all centralized institutions are modern enough to allow people the freedom of playing at casinos and it is very frustrating, but playing at Bitcoin Casinos cannot be restricted as it is virtual money. Though, as you strive to live with more freedom playing at BTC casinos, try and not break any rules!
Bitcoin Casinos are comparatively new to the gambling world as compared to traditional casinos so BTC casinos are still working on schemes and advertisements to attract more and more people. One such scheme that works heavily in favor of people willing to play at Bitcoin Casino is the rewards and bonuses offered by BTC casinos. A lot of these Bitcoin casinos offer double chances to win which is an alluring offer.
Like, mentioned-above that such Crypto casinos let the player remain anonymous even while transferring funds, which always works in favor of anonymity and the fact that cryptocurrencies are decentralized helps you escape the surveillance eyes of the government.
Best Bitcoin Casinos 2021
How does one choose a BTC casino to play at? Are Bitcoin Casinos even legal? Is the BTC casino you are playing at even licensed? These are the very first questions that pop up when one thinks about playing and depositing at BTC casinos, keep reading and I will answer all of your queries after suggesting you the best Bitcoin Casinos.
- Casino btc
- Bongo Casino
- Golden Crown Casino
- Casoo Casino
- Spin Million
BetWinner is an unlicensed Bitcoin casino that was founded in 2018. Despite the fact that it is listed as an unlicensed gambling website in Germany, Holland, and the Nordics, the operator holds a Curacao license, allowing players from this area to register, demand large bonuses, make deposits, play real money games, and win big. This BTC casino has one of the best sportsbooks around, with a wide range of matches and competitive odds. It has a sizable player base thanks to its variety of poker and lottery games.
Crypto Nation and its subsidiary Stiker Tech Limited, based in Cyprus, have just opened CasinoBTC, a new bitcoin casino. This BTC casino is licensed in Curacao and relies on Bitcoin as a means of online gambling payment. This Bitcoin casino offers free spins without any deposit. Players in Europe can expect lucrative prizes, fun games from top developers, and no restrictions when playing. This Bitcoin casino features games from some of the industry’s most prestigious developers. This online bitcoin casino offers a wide selection of games, including slots, table games, keno, poker, and live dealer games. The regular casino staples, such as blackjack, roulette, and baccarat, were noticeable. It’s not the biggest or greatest game collection we’ve ever seen.
Bongo.gg is one of the web’s newest and most exciting online casinos. With a generous welcome bonus and over 4300 casino games to choose from, you can bet your bongo drums that this casino will rock your world! This BTC casino offers new players a 120 percent match bonus on their first deposit, up to €200 (or 1000 mBTC). A minimum deposit of €10 is expected (or 1 mBTC). In other words, if you deposit between €10 and €167, you can earn a bonus of between €12 and €200. This bitcoin casino has a limited selection of daily and live casino games. This BTC casino has it all, from slots to jackpots, table games to instant games, and live casinos. Bongo Casino, as a Curacao casino, offers a great blend of games from industry leaders as well as lesser-known gems.
Golden Crown Casino
This BTC casino is your best bet if you enjoy playing casino games at places that also offer instant withdrawals. This Curacao-licensed Bitcoin casino offers both traditional and live games and accepts both real money and Bitcoin payments. With Instant Banking, you can make deposits and withdrawals in a flash! This bitcoin casino has a limited game collection compared to the other casinos in the league. NetEnt and Microgaming, two of the most well-known gaming firms, are absent. However, don’t mistake it for a bad pick.
This BTC casino was established in 2012. With a long history, the operator provides a diverse variety of games from well-known providers, as well as a huge sportsbook with over 1000 different sports matches to wager on. Because of their Curacao license, the casino also ensures that their players are pampered with generous incentives and regular promotional deals. Every week, this BTC casino hosts new tournaments with fantastic incentives and prizes. If you succeed in being one of the highest scorers, you will be given free spins to use on the Lucky Wheel slots. Playing your favorite games will win you points. For every €100 wagered, you will receive one point. Winnings are not subject to wagering requirements.
Tsars Casino has had a spotless track record in the online gaming industry, adhering to strict legal gambling age limits of 18+. This bitcoin casino offers a wide range of games, including Caribbean Stud, poker, video poker, blackjack, roulette, and the ever-popular video slots. Evolution Gaming is the brains behind all of these titles.
Welcome to 2020’s newest online casino! Betzino is a brand new casino with a large range of casino games and a generous welcome bonus to get you started. All new customers can get a bonus of up to €1000 plus 50 free spins! Customer service is available 24 hours a day, 365 days a year. The game collection of this crypto casino isn’t the highest or largest. However, it is still a good selection, particularly if you want to get away from the limited options in Nordic casinos. Slots, jackpots, table sports, video poker, scratch cards, and a number of other fun games are available at the online casino site.
Casoo Casino is a lesser-known casino that offers a galaxy of live casino games and slot titles from leading tech providers. Since its launch in 2019, this online casino has quickly become a favorite among European players. Casoo Casino offers games from 35 different tech providers. However, like many other casinos, the primary focus here is on slots, especially those from Microgaming and NetEnt. However, games from Betsoft, PG Soft, and Booming Games are also available.
24Monaco is a non-licensed online casino in the Nordic countries. It also provides betting services without the need for a license. It has a wide game collection and accepts a number of payment methods. This new casino, which opened in 2020, provides real-money gamblers with a mobile-friendly gaming experience. The game collection at 24Monaco is comprehensive and consistent. From top suppliers, the casino offers slots and virtual table games such as blackjack, roulette, baccarat, poker, and keno. A full-fledged live casino section is open, powered by Ezugi and LiveG24. We’re happy to see that 24Monaco caters to sports bettors as well.
Personally, I think they have a very catchy name! This BTC casino is an unlicensed casino that debuted in 2019. Despite being considered an unlicensed gambling establishment in Europe, the operator has a Curacao e-Gaming license. This means that anyone from Germany, Holland, or the Nordic countries will play at Spin Million and benefit from a variety of bonuses. When it comes to game variety, Spin Million is a gold mine. When you arrive at the place, you will be taken straight to the game lobby. Famous games, new games, jackpots, table games, video slots, and finally all games are all available in this section. Of course, if you already know what game you’re looking for, you can use the search tool.
How to choose a Bitcoin casino
Now to answer the most asked questions about the safety of playing at Bitcoin casinos and how one chooses a Crypto Casino to play at, I have mentioned a few points you can take into consideration before choosing a Crypto Casino. Read along and become a safe and smart player at BTC casinos.
- Regulations and licensing of Crypto Casinos
- Support system offered by BTC casino
- Provably fair Crypto Casinos
- The legality of Bitcoin Casinos
Regulations and licensing of Crypto Casinos
This would be one of the main steps in establishing a Crypto Casino’s trustworthiness. The majority of licensed sites will have a connection to their licensing certificate somewhere on their homepage, it can be near the bottom or even on the header, always look for the license certificate before you begin depositing your funds to a BTC casino. It is also very important to check the authority that has granted that license to the particular Crypto Casino. The better the authority of providing a license, the more chances of you not getting duped. In case a mishappening happens and you lose your funds by the fault of Crypto Casino, the licensing authority helps you and returns your fun. It would be useless if the BTC casino is licensed by an unreliable authority.
Support system offered by BTC casino
This step can be tested without even depositing any funds and that’s the best deal of Crypto Casinos. An honest and true Crypto Casino can provide a multitude of support options, including social media, email, and live chat with a representative who is ready to answer your questions right away. This is important because if anything goes wrong with your deposit, withdrawal, or whatever else, you’ll need to contact someone as quickly as possible. My opinion would be to use casinos that have a live chat option.
Provably fair Crypto Casinos
There’s always the concern that the house is cheating when you play at a casino, anyone whether it is a regular Casino or an online Crypto Casino. Of course, this is rarely the case with the more possibly the best casinos, but how can you be guaranteed that you’re having the winning odds you’re likely to get if you go to a less pretty poorly Bitcoin casino site? A credible BTC casino will acknowledge that their “house edge” is necessary to sustain a profit, and therefore will want to show their players that they are not tampering with the results. They do this using a cryptographic-based mathematical algorithm. To make you understand, just know that a Crypto Casino that is provably fair will show that the game you played would give completely random results and no cheating is involved.
The legality of Bitcoin Casinos
The solution isn’t as straightforward as it seems. Regardless of the fact that Bitcoin exists entirely in an electronic medium where information is openly exchanged, certain countries and territories have imposed their own regulatory framework for Cryptocurrencies and Crypto Casino operators. Gambling thus is legal in some territories but not in others. Not only must gambling laws be taken into account; Bitcoin itself may be heavily restricted, if not banned. While there has been a great deal of uncertainty and discussion about the legality and feasibility of Bitcoin, each country has agreed on its own set of laws. Although Bitcoin usually does not circumvent any rules, it does operate in a technical grey area. Though Bitcoin is legal in all but a few countries, it’s plausible that the way it’s used is. There are considerable fears that it would be used to launder money and to acquire contraband.
How to play with Bitcoins at a BTC casino
When you play at a casino that supports Bitcoin, you need an e-wallet that can handle this currency.
- Top up your e-wallet via a trusted online currency trader.
- Choose Bitcoin at your preferred casino to make a deposit.
- You will then receive an address to which you will transfer money.
- Open your e-wallet where you have stored your BTCs.
- Enter the address and the amount you want to deposit.
The money is credited directly to the casino so you can start playing immediately. As it is with most cryptocurrencies, there are normally no fees associated with deposits and withdrawals in Bitcoins.
When you make deposits in Bitcoin, you also play in the same currency. If you win, you’d get your money paid out in the same currency. When you make transactions to and from a casino in Bitcoins, no personal information is included, which means you can make deposits and receive payments anonymously. Therefore, it is a commonly supported payment method at many casinos without a license.
Read below and it is a total copy of a mini-book on all you need to know from how to get a bitcoin wallet to cashing out. I have explained the whole process in the following points.
- Create and fund your wallet
- Play at a BTC casino
- Withdrawal from BTC casinos
Create and fund your wallet
First and foremost: In the world of blockchain technology, you’ll need a Bitcoin wallet, which is similar to a bank account. There are two types of cryptocurrency wallets: those that you control completely and those that are hosted by third parties. You can use these wallets to make deposits and withdrawals, as well as pay for goods. You’ll have to use LocalBitcoins.com or some other crafty method if you want to be untraceable when betting with Bitcoin now. This platform helps you to exchange cash for cryptocurrency by negotiating a price with another person and, in some cases, meeting them in person. If you do not care much about anonymity, Join any trustworthy application that does cryptocurrency exchange!
Activate your account by confirming your email address, filling out your profile, and then verifying your identity after signing up with the application. A valid ID, passport, or driver’s license is required. You’ll also be asked to take pictures of the document with your laptop, tablet, or smartphone’s camera. The procedure is similar to the KYC checks performed by traditional bookmakers.
Play at BTC casino
It’s time to transfer funds to a Bitcoin online casino after you’ve funded your Bitcoin wallet: it’s decision time! You can place bets on Bitcoin casino games without disclosing any personal information, but you can always do so if you want to. However, you should enable additional security measures such as Two-Factor Authentication (2FA) to make things as secure as possible. Otherwise, be aware that some Bitcoin casinos, particularly those offering large signup bonuses, will require KYC verifications.
Withdrawal from BTC casinos
The procedure is straightforward and simple: Make a Bitcoin withdrawal from the casino cashier, using your Bitcoin wallet address as the reference. A top-tier crypto casino, unlike traditional online bookmakers, should be able to process Bitcoin withdrawals in minutes. After that, you’re free to do whatever you want with the money.
However, if you want to withdraw money from your Bitcoin wallet, or convert the balance of your Bitcoin wallet into standard currency, just sell your Bitcoins on a cryptocurrency exchange application and have the money transferred to your bank account.
Wagering Requirements at Bitcoin Casinos
Bitcoin casinos also have wagering requirements tied to their bonuses which must be met before you can withdraw winnings. It is usually around 35 times the amount you received in the bonus. Since a Bitcoin casino usually has lower costs for its transactions, some of them choose to offer their players generous bonuses and sometimes even a higher RTP on certain games.
Is it Legal to Play with Bitcoin?
This is a delicate question to which there is no simple answer. Since bitcoin is not an illegal currency, it is perfectly legal to use it when making payments online. What authorities often get hooked on is that the currency allows both the payer and the recipient to be anonymous. This means that the tax authority does not gain control over the transactions that take place.
Other authorities believe transactions with Bitcoins being anonymous, the digital currency is sometimes used for the purchase and sale of illegal products. However, we refrain from generalizing matters and would opine that Bitcoin transactions at online casinos are still legit.
Please note that most European casinos cannot support Bitcoin or any other cryptocurrency as a payment method because the law requires gambling transactions to be transparent. Such casinos are obliged to identify all signees within 30 days or before their first withdrawal. They must also be able to account for all financial transactions that take place between the casino and the players.
Since Bitcoin involves anonymous transfers without links to any personal information, it is a payment method that is no longer used by the operators that offer casino games under an EU license. Thankfully, casinos without a license aren’t subject to any such law.
Where to play Bitcoin Casino?
When we talk about Crypto Casinos we often wonder what might be the right place or country to play in and to answer these questions here is a list of countries where the status of Bitcoin casinos is legal.
- United Kingdom
Eight states of the USA now allow you to play at Crypto Casino without any run-in with the law because these states have declared Bitcoin Casinos legal. New Jersey, Delaware, West Virginia, Rhode Island, Pennsylvania, and New York along with Nevada and Louisiana are the eight magical states of the USA waiting for you to load your cryptocurrencies and have fun playing.
With the whole world starting to go a little more than crazy around cryptocurrencies and Crypto Casinos how could the Queen’s homeland be left behind. In the United Kingdom, gambling is not really legal, but it is also a major part of the culture. The only part of the agreement for online gaming is that you must be over the maturity of 18. If they have been white-listed by the Gambling Commission of the UK, both UK-based and cross-border companies will offer their services to the UK gambling community.
The country whose accent is said to be the scariest is not behind on being modern too. Basically, gambling is legal in Russia, as state-run lotteries and sportsbook betting are available across the country. Online gaming, on the other hand, was banned in 2017, though poker is still considered a game of skill and thus permitted. Russian gamblers are currently accessing gambling sites via loopholes and safe blockchain platforms.
Pros and Cons of Bitcoin Casino
Every activity, every trend, every new hype like I said needs to be analyzed, and this part of the article right here analyses and states the advantages and disadvantages of Crypto Casinos. Beginning with the pros of BTC casinos here is enough to make you want to play at a Crypto Casino right now.
- Personal information isn’t disclosed when making payments.
- All transactions are usually done immediately and usually without fees.
- There are no restrictions on how much money you can send or receive.
- You can make payments at any time and to anyone, via any device.
Any e-commerce business must make money, and one way to do so is through fund transfers, such as when a customer makes a deposit or withdrawal. Traditional payment methods, as they do everywhere else, come with high fees at online casinos. Blockchain transaction fees are far lower than those charged by traditional methods, allowing you to retain more of your winnings than you would at a traditional online casino. You will play for longer if you have more money in your pocket.
The fact that virtual currencies like Bitcoin are decentralized is one of the benefits we like best here at Crypto Casinos. This ensures they have no ties to governments or banks, allowing you to maintain full control of your funds. No other body or person authorized or watches over your funds and that is why your cryptocurrencies are the safest way to play at Crypto Casinos. They can’t be blocked, and you can’t get your account frozen. Not just that, but you can move your funds to a crypto wallet when playing at a bitcoin casino without anyone learning.
Another benefit of cryptocurrency is its lack of secrecy. The fact that your transactions are transparent thanks to the public ledger is an example of how this is especially useful. This means you can show you made a deposit and check that the bitcoin casino processed your withdrawal.
Since Bitcoin is pseudonymous, personal information is kept private in the transaction. Yeah, anyone can see the change, but only a section of it is visible. Some Crypto Casino sites have totally anonymous accounts, enabling you to play your favorite games without sharing any personal details.
Acceptance is worldwide
One of the aims of cryptocurrencies is to provide a global payment system free of bank or government intervention or control. Without this national and institutional regulation, Bitcoin or any other cryptocurrency would function indistinguishably on all Bitcoin gambling sites, regardless of where you live.
It is important to look at both sides, assess both the pros and cons, so below mentioned are some disadvantages of Crypto Casinos.
The value can fluctuate greatly, which means your winnings can quickly lose or increase in value. If you lose your e-wallet where you manage your cryptocurrencies, they are gone forever. You should always make a backup of your e-wallet every time you use it.
- Volatile nature
- No going back
- No recourse
One of the characteristics of cryptocurrencies is their volatility, which can result in major price fluctuations. While this can be helpful in certain situations, such as when the value of Bitcoin grows, it can also work against you. When you play in BTC at a Crypto Casino, the uncertainty only affects you when you convert your coins to fiat currency. If the platform you’re playing on converts your coins into fiat currency, the value of your coins may be lost in the process. On the other hand, you might find that they appreciate their value. I personally like to believe it is a guessing game, though one may not always have a good end to such risks.
No going back
The funds have left your wallet once a transaction has been verified. So, unlike a credit card, you won’t be able to chargeback or reverse the charge if there’s a dispute with the casino. This is only one of the many reasons why you should only play at a reputable Crypto Casino.
Since no one owns the blockchain, you’ll have a hard time having a dispute with a transaction resolved. While either your wallet provider or the crypto casino may have some degree of customer service, they have no control over the blockchain. Furthermore, if the funds in your crypto wallet are stolen, they will be untraceable and you will have a small chance of retrieving them. We see it this way: it just serves to reinforce the importance of using a good crypto wallet and ensuring that your funds are properly safeguarded.
If you have reached here, then you are prepared to go and earn your fortune at your desired Crypto Casino. Have fun playing at any of the bitcoin casinos that you find on our list.