There is little denying that Bitcoin is currently the most popular cryptocurrency available on the market. With more than 2.5 million users and an ever-growing community, Bitcoins’ popularity is rapidly increasing –and there are little to no signs of stopping this progression. Despite mild or more significant scares relating to market fluctuations at the beginning of the year and during the past couple of months, predictions seem to indicate that Bitcoin’s value could rise in the near future.
When discussing online gambling, it’s safe to say that for many years there has been a stigma of duplicity, criminality and immoral standards of conduct associated with it. In fact, depending on where a person resides, specific laws are set in place to prohibit individuals from engaging in online gambling –be it sports betting, virtual casinos, or even prediction markets.
Cryptocurrencies are also carrying this stigma, at least in some countries, and current bans imposed over the world are living proof of that. Nonetheless, this has done little to nothing in stopping gambling platforms from surging. The utilization of blockchain technology has allowed users to disrupt the existing paradigms –however, this is where a grey area of ethics emerges.
Don’t fret though! There are multiple sites which provide evident proof that they are running legitimate Bitcoin or similar altcoin environments (i.e., provably fair games, otherwise known as P.F) –where provably fair means that the odds are not overwhelmingly stacked against players. Of course, this is just one significant advantage of decentralized gambling over conventional money-grabbing casinos.
The difference between a Bitcoin casino and a decentralized casino
You are already aware that online casinos typically use your bank account or credit card as a means for conducting transactions. This explains why when you usually register at an online casino you will be immediately asked for your bank or credit card account.
However, nowadays you have the option of using a different system, a decentralized system which doesn’t make use the two. Instead, it relies on Bitcoin or other altcoins. To better put things into perspective, a Bitcoin casino is a decentralized casino which uses Bitcoins as the primary payment option (i.e., Edgeless, Funfair, or Wagerr). In a simmer way, an Ethereum casino would use Ether as digital currency, and so on.
If you already love this system and its implications for online gaming, you’ll be pleasantly surprised: some might even say that decentralized casinos are the future of online gambling. There are multiple reasons for this statement, including the plethora of benefits offered to both service providers and players. After all, technology is changing with each passing day. New inventions and innovations are coming up to match it.
Additionally, the internet as we know has also experienced a substantial amount of change since big gambling players have moved their habits to the online infrastructure. This is where blockchain technology comes in and changes everything we know. Because blockchain has managed to transform the multi-billion dollar industry, an increasing number of players across the world have turned to the internet for their gambling needs and wants.
We briefly mentioned the benefits of a decentralized casino, but we had not gone into specifics. To better clarify, the first advantage is that gambling can become more transparent when using blockchain technology. Discussing transparency, we are referring to being able to see every and all sums, bets, transactions, and more. Another benefit is that games will be safer and fairer –shying away from rigged ‘opportunities’ which would otherwise put off some players.
Other benefits include the following:
- You can maintain your anonymity
- Rich game selection
- Transactions are free of charge and reasonably instant
- It’s incredibly easy to get started
- A wide variety of operators are both reliable and safe
Bitcoin gambling purely means using Bitcoins as the primary means of online gaming, and it’s great since the altcoin is continually pushing towards making its customers happy. Although it is evident that Bitcoin gambling is not without faults, we can at least take solace in knowing that there is a decentralized system –one that is forever looking for ways to improve its operation.
With the help of Bitcoin currency, online gambling is made readily available to investors of the cryptocurrency. In fact, according to BTC’s official website, users will be able to play games which are supported by the Government. Of course, Bitcoin gambling is not fresh news. However, the approach taken by the creators of the digital asset is relatively unique and makes exchanging more accessible and more comfortable –even within a short period of time.
Top 5 Bitcoin casinos
1. Cafe Casino
According to numerous reviews, Café Casino features some of the most generous Bitcoin bonuses new players can make use of. New players seem welcomed with open arms, as the Bitcoin casino offers rewards up to 5 Bitcoins, and even more.
Moreover, considering that there over 300 games to choose from (i.e., video poker, baccarat odds, blackjack, online slots, roulette, etc.), we can see why such a high number of players are smitten with the service.
2. Jackpot Wheel
Jackpot Wheel is yet another immersive casino from the Funky Fortune group. Offering new players up to 50 free spins on their slots game there’s plenty of opportunities to try out different games and find your cup of tea.
The Bitcoin casino is owned by Genesys Technology, a business with an outstanding reputation and licensed for operation in Curacao. In fact, the company is well respected, and it has built a solid reputation that new and seasoned can trust.
While both classic slots and video games are exciting gambling opportunities, the five-reel games are the ones that get the most attention from players. With attractive 3D slots and excellent gameplay values, Jackpot Wheel is one of the best casinos to try. There are also several dozen bonus features, general feels, and themes to make your experience as exciting as possible.
3. Bovada Casino
Bovada is a name well-recognized among casino enthusiasts. Having been in operation for over seven years and now accepting Bitcoin as a payment method, this industry giant allows players to cash out Bitcoins at any time seamlessly. Moreover, BTC payments and transactions appear much more efficient and faster when compared to the conventional fiat currencies we know about.
Their gamin scene attracts large numbers of gaming enthusiasts each year, offering slots, horse racing, and sports betting – a trusted source of gaming entertainment for hundreds of thousands of players looking for an immersive platform.
4. Jumbabet Casino
JumbaBet Casino launched in 2016 under the Funky Fortune Brand –similar to Jackpot Wheel. There are numerous games to choose from, in fact, hundreds of mobile-friendly casino games which accept Bitcoin as the payment methods.
To top it all up new players are eligible to receive a $25 free bonus with no deposit required. Moreover, additional match deposit bonuses are available up to $1,200.
5. Mandarin Palace
If you’re looking to experience the elegance and distinct atmosphere of a modern Asian casino, then Mandarin Palace could be an excellent place to start. This Bitcoin casino is big on offering new players various incentives to love their online gaming –giving away 64 free spins without any required deposit. There is also the discretionary 166% match bonus up to $266.
Needless to say, Mandarin Palace Casino is one of the most popular Bitcoin gambling sites in Asia, and now it’s making its way into the hearts of Europeans and Westerners as well.
Casino bonuses for Bitcoin casinos
Similar to standard online casinos, Bitcoin operators have a habit of treating new and loyal customers with a wide range of casino bonuses & promotions. While it’s true that newbies often get pampered with generous free spins, bets, and sometimes even tokens, loyal members are definitely given the VIP treatment –often being showered with free spins, coins, and other benefits. Alternatively, you may find that casinos offer numerous bonuses including doubling your first Bitcoin deposit while on their site, but it will depend on the Bitcoin casino you choose.
Of course, there is the option of no deposit bonuses. Just like its name implies, this particular incentive relates to the fact that you won’t need to pay any form of deposit to surround yourself with all the games you choose. Another way of looking at it is as a free Porsche car ride, or test money –which you can use to wager on games available in the casino. Nonetheless, remember that you often need to be a brand new member to benefit from this bonus. After all, it pays to be the new kid in town.
One thing to note is that Bitcoin casinos with no deposits are not yet as prevalent in the Bitcoin gambling niche. But as they say, don’t knock it ‘til you’ve tried it, as this is a bonus pack which should not be missed for the world. While the amount in your account will not be as significant as you expect or want, it’s an excellent way to get started in checking out which games are to your liking or not. Moreover, you’ll be able to tell how comfortable you feel with a particular piece of software, or whether you’re excited about other promotions offered by one Bitcoin casino over the other.
Advantages of the Bitcoin No Deposit Bonus
The structure of the no-deposit bonus gives players power over the ‘house.’ Amongst the most significant benefits, we can note that you:
Can play with less risk
Considering that the funds you are using during the Bitcoin casino games do not belong to your digital asset, then losing a couple of rounds will not reflect poorly on your overall bankroll.
Start your winning streaks
It’s incredible how quickly you can boost up your funds by collecting winning from early giveaways –which could set the mood for you playing and winning even more Bitcoins and jackpots.
Assess software, games, and casino
It’s imperative to know what games you like and are good at before investing your hard-earned cash. In other words, you have the opportunity to try out and evaluate even whether a Bitcoin casino fits your gaming style and needs. Of course, if the particular site you’re using fails your expectations, you can also go out and look for another –after all, you’re not leaving any Bitcoin deposits behind.
Enjoy new-player incentives
Few things are more exciting than getting pampered, and with the no deposit bonus this is precisely what you’ll get. Many promotions and other rewards are waiting for your after you place your deposit, so go on and enjoy yourself.
Bitcoin casinos offering free spins
Free spins are merely another incentive provided by decentralized casinos. For example, PlayAmo offers 50 free spins and over 200 USD bonuses when first registering. Similarly, iGame offers a staggering 450 free spins for when you open an account, whereas with Mr. Green you get 20 free spins on the famous Starburst.
However, before you get excited and claim any promotion, we strongly suggest reading the terms and conditions attached to that promotion. As a general rule of thumb, there will be so rules regarding max and min bets, cash-out options, time frames, and wagering requirements.
How long does it take to deposit and withdraw?
This is an excellent and highly asked question when it comes to digital assets. Gaming enthusiasts will be impressed to know that depositing and withdrawing money using Bitcoin casinos is incredibly fast.
Among the first things to note is that you can quickly log into your casino account and copy the hash code you would have received. Afterward, you can log into your e-wallet and copy paste the code in the field named “send Bitcoins.” Press confirm and witness how your money will, almost magically, appear in your balance after a couple of seconds.
As for cash-outs, head to your e-wallet and copy your unique hash code address. Once that is done and dusted, go back to your casino website and process your withdrawal by pasting your hash code in the box. Confirm and enjoy your hard-earned entertainment money!
Of course, we can’t always guarantee that this will happen at the speed of light. More substantial amounts of Bitcoin could take up more time –due to security protocols and money laundering regulations. They could be pending for a more extended period, but once the dust is settled, the funds will be cleared and ready to be spent on anything you want.
Why Bitcoin Casinos Are Better than Traditional Online Casinos
On a final note, we can’t help but share why Bitcoin Casinos are going to change the world for good. While the digital asset has seen its fair share of challenges and controversies since its inception, in time, it has become an accepted alternative to traditional currencies. Institutional investors have started receiving the altcoin in lieu of conventional money, which is excellent news for cryptocurrency investors around the world. Moreover, there are certain advantages to the field of online gambling, including the following:
No Need for Credit Cards
As a general rule of thumb, gambling sites and online casino will ask for credit cards or other similar types of payment system –all in order to place your bets or collect an amount you have won. However, not everyone has access to a credit card. By comparison, online payment facilities and digital assets such as Bitcoin are becoming a staple for people around the world.
Security Measures and Confidentiality
Bitcoin furthermore addresses the security and regulatory concerns associated with payment schemes and other payment options adopted by standard online casinos all over the world. Another important feature is that Bitcoin casinos offer anonymity and confidentiality, which is far more of a concern than with traditional online casinos. With decentralized casinos, you play without even divulging your real name, as there is no need to reveal your true identity.
Of course, this can also be seen as a significant disadvantage, since there are more chances that money laundering schemes can happen. To prevent that, however, Bitcoin casinos tend to have more secure transactions, and crypto transactions are just inherently secure. It’s ultimately up to the users to properly secure their Bitcoin wallets.
Possibly the most exciting and appealing characteristic of Bitcoin casino is that they don’t involve any fees for withdrawing or transferring funds. When using credit cards or other modes of online payment, you would typically need to prepare yourself for a hefty transaction fee –which, over time, could accumulate to a significant amount of money.
No third parties and their commission charges
The second biggest advantage is that Bitcoin casinos do not involve any third parties and their commission charges, which is precisely what Bitcoin’s founder, Satoshi Nakamoto, had planned.
Due to this, transactions are much faster than with conventional casino, and withdrawals take significantly less time –since the process of dealing with complicated and slow means of transfers are ultimately bypassed.