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On this page, we just want to talk a little bit about some of the stuff that we aim to do here. We are going to assume that you already have some inkling about what Bitcoin actually is.
Let us give you a quick overview, though. Bitcoin is a cryptocurrency. Casino games rock my boat. I love them all and have a special soft spot for blackjack.
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Bitcoin poker is one the greatest things to happen to the game of online poker in recent years. Bitcoin poker still has plenty of fish in the sea.
Sports betting fixes all that. First, you need a wallet to store the bitcoins you buy and win. For storing your BTC the obvious choice is Blockchain Wallet , which is both the most popular and the best wallet.
To purchase bitcoins, head on over to a Bitcoin exchange. An exchange is a website where you can convert fiat currencies dollars, euro, ruble, etc to BTC.
Online gambling is mostly a trust business, and with Bitcoin and other cryptocurrencies you can take trust and safety to a whole another level.
You can forget about FIAT and play with total anonymity. Bitcoin and other popular cryptocurrencies like Ethereum, Dash and Litecoin are perfect for gambling.
The next thing you need to take into account are the games offered. Some Bitcoin platforms cover various products like sports betting, poker, and casino.
Of course, there is the alternative to go to a website that specializes in the one you like the most. Finally, the overall quality of the service matters a lot.
The trustworthiness of the support, the user interface, the mobile version, the variety of games, and other factors should be part of your evaluation.
Here are a few recommended sites to consider if you want to jump in right now. Usually, the process is very simple.
Go to your own wallet, and send the desired amount. The money will soon appear in your account. The withdrawal process is similar.
Once you wish to cash out, open the cashier section of the gambling operator. You will be asked to provide a Bitcoin wallet and enter the amount you wish to withdraw.
Many platforms will send the money instantly, and you will have it soon. However, some have a pending period before the transaction is processed.
The simple answer to this question would be yes. Many countries have yet to introduce regulation related to Bitcoin, which creates something of a grey area.
You can learn more about blockchain by reading this fantastic article by IBM. Instead, you can just feel secure in knowing that Bitcoin is one of the safest ways to make transactions online.
As always, we want to bring you the complete overview of a topic, and this means that we also have to mention the disadvantages to using Bitcoin at online casinos.
There are three main reasons why some shy away from using this cryptocurrency, and you can read about them below….
This is perhaps the biggest concern many people have about Bitcoin: there is no official protection if anything goes wrong. If you have your bank account hacked, you can go to the police and also often get your money reimbursed by your bank.
We mentioned earlier that Bitcoin can increase in value, however you also have to look at the flipside of this equation, as it could also drop in value too.
Essentially, buying Bitcoin is like any other investment, so do some research before buying any of this cryptocurrency, or any other cryptocurrency out there.
Payment methods like VISA and MasterCard are accepted at the majority of online casinos, however finding a site accepting Bitcoin is trickier.
This means that those who want to deposit and withdraw using Bitcoin will have a smaller selection of casinos to choose from. Bitcoin was the first major cryptocurrency to spring up, however there are now also many others to choose from.
None are as popular as Bitcoin, however you will still be given the chance to use some of them at online casinos. You can find out about some of the other popular cryptocurrencies that can be used at online casinos below….
Ethereum is the second largest cryptocurrency, after Bitcoin. It is, however, still significantly less popular than Bitcoin. Ripple produces the cryptocurrency XRP, which is the fourth largest cryptocurrency in the world.
The biggest plus point to this cryptocurrency is the speed of transactions. Monero offers the best security and privacy of all cryptocurrencies, which is something that appeals hugely to many online casino players, as well as those using cryptocurrency to buy and sell other products and services online.
The security and privacy are gained by having user IDs protected by concealed addresses and rings of signatures.
As the name suggests, Bitcoin Cash is a breakaway from Bitcoin. The cryptocurrency itself is a digital form of payment for an item or a service, performed on its own decentralized, peer-to-peer network.
It is not regulated by any government or financial establishment, hence its volatile value on the one hand, and its secure and prompt payment processing capabilities, on the other.
The blockchain takes the role of a ledger, with the distinction that it is not an actual book of financial records. Yet, it still manages to record each transaction that is being performed among two or more Bitcoin accounts, update its records in real time and make all this data available to anyone in the ledger.
That way, everyone knows the sender and receiver of every transaction, as well as the amount of Bitcoins involved, all to the purpose of disabling anyone from using a single bitcoin for multiple transactions.
Now there are two types of Bitcoin software providers. The first is Bitcoin platforms such as SoftSwiss that offer an all-in-one online gambling package.
These turnkey solutions allow for online casinos that look and play exactly like their fiat counterparts. The other forms of gambling software come from recognized providers.
Software giants such as Microsoft and BetSoft now develop BTC version of their most popular software games. Guide Gambling Best Sites Menu Bitcoin Gambling with Bitcoin.
Read more on gambling with Bitcoin. When selecting a dice site, you should look for a strong faucet, the house edge percentage and provably fair software.
Bitcoin Slots : Video slots can be found throughout the bitcoin gambling community on many sites, each offering different games from several developers.
Many bitcoin casinos offer slots along with other casino card games like blackjack. The premier video slots environments will often have fast game load times, a vast array of games available, strong deposit bonuses and an excellent customer service team.
Bitcoin Sportsbooks : Sports enthusiasts have the ability to bitcoin gamble on many different sportsbooks websites. Winning bitcoins with your sports knowledge is easier than ever and many sites support the ability to bet on virtually every major team and individual sport around the world.
Be aware that some sportsbooks platforms offer different odds than others. Whether they come from forks, airdrops or real blockchain projects, cryptocurrencies are seen by critical minds as speculative currencies.
Even if they are about to disappear for the most part and there will only be Bitcoin, they are the delight of online casinos in constant search for new and fast methods of payment.