Bitcoins casino and cryptocurrency casinos are in full swing, and they will increase users exponentially in the coming years. However, there are still many doubts about these platforms, their characteristics, or their regulation.
For this reason, in this article, we will explain what Bitcoin casinos are, how they differ from traditional online casinos, and why you should start using them.
WHAT IS A BITCOINS CASINO?
A Bitcoin or cryptocurrency casino is a digital gambling platform where cryptocurrencies are allowed as a payment method. For example, you can play BTC slots, Poker, Roulette, or many other games on almost every casino platform; you only need to find the one you like most!
Gone are the days when Bitcoin was perceived as a foreign element because now it has become present and future for many people. And not only Bitcoin: many platforms currently allow using cryptocurrencies such as Ethereum, Litecoin, DASH, Bitcoin Cash, and Dogecoin.
WHY USE A BITCOINS CASINO?
We have already seen that finding a Bitcoins casino is possible, and their number is growing. However, many people often need clarification on its usefulness beyond the payment method.
1. GREATER PRIVACY AND EVEN ANONYMOUS
Thanks to the emergence of Bitcoin and other cryptocurrencies, the door is open to creating anonymous casinos with low demand for personal data. In these casinos, we do not have to formalize our registration with countless ways to verify our identity and provide official documentation to create our accounts.
The information requested through anonymous casinos is minimal, and in most cases, just adding our Gmail or Facebook account is enough.
2. SECURE PAYMENT METHOD
Although cryptocurrencies are the raison d’être of these casino Bitcoins, that does not mean that they get purchased from there.
For most cases, buying Bitcoin or Ethereum, among other digital currencies, will first be necessary on a cryptocurrency exchange such as Binance and transferring them to an e-wallet.
From there, we can easily use them as an instrument to play in Bitcoins and cryptocurrency casinos. It is essential to highlight this aspect since we have blockchain technology in our favor, which means that every transaction we make with our cryptocurrencies will be stored securely.
3. REDUCED COMMISSIONS AND FASTER TRANSACTION FASTENING
Cryptocurrencies are made up of decentralized systems, which gives them a value that differentiates them from other means of payment. In the first place, this feature achieves meager commissions per transaction, so only paying a reduced nominal fee is enough.
Also, this fee is necessary for this blockchain system to work, and it has also been proven how a decentralized system manages to reduce costs. On the other hand, the time required to perform actions such as withdrawing money has been simplified.
This is a significant difference if we consider that for cases in which the withdrawal of money took two days, now only one day is necessary, and, as in other cases, you can withdraw instantly. These factors undoubtedly differentiate elements that cryptocurrencies have that traditional payment methods still need to manage to achieve.
HOW TO CHOOSE A SAFE CASINO WITH CRYPTOCURRENCIES?
The popularity of portals of this type has led to the emergence of many offers. That is why it can be difficult for users who are just starting out to opt for an advisable alternative. The main thing in choosing the best cryptocurrency casino sites is to verify that they are safe options.
Many platforms offer betting with cryptocurrencies, but they do not provide any guarantee of seriousness. Although these assets are decentralized and not linked to banks, some institutions certify the operating sites’ transparency. These authorizations give credibility to the platforms, as they accredit the solvency of the internal systems.
Casino licenses may come from various authorities. In many countries, there are public entities. However, in other markets, only international seals apply, such as those issued by the MGA (Malta Gaming Authority), the UKGC (United Kingdom Gambling Commission), or the GRA (Gibraltar Regulatory Authority). Licenses are the most elementary requirement for gambling with confidence, whether in cryptocurrencies or fiat money.
POSSIBILITY OF INVESTMENT IN THE MARKET
Gambling in itself is not an investment mode but a form of entertainment. Of course, you can multiply the capital in games of chance, but luck is an unavoidable component. On the other hand, in classic investment, the main factor is knowledge of the market, although unexpected contingencies may have a crucial influence.
This does not mean that casino games do not allow adding value to the deposited balance. On the contrary, you can reap reliable results if you use the tools using betting strategies. The best way to test is to set a capital limit, in order not to suffer irreversible losses. The same logic applies to stock market investments.
Betting operators can also represent an ideal digital space to store cryptocurrencies. As they are platforms with solid security guarantees, you can use them to save a specific currency without commissions and wait for the right moment to withdraw it and sell it through a digital wallet. Cryptocurrency casinos may have more practical tools depending on the case, which are adapted to the users’ needs.