Guest Post

Bitcoin Casinos: Pioneers of Crypto iGaming

news-image

The first cryptocurrency casinos began to appear in the early 2010s — there was a worldwide boom in popularity for all digital currencies. Then the first operators offered their customers to play online casinos using bitcoins with a bonus.

The uniqueness of the incentive was at the peak of the demand for the cryptocurrency, the player earned not only from betting but also from the increasing exchange rate of the coins. Today iGaming with bitcoin is still growing in popularity from day to day. Now we are going to figure out what kind of bitcoin casinos exist and how they really work.

Types of Crypto Gambling Sites with BTC

There are two types of crypto casinos: the first is a conventional online casino that accepts cryptocurrency like bitcoin as a payment method. Players just need to have the right amount of funds on their online wallets. To be honest, these are not real crypto casinos, as they do not take advantage of any blockchain technology. The second type of casino is a gambling platform running on a blockchain. It has no server, no licenses, no managers — the blockchain takes care of everything.

What is Blockchain & How it Works?

Blockchain is a large decentralised database. It runs on users’ computers and does not require a central server. To access such a casino, gamblers just need to install special extensions. Gaming, payment processing, membership management, RTP software — every part of the online casino services runs on this blockchain. 

Blockchain processes all payments automatically due to the smart contracts feature. Even if the casino is closed down, players’ winnings are preserved in the blockchain. The integrity of the game is controlled by the players themselves, hence a cryptocurrency casino does not need a license.

Now 3 best bitcoin casinos already gained the trust and a good reputation among players in the industry. These are:

  1. Bitstarz;
  2. BitCasino;
  3. FortuneJack.

Before playing anywhere using cryptocurrencies, we recommend exploring various reviews from experts and other players to avoid tricky situations while gambling.

Advantages of Bitcoin Casino for All the Players

We have compiled the major items that reveal why more people prefer using crypto money for online gambling: 

  • No license is required. Crypto casinos have no central server, so they do not require permission from the government. The casino owners are anonymous. The government cannot control any servers because there are none. Thus, there are no country restrictions for crypto casinos.

They can accept participants from anywhere in the world. Moreover, participants can remain anonymous. They do not need to give the casino their personal and financial details. An email address is enough to become a member of a crypto casino and no identity verification is necessary.

  • Provably Fair Gameplay. Players can check the true RTP bets in all games. This system cannot be cheated, and you can be sure that the games are truly fair.
  • No Verification. No one has to verify your withdrawal request. Your potential winnings are already on the blockchain and tied to a smart contract. This means you will be paid as soon as you win — no need to wait days or even hours. Play any game, win and get a prize in a couple of seconds, that’s it. Blockchain is autonomous and no third party can interfere. Consequently, it is impossible to lose money even because the casino does not operate anymore — the money has already been paid into the blockchain.
  • Almost No Fees. Your government cannot block or prohibit you from making a deposit into a casino. Likewise, your withdrawal cannot be restricted. What’s more, compared to conventional payment methods, blockchain transaction fees are very low. As a player, you can remain outside the global banking system and still make all kinds of financial transactions.

All these pluses attract gamblers for sure but this does not mean you need to trust any operator that supports crypto transactions. Be a responsible player and check the details about every casino site on your own.

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Guest Author

Crypto Journalist and Editor of guest articles in CoinPedia. Also, Outreach & Partnerships Manager. Contact me: [email protected]

Related Articles

Back to top button
Close
Close