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As it is clear from the name, bitcoin casinos are those that accept cryptocurrencies with bitcoin in the lead. We can even say that in the online games market, a bitcoin casino is the product in trend as it has been recognized as the most frequently selected one. The reason for such popularity is that the usage of bitcoin has simplified the process of gambling in general and in several particular ways. The easiness of cryptocurrency payments in online casinos is incomparable with regular methods. The next important point is that such casino type is known as provably fair. More detailed explanation of this term you may find on BitGamblers.net but in short it means that in case players decide to have control over the game, they can do it any time, anywhere just clicking once on a special zone. They will be provided with all the data regarding game results in order to prove that everything is legitimate and fair. That is a perfect opportunity to make sure that casinos have no chances to cheat.
If we compare regular currencies with bitcoins and other cryptocurrencies, it is possible to see that for bitcoin there are no strict comprehensive regulations. Considering that the technology is rather recent, there are no particular restrictions on any jurisdiction today. If we go back several decades or even just a few years, we may see that before the internet was introduced all gambling establishments were under close control of local authorities. The situation hasn’t changed much when it came to online gambling. But with bitcoin, it is still in the process of settling the rules and restrictions.
Talking about the United States, the laws related to regular and online gambling may differ greatly from one state to another, and, as time goes by, they even become the direct opposites. In contrast, in the United Kingdom and most European countries the restrictions and limits have a tendency to be relatively weak.
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Bitcoin and Blockchain Technology
Our perception of money is changing day by day as nowadays the modern world uses cryptocurrencies as Bitcoin. Back in 2009 a new type of cryptocurrency was created, which got an identity as a bitcoin. The father of bitcoin is somebody by the name Satoshi Nakamoto but there is a possibility that the name was used as a nickname of another person or even a team. Bitcoin is a form of digital currency that can be used without an account at a central bank. Thus, no intermediaries are needed for accomplishing a transaction between users. This kind of currency cannot be touched like dollars, pounds or euro; it is a sort of electronic cash you can pay on the Internet using a peer-to-peer bitcoin network. In a rather short span of time bitcoin has got traction and became the most common cryptocurrency today. There are marketplaces where you can purchase or sell bitcoins. Those stores are called ‘Bitcoin exchanges’.
Bitcoin has become a very powerful source in the matter of organizing transactions between a recipient and a sender. All you need is a portable device like a smartphone, a tablet or a standard computer. All financial operations are brought into action on a very secure basis, with high speed and without any other participants involved. As it was announced, it has not been successfully attacked even once since 2009, which obviously serves as a great proof in terms of security and reliability. Bitcoins are put into circulation with the help of special technologies and, of course, software. Each and every operation involving bitcoins is actually being recorded into an open registry journal – Blockchain. It is a vivid example of a great technological achievement that has already been used not only in a way it was created for but also in numerous different ways in order to operate with traditional systems of record-keeping. As a result of so many attempts to replicate Blockchain, a big market of ‘altcoin’ or ‘an alternative coin’ has been created.
It is absolutely amazing if you have bitcoins, since you can gamble in so many crypto-games casinos. But the most highly rated and the biggest crypto-casinos allow financial transactions not only with one type of currency.
Besides the well-known Bitcoin, there are following types of digital coins:
- Bitcoin cash
In case you already have bitcoin money and know how to use it, you can proceed to enjoying any possible online crypto casino games. But, being on the safe side, we strongly recommend to be thoroughly enlightened on this subject and clearly understand how your funds may be spent. Here, on BitGamblers.net, you may find all the necessary basic information on the bitcoin usage and general terms and agreements. Only after this, you will be sure what steps to take in order to send your interactive money to any online casino. Our team of professional experts have already verified the best ones among online crypto-casinos and are ready to share this list with you absolutely for free. Instead of wasting your precious time and reading hundreds of reviews, searching for reputation grades of crypto-casinos, you may just open the offered list and select any gaming destination. You can be absolutely sure that your choice will be ideal and reliable. The choice is rich so there is no need to stop only at one or two options if something doesn’t suit you.
How to Deposit to Casino with Bitcoins
We will give you a step-by-step instruction. First, you must have a valid Bitcoin wallet. Then, you are to top this wallet up with some cash and purchase the digital coins. You are welcome to take advantage of debit/credit cards or connect your bank account to your wallet. Then, after purchasing Bitcoins, you can deposit to a casino of choice. You will receive a bitcoin address to deposit funds to a casino. In most cases creation of any deposit may be completed just in about ten-twenty minutes. Anyway, do not hurry and wait until the sum you have deposited is finally displayed in the casino account balance.
95 percent of crypto casino web-sites maintain the so-called method of address “copy and paste”. It is very easy – you have to copy the account address of the casino and paste it to the address of your Bitcoin account. Another 5 percent operate on the basis of a system where the bitcoin address represents a single bet with the designations of odds. In such case all your happy winnings may be transferred directly to you, and there will be no casino wallet address designation.
Modern world allows us to use all the possibilities that exist and here comes the perfect alternative of bitcoin wallets QR codes for bitcoins transferring from account to account.
If you desire to withdraw bitcoins, you have to be aware that a fee is supposed to be paid. To carry out this procedure, you use “copy and paste” and then prepare to wait for some period of time before the process will be completed.
Security and Safety
Before you start playing on the Internet with real cash activities via bitcoins keep in mind that safety must be in the first place. It is essential to ensure that the bitcoin casinos you play in correspond to the legislation of your country.
To keep your personal data and bitcoin information safe, hold on to the following key points:
Pay attention to the withdrawal time and the bitcoin exchange rate announced on the website of your favorite online casino. As a first step, try to transfer the sum of money to your wallet and look at how the process is carried out. Compare what data was promised by the provider and what you got in a result. Don’t fall in a situation when you are winning big and having no chance to get your hands on bitcoins you won eventually.
Don’t let your casino account data and your wallet information to fall in the hands of any third party. Avoid uploading the information connected with the bitcoin service to a cloud store. This is not secure because of the possibility of hacking. Malware that uses keystroke logging is becoming more common these days. Don’t save your user credentials on the computer and don’t use the “copy and paste” method while handling such information. Committing to memory is the best way to keep your personal data safe. If it’s quite tough, use a paper and a pen to write your ID and password down.
Beware of bitcoin gambling services that ask you to provide them with your private key data. A justifiable company will never ask you to share with them your bitcoin account data, password, personal keys and so on. It’s just like someone would ask you to give him the number of your national insurance. Don’t let your bitcoins be wiped off because of gullibility and reckless negligence.
Even the most risk-free online casino is a subject to be hacked. Attempt to use trustworthy casinos but keep on their accounts only a small amount of bitcoins. A great sum of money left on the casino is a huge risk-taking. Store a substantial part of bitcoins you have in a wallet. It’s the best solution to save not only your virtual currency but your real-life nerves.
Pay special attention to the link of a casino site you sign in. Check out every letter of the URL, because there are a lot of phishing and scam sites nowadays. These sites look like those you used to enter, but differ from genuine sites. Don’t become a victim of such sites that contemplate you to give them your ID and all the other login information. Once you play a real online casino, make a mark in a browser you use. Exclude a possibility to click a wrong link and lose your private information, and further still get ripped off your money.
Provable Fair Gambling
Provably fair gambling is such a process that allows gamers to confirm the fairness of the game’s outcome. The concept is built on three main elements: Random Number and Random Seed Generators, and Hashing. Don’t worry if you don't know what these terms presuppose, because this is what we are going to discuss today.
RNGs’ function is to generate thousands of nempers within one second in order to determine a random outcome.
Random Seed Generators are the numbers inserted in the algorithms which are meant to determine the outcomes. In the provably fair system, gamers are supposed to include a seed number so that to make sure the outcome is not decided by a casino.
Hashing is actually meant to shorten long data strings. When it comes to provable fair play, the seeds are ciphered when they are hushed. The Bitcoin betting sites which are hashed are basically indestructible. Thus you can be calm that they are not fabricated.
The Principle of Provably Fair Gambling Work
Keeping the aforementioned things in mind, we can now proceed to the description of the way the system of fair gambling works.
1. First of all, the website comes out with a seed digit, hash it and send it to the gamer.
2. The next seed digit is added by the gamer himself.
3. After the stake is played out, the system decides an outcome.
4. The gamer has an opportunity to confirm the stake. In case there was some intervention the gamer would be aware of it as the hashing would not be confirmed. The seed the gamer receives and this one a player has added must be identical and if they are different, then it means that the process wasn’t fair.
Advantages of Bitcoin Casinos
Every online casino has its advantages. But when it comes to Bitcoin betting platforms, there are numerous prominent odds. Shall we first take a look at transactions?
If we compare the rapidity of transactions with bitcoin and classical currencies, it’s obvious that the crypto-wallet method of payment makes your funds transfers significantly faster. Just create a quality bitcoin wallet and ready to go!
Bitcoin vs. Credit card. What is faster?
To accomplish a fast credit card deposit takes no longer than to make a bitcoin deposit. The speed of both operations is pretty the same. More significant difference is noticeable when you withdraw your money. It takes from two to five working days in order to carry out withdrawals via credit card and from three to four hours via bitcoin wallet, even if the Internet traffic is loaded.
How to transfer winnings from a casino?
There’s nothing easier than to organize withdrawal of your winnings from any bitcoin casino. The whole transaction consists of transferring cryptocurrency from a casino to an authoritative exchange office and takes no more than 2 hours in total. If BTC systems aren't supported by banks, you have to recourse to exchange bitcoins you own. It’s possible to exchange your cryptocurrency to folding money such as GBP, EUR, USD, etc. Then, you are simply transferring this money to your banking account.
Are there any fees charged?
Usually, when you make a transaction which involves a crypto-exchange and a bank, you have to wait for one or two days till it is completed. But it also entails a non-essential charge or a withdrawal fee. By the way, there is another thing to mention. Some operators provide extra bonuses to Bitcoin users!
Legal Bitcoin Gaming
As the situation changes quite swiftly, make sure to check if bitcoin gambling is legal in the country of your residence. As there are countries where gambling as a sphere of activities is restricted completely. The same applies to Bitcoins. In general, there is a list of countries where bitcoin gaming is prohibited. The United States, for instance.
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Why Choose Bitcoin to Gamble?
Bitcoin is decentralised
That means that you are the only one who controls your wallet and your cryptomoney, the funds can’t be freezed or taken away. Transactions are instant.
That said, you can use any name you want and nobody would ever be able to learn your true identity. All transfers via Blockchain can be tracked, but nobody will know it is you.
Bitcoin network works in every place in the world and allows really fast transfers with low cost to any part of the globe.
Not only the crypto-money transfers are cheap being only USD 0.05, but also the fee is fixed so it doesn't matter what sum you transfer, the fee stays the same. In contrast to popular PayPal that charges 2-3% for international transfers.
Provably Fair Gambling
This suggests the possibility for players to make sure the game’s outcome was fair on the Bitcoin gambling sites. A more detailed information about The provably fair concept you can find in the article above.
The Procedure of Revewing a Casino
At BitGamlers.net, we strive to provide only thorough and trustworthy reviews of Bitcoin casinos. Our team of experts has come up with a specific set of characteristics a casino must possess in order to be considered a top-tier platform for gamblers in the net. You are welcome to have a closer look at what exactly we do to confirm the casino is worth mentioning on our website about the international Bitcoin platforms.
Security and Trustworthiness
For starters, the most essential thing while entering a new betting website is to ensure the security of the operator. We consider the safety of players’ finances and privacy of personal data a vital thing. So we always check if the site has a valid licence by regulatory bodies, whether they are regulated by independent authorities like eCOGRA, and whether the site is SSL-encrypted.
Games, Software and Bonuses
Gamers always look at the games collection present on the betting site. So, for us it is important to ensure that visitors of BitGamblers.net are able to find the right casino with the suitable and decent selection of titles provided by the best software developing studios. So, these are criteria we check while making a Bitcoin casino review:
For any casino the main hallmark is the selection or releases. Now only we want to see a vast choice of gaming titles with great slot machines, progressive jackpots, table games and live dealer section, but also we need the high quality. Also, it is always a prominent benefit when a Bitcoin casino has to offer a free-mode gaming for players to be able to try and find the best possible title and practice the strategy. Furthermore, it is a good option for gamers that prefer playing just for fun instead of betting with real money.
The collection of titles is defined by the developers that power the platform’s games section. The renowned providers such as Microgaming, NetEnt, Evolution Gaming and others are respected for their top-quality and clear-cut releases with outstanding graphics and game design as well as other features.
We haven't ever met a gambler who doesn’t enjoy taking advantage of the casino offers in order to improve the laer’s bankroll. We know that whenever you come to a new casino platform you want to see a lavish welcome offer, regulars want to be regularly praised by the operator in order to stay loyal to a casino. And the presence of the VIP programme for high rollers is a cherry on top!
Banking and Customer Support
Oh, the necessity of a great banking system present on the gaming site is obvious. What exactly do we want to see when entering a banking page in the Bitcoin casino? A decent range of available payment methods and currencies, of course. Another thing is the speediness of the payments processing, since we as players all would like not only to start gaming right away after we make a deposit but also a quick access to our winnings.
And we do remember about reasonable return-to-player rates of the casino which must be high enough for an operator to get to the top position in our Bitcoin casinos.
We can assess the level at which a Bitcoin casino operator values it players by the availability and efficiency of the customer support. So, we want to see the support center being available all day long during the whole week, the accessibility of the support team by several methods like phone, e-mail, live chat, as well as the decent FAQ. Moreover, a lot about an operator tells the number of languages in which the support team is available.