Bitcoin is one of the latest trends to pop up the internet after the onset of online casinos and virtual reality. It is one of the most talked about topics in technology and finances and as such attracting both negative and positive reviews to it.
Online, casinos are quickly adopting it, evident by the large number of online casino websites that are fast incorporating it in their banking system. In addition to the gambling industry, other top brands such as Dell, Subway, and Starbucks have all accepted it and time won’t pass by before the rest of the entire world jumps aboard. Already liking the sound of this? Read on to discover more on how it is impacting the online casino scene.
What Is Bitcoin?
Bitcoin, also known as BTC in short, is a form of digital currency that was created by an anonymous person, and it’s created and stored electronically through an electronic wallet. However, unlike other forms of currencies, there is no person who controls it and it is not printed like euros or dollars. Instead, it is produced by people through the process referred to as mining.
Legality of Bitcoin in the UK
This cryptocurrency has been a subject of debate in the UK parliament on whether or not to legalize it. However, this does not apply to the online casino industry. This means players can use this Cryptocurrency to pay for their services at the online casino as long as they are playing at a UK licensed casino.
Top 3 Benefits of Bitcoin Gambling
Low fees – Compared to other payment options online, BTC has the lowest fee partly because there are no third parties involved while carrying out the transactions
Safety and security – BTC use the latest encryption technology while conducting their transactions and all the coins are stored in block chains. This means you don’t have to use your credit card information while making payments making it totally safe to use
Anonymity – This is perhaps the most important and main reason why BTC has become more popular with gamblers and users across the world. While making payments using BTC, you don’t have to disclose any of your personal information. Other benefits include fast processing times for both deposits and withdrawals, flexibility as no government can control it and its high value compared to all currencies.
Games That Can Be Played with This Cryptocurrency
Now that you know the three advantages of of using this digital currency, which games can you play using Bitcoin? Below is a list of all games in summary:
- Satoshi Dice.
Bitcoin Casino FAQs
How do you buy Bitcoins?
This popular Cryptocurrency is readily available online at the different BTC exchange platforms. You however have to ensure that you have set a wallet, which will enable you to carry out the transactions seamlessly
How does one deposit using BTC?
Depositing is easy. Just like any other transaction, you’ll have to log into your account, go to the banking option, select this as a method of payment, add your wallet details and click on the deposit option to complete the transaction.
Is there a commission for every transaction?
This varies from one casino portal to another. While others offer free transactions, others will have a small fee imposed on all transactions, perhaps because of the extra services they offer.
How long until I can use my Cryptocurrency?
Immediately you click on the deposit button, you’ll be ready to start using your BTC to gamble online.
Is it possible to convert the coins into real cash?
No. Once you deposit using the different coins, you can only use them as they are, until you withdraw them. Once they are in your wallet, you can then convert them to real money.
Do I have to sign up using BTC as the main currency?
It all depends on your preference as most of the online casino websites usually have given you the liberty to choose which currency you prefer to use.
What is the legitimacy of BTC Casinos?
As far as BTC Casinos are concerned, provided it has a license issued by the UK gambling commission, it is very safe to play and access all of its services.
Which countries have officially accepted Bitcoin casinos?
There are only a handful of countries that have 100% legalized the use of Bitcoin as a method of payment and purchasing goods. Japan, Canada, Belgium, Italy, Netherlands, Switzerland, France, Israel and Singapore are just a few that we know of. However, not all have legalized gambling and betting activities.
Do I get to receive bonuses using cryptocurrencies?
Yes. Just like you are awarded with bonuses once you make deposits using the other payment methods, you are entitled to receive BTC bonuses, which you can withdraw once you’ve met the wagering requirement
Looking from the state of current events, we strongly believe that Bitcoin hasn’t really achieved its full potential and it’s only just getting started. Some financial experts strongly believe that it could theoretically breach the $500,000 mark in future and this is why at free slots no download, we believe that bettors should definitely start playing using BTC at the different BTC Casino right away!