During the last decade, a new form of gambling has appeared on the market. Although we are all used to the traditional way of gambling with fiat money currencies, there is a new way of gambling with cryptocurrency.
As the online casinos provide gamblers with virtual space where they can play a great variety of online games for about two decades, they’ve gone one step beyond and invented crypto gambling as a better form of gambling.
Crypto gambling is a way of gambling where cryptocurrency is used instead of fiat money, very similar to regular cryptocurrency sites using blockchain technology instead of fiat currencies. There is no central bank for cryptocurrencies and no regulations as there is no physical form of the currency, so their value depends solely on usability in various transactions.
Crypto gambling and anonymity
The newest method that is, without a doubt, becoming the most popular is crypto gambling. It uses the blockchain technology (digital collection of financial transactions) in transferring cryptocurrencies instead of traditional banking, so the cryptocurrencies go from one party directly to another, with no third party involved in the transaction.
In the gambling sense, this means that players won’t be required to pay taxes on their winnings, thus being able to keep their winnings entirely. Customers also don’t need to provide their credit card information, so there is no chance to abuse their personal info, identity theft is completely excluded, and there are no chargebacks.
The great advantage of crypto gambling is anonymity. On fiat-based sites customers have to provide the site with their valid personal information when opening an account for they will be required to show their ID on payouts. On crypto gambling sites, customers only have to provide their transaction block number of their winnings when verifying their account. So, all one has to do is to choose the best bitcoin casino.
Finding a reliable bitcoin online casino
If you’re looking for a reliable bitcoin and cryptocurrency casino, you ought to read as many reviews of different casinos as possible, because there you will find very important information about casinos given by customers who already have lots of experience with them. You can also ask questions in this section and get answers from other users.
Check out the payment options, for crypto casinos often have a withdrawal limit, so that the customers do not cashout all the currency at once. Additionally, make sure that the casino you’re considering is accepting the cryptocurrency you intend to use, as not all of the platforms accept the same cryptocurrency.
It is very important to check out the casino licenses to find out if the casino considers all the regulations and rules connected to the casino.
Winnings in bitcoin and crypto casino gambling
The benefits of winning when using cryptocurrency are double. There are no limits to how much you can wage, and the more bitcoins you deposit, the more you can win, without any charges. Which is not the case with regular money. Casinos that accept only fiat currencies always come with bank fees.
Sometimes bitcoin casinos offer no deposit bonus with no wagering requirements where customers can keep the winnings up to the amount which is determined by the operator. Other times, customers will have the opportunity to withdraw these winnings in fiat currency, if they don’t want to deposit any more bitcoins into the casino account.
Ideally, customers should use bitcoin casino no deposit bonuses when exploring a new casino or checking out new games and titles. If they do so, they won’t run the risk of losing any of their bitcoins or other cryptocurrency.
Crypto casino apps
Crypto casino apps have more seamless integration and are more compatible with smartphones, unlike browser-only casinos. Top rated crypto casino apps offer excellent user experience, considerable selection of games, offline gameplay and verification from both Google Play and Apple Store.