While traditional media were just starting to pay attention to cryptocurrency, various gambling portals were pondering with might and main about how best to use its advantages. Many of those online casinos that once took the risk of building a business around Bitcoin (or simply adding a few cryptocurrencies as another payment method) are still working successfully.
Of course, the Bitcoin exchange rate very much influenced the growth of interest in virtual currencies. But even if we abstract from the charts with the price of BTC, the willingness of representatives of the gambling industry to accept Bitcoin and other cryptocurrencies is very easy to explain.
Advantages of Bitcoin casino games
The unprecedented interest in cryptocurrencies and Bitcoin in particular was largely due to the technical features of this innovative ecosystem. Financially savvy people have paid particular attention to several key aspects of digital currencies:
- Speed of payment processing
- Cheapness of money transfers
- The ability to send small parts of one BTC
- Security and confidentiality of transactions
- Relative independence from the state
It just so happens that each of these points is of great importance in online gambling. Therefore, as soon as the first casinos with slot machines for Bitcoin appeared on the Internet, the rest began to realize the indisputable advantages of cryptocurrency for casino games.
The technical features of transaction processing on the Bitcoin network make money transfers very fast. The transfer of funds from one account to another is instantaneous. It remains only to wait for the final confirmation of the transaction from the miners. Except during periods of extreme network load, this procedure takes about 10 minutes.
By the way, about miners. Transferring funds via Bitcoin is also much cheaper. The user himself indicates the size of the “miner” commission for each transfer. If we compare these pennies with the possible costs of commissions of banks, payment systems and all kinds of intermediaries when transferring traditional fiat currencies, cryptocurrency seems to be a particularly profitable solution.
For the average online casino user, this can be a double benefit. First, he will be able to save on deposits and withdrawals. Secondly, the gambling portals themselves will lose less profit on commissions, which allows them to offer players more “tasty” bonuses.
How to play online crypto casinos and win
Perhaps the most obvious advantage of playing on Bitcoin is the player’s privacy. The Bitcoin network does not have personal data about the owner of the cryptocurrency. They are not sent along with wallet addresses or public keys. Many Bitcoin casinos do not even require special personal information from users – and if they do, it is only to comply with legal procedures.
Not all users would like to advertise their interest in casino games. Bitcoin makes money transfers an order of magnitude more private – and, in some cases, completely anonymous.
Another feature of bitcoins is the ability to play for very small amounts. There are one hundred million so-called satoshi in the Bitcoin conventional unit, and some casinos allow you to bet on very small amounts. Again, this almost never happens with fiat money.
This should be of interest to gamblers who do not take the risk of playing big on Bitcoin. In this case, caution does not prevent you from enjoying the winnings, albeit small, but still pleasant amounts. And in the case of cryptocurrency, you never know what the value of this amount will be tomorrow.
In some cases, cryptocurrencies help avoid physical location restrictions. The state has no control over how the player disposes of his BTC. This allows you to play for Bitcoin from almost any corner of the planet, if you have access to the Internet.
Another advantage concerns not so much the cryptocurrency itself as the casinos that accept Bitcoin. The fact is that on such portals one can often find the so-called “provably fair” games. Perhaps you have already met the words “Provably Fair” in the titles of sections on some portals.
This principle means that everyone can take and check the honesty of the result of a particular game. The ability to see with your own eyes how the result was generated increases the credibility of the portal better than a thousand reviews.
Do you know what else makes bitcoin casino games stand out? Great bonuses for users!