The use of cryptocurrencies in gambling is becoming more and more popular: reliable monetary systems are the best for the gambling industry. How are bitcoin casinos different from other gambling resources and what are their advantages?
What are bitcoin casinos?
Bitcoin casinos are gambling platforms where you can bet and win in BTC. There are online casinos where only this type of digital currency can be used, and there are some where bitcoin is just listed among the available ones (among other cryptocurrencies and fiat money).
The appeal of bitcoin is that the settlement system is very reliable, in transactions it does not apply to any intermediaries, and internal transfers are fast and inexpensive. Also, the use of cryptocurrency involves the protection of personal data, as this digital money provides anonymity to users.
Advantages of bitcoin casinos
The aforementioned customer anonymity is not the only advantage that is important in the gambling industry. Bitcoin casinos are popular for a number of other reasons that make them more convenient and trustworthy than regular gambling resources.
- Most bitcoin casinos feature zero transaction fees, whereas traditional fiat money casinos have limits and commissions.
- Guaranteed withdrawal of funds. The features of cryptocurrencies protect the user as much as possible from possible access to the wallet by fraudsters and blocking of the account.
- Low entry threshold. Bitcoin casinos make the deposit amount very small and attractive for novice players.
- Worldwide access. You can play at cryptocasinos as well as withdraw funds anywhere in the world. Due to the anonymity of transactions, it can be done even by residents of countries where gambling is prohibited.
- Bitcoin casinos do not require customers to provide all the data and go through several rounds of verification. Players are also attracted by an opportunity to make minimal bets in the form of a couple of satoshi: there is no place to spend such money anyway, but it’s quite realistic to try to multiply your cryptocurrency capital.
Reasons to switch to bitcoin for operators
Cryptocasino profitable for players due to advantages in the form of anonymity and minimum bets. But the casino owners themselves also get benefits for work and business development.
- It is much easier, cheaper and faster to open bitcoin casino, than the gambling resource, where fiat currency is used (two-three weeks instead of two months).
- The list of clients and market boundaries for the operator will expand considerably.
- Irreversibility of transactions.
- Not as much competition as among operators of conventional online casinos.
- It is not necessary to get a license to start working in the market (but it is better to do it to increase the level of trust).
- Cryptocurrency is becoming more and more accessible to the general public in different parts of the world, so there will be more and more players using bitcoin.
- The share of bitcoin casinos in the market now does not exceed 15%, but in the coming years, experts predict an increase in these figures. The main reason: the benefits of using cryptocurrency for both players and casino owners.
Examples of bitcoin casinos
Fortune Jack. One of the longest-running bitcoin casinos, has been on the market since 2014. Simple and easy to use, it attracts players with a large list of cryptocurrencies it works with, as well as a welcome bonus. The minimum deposit is 0.002 BTC.
The casino is notable for its fast withdrawals and the ability to instantly replenish the account. Users expect daily cashback, a wide range of games and the opportunity to play with a live dealer.
Cloudbet. Another old-timer in the gambling market, the founding date of this bitcoin casino is 2013. The resource was the first of its kind, allowing not only to play slots with cryptocurrency, but also to bet on sports. The casino works with bitcoins or Bitcoin Cash.
The user can choose between slots, poker, live games and betting. The minimum deposit is 0.01 BTC. The casino also gives players a welcome bonus and the opportunity to participate in an attractive loyalty program.
mBit casino. Optimal option for novice players who want to get acquainted with the principle of bitcoin casino in practice. The assortment has 2300 games, there is blackjack and the opportunity to interact with live dealers.
The casino works with bitcoins, Bitcoin Cash, Lightcoin, Dogecoin, Ethereum. The minimum deposit to start playing is 0.0003 BTC, a welcome bonus is