The idea of cryptocurrencies has been around for about as long as online casinos so it shouldn’t come as a surprise that Bitcoin Casinos have caused some serious waves in the online gambling community. A large portion of players are getting tired of regulations and compliance and don’t feel that it’s necessary to share their private details just because they want to withdraw their winnings.
Thanks to blockchain technology, people are able to transfer various crypto funds online without much trace, and this cloak of anonymity is what online casino players seek. Still, without regulations there’s no saying where money comes from or where it’s off to and for what purpose.
We might as well get used to the idea that Crypto Casinos are here to stay.
What’s different about Bitcoin Casinos?
Bitcoin Casinos speak directly to what most players want when they gamble online: superfast withdrawals, privacy, security, innovative bonuses, and thousands of games to play. It’s this combination that creates the perfect storm and a breeding ground for new casinos.
This, however, doesn’t necessarily mean that Bitcoin Casinos aren’t regulated at all. Most, if not all, are licensed by national gambling authorities like Malta Gaming Authority and Curacao. While a remote gaming license offers player protection, gambling with cryptocurrencies may be slightly less secure as this is not as regulated.
Websites like Dream Casino Bonuses spend countless hours on reviewing Bitcoin Casinos in an effort to inform players about the benefits and risks, but also about where to find the best possible offers and bonuses. Casinos like, Betplay, MyStake, Horus, Wolfy, Friday, Wild Tornado, Bitkingz, Oshi, and TropicalBit24 are some of the currently top-rated gambling sites that accept cryptocurrencies.
Many of them even accept that players use a VPN (Virtual Private Network) to encrypt their internet traffic and disguise their online identities. This technique falls short of what it takes to comply with remote gambling licenses, which is more of a concern for the companies operating casinos rather than players themselves.
Gambling with their reputation
The business model of any online casino is to rely on players losing more than they win. If winning players are denied withdrawals, the reputation of the casino will be ruined online by disgruntled players. And with so much money at stake, it’s simply not worth it.
To find out whether or not a Bitcoin Casino is credible, just look at the list of companies that supply games and payment methods. Virtually all renowned companies in those lines of businesses are eager to offer their services.
The list of game providers goes on and on with many Bitcoin Casinos offering some 10,000 games and dozens of payment methods.
Bitcoin casinos are here to stay
New technology has paved the way for online gambling and cryptocurrencies. The most common ones are Bitcoin, Ethereum, Litecoins, Dogecoins and Rapid. Bitcoin Casinos is usually the term used to describe any casino that offers cryptocurrencies along other fiat currencies, or strictly crypto.
Welcome offers in Crypto Casinos put a lot of pressure on an industry which relies so heavily on their players’ first deposit. Traditionally, online casinos will math this deposit with a percentage normally starting from 100% up to even 300%, and then you have to turn over the total sum of your deposit and the added bonus money.
Bitcoin Casinos may offer as much as 1.5 Bitcoin in Welcome Bonus without any wagering requirements. The only limitation they will impose is a max withdrawal based on the amount initially deposited, typically four or five times that amount.
Hundreds of thousands of players have already flocked to Bitcoin Casinos, they can’t all be wrong.