Bitcoin is a virtual, digital currency, or better known as a cryptocurrency currency created in 2009. It uses peer to peer technology to simplify instant payments, and all confirmed transactions are noted in the blockchain. This allows Bitcoin wallets to calculate their spendable balance allowing new transactions to be verified. In a nutshell, it’s referred to as this age’s digital gold and also offers a certain degree of anonymity when playing at online casinos.
How do Bitcoin Casinos Work?
A Bitcoin Casino is no different from the traditional online casino. It mostly offers the same game selection, but players can deposit and withdraw in the cryptocurrency Bitcoin. However, more and more casinos are adding this cryptocurrency to their banking options. For now, we are going to focus on what is referred to as bitcoin casinos, ones that only accept Bitcoin as they are fast becoming more popular for a variety of reasons.
The Appeal of Bitcoin Casinos to Gamblers
There are several reasons more and more online gamblers are opting to play at an online casino operating only through Bitcoin, and we are going to discuss them in more detail as they are rapidly becoming the next big thing in online gambling
- No Transaction Fees – Regardless of the payment method players use, there are no transaction fees.
- Anonymity – Online security and privacy is paramount nowadays and in particular for online gamblers. One of the security protocols for online customers is to provide the online casino with verification information, whereas Bitcoin removes this process. All you need when using this cryptocurrency is a Bitcoin Wallet ID which allows you to play, deposit and withdraw without disclosing any personal information.
- Simplicity – The reason why many online players enjoy Bitcoin slots is that it takes almost zero skill to play. Playing a hand is also fast, which means players can enjoy on the go entertainment anywhere anytime.
Top Online Bitcoin Casinos
The four Bitcoin Casinos listed below have hundreds of games which include a variety of 3D Slots, Jackpot Slots and classic casino games. Some of them allow wagering in Bitcoin as well as some of the other small tokens, and they are:
- Fortune Jack
These four Bitcoin Casinos have been independently tested for provable fairness thanks to blockchain, accessibility for both US and International residents, security, anonymity, best odds and speedy withdrawals.
Technically the cryptocurrency Bitcoin is recognized as legal for most of the world; however, it is yet to be deemed a real currency. Most countries only see it as a property. When it comes to online gambling there are no clear or definitive laws or outlaws recognizing it as legal, yet more and more of the online casino’s are adding this cryptocurrency to their deposit and withdrawal options. The reason being that Bitcoin Casinos have brought brand new competition to the online gambling industry and offer distinct advantages over fiat-based online operators. It certainly looks as if Bitcoin Casinos are the next best thing!