Why use bitcoin casinos for online gambling?
Despite the fact that online gambling is becoming increasingly regulated and banned by governments, bitcoin casino and bitcoin bets are growing out of water. You can enjoy all the big casino games like bitcoin poker, roulette, blackjack, bingo, dice games and many more – all with no bitcoin limitations and quite often with advantages over normal casinos such as bitcoin bonus in various promotions and advertising campaigns.
How to buy Bitcoins?
You can buy at many currency exchange offices that will send you Bitcoins in exchange for your money. These crypto exchange office as Coinbase, Coinmama or CEX.IO. You can also buy Bitcoins from people who want to sell them. In many countries, you can exchange Bitcoin for cash using Bitcoin ATM.
Beware, however, because the price of Bitcoin is very volatile. We recommend to take a look at the Bitcoin price development over the past year.
Is it possible to prove that Bitcoin Casino is fair?
Online casinos that are demonstrably fair work on the basis of a cryptographic hash function, an algorithm for creating encoded hash values against a server and client seed. Usually this is a procedure:
- The random secret seed is generated and encoded into the hash code by the server
- Hashed server code is sent to the player
- The player inserts a random client seed
- Both seeds are mixed using the encoding function to produce a result
- For client verification, the server seed is shown to the player
Is it possible to fool players for Bitcoin casinos?
Technically not, but every time we play for money, we move on thin ice. Some fraudulent casinos use tricks to rob players, such as disconnecting software, not paying money, and so on. Therefore, it is very important to read reviews and feedback from previous players.
How do I know if a bitcoin casino is proving fair?
There are several ways to find out. This can be read from reviews and feedback about the casino. You can also make sure that the casino is undergoing the above procedure. Also, beware of the way the site tries to prove that this is a fair game. But it can never be reliably ascertained for itself.
How long does a deposit or withdrawal take?
Deposits and bitcoin selections do not take much time. For smaller quantities, it is either very fast or instant if you have your own wallet ready. For larger quantities, this can mean 2 to 10 hours per transaction. Normally, the traction can be observed and it is very easy to keep track of it.
Do I need a credit card or gambling bank account?
No credit card or bank account required. You can bet with Bitcoin, which is not only easy, but also free in terms of fees, compared to credit cards and bank accounts.
Are bitcoin casinos regulated?
Not all, but some do. Like all casinos, Bitcoin casinos must be registered in the country from which they operate, but there are many Bitcoin casinos that do not meet these requirements. Watch out for these casinos.
In addition, many Bitcoin casinos operate from countries where possession of a license means paying royalties and that is all, so always look around before investing money.
Do I need to download some software?
It matters. If you need to make a bitcoin wallet, there are options for that. Some bitcoin casinos also require you to download their software, the client through which you will subsequently operate.
How do deposit bonuses work?
Deposit bonuses are part of the strategy that casinos try to attract new players. The site uses them differently, so you should always read specifically how the site handles deposit bonuses.
Is there a minimum deposit amount?
No. There is no minimum deposit at bitcoin casinos, at least mostly. Most often you will find casinos where deposits are counted on miliBitcoins (mBTC). For example, if you enter 1 BTC, you will see a 1000 mBTC balance. You can play games with these 100 units.
What is the difference between BTC, mBTC and uBTC?
BTC stands for Bitcoin.
mBTC is milliBitcoin, or a thousandth of Bitcoin.
uBTC is microBitcoin, or a millionth of Bitcoin.
What does responsible gambling mean?
Responsible gambling is that you should not lose control of your willingness to bet, you should think about your steps and you should definitely pay attention to how much time and money your casino costs. This requires the same emotional and financial self-control that is needed by Bitcoin itself.
The danger that gambling will turn your life inside out is very real. Never lose your head, let yourself be distracted from your duties; be responsible.
Are Bitcoin Bets and Payouts Blockchain Transactions?
Mostly the answer to this question will be “No”. Bitcoin transfer takes place on a platform, which is a separate entity from Blockchain. On Blockchain come back again after you choose Bitcoin.
Is bitcoin gambling legal?
Yes, bitcoin gambling is legal where it is legal to gambling over a domestic fiat currency, such as the Crown or Euro. This area of gambling has not yet been legally treated, but it is possible that this will change in the future.