Check out the list of Bitcoin casinos on the table below. If you want to know more about why you should play at Bitcoin casinos, we’ve produced this page just for you.
What is Bitcoin?
Bitcoin is a cryptocurrency, meaning it is a currency produced by software. It does not need a central bank to print it, and there are no government board members deciding Bitcoin policy.
Bitcoin is produced by a computer protocol and traded by those who wish to either to hold it for profit or use it to buy goods and services.
As you will see here, Bitcoin has several advantages over traditional fiat (national) currencies. These advantages are why so many Bitcoin casinos are appearing online and why so many online gamblers prefer using Bitcoin.
What Are Bitcoin’s Advantages?
The advantages of anything depend on your own unique perspective to some extent. For online gamblers, Bitcoin has the following advantages:
Enhanced Privacy
Playing at Bitcoin casinos will allow you to keep a degree of separation between your financial statements and your online gambling.
For example, no casino transactions will appear on your bank or credit card statements. Once you buy Bitcoin, you can then transfer it to the Bitcoin casino and gamble it, and nobody will be able to tell what you did with it.
There is growing concern about privacy (rightly so in our view). There’s no doubt that there’s a need for tools like Bitcoin which allow us to buy and sell without every company which has dropped a cookie on our computer knowing about it and selling that data on.
Bitcoin is the way to go if you want to keep your gambling secret. You can also use other specific privacy coins at some casinos.
Enhanced Security
You’ll never have to share your card or bank details with anyone again if you switch to playing at Bitcoin casinos. This is another big (and justified) concern for many players since there seem to be stories in the news every single day about hacks, data leaks, and breaches.
If a hacker breaks into your casino account, all they will be able to see is the Bitcoin address the money came from. They won’t be able to do anything with that except send you some bitcoin if they’re feeling generous!
Bitcoin is super secure, and therefore Bitcoin casinos are by default more secure than regular casinos. Hackers also know they won’t be able to do much with a bunch of Bitcoin wallet addresses, so they have less incentive to attempt to break into Bitcoin casino sites.
Faster Payouts
There’s nothing casino players dislike more than waiting for jackpots and other winnings. We’re sure you’ll agree.
Bitcoin can do away with those annoying week-long waits for good. If you play at Bitcoin casinos with fast payouts, you will be able to get your money within hours of requesting it rather than waiting days or even weeks.
Crypto snobs will be quick to point out that Bitcoin is slow compared to many other cryptocurrencies, but it’s still lightning fast compared to regular old bank transfers or credit card transfers.
Bitcoin isn’t the fastest cryptocurrency (yet), but it’s a big step up from what you’re probably used to.
Lower Fees
Bitcoin fees are now so low that they’re negligible. We’ve transferred thousands of dollars worth of Bitcoin across the world for a few cents recently.
Bitcoin fees used to be high, but no longer. These days they are next to nothing, and this is possibly the main advantage of Bitcoin casinos.
You’ll still need to make sure the casino doesn’t charge withdrawal fees otherwise this may cancel this advantage out to some extent. However, if it’s a fee-free Bitcoin casino, then you can expect to pay pennies per transaction rather than whatever your bank or card provider might take.
Permissionless Participation
What, what, what? What in the heck does permissionless participation mean? Well, simply put, it means anyone, anywhere, at any time, can buy, sell, send, receive, and use Bitcoin.
You don’t have to apply for a Bitcoin account, you don’t have to ask anyone’s permission to spend it, and no institution can tell you what you can or can’t spend it on. This is particularly attractive to players in countries which try to prohibit them from online gambling.
All you have to do to start using Bitcoin is download an app or create an exchange account and buy some. This can be done in minutes, and you can fund your casino account at any time of the day or night from anywhere in the world.
What are Bitcoin’s Disadvantages?
We don’t want to insult your intelligence and try to sell you on the idea that Bitcoin is perfect. It isn’t, and our goal is to inform you, not deceive you.
So, with that said, here are some of the downsides to playing at Bitcoin casinos:
It’s Different to Traditional Payments
When you first start using Bitcoin at online casinos, it can be overwhelming. There’s a tendency among new Bitcoin users to look at the ugly wallet addresses and think twice.
Yet, this is no different than anything else that’s new. Some of you might be old enough to remember the internet when it first came about. Lots of people were suspicious of it and didn’t like it either.
Yet, nowadays, almost everyone uses the internet, and they do so because they learned how to. The same will probably be true with Bitcoin, so you might as well overcome the knowledge gap now.
Bitcoin is easy to use once you do a few transactions. Don’t be put off by the small technical learning curve involved.
Lost Bitcoins
If you lose your Bitcoins, either during a transfer or when they’re stored on your device, it can be a real-life nightmare.
As much as banks and credit card companies can be a pain in the neck, it is nice to be able to call them up and tell them when we’ve been defrauded, when we’ve had our cards stolen, or when a transfer has gone missing.
No such service exists for Bitcoin. Since the blockchain (network) isn’t owned by anyone, there is no way for anyone to help you out, although some friendly community members may do so.
The point is this: sending Bitcoins to the wrong address could mean you never get them back. Likewise, losing your wallet keys or exchange password could mean your Bitcoins are irrecoverable.
Note: There are people who KNOW they have hundreds or thousands of Bitcoins from way back in 2011/2012 who can not access their wallets now that the price has exploded. Imagine how they feel. Bitcoin wallets are so secure that if you forget your private keys, it’s game over.
Price Crashes
Bitcoin is a wildly volatile cryptocurrency. Its price moves up and down so fast that there’s a meme of a coin on a rollercoaster which Bitcoin enthusiasts share on social media regularly.
The Bitcoin price can increase or decrease in value by hundreds of dollars per bitcoin per day. Sometimes, for no apparent reason, it can crash and lose thousands of dollars of value in a week.
Historically, Bitcoin has always recovered and even surpassed previous levels, so if you ‘re patient and wait it out, this might not be such an issue.
If you’re in a rush for your jackpot, though, it could be a real pain to find that you won $2,000 and thanks to a flash crash it’s only worth $1,800 when you go to change it back into your national currency or buy something with it.
On the other hand, the Bitcoin price can rise just as dramatically, so you could win $1,000 and find it’s worth $2,000 a month later. It’s a double edged sword!
Bitcoin Casinos – Frequently Asked Questions
Q. How do I start playing at a Bitcoin casino site?
All you have to do is pick one of the sites listed above, register an account, buy some Bitcoin at an exchange, and make a deposit. It’s the same process as you would go through to play at any other casino. The payment method is the only step that’s different.
Q. Are there are mobile Bitcoin casinos?
All of the casinos listed above are mobile-friendly. Some of them even have apps (you can find out in the reviews). Pick any one of them. Android, iOS, phones, tablets, they’re all compatible.
Q. What’s the tax situation of I win a Bitcoin jackpot?
That depends on where you’re playing from. Tax laws vary from country to country. We would advise researching in in-depth and possibly speaking to an accountant if you have a sizable win.
Q. Are there any Bitcoin casinos for USA players?
Absolutely. American players are one of the main driving forces behind the popularity of Bitcoin casinos. Bitcoin is permissionless, remember? You can do what you like with it.
Q. What’s the best Bitcoin casino online?
Whichever site is number one on our table is the one we think is best as of now. This could change as time goes on, but right now, the casino in the top spot is our favourite Bitcoin casino.
