Online Bitcoin Casinos
Let's start by explaining what Bitcoin and the bitcoin casino are. Bitcoin (BC for short) is an electronic payment system that emerged in 2008, the developer is still unknown. (Even though it was published by someone named Satoshi Nakamoto, it is considered to be a nickname.) BC works with a peer-to-peer system. In other words, it does not need a centralized institution like a bank.
There isn’t a stationary center where the data are kept. All data is created by users, stored on those users’ computers, and the central database is called "blockchain". Everyone who wishes can become a part of this network and “produce” for the blockchain. At the moment, 12.5 bitcoins are being "produced" every 10 minutes and added to the network. It is much more valuable than you think: 1 BC was equivalent to $ 1,267 when this article was written.
The fact that it is not managed from a center offers many advantages. Anonymity comes first among them. It is not possible to identify the members of the network. When bitcoins are sent from one person to another, the personal information of the parties is not revealed. So the receiver and the sender always remain anonymous.
Since it is a digital system, you can control all transactions with portable devices (such as mobile phones) with ease. You do not need to pay any commission when sending and receiving money. Moreover, it is a currency you can invest in: In the last 6 years, the value of bitcoin increased almost every day. In short, choosing bitcoin offers you true financial freedom: You do not have to wait for hours for a bank transfer, and you do not have to deal with the exorbitant commission fees of the banks. Wherever you are in the world, you can send and receive money with bitcoin.
So how does this affect online casinos? First of all, casinos who offer BC as a deposit method can accept payments from all around the world. Although traditional payment methods have limits and commissions, BC does not have such limitations. Moreover, transactions do not last days or hours: You can deposit and withdrawal money in mere seconds. Because of these advantages, we will start to see bitcoin casinos more often in the near future. The bitcoin casinos UK and the rest of the world will attract more customers through this exclusive payment system and will not have to deal with currency exchange problems: Bitcoin will be the only currency used in every online casino. Fast, anonymous and can be used from everywhere by everyone: What more can you ask for? Let’s take a closer look at the bitcoin casinos and the advantages they offer.
How to Find Online Casinos That Accept Bitcoin?
Finding a bitcoin casino is easy, whether it is a bitcoin casino UK or any other location in the world. Just look at the accepted payment methods: If BC is listed as an available deposit method, the online casino supports it. Most casinos advertise this feature on their home pages, so it is easy to notice. On some websites, you may need to visit the “help” page and check for the deposit methods. Once you become a member, BC will be listed as an accepted type of payment on your account page. You can also check the website of The Bitcoin Foundation to see a list of the casinos that accept this type of deposit.
Advantages of a Bitcoin Casino
There are several advantages for casinos as well as players for choosing the Bitcoin system. If we specify these separately:
Advantages for Gamblers:
- Tax Advantage. Since the database is not controlled by an authority, your earnings in the system are tax-exempt.
- Security. The other name of BC is "cryptocurrency". No personal information means no identity thefts. Nobody can steal your information and use them. In this respect, it is much safer than credit cards. But do not forget that there is no chargeback feature: a transferred money cannot be charged back and once it is gone, it is truly gone.
- Privacy. Your personal information will not be kept in the casino records. The privacy of your personal information is protected.
- Save Time. Bitcoin transfers are instantaneous. They are completed in seconds and you do not lose any time.
- No Fees. You do not have to pay any commission or fees for bitcoin transfers.
- Bonuses. There are exclusive bonus offers for players who prefer the Bitcoin system.
- Provably Fair. The Provably Fair system is a new concept and is unique to this currency only. In this system, the fairness check of the games can be done by the players themselves. So every player can see how fair a game is by testing it himself. This is a great advantage because you can easily find the best games on your own.
Advantages for Casinos:
- Lower Transaction Fees. No need to pay commission and fees to intermediary institutions and the banks. No third parties involved nor needed.
- Global Currency. Bitcoin is valid throughout the world and is of the same value. You do not have to deal with the differences between the exchange rates.
- Transaction Speed. You do not need to wait for the banks to send money. You can track your winnings much more quickly and up-to-date.
Find the Best Online Bitcoin Casinos with Slotozilla
Slotozilla is closely following the casinos that accept Bitcoin and informs you about all the online casinos with this feature. Bitcoin may become the only digital gambling currency in the near future, and we are ready for that.
However, we are aware that a casino must have other features too: For that reason, we examine all of them in detail and make sure that you play only in reliable, reputable places. To see a list of Bitcoin casinos, you can visit our reviews page. Do not forget to come by often: All our reviews are updated regularly.