Bitcoin Gambling

With the growing popularity in the use of Bitcoins, the online world has been quick to respond with the creation of online gambling sites dedicated solely to the use of Bitcoins. The options for Bitcoin gambling are already pretty good with some cash only sites also offering the option to play with Bitcoins, many of the sites are offering deposit bonuses to users playing with Bitcoins, the most typical of which, is double your first deposit on their site. Bitcoins are catching up with traditional cash gambling websites offering a wide range of typical games such as; dice, poker, video slot machines, sports bets and also even casino games with live dealers. Of course with time the variety of games will grow along with the growth and popularity of Bitcoins.

So, how is Bitcoin gambling different from traditional gambling you might ask? The most straightforward answer is the Bitcoins themselves, Bitcoins are a different type of currency and are also handled in a different way from other currencies. In essence Bitcoin is a digital decentralized currency meaning it is used in the same way no matter from where the transaction is made globally. It is also what we refer to as a cryptocurrency which means it is more secure as each new transaction is verified by a handful of people before it is finalized.

The main advantage of Bitcoin, is that traditional Casinos would usually require a credit card to verify payments, allow players to place their bets, and later to cash in their winnings, this for some people may be a concern because it means linking their bank accounts to gambling sites, that are not always 100% secure. In this instance not only is Bitcoin more secure due to its multi-verification system for all payments and transactions, but also because Bitcoin is totally anonymous. Users of Bitcoin make transactions using a Wallet, which unlike a Bank account, is not linked in any way to the person who owns it and does not contain personal information such as addresses or names. The Bitcoin wallet is defined by a string of numbers and can be accessed using a special encrypted ‘Key’ that is unique to each account and it’s transactions.

Another thing to note is that credit cards often charge fees for transfers of money, so Bitcoin may even be a cheaper option for you as you are removing ‘the middle man’. Having said this many countries have been quick off the mark to ban bitcoins and their associated bitcoin gambling websites so be sure to check whether it is legal to bitcoin gamble in your country before you begin. It’s a wise idea to check the PF of the games, PF stands for Provably Fair and it means that the odds of the game are not stacked against it’s players. You should also take a moment to check out the terms and conditions of each individual site as these will vary, keeping this in mind, often the bonuses that are offered for signing up have an expiry date and will be depleted from your account if not used in this time.

It may sound pretty complex but don’t be intimidated by the idea of Bitcoin gambling as essentially the differences are all behind the scenes, the currency is different but the gaming experience is exactly the same.

The first step to trying out Bitcoin Gambling is to get yourself a Bitcoin wallet, these ‘wallets’ come in 3 different forms and are in essence your account; A string of numbers that relates to the place that your Bitcoins are stored. Even with an empty wallet some Bitcoin Gambling sites will allow you to sign up first, the best sites even provide advice and links to where you are able to obtain your Bitcoins.

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