Bitcoin is a digital currency created in 2009 by an unknown programmer under the name Satoshi Nakamoto. In recent years, many have resorted to using this digital currency to fund their live dealer casino accounts. Thanks to better internet speeds and improvements in modern computer architecture, live casinos have become mainstream. Bitcoins are not issued by a particular central authority; they are created by individuals called miners. Unlike other currencies such as the Euro or Dollar which are printed, Bitcoins are ‘mined.’ Mining is said to occur when a miner verifies a given transaction made with Bitcoins and receives new Bitcoins as a reward. Bitcoin live casinos offer players a great selection of games which include Roulette, Blackjack and Baccarat.
Getting Started With Bitcoin
- Getting Started With Bitcoin
- Top Rated Bitcoin Live Dealer Casinos 2017
- Advantages Of Playing In BTC Live Dealer Casinos
- Disadvantages Of Playing In BTC Live Dealer Casinos
- Bitcoin Live Casino FAQs
- Bitcoin As An In-game Currency Versus Mode Of Exchange
Bitcoin, or BTC, is handled by online casinos like other currencies such as the Euro or Dollar, provided the casino accepts Bitcoins in the first place. Bitcoins are stored in a ‘digital wallet’ which is like a virtual bank account that may exist on a user’s computer or in the cloud. Before you make any deposit through BTC, some casinos will give allow you to check out games’ streaming so that you have a clue of what you’ll be up against. Once you load your wallet with Bitcoins, transferring them onto your live casino account is super easy. Limits for wagers when using this cryptocurrency vary from one live casino to another.
Top Rated Bitcoin Live Dealer Casinos 2017
- BetBit Casino
- BetOnline Live Casino
- BetChain Casino
- mBit Casino
- BitStarz Casino
Advantages Of Playing In BTC Live Dealer Casinos
There are various reasons why you should play live casino games at Bitcoin casinos. As such, you stand to benefit from improved privacy, smaller transaction costs and a commitment towards achieving game fairness. When you register at a BTC live casino, you won’t be prompted to enter your personal details at all. In most sites, only your email address is required. Also, you won’t be charged any extra fees like the 5% credit card charged by traditional casinos, every BTC you transfer to your account is yours to play with. Lastly, BTC casino games are committed to upholding the integrity of casino gaming by creating a level playing field.
Disadvantages Of Playing In BTC Live Dealer Casinos
The Bitcoin cryptocurrency is volatile in nature. Sometimes, it is affected by uncontrolled fluctuations which may lead to huge losses for players. Also, although BTC is a young payment system, live casino gamers are constantly faced with concerns related to the safety and future of this cryptocurrency. Something else players have complained about is that BTC live casinos don’t offer generous welcome bonuses to new players as other non-cryptocurrency casinos are known for doing. Lastly, BTC live casinos as still very few despite this digital concept being with us for a few years now.
Bitcoin Live Casino FAQs
Are Bitcoin Live Casinos Licensed?
Reputable Bitcoin live casinos are licensed and controlled by the laws of Curacao, the United Kingdom while Malta is in the process of regulating this cryptocurrency. However, it’s your responsibility to confirm whether the licensing information of the casino is shown in the website footer section. Alternatively, you can consult from sites such as Casinmeister, GPWA or Affiliateguarddog whereby, other forum members can share their knowledge and experiences related to your chosen casino.
Is Bitcoin Live Casino Gambling Legal?
Just like gambling with the Euro, Dollar or British Pound, Bitcoin live casino gambling is perfectly legal. As of now, the BTC cryptocurrency is only regulated in a few countries including China and Japan. However, other countries are likely to follow suit given the unstable nature of this currency which sometimes can lead to huge losses for live casino players.
How Do Bitcoin Payments Work?
The first step you should take is to download a BTC e-wallet either on your phone or desktop computer. You can then buy Bitcoins from any of the many online exchanges or traditional retailers and Bitcoin ATMs. When you but a BTC, it will be credited to your e-wallet instantly, and you will be free to transact with any BTC live casino of your choice.
Do Bitcoin Apps Function Well On Mobile Devices?
Yes, they do. As such, Bitcoin casinos offer their apps downloadable apps which can run smoothly on any mobile platform. To date, the Android and iOS platform are the most widely used mobile operating systems. Generic apps of Bitcoin casinos can be downloaded from the Apple store for iOS users and Google play Store for Android users. However, remember also to download apps of legitimate BTC casinos.
Bitcoin As An In-game Currency Versus Mode Of Exchange
One important thing you should remember to look at when transacting with Bitcoins at any online casino is whether the casinos allows gambling using Bitcoins as an in-game virtual currency or, whether it converts BTC deposits and withdrawals to another currency for use in the casino. In case of the latter, this means that you might be subject to Bitcoin’s fluctuating nature to and from the British Pound or US Dollar. Hence, you’re better off choosing a BTC casino that uses BTC natively as an in-game currency.