Casinos have a history of being open to convenience. Likewise, gambling institutions keep up with every trend to ensure that punters have seamless gaming experiences. As a result, we have seen many convenient evolutions in the gaming industry. But nothing has gotten so much acceptance as decentralized payment – or as most people call them, Cryptocurrency.
What’s the Deal with Bitcoin Casinos?
In 2013, the Curacao Gaming Authority gave a gambling license to CloudBets Casino. That was the turning point in gaming history. CloudBets Casino was similar in outlook and gaming markets to most online casinos of that time, but it had one fundamental difference: It only accepted Bitcoin payments.
Bitcoin payments may have been odd in 2013, but today, it is a trending payment method. Most gambling sites and several land-based casinos now accept bitcoin and other forms of Cryptocurrencies as their leading payment methods. Some people argue that Cryptocurrencies are popular today because they offer speed, safety, and anonymity, some of the basic features that make punters comfortable enough to make huge deposits.
Cryptocurrency Casinos are similar in games and basic features to other online casinos. Still, by offering absolute control and anonymity to the user, these crypto-based gambling sites have become the most preferred gambling option for all classes of gamblers.
While CloudBets was limited to accepting only Bitcoin payments, most crypto-based casinos now accept a range of other cryptocurrencies. Of course, the currencies differ in value and credibility. Still, you would find that the popular cryptocurrencies like Ethereum, Dogecoin, USDT, and Litecoin have become as stable and perhaps more valuable than fiat currencies.
Like most online casinos, registration is necessary for playing at a crypto casino. This may sound counterintuitive since these casinos run on anonymous payment structures.
So why do you have to register before you can start playing? Unfortunately, all licensed casinos have to follow the rules of their licensing authority and international anti-money-laundering (AML) regulations, and the basic rules are that the casino must have detailed records of their customers.
Most casinos only require basic details to verify your identity, and Crypto-based gambling sites require way less information than you would expect.
New players only need to sign up with their email addresses and agree to the casino’s terms and conditions.
Here is an outline of the simple steps for registering on a cryptocurrency casino:
- Select the gambling site. You can type the link on your browser or mobile app if available.
- Click the “Register” or “Sign Up” button on the homepage
- Enter your valid email address
- Create a reliable, complex password
- Select a convenient currency (the service accepts different types of currencies)
- Confirm your age and agree with the conditions of the site
- Click the” Receive notifications” option if you need it
- Press the “Register” button at the center button part of the screen
Registering allows the new players to enjoy most gaming options in the online casinos and every bonus available on the platform. In addition, most new gambling sites offer their new players a range of welcome bonuses and promotions ranging from daily benefits to seasonal promotions.
Crypto Offers Seamless Transactions
One of the hallmarks of Cryptocurrencies is the ease and anonymity of the transactions. Cryptocurrency runs on blockchain technology that maintains the security of the currency.
Asides from the security of blockchain technology, the structure also ensures seamless transactions through mobile wallets that are compatible with most mobile devices and sometimes have their websites.
These electronic wallets run on a two-factor authentication process that verifies the user and maintains the security of the funds. The best part is that cryptocurrency transactions occur in minutes. Of course, the speed of these transactions often depends on the quantity. Still, since no financial institution regulates the interaction, you can complete all payments and deposits in minutes.
Playing at crypto casinos is as simple as it sounds, but you would need to have your cryptocurrency ready before you can start making deposits and wagering on games. Here are the steps you need to take:
- Log in to your favorite crypto or bitcoin casino and visit the cashier
- Select a cryptocurrency
- Choose a crypto wallet
- Enter the amount you want to deposit
Among the more popular methods of payment remain card and e-wallet payments. The majority of hybrid casinos offer multiple crypto payment options and regular payment options such as MasterCard, Visa, Neteller, Skrill, and Trustly.
If you like the idea of additional security and anonymity, crypto payments are a great solution. However, it is also important to note that cryptocurrency casinos offer lesser promotions and bonus offers than regular online casinos. But these limited offers often have more value than the raging bonuses you find at fiat casinos.
What Bonuses Do Crypto Casinos Offer?
Crypto casinos increase the pleasures of gambling with cryptocurrencies by offering a range of mouth-watering bonuses. These bonuses are generally similar to what you find in regular gambling sites, but these are not incentives you want to reject. So, here is a quick look at the more common bonuses:
- Welcome Bonus: It is the first incentive after signing up for a crypto casino gaming account. You can get it before or after depositing your bitcoin currency. While welcome bonuses are popular in most fiat-based online casinos, crypto gambling sites offer quantity instead of these pervading welcome bonuses.
- Deposit Bonus: It is only available after the player has made their deposits. It is more common in crypto casinos than in any form of the welcome bonus. Here, the player can enjoy a certain percentage of their deposits as an incentive for the deposit. The challenge with deposit bonuses is that they often have wagering requirements which means that the player has to wager their bonus several times before they withdraw the bonus.
- Loyalty Bonus: This is the most popular bonus in bitcoin casinos. They include incentives that the player gets for their patronage at the gambling site. Sometimes the Loyalty bonus comes from the number of the transaction and what they’re worth. However, the most common factor is how often the punter logs in and other activities on their casino account.
- Free Spins: Every punter knows about free spins and how helpful they are when the player needs some more time to play. Like most gambling incentives, the player only gets free spins subject to the casino’s terms.
There’s no question that many players are enticed by the bonuses and promotions offered by casinos. It’s a great way to get a head start and to be able to enjoy playing at higher stakes than you regularly would or to extend your casino experience by having a larger budget.
We understand that Bitcoin casinos must maintain higher standards than regular casinos regarding bonuses and promotions, so we are not surprised when the crypto gambling sites often offer more enticing bonuses than you would find anywhere else.
Exciting Game Catalogs
Online gambling offers a variety of regular casino games, just in digital form. Well, the same rule applies to Crypto casinos. The payment method is the major distinction between crypto-based casinos and regular online casinos. You would find that they have similar game options. The game lobby of most crypto gambling sites overflows with some of your favorite slot games, tons of progressive jackpots, and several table games. Fans of live dealer games seem to have hit the jackpot with bitcoin casinos as they offer some exciting games from the most popular gaming developers in the industry.
One exception to the gaming options of cryptocurrency casinos is that they include Crypto games. Yes, there are some games that you can only play with cryptocurrencies. Some popular options include leading Provably Fair games like Crypto Dice and Crash. Their names often change depending on their developer, but these games are strictly for Crypto Casinos.
They are called Provably Fair Games because they run on an algorithm that ensures fairness in casino games. Regular online casinos offer some Provably Fair games, but it is more common among crypto casinos.
Are They Legal Restrictions On Crypto Gambling?
Cryptocurrency is in that grace period when most jurisdictions try to decide if it would boost or hurt their economy. This grace period means most countries do not have specific regulations against crypto-based gambling sites. So you can wager on these casinos without fear of illegality.
Even if some countries one day decide that cryptocurrencies are risky, blockchain technology decentralizes the coins so that no one can track, take, or freeze your wallets.
These cryptocurrency gambling sites do not need your data. Whatever Know Your Customer (KYC) details they get from you are mostly to keep up appearances for licensing. But international data protection policies ensure that personal information like house addresses, bank details, and others do not fall into the hands of exploiters.
Worth The Risk?
Despite its fast-paced development, crypto gambling is a relatively new concept. But we have proof from its widespread acceptance that this new payment system would change gaming as we know it.
Of course, we are not blind to the potential risks of an anonymous payment system, especially for vulnerable gamblers. Nevertheless, we are ready to explore this future in cryptocurrency gambling, whatever the risks.