If you want your money and private information to be safe from hackers and scammers online, you can opt to transact through bitcoin.
Bitcoin is one of the safest cryptocurrencies. It uses an elliptic curve digital signature algorithm (ECDSA) to ensure nobody can hack into your wallet. It is managed through a decentralised structure, which enhances faster transactions.
That’s why online casinos embrace this type of transaction to increase a better user experience.
However, not all online casinos offer bitcoin as a transactional method, and even some of those providing bitcoin transactions are not legit.
Which, then, is the best bitcoin casino you can trust? That is what this article is going to cover.
We’ll help you know what online casinos are and which trustworthy ones are that you can deposit using bitcoin and avoid fraud as you enjoy the games.
What Are Bitcoin Casinos?
These are gambling platforms that accept players to use bitcoin cryptocurrency to make deposits and withdrawals.
You can fund the games of your choice, and if you win, you can withdraw bitcoin to your wallet.
Other platforms even allow players to convert cryptocurrency into fiat currency on the platform. This enables players to withdraw traditional currency into their bank account in case cryptocurrency is not accepted in their country.
Some of the safest bitcoin casinos can be found in the list that we’ve put together at the top of this page.
Benefits of Bitcoin Casinos
Bitcoin casinos prioritise players’ data safety. Unlike traditional casinos, which require one to submit personal information like credit and debit card information, these bitcoin casinos only require a bitcoin address.
A bitcoin address refers to a special identifier that specifies the virtual location where the cryptocurrency should be sent. This prevents players’ personal information from being stolen for fraudulent purposes or their bank accounts hacked.
Traditional casinos use a currency that’s regulated by the government, meaning they should work under set regulations. This contributes to slow transactions since conventional banks, for example, ACH bank transactions can take one to three days.
However, because bitcoin casinos work under a decentralisation system, the transaction is faster. You can get your cryptocurrency in your wallet on the same day.
Decentralisation also contributes to a low transaction fee. This is because the decentralisation structure eliminates the need for a middleman in the transaction process.
Downsides of Bitcoin Casinos
Though bitcoin casinos are advantageous, they have their downsides, too.
Bitcoin’s value is unpredictable; its rate can go up or down any day due to the limited number of bitcoins circulating and the demand.
You can deposit, for example, bitcoin cryptocurrency worth £500, and when you opt to withdraw, you find out that it`s less than the value you invested.
The solution is to confirm the bitcoin value before converting it into fiat currency. If you find that the cryptocurrency value is low, that`s not the appropriate day to convert your bitcoin.
Besides, bitcoin is not regulated by the government. This contributes to the increase in the risks of crimes such as fraud, scams and market manipulations. In 2021 alone, cryptocurrency worth £14 billion was reported to have been scammed. This warns users about the need to invest a minimal amount of money in cryptocurrency.
How We Rank Our Bitcoin Casino Sites
There are various factors contributing to a business’s trustworthiness, one of which is how it ensures customers’ safety and the kinds of services it offers to clients.
Here are the factors through which we examined the best bitcoin casinos you should consider:
How Safe the Casino Is
For an online casino to be legitimate, it should work under government regulations. We examine every platform to make sure that they all have a valid government licence. This ensures that they can be accountable in case your funds are delayed or any fraudulent activity happens.
Usually, an online casino licence is found at the footer of the website.
Online Casino Reputation
There are online casinos that promise what they can`t deliver. Before you decide to invest your time and money in a gambling platform, ensure to check its online reviews.
There are some companies that may promise to offer no-transaction withdrawals, but the withdrawal limits may be very high to an extent that it may take you a long time to reach.
Reading various reviews helps discover what people who have already used the platforms say about them. This helps know what to consider and what to avoid before registering to any bitcoin casino.
Many negative reviews reflect a bad reputation, and many positive ones mean that it`s a trustworthy company. We made it easy for you in the casino list provided.
Ability to Play a Variety of Games
Every gambler has their favourite games. There are those who love slot games, roulette, blackjack, etc. The platform you decide to get into should be offering the games you love.
The outline is enriched with platforms that provide a variety of games to play according to your preference.
Ability to Offer Bonus and Promotions
A good casino platform offers bonuses to its players. This is a way to thank them for being loyal and motivating them to keep playing.
Others offer daily promotions which allow one to play even when they don`t have any bitcoin to deposit. This makes the game fun and helps increase your skills without depositing. Outlined here are casinos that offer handsome promotional rewards that you can count on.
Why Are Bitcoin Casinos So Popular?
People love bitcoin casinos for their privacy and security. They provide anonymity since one doesn`t have to submit personal information. This makes it the best way to fight hackers.
Another reason is the instant withdrawals and the affordable transaction fees. Bitcoin casinos offer low withdrawal limits compared to traditional casinos. You can cash out a minimum of 0.001 bitcoin cryptocurrency, which is cheaper than the traditional ones, whose minimum withdrawal limits are mostly £5 and above.
Are Bitcoin Casinos Safe?
Bitcoin casinos are the safest way to gamble online. They guarantee private information and money safety from hackers and spammers.
You can find safe bitcoin casinos by researching online. To ensure online casinos are safe, consider the following:
- Make sure the casino is licenced: this keeps you safe from any fraudulent activities.
- Choose a casino that offers various transactional methods: this enables people to convert their bitcoin into fiat if they want.
- Ensure the casino has reliable customer support: this assures you that you will be helped whenever you raise any concerns.
You can know about a casino`s safety by reading various online reviews.
Bitcoin Casino Withdrawal Times
Withdrawing from bitcoin casinos is faster. It doesn`t have many restrictions like the fiat currency, which requires waiting for one to three or five days & being restricted to withdrawing on working days as opposed to weekends/holidays.
With bitcoin cryptocurrency, you can withdraw any time and any day, and your money will be deposited in your wallet within ten to twenty minutes.
Now, if you’d like to find the safes & best Bitcoin casinos, be sure to head back to the top of this page, where you can easily compare & find the Bitcoin casino that’s right for you.
