Over the past few months, Bitcoin has become one of the most talked-about assets globally, thanks to its massive price surge. As a result of the publicity, more people have become interested in Bitcoin and have seen the potential benefits of owning and using it.
Widespread use of Bitcoin and the technology behind it is starting to be seen in online casinos. Cryptocurrencies themselves can be excellent payment methods for casinos, and the blockchain technology that powers them can also be helpful for online casinos.
As a result, there has been a spike in casinos using Bitcoin and other cryptocurrencies. This article will explain why you might want to use Bitcoin casinos and how you can find the best sites to play on. If you’re looking for information on specific Bitcoin casinos, you can find the top Bitcoin casinos reviewed by Vienne Garcia here.
Advantages of Bitcoin Casinos
To make sure Bitcoin casinos are right for you, it is important to know some of the key advantages playing on them. Here is a list of what I believe are the top reasons for playing in a Bitcoin casino instead of a traditional online casino.
You Control your Finances
The most significant benefit of cryptocurrencies in many people’s eyes is that they’re decentralized, which means a single entity or system doesn’t control the currencies.
The funds inside your Bitcoin wallet are under your complete control. There is no bank in the middle to potentially freeze your funds or stop you from using them how you please.
Decentralization is a huge benefit because it means you can spend your money however you please and aren’t limited to using casinos that your bank must approve of.
Bitcoin is Global
Players can make transactions with Bitcoin worldwide, and it’s fast and cheap to make them. Anybody with an internet connection can send and receive Bitcoin, and the fees stay the same.
Unlike traditional banking, where transfer fees can become extortionate when sending money to other countries, with Bitcoin, the fees remain the same.
Again, the main benefit of this is freedom. You should be able to send money wherever you please without worrying about additional fees, and Bitcoin allows you to do just that.
In terms of online casinos, it means you can take advantage of great casinos that could be available in other parts of the world.
Provably Fair Games
When you play inside a casino that has been built using crypto technology, it becomes easy for everybody to see whether or not the casino is playing fairly.
Casinos built on the blockchain are provably fair, which means you can see every transaction and game outcome on a public ledger.
The provably fair system uses cryptographic hash seed numbers that are virtually unbreakable. Before any bets are placed, two hash seeds are generated from random numbers and are encrypted by advanced cryptography tech on the blockchain.
The player will receive one seed before the game begins.
It is these hash seeds that represent the outcome of the game. How the seeds work together to reach a game’s outcome should always be explained by the operator.
Once bets are placed, and the game is over, the player will receive the original hash seeds in a non-encrypted format. The seeds can be used to verify that the game was entirely fair and random by checking them against the seed you received at the very beginning of the game.
If the game was fair, the seeds would be the same. Now, you can look at the combination of the seed numbers and use the provider’s explanation to learn precisely how the casino reached the end result of the game.
Since they were issued before the player placed any bets, the casino cannot have rigged the outcome.
I know the explanation seems rather complicated, and the technology behind it is complex. However, once you’re playing inside a crypto casino, the provably fair system becomes clearer.
How to Find the Best Bitcoin Casinos
As with any new technology online, there are always fears about playing in illegitimate casinos and getting scammed. The blockchain’s transparency makes it much easier to spot scams inside Bitcoin casinos than many traditional ones.
To make sure you’re only playing in the best, most trustworthy casinos, here are some questions you can ask before signing up with a provider.
1. Does a reputable body license the casino?
Legitimate casinos should be licensed by a recognized gambling jurisdiction. For example, the UK Gambling Commission is one of the most trusted license providers, so a casino licensed by them would be deemed very trustworthy.
The licenses held by online casinos will usually be displayed prominently. You can enter all license numbers on the relevant governing body’s website to verify their legitimacy.
It is worth researching a particular governing body to find out how reputable it is instead of blindly trusting that all licensing jurisdictions have the same requirements.
2. Is the casino provably fair?
The provably fair concept was touched upon and explained briefly in the previous section. Before depositing funds inside a casino, you should always check for an explanation of their provably fair gameplay system.
A website should have a page that outlines exactly how they provide provably fair games, just like this example from BitStarz casino.
3. Is the casino well-reviewed?
More often than not, your peers are the best people to turn to, which is why looking for reviews of a casino is a must, in my opinion.
Try and find reviews from different sources. Third-party websites like TrustPilot are excellent places to find reviews because these are all user-submitted. Hence, they tend to be less biased than a review on a blog that might have been sponsored or incentivized with affiliate commissions.
4. Is there appropriate customer support?
All of the top casino providers offer high levels of customer support. If a casino has nothing more than an email address, it may be wise to give it a miss.
If something goes wrong, you want to reach a member of their support team as quickly as possible.
Check out the casino’s social profiles to see how responsive they are and look out for phone numbers and live chat options on the website.
The more active a provider is across different channels, the better experience you will likely have when it comes to support.