Bitcoin Casino Gambling Site Reviews 2019
Bitcoin Gambling 2019: Table Of Contents
- What is Cryptocurrency?
- History of Cryptocurrency?
- What is Blockchain?
- How does Blockchain Works?
- What is Altcoin?
- What is Cryptocurrency Token?
- How to Buy Cryptocurrency?
- How to Store Cryptocurrency?
- What is Crypto Mining?
- What is ICO?
- What is the Future of Cryptocurrency?
- What is a Crypto Casino?
- Why Crypto Casinos are Popular?
- Benefits of Playing at Crypto Casinos
- Cryptocurrency Gambling
- How to play at Crypto Casinos?
- Types of Crypto Casinos
- What Is Provablyfair Gaming?
- Top Reasons to play at Crypto Casino
- Cons of Crypto Casinos
- Crypto Casino Bonuses and Promotions
- Crypto Casino Games
- Crypto Casino Slots in Detail
- Cryptocurrency Legality in Different Countries
- Is Crypto Casino Legal ?
- Crypto Casino Legality Across The World
- How To Make Deposits & Withdraws At Crypto Casinos?
- Customer Support Service at Crypto Casinos.
- The Future Of Crypto Casinos
- Top 10 Bitcoin Casino Sites – 2019
- FAQ: Bitcoin, Cryptocurrency, Blockchain & Gambling – 120 FAQs with Right and Perfect Answers
- Bitcoin Infographics
Mostly due to its revolutionary characteristics, cryptocurencies have become a massive success in recent times. As a result, Bitcoin and its counterparts have succeeded in gaining traction for more generalized uses just like the fiat currencies.
- They have stoked enormous interest, enthusiasm and fascination among masses because due to their robust technological foundation they have shown them a way to surpass the despondency of every other failed attempts of achieving a dynamic digital cash system that is the need of the time.What follow is a comprehensive guide to the world of cryptocurrencies. Let’s dive in.What is Cryptocurrency?Cryptocurrency is a digital asset that is exchanged electronically and is secured by cryptography. It is an alternate currency that is not issued by any government or is linked to any country.
This decentralized asset is exchanged among people using special codes. The transaction involves no middleman like banks or any credit company.
The cryptocurrency system doesn’t necessitate the revelation of any data related to the parties involved in the transaction. The cryptocurrency uses the state of art cryptography for security and verification of any transaction.
Bit coin was the first cryptocurrency that was created by santoshi nakamoto. Subsequently more than thousand cryptocurrencies have come into existence since the emergence of bitcoin.
All other cryptocurrencies except bitcoin are together termed as altcoins. They are powered by the same fundamental technology that operates the bitcoin.
These are stored and exchanged across a decentralized, consensus based public digital database or more specifically a ledger that is safeguarded or secured not by people or by trust but by extremely difficult mathematical problems know as cryptography.
By the very nature of its revolutionary technological core, cryptocurrencies have the following properties:
- Fast and global
- Permission less
- Finite supply.
History of Cryptocurrency?
Digital currencies have a decent past but the earlier versions were not decentralized currencies. They were strictly centralized. A cursory form of the theoretical construct of cryptocurrencies could be found in earlier forms of digital money.
The technological foundation of cryptocurrencies dates backs to late 80s when an American cryptographer, David Chaum invented an algorithm that remains as the bedrock of the modern web based encryption.
The algorithm enabled secured and immutable exchange of information between parties thus preparing the ground for the electronic money transfer system. He then founded DigiCash along with a handful of digital currency enthusiasts.
This company created units of currency based on the algorithm. But unlike the modern cryptocurrencies, DigiCash was completely centralized as Chaum’s company had full control over the supply of the currencies just like banks.
After a brief period of operation, DigiCash couldn’t retain its glory any further. Shortly thereafter, Nick Szabo developed and released a cryptocurrency named Bit Gold, which was powered by the blockchain system-that underpins most of the modern cryptocurrencies. Like DigiCash, Bit Gold couldn’t further its existence in the field of digital money.
After the decline of DigiCash, much of the research and investment in the domain of electronic transaction shifted to more conventional mode of digital payment technologies.
A handful of companies in the lines of DigiCash did spring up but they did not survive the test of time.
In the United States, the most notable virtual currency of the late 1990s and 2000s was known as e-gold. By the mid-2000s, much of e-gold’s transaction activity was legally dubious.
The platform faced growing legal pressure during the mid- and late-2000s, and it finally ceased to operate in 2009.
After seeing all the centralized attempts fail, Satoshi Nakamoto, a pseudonymous person or group tried to build a digital cash system without a central entity very much like a Peer-to-Peer network for file sharing.
In his announcement of Bitcoin in late 2008, Satoshi said he developed “A Peer-to-Peer Electronic Cash System. “The single most important part of Satoshi‘s invention was that he found a way to build a decentralized digital cash system.
In early 2009, Nakamoto released Bitcoin to the public, and a group of enthusiastic supporters began exchanging and mining the currency.
By late 2010, the first of what would eventually be dozens of similar cryptocurrencies – including popular alternatives like Litecoin – began appearing. The first public Bitcoin exchanges appeared around this time as well.
Dozens of merchants now view the world’s most popular cryptocurrency as a legitimate payment method.
Though few other cryptocurrencies are widely accepted for merchant payments, increasingly active exchanges allow holders to exchange them for Bitcoin or fiat currencies – providing critical liquidity and flexibility.
What is Blockchain?
In an exemplary feat, just as the Internet decentralized information, the blockchain technology is believed to decentralize everything else that’s the part of the global economy.
The financial crisis of 20009 led to erosion of people’s trust in the banks and other financial institutions. Bitcoin was created with the purpose of decentralizing the payment network so that it can be more global, faster transparent, secure and accurate.
A ledger is an active thing that keeps track of our transaction. Unlike any centralized ledger that keeps tracks of our assets, blockchain is similar to a ledger that is decentralized.
Numerous high speed computers that comprise the blockchain network keep track of the digital assets, the record of which is available to all in the clients in it. As each of these numerous computer update the ledger, after every 10 min the blockchain gets updated with a new block.
All these computers called ‘miners’ compete against each other to solve a very energy intensive mathematical problem and the more processing power they possess the greater chance they have of wining.
One of the miners solves the problem after ten minutes and broadcast the block the block to the blockchain for verification and validation. A blockchain is a shared ledger where multiple parties collaborate without having to trust each other.
It is good at three things –transparency, authentication and auditing. Blockchain are mostly adopted by the financial system like corresponding banking, syndicated loans, peer to peer loans, bond insurance etc.
This is also being used in other area as healthcare, education and leisure. All these areas of economy will see greater transparency and trust if blockchain technology is implemented effectively because they will have instantaneous access to all the relevant information that is verified and validated.
It can help in distributed asset trading as the paper trail part will be done away with. Investors can do the trading on blockchain and they will need no auditors as the computers in the blockchain itself serve the purpose.
But it’s also believed that like internet blockchains may see centralized service on top of it as its influence grows. In future economic revolution, blockchgain will be infrastructures in the background.
How does Blockchain Works?
Blockchain means many things to many people. For developer‘s it is the set of protocols and encryption technologies for securely storing data on a distributed network.
For business and finance it is distributed ledger and the technology underlying the world of cryptocurrencies, for technologists it’s the driving force for next generation of the internet, for others it simply a tool for radically changing society and economy as the lead us to a decentralized world.
Blockchain is fascinating many minds as the implication of this technology is truly profound. Blockchain enables people anywhere in the world to trust each other and transact within large peer to peer network without centralized management.
Protocols, cryptography and computer codes bring in the trust between the interacting parties.
The blockchain uses a distributed network of computers to maintain a shared database. This database consists of a series of encrypted blocks that contain data.
The blockchain is a continuous link of such blocks which are secured using cryptography.Entries to this database is made by computers that all have copy of the database and they all come to a consensus before they can update the database.
The three essential concepts to understand the systems working includes blocks and hashing, mining and proof of work and distributed consensus.
This makes blockchain tamper proof and the data stored is generally considered incorruptible. blockchain security methods include public key cryptography.
A private key in the blockchain network is like a password that gives the owner access to his digital assets.
Any computers connected to the blockchain network and using a client can perform the task of validating and relaying transactions. Each of the mining computers gets the copy of the blockchain.
The mining nodes validates the transactions appends them to the block they are building and then broadcast them to other nodes.
If a blockchain technology’s true potential is to be realized, it should work in synergy with data analytics and internet of things.
What is Altcoin?
All other cryptocurrencies other than bitcoins are collectively known as altcoins. These coins emerged into the cryptocurrency scene because bitcoin was not perfect though it still is the numero uno. They are usually better or different versions of bitcoins.
For example litecoin is an alt that carries out transaction faster than bitcoin. Whereas alts like monero and dash focuses on the anonymity aspect that actually makes the transactions nearly impossible to trace.
Each of the altcoin has their own distinctly unique feature or characteristics that make them best over the rest. Not only by the difference in characteristics, altcoins can also vary from bitcoin by the way they are mined.
For example bitcoin uses SHA -256 algorithms whereas litecoin uses the Scrypt algorithm. The lesser known altcoin are difficult to buy and they have fewer wallets that support them.
Until today more than thousands altcoins have been introduced but only a handful of them have gained popularity like bitcoin.
Before investing in any altcoin one should always educate himself with the unique attributes its acceptance among communities and its market caps of the altcoin you wish to invest in.
What is Cryptocurrency Token?
Crypto token represents assets or utility that is fungible and tradable and that a company gives away to the investors during the public sale of ICOs. These could be commodities to loyalty points to even other cryptocurrencies.
In its own ecosystem, it plays lot of roles. Unlike cryptocurrencies, tokens are dependent on the platform where they exist. OmiseGO, Golem etc. are examples of tokens which exist on the Ethereum platform.
Crypto tokens gain value on the basis of their roles, their characteristic feature and their purpose.
By the role of crypto token one means when an individual procures certain tokens, he obtains some amount of privileges inside the ecosystem of the token’s platform.
Creating tokens is a relatively easier process as you do not have to modify the codes from a particular protocol or create any blockchain from scratch.
Simply by following a standard template on the blockchain you can create your own tokens. Smart contracts or programmable computer codes that are self-executing and do not need any third-parties to operate, plays a significant role in the creation of tokens.
Tokens are created and disbursed among the public through an Initial Coin Offering (ICO), which is a way of crowd-funding that aims to fund innovative crypto project.
It is somewhat similar to an Initial Public Offering (IPO) for stocks, with specific distinctions between the two. ICOs are great ways of identifying interesting projects that have the potential to succeed and provide great financial returns.
The main difference between altcoins and tokens lies in their structure; altcoins are independent digital currencies with their own separate blockchain while tokens operate on top of a blockchain that facilitates the creation of decentralized applications.
Let’s examine each of the roles that a token can assume in their native platform:
An individual possessing a particular token gets a certain amount of rights within the ecosystem.
E.g. a specific token might bestow exclusive voting rights to the holders to decide which projects get funding and which don’t.
The tokens facilitates a conducive internal economic system within the crypto project platform that enables the buyers and sellers to trade value within the ecosystem and also gain rewards upon completion of particular tasks.
The token can also allow the holders to further the user experience inside the concerned platform.
Eg. In Brave (a web browser), holders of BAT (tokens used in Brave) get the rights to enhance their customer experience by using their tokens to add advertisements on the Brave platform.
Tokens can be used as a store of value which can be used to carry out transaction.
Tokens enable the equitable distribution of profits or other related financial benefits among investors of a particular project.
The value of a token is directly proportional to the properties that have been discussed above. If it has most of these properties, its value gets higher. Tokens can be classified into two broad categories:
- Utility Tokens
- Security Tokens
As of right now, in comparison to utility tokens, security tokens has a far less share of the market. However, security tokens can become huge thing in the coming years.
It is to be noted that since there is an upper cap on the maximum tokens that are available, the value of the tokens may go up because of the supply-demand equation.
How to Buy Cryptocurrency?
Depending on your needs and purpose, cryptocurrencies can be acquired by a number of means. Having a bank account at a traditional institution makes it easier to buy or sell cryptocurrencies.
In order to procure cryptocurrencies, you may send a wire transfer directly to a cryptocurrency exchange, or transfer cash, use Paypal or credit and debit card and can swap other cryptocurrency for a particular one.
Instead of buying, one can even work and earn bitcoin and ethereum. The market is offering more and more creative ways to turn fiat currency into cryptocurrencies.
The most important thing one should remember before purchasing any cryptocurrency is to have a cryptocurrency wallet set up to store the tokens that are to be procured. Wallets vary in range as per their security features.
Let’s go through the options:
One can purchase cryptocurrencies locally from any crypto enthusiast friend or community using local currency or various other payment methods, or purchase bitcoins online from a trusted crypto exchange site.
This can be especially helpful when one is travelling internationally. Although this process ensures privacy yet it is susceptible to scams.
Bitcoin ATM might just be the service you need when you are in a hurry to procure cryptocurrencies.
These machines generally accept paper cash and they send requisite digital tokens in exchange. These ATM has limited presence and they charge a slightly higher transaction fees.
Another option is to use a more traditional exchange. There are a number of cryptocurrency exchanges, some of which allow traditional fiat currencies to be deposited or withdrawn.
High-volume exchanges are suitable for the exchange of a large amount of tokens or for tokens that require special functionality such as limit orders or margin trades.
Some of the higher volume exchanges include Gdax, Gemini, Kraken, Bitstamp, and Poloniex. It is interesting to note that some cryptocurrencies are more popular on certain exchanges than on others.
A Cryptocurrency exchange ensures fair market prices, with access to hundreds of cryptocurrencies. It provides the flexibility to set limit buys and allow us to watch market movement over time.
On the downside, bank transfers to the exchange may take a long time and the exchange wallets are susceptible to hacks.
Some exchanges are both fiat and cryptocurrency specific entities while others are solely cryptocurrency specific place.
Exchanging blockchain tokens
Once you’ve got Bitcoin, Ethereum, Litecoin, or any myriad of other options, it’s easy to change them for any other cryptocurrency token.
Many exchange & trade services exist with varying degrees of complexity. And the best part is that no complicated sign-up forms are required.
Buying cryptocurrencies with debit and credit is now a convenient affair. Many exchanges are now offering this option, but there are some bitcoin game sites that focus more on selling cryptocurrency for cards. Here is a list of exchanges and sites that offer credit card purchases:
In addition to all of the options mentioned above like cash, bank transfer, Paypal and credit & debit cards, you can buy and sell bitcoin on a platform named Paxful for a huge variety of other means such as rewards points, air miles, and even gift cards.
If you are short on investment funds or looking for a way to earn bitcoin, ether and other crypto tokens, there are several ways to earn cryptocurrency.
They range from activities that require an advanced level of technical know-how such as mining or trading, to more practical approaches like creating your own blockchain related business or freelancing.
Coinbase is the most popular service to buy and sell cryptocurrency like Bitcoin, Ethereum, and Litecoin.
Available in dozens of countries and across the United States (excluding Hawaii, Wyoming, and Minnesota), Coinbase has continuously operated since the early days of Bitcoin – June of 2012 to be specific.
While Coinbase is an easy-to-use consumer service, there are limits on how much can be bought at once, and it may take several days to verify your identity, connect your bank account, and complete your first purchase.
How to Store Cryptocurrency?
Cryptocurrency wallets are programs that allow you to send and receive cryptocurrencies.
However, in order to choose the best wallet as per your needs one should consider a lot of factors and be aware of the functionality of different types of wallets
A cryptocurrency wallet sends or receives cryptocurrencies by interacting with the cryptocurrency blockchain.
The wallet is available as mobile wallet, desktop wallet and even hardware. Like emails, to receive cryptocurrency, one requires a unique personal address.
This unique address is your wallet address, and—just like your email address—you can share it with anyone who wants to send you bitcoin or any other cryptocurrencies.
The important thing about the wallet is the private key which is akin to the password in case of your email. In case of your email, you choose your own password, while with cryptocurrencies, the wallet chooses it randomly for you. One should never share the private keys with anyone.
A private key is just a very long string of alpha numeric characters. The most important thing to remember is that whoever knows your private key has control over your cryptocurrencies.
With the invention of HD wallets, a phrase which is known as a seed or mnemonic phrase which is a set of common words that you can memorize and have a back up of instead of the long and confusing private key is generated that can be used by the wallet holder.
Usually, wallets vary on the basis of their security and convenience aspect. It’s very important to choose the best wallet as per your needs.
You may use more than one wallet for your cryptocurrencies based on your needs.
For example, for large sums of cryptocurrencies, it is advisable to use a hardware wallet whereas for smaller daily payments, a mobile wallet with a small balance on it is fine.
Below is a detailed description of the different types of wallets you can find:
Hardware wallets are devices that serve as wallets for various cryptocurrencies. These wallets are typically cold storage wallets (which means they are offline).
Hardware wallets are typically regarded as the most secure form of storing your cryptocurrency, while remaining somewhat easily accessible.
Software wallet can come in a few different types (see below). These are wallets that are typically ‘hot’ and are frequently connected to the internet.
These wallets can be on your computer, laptop, or phone, and provide ease-of-access to your tokens. You download the software client and then create a wallet. the three types of software wallets there are:
- Desktop wallets For laptops and computers; where the software is installed on your device. You can use a lot of these wallets without being connected to the internet.
- Mobile wallets Wallets for mobile devices (i.e. cellphones); you download an application for your device. These have pretty decent security, and have easy functionality by using QR codes, allowing for quick transactions.
- Online web wallets Online web wallets are wallets you use online, and need an internet connection for. A third party allows you to use their software through the cloud. These are sometimes referred to as “cloud wallets.”
Paper wallets are a wallet form which can hold crypto completely hard copy and undigitized. These are ultimate cold storage wallets for cryptocurrencies.
You pretty much just print out your generated paper wallet (pretty much printing your public and private keys), and lock it up in a safe or safety deposit box.
What is Crypto Mining?
Cryptocurrency mining is the process by which new cryptocurrencies are subsequently introduced into the currency system.
It is also means by which the decentralized public distributed ledger, that is an integral part of the cryptocurrency ecosystem, is digitally updated and maintained by default due to the working of the innovative and revolutionary technological programme.
People who mine the cryptocurrencies are known miners. The miners are required to solve complicated mathematical problems with cryptographic hash functions by using high end computing system.
The miners compete against each other to verify and validate a transaction that occurs on the cryptocurrency blockchain.
The first one to crack the problem gets rewarded with a pre decided amount of any particular cryptocurrency, that are generated by the currency system itself.
The mining process is so sophisticated and robust that after its completion, not only does new coins enters the system for circulation, but the all the transaction related to the particular crypto currencies starting from the beginning are verified, validated and updated into the distributed ledger that is available to all in that network
Miners collect the transactions that are broadcasted on the network and bundle them up into a block.
He then verifies the validity of all the transaction in the block. If any of the blocks contains any invalid transaction, the block will be rejected.
After successfully verifying the transaction in the block the miner has to compute a cryptographic hash in-order secures the network against fraudulent blocks.
This requires a large amount of computing power as hundreds of millions of calculations are processed every second. This process is known as proof-of-work.
Once the miner successfully solves the hash, his block is then relayed to the network to be validated by the consensus rules.
Once accepted, the block is then appended to the blockchain network and the miner is rewarded with set amount of the cryptocurrency.
Mining is a very energy intensive process which needs dedicated computer hardware with a specialized graphical processing unit (GPU) chip or application-specific integrated circuit (ASIC), sufficient cooling means for the hardware, an always-on internet connection, a legitimate software, and membership in both an online cryptocurrency exchange as well as an online mining pool.
What is ICO?
An Initial Coin Offering, also commonly referred to as ICO, is a fundraising procedure in which new projects sell their underlying crypto tokens in exchange for bitcoin and ether.
It’s somewhat similar to an Initial Public Offering (IPO) in which investors purchase shares of a company.
Initial coin offering or ICO is a related topic that needs to be introduced to alongside altcoins. Ico sells coin or specifically tokens to fund any prospective projects.
The general idea is that any project launched by the cryptocurrency company, that has the potential to succeed, will sell the tokens in discount and when the project finally succeeds these tokens can be sold to earn profit.
These tokens are the kick-starters to any crypto projects. The most glaring example is the Ethereum project ico the most disastrous ico is the dao or decentralization autonomous organization.
But ico can be very risky affair. The absence of any substantial regulation on the cryptocurrency market makes things vulnerable. Hence one should do adequate research before investing in such icos as they are new yet speculative form of crowdfunding.
What is the Future of Cryptocurrency?
Over the decade, cryptocurrencies have made a resounding statement in the financial sector even though much hyperbole surrounds them.
According to some, either they herald a high-tech payments era sans interference from the state, or they are a speculative thing which will sooner or later crash and will vanish.
According to proponents, the growth and proliferation of these cryptocurrencies is the evidence that they have catered to the market need for a swifter and more secure payments system with the added attraction of anonymity.
Critics however point out that the instability in the value of cryptocurrencies makes them more of a absolutely speculative asset than a form of money.
Their vulnerability to fraud and hacking make cryptocurrency markets, and markets in cryptocurrency derivatives, highly unstable and susceptible to a crash.
The reality about their functionality is arguably resting somewhere in between these two positions. Although they perform some useful functions, yet they are potentially unstable in a way which could trigger a domino effect in the financial system.
The situation clearly calls for regulatory measures. This would go against the original rationale of cryptocurrencies being decentralized assets.
But, even among promoters of cryptocurrencies, recognition of the role of the state as enabler rather than constrainer is now evident from the efforts to obtain SEC approval for cryptocurrency exchange traded funds (ETFs).
Some central banks have been giving particular attention to the relative merits of blockchain technology as a way of verifying transactions more speedily and efficiently than at present.
Whether it would be a good idea for central banks to issue their own digital currencies with or without blockchain technology is a matter of conjecture.
Central banks are already concerned about the loss of profit from printing money due to the increased use of debit and credit cards over cash and also due to the loss of control where payments are to be made outside the regulatory net.
Digital currency technology has created a new opportunity for payment system independent of the banks and their risk of failure. They have dispelled the anxiety that arise from single point of failure.
Households and firms would be attracted by higher expected returns from private-sector liquid assets, including cryptocurrencies, only to attempt to surge into the safe state-issued money during a crisis. Further, cryptocurrencies hold the particular attraction of anonymity.
While it is highly unlikely that the application of cryptocurrencies will become the standard, international currency, it is very likely that the technology underlying it will become useful for reducing the need for trust, something which the current monetary system heavily depends on.
If cryptocurrencies continue their upward trend, one can easily foresee a restructuring in, e.g. the concept of a bank. Banks currently provide financial services AND act as custodians of customers’ money.
Cryptocurrencies and blockchain technology can potentially allow banking services to be performed without the need to trust banks with your money.
What is a Crypto Casino?
Cryptocurrency casino is a virtual casino, which is the online version of Traditional Casino. In traditional online casinos the form of payments is limited to accepting fiat currencies only.
But, in a cryptocurrency casino on the invention and popularization of Bitcoin, has made it as its primary form of payment.
Thus, Crypto Casino is an online casino that employs Cryptocurrency as their payment method for deposits and withdrawals.
Role of Bitcoins in Cryptocurrency Casino
In the world of bitcoin gambling industry cryptocurrency is a great invention. This virtual or digital coins offer many advantages to both the casino and the player such as better security, fast withdrawal methods and much more.
Bitcoin has helped to make online casinos more accessible. Bitcoins have brought a new competition to the online casino market. Bitcoins with their digital and anonymous nature makes them easily transferable and a perfect source of funding for online gambling.
A traditional online casino requires the user’s bank account information and credit card information, Also has a very lengthy verification process. Coin casino do not take personal details into consideration and also has no lengthy process of verification.
Many Cryptocurrency Casinos require little to no personal information, they commonly ask for piece of information like email address, which implies less possibility to steal the users information.
Switch from Online casino to Cryptocurrency Casino
The reason why an online casino needs to be switched to a cryptocurrency casino is, it has many advantages such as:
- The process to open a cryptocurrency casino takes less time.
- Cryptocurrencies protects the casinos from player’s fraud.
- The use of cryptocurrencies ensures flow of players and expands the market.
- License requirement is not an obligatory unlike the traditional casinos which operates with fiat currencies. But the license provides the level of trust worthy to the users.
- The cost of opening a cryptocasino is comparatively less to a traditional one.
- Cryptocurrency casinos eliminates many inconveniences associated with fiat money and has become an ideal option for online bitcoin gambling.
- The players benefit from this change with a wide variety of payment options with different cryptocurrencies.
The cryptocurrency casinos have only been in the market for few years, but the popularity has grown drastically in a very short time.
One needs to remember the cryptocurrency is relatively new and its online bitcoin gambling is even newer. Each month the bitcoin gambling enthusiasts learn about digital coins and end up heading to crypto casinos.
This keeps the stream of players heading towards crypto casinos steady and thus increasing their revenues. The cryptocurrency casinos are more anonymous ones, which automatically makes it safe when it comes to privacy and data breaches.
Games at Crypto Casinos
Every game which is available or seen at a traditional online casino is also available at the crypto casino.
With so many perks added to it such as plenty of bonuses and promotions, additional features which are provided by the crypto casinos to their players; It’s no surprise which makes many players turn towards it.
A standard casino has games like cards, bitcoin slots and dice, The cryptocurrency casinos offer an assortment of novel games. Other than blockchain based games, the casinos has online imaginable games.
The games at cryptocurrency casinos are largely divided into 4 main groups: they are slot machines, Table games, Sports and Event Betting, Blockchain-based games.
The slot games are the ones which are steadily growing the market, which means most of slot games which are available at an online traditional casino are now available at the crypo casinos with new 3D slots, making it more fun.
The list of coins being accepted at the crptocurrency casino site is long and constantly expanding. Other than bitcoin some other popular alt coins which are being used in the cryptocurrency casinos include Ethereum (ETH), Monero (XMR), Peercoin (PPC).
Dogecoin (DOGE), Litecoin (LTC), DashCoin(DASH), There are some specific advantages to almost all alt coins compared to Bitcoin. The fee options for litecoin and ether are comparatively less to Bitcoin which is certainly attractive.
Some players choose to be anonymous and therefore Monero is a good choice. Each cryptocurrency has its own quality, but none of them have the same network effect, or decentralization, or the team of developers same as Bitcoin. The casinos or players who stick to Bitcoin will be better off in the Future.
Best Cryptocurrency Casinos
To find a best crypto casino is always a matter of personal choice. But to choose a cryptocurrency casino that is rated as good should fulfill few criteria such as:
- It should be trusted by the community with positive feedback,
- Should host provably fair games.
- The games should have graphical pleasant formats.
- A wide range of games and sports events.
- A customer support with prompt services.
- A quick withdraw process.
- With Minimal and casinos free sign up bonus no deposit fees.
- Largely accepted gambling operation license.
Cryptocurrency casinos have exploded its popularity over the last two years. The casino players are making themselves more comfortable with the idea of cryptocurrency and block chain. For a hardcore casino gambler Crypto casinos would be the best place to be at.
Why Crypto Casinos are Popular?
Cryptocurrency is the happening and the buzz word in today’s gambling world. These digital currencies are seen as an investment tool by the traders. They are turning fast as a medium of exchange or a decentralized currency in many parts of the world.
Each transaction done by a cryptocurrency is secured by a cryptography which ensure transparent and hack proof payment process.
In the recent years the value of these cryptocurrencies has raised its bar in value. These cryptocurrencies are now facing restrictions from governments.
However, the digital currencies helped to give rise to a new era of online gambling called as crypto casinos. These crypto casinos have taken iGaming to new level with its super-fast transactions, no charge backs and a provably fair game play.
Bitcoin is the most widely used crypto payment method at the crypto casinos. Each transaction is traceable using the blockchain technology, which also looks into the transparency and security of all transactions.
Bitcoin casinos can send or receive cryptocurrencies without the third party interference. These crypto casinos have an edge over other igaming brands.
The casinos offer a provably fair gaming and total transparency with each outcome of a card deal or a spin of the roulette wheel.
The casinos use the same block chain technology as bitcoin. The crypto algorithms for their games, makes them impossible to decode and tamper with.
Ethereum is a newer cryptocurrency than bitcoin. Many cryptocasinos are accepting it as payment method. In 2018 Curacoa licensed the first ethereum casino.
Ethereum major benefit over bitcoin is its smart contract. It can publicly verify the casino games historical data and can program to return the ethereum winnings to the players crypto wallet.
This made the ethereum casino to earn its players trust and credibility. The ethereum blockchain is being explored by iGaming.
Litecoin which was found by the former google employee, Charles lee has also completed its transactions on a public blockchain ledger.
It is designed with an accelerated block generator, which allows to handle large number of transactions than bitcoin in the same time frame.
Bitcoin Cash does not suffer with a backlog of transactions similar to bitcoin which has 1MB block size limit, but bitcoin cash has zero confirmation transactions.
Its deposits are transferred instantly to online casinos. The transaction fees are at a fraction of the costs of a bitcoin deposit.
Ripples offers a relatively very low transaction fees, private payment data and fast payments. It is easy to send funds online using ripple without the need of a bank. This kind of a payment system and the digital currency is new to the iGaming sector.
The advantages of these cryptocurrencies in online gaming:
- Anonymous nature of gaming
- High secure payments
- Low Transaction fees
- No or minimal taxes being imposed.
- Fast and Easy Transfers.
The disadvantages of these cryptocurrencies in online gaming:
- Volatilty in Cryptocurrency values
- Risk with casinos having no gambling license and regulations
Benefits of Playing at Crypto Casinos
Very often the role of crypto and blockchain is mistaken, and this innovation will make online gambling a more respectable and user friendly place than ever before.
Practically, playing at a crypto casino has a lot more advantages compared to a traditional fiat or money based casinos.
Years back, cryptocurrency and bitcoin were just vague terms for most people. Bitcoin has slowly gained popularity and has become a wide spread form of payment.
Many countries worldwide are not yet legalized with online bitcoin gambling, As a result few banking institutions do not proceed transactions to and from the casino websites, which has left the players with no choice to choose alternative deposit methods.
Due to which bitcoin is now a best option for the players. The transactions do not require the third party or a bank. A credit card or a debit card is not required to make a payment using Bitcoin.
One of the industry where cryptocurrency has marked its identity early is gambling, from being a part of the casinos to sports book. There is enough number of bitcoin casino sites which are operating specifically around gambling through cryptocurrencies.
With the increasing popularity of cryptocurrencies, crypto casinos have emerged large in number the recent years. The crypto casinos allows its players to withdraw and deposit with their choice of cryptocurrency, some of the altcoins the crypto casino supports other than bitcoin are Litecoin, Dogecoin, Ethereum and so.
The obvious danger with cryptocurrency in general is, the volatility of these currencies. For example, Bitcoin which is the largest cryptocurrency is known to fluctuate by as much as 20% in a single day.
You own a bitcoin, play at your favorite crypto casino and can then be down by 20% in a single day, which is entirely based on the value of Bitcoin.
Apart from these, they have clear benefits while playing at crypto casinos, which include:
- It is a bigger pool for players to be at.
- More bitcoin jackpot options available with different crypto currencies.
- An increased privacy options for its players.
- The potential risk associated with cryptocurrency transactions is its non-recognition and prohibition by central banks.
Private or Anonymous
The main advantage of crypto gambling is the high level of anonymity which allows online gamblers to keep things private.
But those who rely on Bitcoins may be disappointed, there are few top secret alt coins like Monero, which is one of the preferred online casino currency.
Crypto players who are using XMR can be assured that no third party gets the access to their personal data and know about the losses and gains.
Cryptocurrencies are the way to go to keep your casino activities at a low key. Certainly they are cryptocurrencies are more anonymous than a Visa Card.
Betting on a centralized platform means that you are taking all their odds, which becomes a single point of weakness for theft and hack. But when crypto is involve in betting, it is often a safer bet, which corresponds to lower fraud risk.
Fair and Transparent
The nature of blockchain is to guarantee that the play is fair, every player can check the outcome of the game that was determined by using random numbers, random seeds or hashes, whether it was tampered with by the casino or its players.
To get an instant and independent verification for each bet placed, you need to enter the bet ID number and few other details on the site and see if it is ok or not.
Thus, making sure that the game is fair and the crypto casino has no interference over the outcome of your bets, which is a good to the Casino.
The better the reputation of the casino, the more players are invited for gambling in the casino. On the other hand every scandal which is associated with unfair gaming is ruinous for the casinos image.
Players with better odds
Any casino in first place gives importance to business, aiming to make more money from their customers. Despite as many people say, casinos don’t cheat you, they have a fixed built in profit on every bet placed by the client.
This is called as house edge or casino’s advantage. This is a trick which guarantees that the house will always win in the long run, by making its business profitable.
There are few websites which offer 0% house edge, called as zeroedge, Zeroedge users has the best chances to win against the house and also can get richer if the zerocoins they hold increase in its value.
The casino is also expected to win, but in a different way, as the popularity for the zero house edge trick increases, their demand for the coin will naturally increase.
As said in many countries, online gambling is not a legalized one and is strictly prohibited, which means banks refuse to proceed with transactions to and from the online casinos.
The cryptocurrencies make a better option for the bitcoin gambling websites. These cryptos cannot be prevented from making deposits and withdrawals, as there are no legal consequences for doing so on them.
The transactions with cryptos are not processed by a third party, which means no need to link a credit card to the players account and pay the transaction fees to the bank.
Coming to the fees, there is no or low fees when compared to what a bank would charge. Adding to it as cryptocurrency is not considered as real money, it is not subjected to tax.
Cryptocurrencies acts as a perfect solution to few problems which arise while trying to fund in an online casino account.
A small amount research on how to fund the casino account using cryptocurrency is the safe, convenient and strongly recommended to players.
Ease of Use or Speed
To get the money in and out of the casino site using the credit card is the major pain, where the bank may deny the transaction or may have to pay an exorbitant fees. To make a transaction with a bank wire, may have to wait a week for the transaction to go through.
But with the use of crypto currencies, the deposits and withdrawals are instant and Using the cryptocurrency as a main deposit or withdrawal processor is inexpensive, adding to it one need not reveal your identity
A credit card number can be hacked from the crypto casino site. But with the cryptocurrency wallet, there is practically no chance of your money being stolen as it ensures a proper security.
Your money stored in a cold wallet is much more protected and secured than using a credit card online.
Gambling with cryptocurrencies in not regulated in most parts of the world and it is worth checking with the local bitcoin gambling laws. Any law that has been applied to gambling with money need to extend its worth before they have any effect on the cryptocurrencies.
Today, online casinos have grown significantly to such an extent, in countries where it is legal has become a billion dollar business. But the problem arises about how fair or unfair are these casinos.
The answer to this is blockchain technology. The best aspect of blockchain technology is its transparency, which means the casino that uses public blockchain allows everything they do completely open to its players.
The idea behind gambling casino is, Firstly, as everything is powered by small contracts which can be audited, letting everyone know what is going behind the scenes.
Secondly, the use of cryptocurrency instead of fiat currency invites thousands of new players each year to this industry.
Cryptocurrency gambling has become really huge these days, most likely because investing in crypto itself is a gamble.
One cannot predict what can happen, you may be lucky enough to make more money or lose a big value overnight. People started using more cryptocurrencies in online betting such as sports, events or casino games.
A study says that about 60% of bitcoin transactions are related to gambling, with nearly about 337 transactions taking place in a second. People have even found ways to bet on the World cup using cryptocurrencies in countries where gambling is illegal.
The reason why cryptocurrencies are being favored more in gambling by people is; transactions takes place faster than the regular payment methods like wire transfer or credit cards, also no transaction fees is required.
Once you own a cryptocoin from the exchange companies. There are many ways to gamble online with them. They include all sorts of options such as prediction markets for weather, bitcoin casinos and many as such.
The bitcoin casinos needs to be licensed under the regulatory bodies from the country where it operates. Many have the license, there are few which do not possess licenses.
A crypto gambling is not anonymous, it is pseudo anonymous which means it is not 100%, but close to 99%. For all practical purposes, crypto is anonymous.
Depositing by a credit card through an account with a gambling site does not keep gambling off your statements, then crypto is the only vehicle.
Most of the crypto casinos offer an innovative thought over the traditional ones known as “Provably Fair”. Provably Fair plays an important role in online gambling with crytocurrencies. It does not allow the casino to cheat on its players.
Buying a crytocurrency is not a much difficult thing, where you can go online and find the answers about the exchanges available and its e-wallet to keep it in. But the interesting part is about its taxing, where not much people know about it.
Every gambling win or lose should be reported. A cryptocoin user should be aware of the tax liabilities imposed on the winnings. No matter what you bet on, each and every win is taxable by law. This can include a prize, cash or a cryptocurrency. Most countries impose 25% tax on gambling wins.
To summarize, Crytocurrencies have its own perks when it comes to gambling such as, the lack of feeds and the speed of transactions, the anonymous nature is its great deal, its privacy features and so.
But one needs to be careful and stay on the safe and legal side, declaring everything you have one or lost, Responsible Gambling.
How to play at Crypto Casinos?
Playing at a Crypto Casinos is as similar as playing in a regular online casino. The main procedures are same for both these casinos.
The only and main difference is that you will be using cryptocurrencies such as bitcoins instead of fiat currencies for payment methods, that implies the withdrawal and deposit procedures are slightly different for both the casinos.
The basic steps needed to start experiencing a smooth process at the Crypto Casinos is as follows:
- Choose and decide on the crypto brand of your choice based on its reviews.
- Register and Sign up with a new account for free and get its confirmation via email.
- Bitcoins in your crypto wallet should be sufficient enough to start playing.
- Bitcoins in your crypto wallets can be added by buying them from the trusted best bitcoin website.
- Go through the bonus information of the crypto casino you prefer.
- Use the bonus codes offered by the casinos.
- Start playing with the games you would love to enjoy and practice without using bitcoins to get used to them.
- After getting used to them, you can bet with the Bitcoins and withdraw your winnings in to your crypto wallets.
Now the question arises, How to buy Bitcoins and play with them?
Though it is not a complicated process, but few basic steps are needed before to play with them.
- Register with the reputed and trusted crypto exchange site.
- Purchase the bitcoins with various payment methods such as credit cards, bank account or so and add them to your Bitcoin wallet.
- Deposit the Bitcoins to your casino account.
- You can now enjoy your play with the crypto games safely and anonymously.
The tricky part is on how to select the safest and easiest bitcoin wallet. These bitcoins wallets are available in three types such as:
- Web based online wallets which are less secured ones.
- Computer based online wallets which are the secured ones.
- Hardware stored wallets which the most secures and safe ones to go with.
The players can find many online and offline wallets on the internet. Based on its reviews you can choose the trust worthy ones. Hardware stored wallets are the best and safest ones as they cannot be hacked and keeps your bitcoins safe.
Once the preferred cryto wallet is choosen the next step is about buying the cryptocoins from the crypto exchanges through various payment methods.
The last step is transfer the bitcoins coins from your wallet to the casino accounts opened by you, which is termed as deposit to the casinos account.
Once deposited you can now enjoy playing the games of your favorite at the casinos and place bitcoins on them and the winnings are transferred to your casinos accounts known as withdrawals.
Enjoy your play at your favorite and trustworthy casinos by following the safe and responsible gaming techniques.
Types of Crypto Casinos
As we all know cryptocurrency casinos are gaining its popularity rapidly. A crypto casino based on the type of currency being accepted at the deposit and withdrawal methods are broadly divided into three types such as:
Hybrid or Partial Crypto Casinos
In a Hybrid or Partial crypto casinos both the cryptocurrencies as well as the traditional currencies are accepted as deposit and withdrawal methods.
Full Blown Crypto Casinos
A full blown is the websites which allow only cryptocurrencies as the method of payments for deposit and withdrawal.
Small scale Crypto Casinos
A small scale crypto casino is not website based and has proprietary software with in house games and accepts crypto currencies as the method of payments for deposit and withdrawal.
The types of full blown crypto casinos, are categorized based the nature of each cryptocurrency and its importance in the gambling world. Let’s look into each of the crypto casino.
Bitcoin Cash Casino
Bitcoin cash is a crytocurrency which was developed in August 2017 is a branch out or a fork of Bitcoin classic, the bitcoin cash helps to increase the size of blocks, which allows more transactions to be processed.
Bitcoin cash differs from Bitcoin classic by the increase in block size from 1 MB to 8 MB.
In a Bitcoin Cash Casino due to its greater capacity there are no transaction fee markets, which means a player depositing at the casino can do it with a transaction fees of just few cents and not as several dollars using a Bitcoin.
Few best Bitcoin Cash Casinos are Fortunejack, 1xBit.com, Betchain, 7Bit Casino.
Litecoin is a trusted peer to peer cryptographic currency; it is also the most favorite one in the crypto casinos. It is launched in the year 2011 based on the model of Bitcoin.
Litecoin works on an open source global payment network which is not operated by any authority or central government. A litecoin can produce 4 times as much block than a Bitcoin.
In litecoin casinos the transaction processes are much faster than bitcoin. The deposits and withdrawals at the litecoin casinos are faster which makes it an advantage to the casino. Few best Litecoin Casino are Bitstarz, mBit, FortuneJack.
Ethereum is an open source, public crypto coin which features a function called smart contract to operate the blockchain based computing platform.
It was proposed in late 2013 by Vilatik Buterin. It supports the modified version of Nakamoto Consensus. Ether accounts are pseudonymous which means they are not linked to individual person, but to one or more addresses.
In an Ethereum Casino the deposits and withdrawals are fast and in much shorter time frame, its smart contract technology makes it the best crypto to be used in casinos.
Few best Ethereum Casinos are Fortunejack, mBit, 1xBit.com, Betchain, 7Bit Casino.
Ripple which is created by Ripple labs is a real-time gross settlement system, currency exchange and remittance network, which is also an open source crypto coin.
Ripple helps to enable secure, instant and free global financial transactions of any size with no fees. This crypto coin termed as XRP was launched in September 2018 and is the second largest in market capitalization.
In a Ripple casino the transactions are faster and are more secured. Its rapid transaction speeds makes it a currency of choice in many famous crypto casinos. Few best Ripple Casinos are 1xSlots, Betcoin, Bitsler.
Dash is another peer to peer cryptocurrency similar to Litecoin, which also has an open source platform and offers instant and private transactions.
It is a form of Decentralized autonomous organization run by a set of users called master nodes. It was launched in January 2014 by Evan Duffield as Xcoin and is a fork of the Bitcoin protocol.
In Dash Casinos a wide variety of games are available for its players, as the price of the currency is rising astonishingly to new levels lately.
Most of the Dash casinos are provably fair. Few best Dash casinos are FortuneJack, Betcoin, 1xBit.com, 1xSlots, DuckDice.
Dogecoin is also another popular cryptocurrency for online casino players. It is also a peer to
Peer open source cryptocoin which falls under the category of alt coins. It was launched in December 2013 with Shibu Inus a Japanese dog as its logo. Dogecoin is scrypt based and enables fast payments to anyone and anywhere across the globe.
In Dogecoin Casinos the bonuses offered are real, they offer exclusive bold deals, and offer bitcoin casino free spins in addition to the best online casino deposit bonus. Few best Dogecoin Casinos are Fortunejack, Bitstarz, Kingbilly, Bitcoin Penguin.
Monero an open source cryptocurrency was created in April 2014. It focuses on privacy and decentralization. Monero uses an obfuscated public ledger, which means anybody can send transaction but no outside observer can tell the source, amount or its destination.
In monero casinos the transactions can be made in public or the transactions can be hidden, which means the transparency can be adjusted. Few best Monero Casinos are 1xbit.com, SafeDice.com, MoneroDice.net, 999Dice.com.
What Is Provablyfair Gaming?
Are the Crypto Casinos Fair? And the answer to this is, these online casino which uses cryptocurrencies for funding have come up with a new innovative technology called as “Probavbly Fair” technology. This provably fair technology does not allow the player or the casino to cheat in a game.
Transparent gambling is an important factor to a lot of players, and provably fair casinos are the best examples for online gambling.
A casino is considered provably fair only if there lies a mechanism in place, which allows its players to know the fairness of its game process.
The provably fair concept has been elevated with the rise of online cryptocurrency gambling such as casinos, lotteries and other online games where bitcoins or altcoins have been allowed to place bet and receive awards.
In a traditional online casinos the entire process in gaming takes place behind the scenes, where manipulation can be done at the will by the owners of the casinos.
How does provably fair work? The crypto casinos that are provably fair use a function called as cryptographic hash, which is an algorithm that ensure neither the operator at the casino nor the player knows how the deck is shuffled , till it is dealt.
In a provably fair online casinos, the players bet on games provided by the service operator. The service operator publishes a method to verify each transaction in the game.
This is usually done by an open source algorithm for random seed generation, random number generator or the hashing.
Once the game is done or played, its players can use these algorithms to test the games response to his game decision, through which he can evaluate the outcome by using these published algorithms, that is the seeds, the events or the hashes.
The advantage of a provably fair system is that a third party verification or an audit is not usually required. This provably fair system add a degree of trustworthiness to the crypto casinos and can also potentially expose the operator to hacking attempts if any.
The blockchain technology and the good will of the organizers adds up to the provably fair games at the casino. The blockchain technology provides the transparency and immutability, which leaves no possibility for the organizers to cheat its players.
To provide the basic level of fairness, the organizers need to prove the players that the games are working as advertised and there is no room left for cheating. This is done by providing verification tools and publishing the source code in open access.
The demand for provably fair games can be seen by its ever growing number and popularity of the casinos. Online gaming by definition is a risky business where the odds are stacked against player and the thrill of overcoming the chances is what drives the player to these games.
So to conclude, if there is a way to eliminate the possibility of the casino owners cheating its players, then moving to a provably fair platform is very likely and wise to do it.
Top Reasons to play at Crypto Casino
Cryptocurrency is a great innovation in an industry like online gambling. These digital coin payments provide many benefits to the houses and its players.
The top reasons include better security, faster withdrawal processes and a decreased operating costs which is passed to the customer.
The most important feature of cryptocurrency that appeals to the operators of crypto casinos is Security. These service providers are required to store extensive records about its customers on a centralized server.
The data includes all the information associated with any deposits the player has made.
Many online casinos have millions of users worldwide, making it a honeypot for hackers, especially those who are wishing to commit a mass credit card fraud can do a lot of damage if they can comprise the security of one of its centralized database.
But with cryptocurrency payments this is not the case. All the casinos can possibly store the amount a customer deposits in a store which has a public key, which does not require their name, address or card number. This reduces the risk of data being hacked.
Cryptocurrencies do not require a third party or centralized source permissions to authorize funds. At bitcoin casinos the waiting time on withdrawals is considerably lower.
With traditional online casinos take lengthy time to cash funds, which poses some risk to the player as their money remain in a fixed account and out of their control.
The fact that crypto casino players can move their money in and out of the casino accounts easily means there is no need of the bank rolls at a casino. The coins that they leave on their crypto wallets are safe at the level of security.
Using crypto coins to move the funds in and out the casino accounts is cheaper overall and is certainly less expensive for the casino itself. Depending on the cryptocurrency used the fees can be negligible.
The casino does not have to worry about the fees which means they can offer games with higher payout percentages and bonuses for its loyalty players. Thus making it advantageous for both player and casino.
Bonus and Incentives
The cryptocurrency casinos allows for better bonuses which allows them to generate extra revenue without the overheads of visa card and master card fees to deal with.
Bonuses and Juicy incentives can pay out handsomely very often. Bonuses depend on the variety of crtypto currencies and also it may vary due to the volatility of the alt coins.
Cons of Crypto Casinos
Every coin has two sides in a similar way Crypto casinos also has its own Pros and Cons. We have been through a lots of advantages a Cryptocasino has, lets now talk about the cons of the Cryptocasinos.
Volatile Nature of cryptocurrencies
The value of the coin can take either a positive or negative value. At present gambling with Bitcoin is profitable, but what in future when the value of these cryptocurrencies decreases, which means that its exchange rate can move quickly to extreme levels.
If the value moves positively higher than a dollar value it makes it favorable, but if it moves negative then will turn against you. As the cryptocurrency is not backed by a central body the value of it tends to fluctuate a lot more than the fiat currency.
As it runs on an open source called as public ledger and has enough chances to collapse at any point of time due to many reasons.
Though all the funds of the players are stored in cold storage, yet some of the amount is still in air, which can be lost at any point of time and getting the refund of it is not possible.
To understand the nature and applications of cryptocurrency in a crypto casino, one needs to be tech savy to do enough research and study on how the cryptocurrencies work and how they can be used in the online gambling.
They should understand and learn on how to buy them from the exchange companies and transfer it to the casino account to start using them. Any kind of misinterpretations can lead to heavy results.
Many of the online crypto currencies provide their services and operations to only specific countries and areas as they do not wish to fight with the law over things.
Thus it does not guarantee a player its money back if something goes wrong. This is because the legal system does not support the player if he is playing in a casino outside his residence.
Though a casino claims itself to be fully licensed and provides its services throughout the world the games offered by them may not be certified as provably fair which is the most significant disadvantage of crypto gambling.
This is not much seen in a regular online casino. Sadly, the number of crypto casino involved in scams is surprisingly high in number.
Though the casinos provides its players good bonuses and promotions which go together, but the biggest drawback to this enormous amounts is the minimum wage requirements, the users are asked to pay a minimum wage to get the eligibility to withdraw their winnings, acquired with said new free casino bonus.
Most of the casinos do not let you withdraw the bitcoins unless the whole needed amount is fulfilled, but few allows you to with draw your earnings based on Minimum wage requirement percentages, which are usually as high as 35 to 40 times on its rollovers.
Crypto Casino Bonuses and Promotions
Crypto Casinos as a part of its marketing strategy offer various bonuses, bonus codes, bitcoin casino free spins 2019 and bitcoin casino no deposit bonus 2019 attract and get more players to the sites.
They also provide some extra benefits to its players called as promotions. These free casino bonuses has become a tool of marketing for online casinos.
Earlier the bonuses were offered with tricky conditions which made impossible for the players to withdraw their winnings.
But now with an increased competition and licensing authorities pressure, the situation has improved dramatically and made possible to find good number of attractive bonuses with fair conditions and wagering requirements.
A bonus is actually a form of reward a player gets when he opens an account in a casino. The most common form of bonus offered by the casinos is a credit with which one can play with and after fulfilling certain criteria, it will be credited to the account.
Other forms of bonuses include free spins, or cashback , where a return of portions of money is lost. Bonuses also help players to prolong their game and gives a second chance if they lose.
Let’s take a thorough look into what exactly they mean –
A welcome bonus refers to as a reward given to a player when they sign or register an account with the crypto casinos. This welcome bonus an be in the form of a monetary balance or loyalty points, it can also be a chance to free play on one or more casino games.
The welcome bonus are offered by casinos to attract new customers. These bonuses can be available immediately after the sign up process and are usually released when the player makes his first deposit or plays his first game.
In order to encourage its players to sign up and deposit the welcome bonus are offered in the form of funds so as to play with them.
A referral bonus in simple terms means refer a friend and earn some fund. In an online casinos perspective referral bonus broadens its customer base by rewarding its loyal players and asking them to spread the word about the quality of the casino.
The casino earns a new player and you in turn receive a nice reward. The referral bonuses differ from casino to casino, so it’s worth to watch out the best deals being offered by the casinos. Usually the bonuses start around $50 per person and can potentially be as high as $100 or more.
In a deposit bonus the player gets a bonus credit according to the amount he has deposited. Most commonly it is 50% or 100% of the deposit made and at times it can be 200% or 300% or more.
The bonus amount has a maximum limit. They are promoted by offering deals such as “100% bonus upto Euro 100”
No Deposit Bonus
It is a popular so called free bee, especially for players who want to win money without any risk. It is mostly given for registration, where no need to deposit any money. Meeting the conditions of such bonuses is quite usually difficult.
While playing free bonus slots, the players get free spins on few selected popular slots with a prepaid Credit, which means the winnings are not credited immediately to the account.
They form a bonus credit which requires to meet an additional conditions. After fulfilling the conditions only the account is credited with real money which can be withdrawn then.
The casino helps to return a portion of amount lost by the player.
Every casino pampers and softens its top and regular players with some special benefits called as Loyalty Programs.
Most often the benefits include an e-shops with promotional items which can be bought with loyalty points, competition between its players for jackpots, Holidays Abroad or exclusive games.
Few other popular benefits include Lower wagering limits, higher game limits and higher withdrawal limits. As said with Fundamental rights comes Fundamental Responsibilities similarly to enjoy a bonus offered the player need to fulfill its conditions too.
General Bonus Conditions
Bonus allocations and withdrawal are available to the players only after meeting or fulfilling certain conditions, The players need to make sure to carefully read the detailed version of conditions on the casino website.
The customer support team of every casino is available to clarify doubts if any on the conditions not understood.
Few Basic Bonus Conditions are:
- One account per person and only one bonus allowed to it.
- Real personal information should be provided during registrations in order to receive your winnings.
- Bonus amount cannot be withdrawn immediately. It need to be roll over multiple times in the Casino.
- Few games are restricted when playing with bonus.
- Few countries are restricted with bonus.
- Anonymous casino no deposit bonus features maximum withdrawal limits.
- Few bonuses can be acquired by filling a promotion code during the registration process or while depositing.
Awareness about Bonuses
- Always play in a casino with good reputation.
- “The casino reserves the right to change, cancel, remove or refuse any bonus in accordance with its own decision “ is the common formulation seen in term and conditions of many top bitcoin gambling sites.
- If a casino determines not to pay your winnings from bonuses, then you remain virtually powerless.
Crypto Casino Games
Every Crypto Casino is powered by a popular gaming software or a group of top tier software companies, these gaming software providers try and design a unique and a wide range of bitcoin games online to entertain the players.
Here we come up with few such casino technology free games which are provided by the gaming software to the gambling industry.
In Blackjack chance and destiny are the two main elements of the game type. The players need to follow few strategies in the game. The players play Blackjack against dealers.
The aim of the game is to reach a score of 21 with the deck of 52 cards. The player who reaches the sum of 21 with his deck of cards wins the game.
The players need to place the chips on the roulette table which has numbers between 0 to 36. There are several betting alternatives such as between numbers and so.
The roulette wheel starts spinning after the dealer announcing “ No more bets “warning. The winning numbers should match the players bet.
Poker is the most popular and noteworthy game which is a widely played game in online bitcoin poker sites around the world.
Many types of poker games are available but the common aim of the game is to be the owner of the pot which wins the game.
The history of bingo starts from Egypt. The game has no strategy involved to win the randomly drawn numbers. A player is given with one or more cards to match the randomly drawn numbers.
The number of bingo cards issued to the players is limited by the casino.
It can be called as the most popular game of chance. The game has no strategy involved with a 6 sided dice.
The aim of the game is to get the highest sum of two numbers after rolling the two dices. Luck is the most valued one for this game.
A game which predicts the sports event results. It has numerous sports categories and sub betting types. The game works on the results of historical data. Therefore making it less risky than any other traditional casino game.
Esports are the online versions of classical sports games. Same rules are applied to that of physical sports gaming types. Many teams around the globe play these games. The players have chances to be part of the favorite Esports team online.
Lottery is a casino game which is an easy to play. Numbered tickets are given to the players to match the randomly drawn number.
These lottery types and their rules differ accordingly to the lottery types. The player needs to be familiar with each lottery type game and its rules.
Binary Option Trading
Binary Option Trading is a financial trading game which is again an easy to play. The game is all about guessing the result or direction of assets, indices or currency pairs, commodities. Gamblers mostly prefer to play this game.
Keno resembles most of a lottery type game. The gamblers are mostly familiar in playing with it. The game includes cards which are numbered from 1 to 80.
The players pick upto 20 numbers and try to match with the highest number of picks. The win of the game depends on the luck.
In Baccarat a player can either be a player, a banker or a tie. If the hand sums up to more than Ten, the game will be dropped off.
But if the hand sums upto exactly ten then it is Baccarat or zero. The aim of the game is to be higher of the two.
Forex which is an abbreviation of “Foreign Exchange”. It is a Financial trading game, where the profits are generated by the buying and selling of foreign currency pairs.
It has a high risk factor. The gamblers prefer to do Forex trading due to its high risk factor.
Slots are the simplest of all casino games. Players do not require knowing any kind of game rule to play millions of slot alternatives.
That is because all its games resemble each other. The player needs to check the specific bonus and reward rules for each game or slot.
Crypto Casino Slots in Detail
Crypto slots no deposit bonus codes are an important part of both traditional online casinos and crypto casinos. Bitcoin Slot machines available today are comparatively less in number to that of the traditional online casinos. But its jackpots are big.
Top 6 Bitcoin Slot Games
Satoshi’s Secret full HD slot
The Satoshi’s Secret HD slots brings all the digitally infused action to reels which is not seen in fashion before. It is a first ever kind of a slot, which is sending shock waves across the no deposit bitcoin casino usa portals.
Satoshi’s Secret is created by Endorphina. It is a new slot game which is based on the bitcoin phenomenon.
Though it is riding a tidal wave of hype, but a doubt still rises can this game be able to pull off such expansive theme. The game features a strong hacking theme and has a look of green and black heavy , digitized backdrop.
Platinum Lightning full HD slot
Platinum lightning Hd slots are an awesome video slot games which are powered by SoftSwiss. The game does not let you get bored in your spare time.
It has a theme of Ancient mythology, which has the power to inspire people and keep them moving forward. It brings some most powerful and popular mythic characters from Greek, Nordic, Scandavian and Roman mythologies.
The game casts a heavenly spell on the slot lovers. Platinum Lightning has 3 rows and 5 reels of interesting and colorful symbols, which are designed in ancient greek style.
The game has an interesting music which inspires to play the game over again and again.
The Ninja full HD slot
The Ninja chef free slot machine is powered by iSoftBet’s , which comes with 30 adjustable play lines , 5 reels and 3 rows.
The game has a theme to meet the chef who cooks delicious sushi in ninja style. It’s all about helping him and winning your prizes.
Ninja slot provides to discover the fascinating world of Ninja, with immerse and utterly fun, an Endorphina video slot game.
The slot has some stealthy action, bonuses, beautiful animations and free games throughout. The Ninja gives you an all in one experience and takes you to the world of beauty and excitement.
Book of Pyramids full HD slot
Book of Pyramids is powered by BGAMING, and has a marvelous penny slot. The journey with the game is tough and full of challenges at each and every step.
But also makes it rewards more tastier. It is Full HD slot with 5 reel non progressive , 9 payline slot with a theme of Ancient Egypt and featuring its traditional symbols and characters.
The aim of the game is to spin the reels so that the symbols display a form of winning number along the paylines. Scarab is a special symbol which substitutes any other symbols and activates free spins respectively.
Greedy Goblins full HD slot
Greedy Goblins is powered by Betsoft casino game developer , The progressive jackpot has 5- reel, 3-row and 30- payline.
It is a magic themed game which features rich payouts.The whimsical theme and the amazing graphics performance is appreciable.
Greedy Goblins is designed on the Stellar Slost3 platform. It is an interactive and engaging game with stereo sound effects and high quality graphics.
The game action takes place in a magical and mysterious forest. A player can find himself immersed in the game. A goblin keeps a watchful eye on every move a player makes in the game.
StarburstTM video slot
Starbust is powered by NetEnt’s which is the biggest and renowned game. The game is a very popular one among the players and makes it players to return again and again.
It is a video slot with full of sparkling gems. The slot offers sparkling jewels and gemstones in different colors. It is a very basic video slot with not many extra features or animations.
The background has various shades of purple with sparkling and glowing stars across the page. The music is not something to be amazed by.
The game offers a feature called as Win both the ways, which means the wins are counted both the ways that is left to right and right to left.
Cryptocurrency Legality in Different Countries
The rise of the cryptocurrencies dramatically in the past few years has caught the eye of the regulators to surprise. The governments of the entire world are trying and scrambling on to develop laws and guidelines for these cryptocurrencies and their applications.
The legalities and the laws of cryptocurrencies around the world:
In Albania cryptocurrencies are legal and its government is on the fence or these digital currencies are unregulated. The bank of Albania has warned to be cautious during the regulation of crypto currency.
Crytocurrencies are illegal and totally banned in this country. Using crytocurrencies results in being punished.
Antigua and Barbuda
It is a Global leader of cryptocurrencies, which are legal. But these cryptocurrencies are unregulated yet.
Cryptocurrencies are on the fence, where they are accepted as legal, but yet to be regulated.
Cryptocurrencies are on the fence, where they are accepted as legal, but yet to be regulated. The government is waiting to see how the other states regulates these digital currencies.
It is a Global leader of cryptocurrencies, which are legal, But these cryptocurrencies are subjected to capital gain tax.The cryprocurrency agencies must be registered with AUSTRAC.
Austria is in the process and working towards cryptocurrencies which are legal and Its regulations are tight which are proposed in 2018.
Cryptocurrencies are on the fence, where they are accepted as legal, also the currencies are regulated. Its regulations are being drafted and its central bank has advised for caution.
It is a Global leader of cryptocurrencies, , which are legal and the currencies are regulated. Regulations change depending on the how the cryptocurrency is used as security, commodity or currency.
The cryptocurrencies are not legal and are banned in this country, but the citizens are allowed to invest outside of Bahrain.
The cryptocurrencies transactions are not legal and are banned in this country, Any transaction with cryptocurrencies is punishable by imprisonment up to 12 years.
Cryptocurrencies are on the fence, where they are accepted as legal. Its central bank expresses positive attitude but no actions taken yet.
It is a Global leader of cryptocurrencies, which are legal and the currencies are regulated. The income which is generated by operations cryptocurrencies is exempted from tax.
Cryptocurrencies are on the fence, where they are accepted as legal. The government is waiting for guidance from EU.
Cryptocurrencies are on the fence, where they are accepted as legal. The currencies are also regulated.
The cryptocurrenies in this country are banned and are not legal. The government have termed the bitcoin as “pyramid scheme”.
The country is hostile with these currencies, they are legal, but the exchanges are not regulated. The country do not classify cryptocurrencies as financial assets.
The cryptocurrencies are on the fence. They are legal, but not regulated.
The country is improving on cryptocurrencies, where the currency is legal, and they are treated as financial assets, It is also an EU member.
Cryptocurrencies are on the fence, But they are not accepted as legal. The central banks do not permit cryptocurrency transactions.
It is a Global leader of cryptocurrencies, which are legal and the currencies are regulated. The cryptocurrencies are subjected and liable to income tax. These digital currencies are regulated under AML/CTF Laws.
It is a Global leader of cryptocurrencies, which are legal. But the cryptocurrencies are not regulated.
Cryptocurrencies are not legal and banned in this country. In 2018 Feb, the government blocked all the domestic and foreign cryptocurrency exchanges. Ctyptocurrencies are not legal tender in China.
Cryptocurreny are on the fence and the government has announced it as neither outlawing nor accepting cryptocurrencies.
The cryptocurrency is hostile in this country. The currency is legal, they are not legal tender and is not supported by central bank. They are regulated by AMF/CTF laws.
The currency is on the fence, it is EU member. The currencies are legal, but it has not gone beyond that.
The currency is on the fence, it is EU member. The currencies are legal, the central bank has warned about its risks.
The cryptocurrency is hostile in this country. The government has moved down on illegal bitcoin use, including taxing its transactions. Exchange currency must identify its customers.
It is a Global leader of cryptocurrencies, which are legal. But are not classified as legal tenders. It is tax deductible, all the profits are subject to tax. It is EU member.
The cryptocurrency is hostile in this country. The currencies are legal, they are also regulated and not legal tender. It is EU member.
Cryptocurrencies are not legal and banned in this country, but it is not authorized as a means of payments for goods and services. The sale and purchase through internet is not prohibited.
Cryptocurrencies are not legal and banned in this country. Bitcoin is prohibited under Islamic law and has been declared haram.
The cryptocurrency is hostile in this country. The currencies are legal, but they are not legal tender. But the currencies are not regulated.
It is a Global leader of cryptocurrencies, which are legal. The exchange of cryptocurrency is a legal and lawful business. The currencies are regulated by Anti Money Laundering Act and Terrorism Finance Act. The exchanges must be authorized by Financial Intelligence unit.
It is a Global leader of cryptocurrencies, which are legal. Finland is a EU member. The regulatory body of Finnish has declared bitcoin as an asset, and is subjected to income tax liabilities.
France is trying to improve on the cryptocurrencies, where it is pushing for regulations on Europen and International level. The currency exchanges must register with AMF. It is a EU member.
The cryptocurrencies are on the fence ,and are legal. But they are not a legal tender.
Germany is trying to improve on the cryptocurrencies, where the currency is a means of legal payments. It is pushing for regulations on European and International level. The currency exchanges must register with AMF. Tax exemption is provided on the currency.
The cryptocurrency in Ghana is hostile and the currencies are legal. But they are not legal tenders. The central bank do not accept these currencies and advised them as not licensed.
The cryptocurrency in this country is on the fence. The government has not issued any legislation. The bank of Greece has warned on the risks of cryptocurrencies by joining other European regulators.
It is a Global leader of cryptocurrencies, which are legal. The members of ECCB pilot will test cryptocurrencies alongside national fiat.
The cryptocurrency in Guatemala is hostile and the currencies are legal. But they are not legal tenders. The government is advises strongly against the use of cryptocurrencies.
The cryptocurrency in this country is on the fence. The currencies are legal. But they are not a legal tender and are not regulated.
It is a Global leader of cryptocurrencies, which are legal. Many blockchain companies have moved to Hong Kong. Regulators in Hong Kong are trying to promote innovations on cryptocurrencies.
The cryptocurrency in this country is on the fence. The country has no official regulation. These currencies do not qualify as legal tenders or cash equivalent. Tax is applicable on transaction with cryptocurrencies . It is a EU member.
Cryptocurrencies are not legal and banned in this country. But it is legal for its citizens to own and mine with cryptocurrencies. The Iceland banks prohibit trading with bitcoins according to Iceland Foreign exchange Act.
The cryptocurrency in India is hostile and the currencies are not accepted as means of payment. These cryptocurrencies are technically legal but have tight restrictions. The reserve bank of India has banned on banks and financial institutions with any kind of services with person or business.
The cryptocurrency in this country is on the fence and are treated as commodities. In June 2018 Crypto future trade was approved.The currency os lightly regulated.
The cryptocurrency in Iran is hostile. The central bank of Iran has banned all its financial institutions from handling crypto currencies. Despite being banned Iran is still testing with a state run crytocurrency.
Cryptocurrencies are not legal and banned in this country. Traders using cryptocurrency will be punished to AML Laws.
Cryptocurrencies are not legal and banned in this country. No specific laws to regulate crypocurrencies. Tax rules are applied to cryptocurrency transactions. It is a EU Member.
Israel is trying to improve on the cryptocurrencies, where they are considered to be as financial assets. Capital gain taxes are applied on cryptocurrency trades. Regulations are yet to be implemented.
Italy is trying to improve on the cryptocurrencies, where new regulations are being developed on to classify the use of cryptocurrencies and concerning service providers. It is a EU Member.
The cryptocurrency in this country is on the fence and they are legal. But they are not legal tenders. The central bank has warned on the risks of cryptocurrencies and advised to be cautious.
It is a Global leader of cryptocurrencies, which are legal. They are accepted as the form of legal payment. The currency is legal if they are registered with Japan Financial Services.
The cryptocurrency in Jordan is hostile, which are legal. But the banks and financial services have prohibited in dealing with cryptocurrencies. Its citizens are warned against them.
It is a Global leader of cryptocurrencies, which are legal. It aims to be a Fintech and cryptocurrency hub. The nation has called for global regularization under UN oversight of cryptocurrencies.
The cryptocurrency in this country is on the fence. The central bank of Kenya has warned cryptocurrency as risky. It is not a legal tender, but are also not illegal. At present it is unregulated but has plans to draft regulations in 2018.
Korea South is trying to improve on the cryptocurrencies, where they are legal but not a legal tender. Trading anonymously is prohibited. All its exchanges must be registered with Financial Supervisory services. The currency in a short span has become popular and widely available in South Korea.
Latvia is trying to improve on the cryptocurrencies, where it is accepted as exchange instrument but not as a legal tender. The currency must meet monitoring requirements. It is a EU Member.
The cryptocurrency in Lebanon is hostile. Its central bank has prohibited banks and financial institutions, but not its citizens from using them.
Lithuania is trying to improve on the cryptocurrencies, where it has adopted a wait and see approach. The government has introduced new cryptocurrency guidelines in 2018. It is a EU member. It is regulated with AMF and CTF rules.
The cryptocurrency in this country is on the fence. It is the first country to officially declare crytpcurrencies to be currencies in 2014. However, The financial sector monitoring commission has warned the risk of investing in cryptocurrencies. It is a EU Member.
The cryptocurrency in Macau is hostile and they are legal. Similar to china the central bank prohibits ICOs and any kind of involvement with them. Citizens are warned against the cryptocurrencies.
Cryptocurrencies are not legal and banned in this country. Its existing laws prevent overseas investments.
Malaysia is trying to improve on the cryptocurrencies, where trading is allowed but the currencies are not recognized as legal tenders. It is regulated with AMF and CTF rules.
It is a Global leader of cryptocurrencies, which are legal. The regulatory development is ongoing, but friendly towards industry. It wants to align itself as blockchain island. Several exchanges have moved from abroad to Malta.
Mexico is trying to improve on the cryptocurrencies, where its regulation bill will be passed in March 2018. These cryptocurrencies are considered as commodities. The exchanges are done under the oversight of the central bank.
The cryptocurrency in this country is on the fence and they are legal. But they are not legal tenders. The cryptocurrency is not regulated and the central bank warns and advises against their use.
Cryptocurrencies are not legal and banned in this country. Us of these cryptocurrencies can lead to penalties and fines.
The cryptocurrency in this country is on the fence and they are legal. The cryptocurrency is not regulated and its central bank warns and advises against their use.
Cryptocurrencies are not legal and banned in this country. Its central bank considers cryptocurrency purchases as illegal. Exchages with these currencies are not allowed to operate.
Cryptocurrencies are not legal and banned in this country. The exchange operators in the past have been arrested.
Netherlands is trying to improve on the cryptocurrencies, where it is considered as the barter system, which means it can be relatively exchanged. The country has no plans to ban cryptocurrency. It is a EU member.
The cryptocurrency in this country is on the fence and they are legal. It is considered as property for tax purposes. The country is working on implementing regulations, but recommends caution to its citizens who are planning to use it.
The cryptocurrency in Nigeria is hostile and they are legal. Its central bank has outlawed digital currency and bitcoin. They have openly pointed out that it can’t regulate the cryptocurrencies. Bank and Financial institutions are prohibited from using them.
Norway is trying to improve on the cryptocurrencies, where it is largely unregulated. It is considered as an asset and is subject to taxation.
The cryptocurrency in this country is on the fence and they are legal. But it is not regulated. its central bank warns and advises against their use.
Cryptocurrencies are not legal and banned in this country. The state bank of Pakistan has banned investment in trading using cryptocurrencies.
It is a Global leader of cryptocurrencies, which are legal. The country is trying to move and recognize cryptocurrency as a legitimate payment method. It is trying to implement regulatory frame work for cryptocurrency companies.
Poland is trying to improve on the cryptocurrencies, where the trading and mining with these currencies is recognized as official economic activity. But it is not a legal tender. It is a EU Member.
The cryptocurrency in this country is on the fence and they are legal. It has a legitimate framework for cryptocurrencies. It is a EU Member.
Cryptocurrencies are not legal and banned in this country. These currencies are illegal at institution level.
Romania is trying to improve on the cryptocurrencies and they are legal. These currencies are liable to income tax. The central banks advise and warn it use.
Russia is trying to improve on the cryptocurrencies and they are legal. Its regulation is being discussed by legislators. Regulations are done under Russian tax code for Minning and circulation of cryptocurrencies.
Cryptocurrencies are not legal and banned in this country. But the kingdom has plans to trade local digital currency between banks.
Singapore is trying to improve on the cryptocurrencies, where trading and exchanges are legal. The country has proposed changes to its existing regulatory framework and is reportedly being discussed as of March 2018.
Slovenia is trying to improve on the cryptocurrencies, where it is largely unregulated. It has stated that bitcoin can be classified as either financial asset or a currency depending on how its used. It is a EU Member.
South Africa is trying to improve on the cryptocurrencies, where it is considered legal but not as a legal tender. The citizens must declare the income derived from cryptocurrency as part of capital gains. No regulations are given regarding exchanges.
It is a Global leader of cryptocurrencies, which are legal. At present there is no regulatory framework, but planning to draft regulation in May 2018.Profits gained from cryptocurrency transactions are taxable. It is an EU member.
The cryptocurrency in this country is on the fence and they are legal. But it is not a legal tender. The cryptocurrency is not regulated. The central banks advise and warn it use.
It is a Global leader of cryptocurrencies, which are legal. The country has no specific regulation in dealing with cryptocurrencies. Its central bank is actively pushing for more widespread of digital currencies.
It is a Global leader of cryptocurrencies, which are legal. They are classified as assets. Exchanges with cryptocurrencies are legal but need to obtain a license from Swiss Financial Market Supervisory Authority (FINMA).
Taiwan is trying to improve on the cryptocurrencies, where no current regulations that are specific for cryptocurrencies. It is regulated by AML rules and is expected to be introduced by Nov 2018.
The cryptocurrency in Tajikistan is hostile and they are not legal. They are also not a legal tender. The central banks advise and warn it use.
Thailand is trying to improve on the cryptocurrencies, where they are legal. The cryptocurrency is regulated and is also subjected to capital gains tax. The regulations are in the process of being developed.
Turkey is trying to improve on the cryptocurrencies, where they are legal. But the cryptocurrency is not regulated. The government has shown interest in developing a national cryptocurrency.
Uganda is trying to improve on the cryptocurrencies, where they are legal. But the cryptocurrency is not regulated. Regulations are being developed by a local UN body.
Ukraine is trying to improve on the cryptocurrencies, where there is no regulatory framework for cryptocurrencies. A working group on regulation was established in 2018.
United Arab Emirates
United Arab Emirates is trying to improve on the cryptocurrencies, where its regulations are confusing and ambiguous, making various steps to regulations. It is regulated by financial regulator of the Abu Dhabi Global Market (ADGM).
It is a Global leader of cryptocurrencies. They are legal, but are not legal tenders. The crypto exchanges require registrations. No particular laws relating to cryptocurrencies. Guidelines on cryptocurrency policy is expected to release in September 2018.
It is a Global leader of cryptocurrencies. They are legal, but are not legal tenders. The crypto exchanges varies from state to state. US is fairly a crypto friendly country. But its tax laws and other details vary from state to state.
It is a Global leader of cryptocurrencies, which are legal. The government encourages the development of BlockChain and Cryptocurrency industries in the country.
The cryptocurrency in Venezuela is hostile. They are legal and widely used in Venezuela. But common and Bitcoin users can be arrested. Venezuela government has introduces its own cryptocoin named Petro.
Is Crypto Casino Legal ?
Is crypto gambling legal? Online gambling is not legalized and no single piece of legislation is covered for the entire world. But most of the countries have their own laws which are dealt at the their legal and regulatory bodies.
These laws are not a standard one and can vary from country to country or one region to the next. That implies what is legal and what is not legal depends entirely on where you reside.
Adding to this the region can amend the laws whenever need making it more complicated.
An online gambling jurisdiction or licensing jurisdiction can be defined as a specific legislation in certain regions that allows them to license and regulate companies which operate online gambling sites or provide industry services.
These Jurisdictions have an organization which is responsible for issuing the licenses and regulating the licenses. These organizations are termed as licensing authorities.
For a crypto casino to offer its services legally to its customers, should hold a gambling or betting license which is issued by an appropriate licensing authority.
The crypto casino has to base at least part of its operations within the jurisdiction where it is licensed, which means most of the casino sites choose their location entirely on the basis of legislation and regularization practices that they have to adhere too.
Most of the online gambling legislations are related to the companies that provide betting and gaming services over the Internet.
Due to which it has become unusual for the government of a country to make it entirely illegal for the residents to use such services.
It is recommended for a player to get familiarized with the relevant legalities where you live in and escape from not being known and break the law.
To be on a safer side learning and understanding the regulatory practices of different jurisdiction is suggested.
Some jurisdiction are strict with their laws and some are very relaxing. One needs to be aware of these laws while choosing the site you wish to play, because the standard of regularization is not the same for all operators.
The players can get an advantage with the sites which are licensed with strict jurisdictions.
Here are few online gambling jurisdictions and licensing authorities:
Alderney has the most strict rules and regulations for its licensees and is the most respectable online gambling jurisdiction. Its licensing authority is Alderney Gaming Control Commission.
Antigua & Barbuda
Antigua and Barbuda is the first region to establish itself an online gaming jurisdiction. The Antigua Directorate of Offshore Gambling is its licensing authority.
Belize is another country which has made an earlier move in the industry with introducing Computer Wagering licensing act in 1996. Belize Computer Wagering License Board is its licensing authority.
Costa Rica is a home to many online sites in the gambling industry. Companies need to have license to operate legally from within the region, but no specific betting and gaming licenses are required. It has a distinct lack of regularization.
Curacao which is now an independent country has online gambling as its central industry. Curacao e-gaming is its licensing authority and it has begun licensing companies for betting and gaming back in 1996 itself.
The online gaming license in Cyprus is issued by the Ministry of Finance The majority of the companies which are licensed with this jurisdiction are exclusively bingo providers.
Gibraltar is one of the leading online gambling jurisdictions. Since 1998 it has been issuing betting and gaming licenses. Many of the casino brands have chosen to base their operations in the region.
Isle of Man
Isle of Man is an established licensing jurisdiction for betting and gaming online companies. Gambling Supervision Commission is its licensing authority. The rules with the jurisdiction are very strict.
Kahnawake is the first online gambling jurisdiction established in Canada as an Indian reserve. The Kahnawake Gaming commission is its licensing authority and is formed in 1998.
Malta is one of the largest online gambling jurisdiction within the European union. The Lotteries and Gaming authority is its licensing authority. The jurisdiction investigates all prospective licenses prior to approval.
The Panama online gambling jurisdiction was established in 2002 in the form of Online Gaming Act. The Panama Gaming Control Board is its licensing authority.
Crypto Casino Legality Across The World
As we have discussed earlier, Online Gambling do not have a single piece of law which applies to the entire world. Instead most of the countries have their own local laws which deals with the relevant legal and regulatory issues. These laws are not the same for all the countries and vary from one region to other. Also these laws can be amended whenever required by the countries.
Let’s have a look at the online gambling laws and legalities around the world.
The legalities of online gambling are unclear in United States, The Unlawful Internet Gambling Enforcement Act which was passed in 2006 has changed things to some extent. This Act hasn’t specifically made online gambling illegal, but it did make illegal for banks and other financial institutions for the transactions to be processed between gambling sites and US residents. In general an individual who is using a gambling site is not acting illegal. But in recent years the lucky bitcoin casino usa legal changes have been made again, where a number of states have introduced legislation which makes bitcoin gambling legal openly. Some states have also issued betting and gaming licenses to operators which allows to provide services within those states.
The gambling law of United States is governed by three sets of gaming regulations, with one each for local, state and federal entities.
The legalities or the laws related to online gambling in Canada are not clear. It is illegal for any company to provide betting and gaming services to the Canadian citizens without getting the license from the Government. But the law also makes it clear for its citizens that it is not illegal for them to use gambling sites which are located overseas. The individual provinces in Canada regulate gambling in their own regions. In Individual provinces within Canada the reformed criminal code has given the authority to license and regulate in their own way. Few local governments operate their own betting and gambling outlets, this makes the laws more complicated.
United Kingdom has a complete legal and well regulated online gambling. UK residents can the use the services of the sites which are available inside and outside the region. These sites need to be licensed directly by the gambling commission, this provision was introduced in 2014. Before this any sites which were licensed by white listed jurisdictions were able to accept UK customers. The strong regulation with a clear legislation with relatively straight forward laws makes UK region an attractive market for both the operators as well as the players. The only drawback is its high rate of taxes.
Europe though is considered as a single state in terms of economic significance, is made up of many countries which do not have one law or legislation across. But each country is individually responsible for their own legislation. To some extent the members of European Union are governed by the European Commission, which has an impact on what can be done and cannot be done. These countries are generally free to pass the laws as they wish.
As said the online gambling laws in Europe vary from country to country, these laws and legislations are well regulated in few countries and few are very lenient and not well organized.
Australia and New Zealand
The online gambling laws in Australia are primarily covered by the Interactive Gambling Act (IGA) 2001. The act makes gambling services illegal for the Australian companies to provide their services to its residents. But yes few services like sports betting and lottery games are allowed. The Australian citizens can enjoy the services provided by the sites outside the country or overseas.
In New Zealand the online gambling legislation is relatively straight forward. What is legal and what is not legal is clearly defined by the Gambling Act of 2003. Most of the online and betting games are prohibited by the companies based within the region. But the New Zealanders can enjoy the services provided by the sites outside the country or overseas.
Similar to Europe, Asia is also made up of many countries, where each country is individually responsible to their own gambling laws and legislation. There is no one law or uniform legislation across the continent. These laws vary constantly and are vastly different from one country to another. The land based gambling games are completely legal in some parts of the continent and is just the opposite in the other parts of the continent. Few countries allow only specific type of land based gambling games. This inconsistency in terms of gambling laws makes it much complicated.
In most of the South American Countries Gambling is legal, but not in all the forms. For example, In Brazil only horse racing and lotteries are legal. Online gambling with foreign websites is allowed in most of the South American Countries. Few countries have their own regulatory systems in place for the online gambling.
In Africa Gambling is legal throughout the country. In particular, South Africa is a popular destination for tourists looking to play their favorite casino games in a different atmosphere. Many African countries have numerous land based casino games. Few countries in South Africa have passed their legislation in relation to online gambling.
How To Make Deposits & Withdraws At Crypto Casinos?
With the increase in the number of casino players the transition from a land based casino to online casino is also increasing. Online Casinos offer a convenience, ease and enhanced flexibility to its players. But one question that arises to the players is the concern regarding payments in an online casino.
In a traditional or land based casino the customers can exchange the chips they have won for cash just by visiting the cashier box and requesting the chips to be exchanged to cash which are instant and fast, whereas in an online casino which accepts fiat currency for making payments is time taking, on deciding which payment method to be used.
But the advantage of online casinos that accept cryptocurrency over the traditional ones is that the players who want to gamble can go ahead without putting their personal information on the line. This has made the digital currency popular in the gambling industry. Many players has requested the casinos to add the cryptocurrency as the payment options to deposit and withdraw.
Apart from this, players also need to keep in mind that the deposit and withdrawal process vary widely from casino to casino. Every casino sets its own rules concerning payments such as deposit and withdrawal limits, types of currencies accepted, verification procedures, processing time frames and so on.
A little research and understanding on what the casino offers in terms of the payment policies and banking methods is very important to choose the required casino to play.
Now let us understand on how to process a deposit
Once the player has completed his registration process successfully, now needs to deposit in order to join the online action with real money stakes. During the process of registration choosing the currency intended to use is important because in later stages it would not be possible or may incur additional fees to convert from one currency to other.
The deposit procedure is simple and goes as follows:
- Log on to your account and then head to the virtual cashier.
- Click on the deposit button which displays the list with all the supported options.
- Choose the most convenient option and then follow the instructions.
Firstly, players need to input the amount they want to deposit, fill the bank details and then confirm the transaction. When depositing with a debit or credit card, players are prompted to enter their card details , before they proceed to specify the amount and confirm the payment. Deposits with online casinos are usually instant.
Process to collect your winnings or withdrawal
Collecting your earnings placed in betting is as simple as that of depositing, but not as instantaneous as a deposit procedure.
The withdrawal procedure goes this way
- The player needs to sign in to the account and visit the cashier section.
- Click on the withdraw button which displays the list of all the supported options for cash outs.
- The money is usually returned in the same way the player has deposited .
- Many casinos require the players verification before proceeding further which is usually done by sending a verification code via email.
- The player needs to enter the code in the respective field and proceed with the cash out request.
This small delay in verification ensures the gambling operators the right amount has reached the right person. Usually withdrawals take one to ten working days to complete depending on the casino the player chooses. The time frame also depends on the withdrawal method used by the player.
As said earlier players are normally required to undergo the verification process when submitting the withdrawal request for the first time.
Verification is a standard procedure for the reliable and renowned gambling operators, for regulatory and security reasons.
Customer Support Service at Crypto Casinos.
A large number of new crypto casinos are cropping all over the industry these days.
Few casinos, in order to stand out from the crowd will do anything and everything in their power, such as investing in innovative designs, a mix of magic with adventure online casino beauties, few offer online casino slots and games.
But the ultimate thing a casino needs above all is the reliable customer support team.
A dazzling look of the casino may attract the players towards it, but in order to stay long in the race, the casino’s trustworthiness makes an impact.
The reliability and trust of the casinos depends on how responsive, friendly and helpful their customer service agents are.
A helpful and quick responding customer support agent can turn your day around in a casino, especially when you are having issues with money withdrawal from an online casino.
For example, Imagine if you have hit a huge jackpot and facing problems in cashing it out. The first point of contact would be customer service, Of course.
Customer support is the preferable easy to contact, which is available any time of the day and responds quickly.
A Topnotch customer support provides helpful technical support team who listens to the customers plight, offers solutions and takes immediate steps to resolve the issue at hand.
You can also see few customer support teams who seem to rush and dismiss you, may be due to the large number of issues or requests in hand.
If the customer feels he is not being dealt with a kind and helpful manner, is not satisfied with their overall service which can be an unfavorable experience. This kind of gesture can turn the customer against the casino quite easily.
In a customer’s perspective, the value of customer support is realized only when they face issues with their account. Obviously, it is his money which is at stake and has all rights to find out what’s happening.
The best way a customer support can provide its services is by Chat support option, making it available round the clock with 24 hours in a day and 7 days in a week.
By doing this a customer rather waiting for the offices hours to call or sending an email and waiting for response, can directly speak to a trained customer agent and get his issue resolved.
This is very valuable for the customers, as it is a quick and easy one to resolve the majority of issues, when managing an online casino account.
For a customer, a good level of customer support provides satisfaction and confidence to trust the online casino. The online casino should be aware that taking care of their customers is as important as the games and the bonuses they offer to them.
A trained staff should be able to deal with every situation a customer comes up as an issue and provide the best possible service to its customers .
To Conclude, a casino with good customer support team helps to grow its customer base.
The Future Of Crypto Casinos
Most Economists define Money or Cash as the medium of exchange.
From the Era of Barter system to the modern monetary systems, each type of money played its indispensable role in various transaction activities with respect to their own time period.
The Human society in need of more sophisticated exchange good introduced a virtual currency.
This cryptocurrency which is the so called virtual or digital currency is managed by an advanced encryption technology known as cryptography.
The cryptocurrency has taken a leap from being an academic concept to a virtual and existing one, and that is coined as Bitcoin in 2009.
The question raised by many of the economists was, Will this alternative currencies takes the place or be replaced to the conventional currencies, and become as popular as a dollar or an Euro? The answer to this lies in a thorough study or research on these cryptocurrencies.
Bitcoin a form of digital and decentralized currency uses a peer to peer technology to enable functions such as transaction processing and verification, currency issuance.
This decentralized currency frees bitcoin from government manipulation and interference, on the other hand it has no central authority for smooth run or to back the value of Bitcoin.
Bitcoins are created by a digital process called mining, which requires to solve complex algorithms and crunch numbers. These bitcoins are created at 25 coins per every 10 minutes.
The Bitcoins had dramatically started growing and gaining attention of media and significant investors in 2013, it has reached the peaks of 10 times market value which was more than its preceding two months.
This increased market value at its peak has started a debate over the future of cryptocurrencies in particular Bitcoins have raged.
The features which make cryptocurrencies fundamentally different from a fiat currency is, the conventional currency is backed up with full faith and has government credit.
The currency issuance of conventional one is a highly centralized activity, which is under the supervision of nations central bank.
Virtual currency being the other side of conventional currency has no support mechanism. But is still considered as valuable digital asset and is viewed as an investment tool in trading.
These digital currencies have helped to rise online gambling to a new era. The super-fast transactions and provably fair gaming with no charge-backs has taken iGaming to a new level.
As there are no financial institutions to control the rules of the crypto coins. The transactions are completely free or extremely cheap. Apart from this the cryptocurrency is inherited by cryptography which makes it safe and secure.
These crypto coins themselves are fortified with coding, which makes sure that nobody can hack your money from your casino accounts.
The cryptocurrency furthermore allows for easy, fast and secure payments, without the need for the players to give their personal information.
This feature benefits the player foremost thus increasing the demand of cryptocurrencies in the online casinos. The uses of cryptocurrency makes things lot easier in many ways for the online casinos.
To Conclude, the transition of the online casinos to crypto casinos is increasing in number with the increase in use of these crytocurrencies. Can also expect these crypto casinos to raise high in number in the near future.
Women In Cryptocurrency: Top 8 Women In Cryptocurrency [Infographic] – This page is also A Complete Guide on Bitcoin in 2019.
Bitcoin Gifts: Top 10 Bitcoin Gift Ideas [Infographic] – This page is also covers 100+ Bitcoin Gift Ideas for this Christmas & New Year 2019.