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The crypto-casino world offers the opportunity for e-currency holders to try their luck on casino games. Choose one of our GamblersPick Verified operators for safe and fair fun.
WELCOME TO THE WORLD OF CRYPTOCURRENCY GAMBLING!
The online gambling industry is a fast-evolving market that is dominated by fresh innovation and cutting-edge technology. It is no wonder that it is usually one of the first industries to tread where other businesses fear to go. One example of this is has been the Blockchain and cryptocurrency adoption.
WHERE TO FIND THE BEST CRYPTO FIRST DEPOSIT BONUSES?
If you are only starting off in the crypto casino environment, then you will probably want to know where to get the best welcome bonuses to compliment your first deposit at the casino. The casinos listed in this page are tailored for you based on your location, and their rankings are a result of GamblersPick community members who rated their favorite cryptocurrency online casinos.
WHAT KIND OF CRYPTO BONUSES ARE THERE?
Just like regular casinos, crypto-casinos also offer a variety of bonuses players can take advantage of. These bonuses are often quite valuable and offer even bigger boosts than you’d find with operators featuring fiat currencies.
- Welcome bonuses: As with all casinos, welcome bonuses are reserved for new players and are generally the most generous of the lot. These are issued on the first deposit or even on the first few deposits, giving new customers a chance to get a lot of extra funds to play with. In addition to boosting your winning chances, these bonuses also provide players with more to explore what a crypto-casino has to offer.
- No deposit bonuses: Those new to cryptocurrencies and this style of gambling can start with one of many no deposit bonuses offered by numerous operators. Like the name suggests, these bonuses require no deposit and no financial commitment on the player’s part. Usually, you’ll just need to sign up for a new account and the casino will give you a small amount of money to test some games and you can even win some real cash if you get lucky.
- Bonus packages: Package deals are quite popular with crypto-casinos. These bonus packages often include several deposit bonuses, some Free Spins, and sometimes even a small No Deposit Bonus to get the ball rolling. In terms of value, these types of offer are the best there is.
- No wagering bonuses: Although rare, these are the best bonuses you can find. No wagering bonuses are the ones where you can cash out your money whenever you feel like it with virtually no strings attached.
- Cashback offers: More serious players love good cashback offers. In these types of deals, you’ll get a percentage of your losses back at the end of a certain period (weekend, week, month). For example, if you lose 0.2 BTC playing, you could get back 0.02 BTC back, often with no wagering requirements attached.
- Reload bonuses: Offered to all players or on individual bases, reload bonuses are used to keep existing players coming back. In general, these aren’t as generous as welcome bonuses in terms of the amount given out but often feature more favorable wagering requirements and lighter restrictions.
WHY SHOULD I PLAY AT A CRYPTOCURRENCY CASINO?
cryptocurrency casinos offer an attractive, private, alternative to classic fiat currency gambling (which employ Dollars, Euros, Pounds, and other bank-controlled currencies). It presents a new and cutting-edge way of transacting by way of e-currency, which has risen to prominence over the past decade with the rise, fall and resurgence of Bitcoin. Betting Bitcoin is now a common occurrence.
While there are a few online casinos that only accept bitcoin or cryptocurrency (Bitcoin-first providers), more and more of the fiat currency sites are beginning to accept bitcoins and crypto as a part of their long list of payment options, and do not have exclusive interests in e-currency alone.
Digital Gold Rush
Cryptocurrency is commonly referred to as digital gold in the industry. This term has sparked much debate in the investment world as to which asset/commodity is truly the most valuable to own.
QUICK AND SIMPLE GAMBLING
All Cryptocurrency funds are held and recorded on the Blockchain, which is a massive decentralised ledger that records each and every transaction made in that specific coinage. Investors hold their currency in Crypto Wallets in the form of hash codes/keys.
Your crypto key is a personal account number whereby you interact with the Blockchain.
Keep your Cryptocurrency safe
Crypto-wallets are a sure way to secure and hold your cryptocurrency. However, make sure not to lose your private key to your account as the high-security levels means it cannot be retrieved once misplaced.
Once at your chosen crypto casino head to the Cashier as normal to make a deposit. Instead of selecting from one of the classic fiat currency banking methods, you will be able to deposit via cryptocurrency. The casino will then either supply you with their crypto address so you can sanction the payment via your wallet, or you will be able to add your 34 digit hash or public key to your casino profile and verify the transaction by entering your private key afterwards. Once this digital signature is received, the Blockchain will securely verify the transaction and transfer the digital funds over to the casino. You could be playing your favourite casino game within minutes.
Placing a Bitcoin Deposit
This is an easy process which involves 3 easy steps: Registering a profile on the casino, copying the public Blockchain address of the casino and then actioning the payment from your bitcoin wallet using the address. As easy as that.
IN THE BEGINNING WAS THE HASH
crypto casinos came into existence less than a decade ago. With the rise in the prominence of cryptocurrencies as a viable financial channel it soon became evident that there was a gap in the online gambling vertical for crypto casinos. Bitcasino led the pack, unveiling an impressive Bitcoin First platform in 2014. That same year, stiff rivalry was offered in the form of Bitstarz and then by VegasCasino.io a year later in June of 2015. All these brands have remained some of the best bitcoin casinos around.
THE GAMBLERSPICK THUMBS UP
The advantages of playing at Bitcoin/crypto casinos correlate directly with the advantages that cryptocurrency holds over fiat currency. These include:
- Provably Fair Gaming: Ever wondered about the fairness of RNG’s at casinos? Some online crypto casinos offer a method for verifying each transaction made in the game. They will give you access to their open source algorithm for the random seed generation, for the hashing, and for the random number generator used in the game. You can then ensure that the algorithm does not alter based on the bet you have placed, therefore ensuring that the outcomes are genuinely random and fair.
- Catalogued Transactions: The Blockchain is a digital ledger that is spread over many server nodes, worldwide. Each node holds the ledger in its entirety, which means that verifying transactions and funds is easy to do, no matter where you are on the globe. The decentralised nature of the chain ensures that it is free from manipulation in any way. Once transactions are verified and recorded on the blockchain they cannot be reversed or edited. This means that payments can be verified without the fear of later reversals or repercussions, offering both the casino and the consumer complete peace of mind.
- Anonymity: Cryptocurrency accounts and keys are viewed as a separate entity to the holders of the keys. When you make a crypto deposit, the merchant is therefore not as worried about who you are, but rather that your account is valid. As such, blockchain transactions can be done with a degree of anonymity. This means that you can gamble at a host of casinos without having to share sensitive information with the platform. This helps you safeguard your personal information from potential prying eyes.
- Fast Transaction Times: Cryptocurrency transactions are peer to peer based, meaning that they circumvent the need to operate by way of trusted third parties, such as banks and financial houses. This generally speeds up the transactional times, as there is no red tape involved with clearance, etc. Once the funds are verified by the blockchain, the transaction will be sanctioned without delay. Crypto transactions are therefore some of the fastest in the industry enabling both deposits and withdrawals in record times.
- Cheaper and Safer Transactions: The security protocols built into the blockchain are world leading, keeping your funds safe, as long as you keep your wallet and pass keys secure. Transactions done in cryptocurrency are generally quite a bit cheaper than other third-party fiat currency banking methods, especially when transfers are conducted across international borders. Bitcoin, for instance, is the same currency on the same blockchain in the USA, as it is in Japan. Therefore, transactions are treated like domestic fund movements and attract no foreign exchange levies or taxes.
Bitcoin mining is expensive given the power and processing required, the most prominent way of producing Bitcoins is so buy low and sell high, like any other stocks. Holding stock till the right time is key to wise investment and needs much discernment in such a volatile market.
While the list of pros outweighs the list of cons for cryptocurrency, there are a few downsides to blockchain in the gambling context. These include:
- Unregulated Casinos: Due to the fact that the blockchain is unregulated, many Bitcoin casinos do not see the need to have to license themselves. No one is forcing them to regulate at present either. At GamblersPick, we advise you to be very cautious about using such platforms and suggest that you stay away from unlicensed operators altogether, to avoid unnecessary risk.
- Limited Retailers: Cryptocurrency is not as widely used as fiat currencies, which makes the number of vendors accepting payment in e-currency far fewer than those accepting fiat currency.
- Volatility of Currencies: Cryptocurrency is very volatile in its nature. Values of certain currencies can change on a daily basis. This means that the value of your bankroll many vary slightly based on the trends at the time.
WHAT ARE THE BEST BITCOIN CASINOS?
When we talk best bitcoin casino, we automatically speak of some of the best online sites in the world, because accepting Bitcoin at land-based casinos is unheard as far as betting is concerned. There are however casinos in Las Vegas accepting Bitcoin services, including accommodation, gift shop purchases and restaurant meals, however that is where it stops. Two of the more liberal establishments accepting bitcoins, include D Las Vegas and the Golden Gate.
ARE BITCOIN CASINOS SAFE?
Of course, as with anything having to do with money or finance, the question of safety and security may arise. Many casinos offering bitcoin betting are well licensed, meaning that there are industry standard security protocols that must be adhered to. Top casinos will offer Multi-layer SSL encryption to safeguard your data, while the digital encryption of the Blockchain guarantees that all of your transactions remain untampered with.
It is virtually impossible to reverse or manipulate bitcoin transactions. Because transactions before and after each block on the registry are connected to the hash codes of the current block, undoing any processed transaction would result in you having to change the construct of all attached block, before other blocks are added to the chain. This is simply impossible to accomplish with the current rate of transactions on the platform.
Because the blockchain is decentralised, there is no one server that can be hacked, but rather all nodes (spread around the world) would need to be simultaneously hacked in order to attain success.
LEGAL BITCOIN GAMBLING
The legalities of Bitcoin casino gambling are an interesting discussion point given that cryptocurrencies are decentralised and therefore not subject to the same country or state-level regulations as a conventional fiat currency.
A simple breakdown of US online gambling law is that while it is not illegal for a player to gamble online the UIGEA has made it illegal for local banking institutions to knowingly process gambling transactions. Since online gambling in the USA is evolving at a State level, while Federal Law seems to be standing still, the use of virtual currency that does not require a local bank to process the transaction has been a very appealing solution for the gambling enthusiast.
Globally the trend has been much the same. Where the authorities are legislating the use of Bitcoin is as acceptable as any other fiat currency while where there are restrictions placed on depositing via local banks the use of Bitcoin is seen a welcome solution.
PULLING ON PURSE STRINGS
Control of your crypto wealth needs to be made easy. Thank goodness for technology and innovative design. Cryptocurrency is managed by way of digital accounts, called ‘crypto-wallets’. There are various forms of wallets found in the world today, including:
- Desktop Wallets: This is digital software loaded directly onto your PC to administer your crypto transfers.
- Mobile Wallets: This is an application that can be loaded onto your mobile device, to turn your mobile phone into a handy ‘on the go’ wallet.
- Online Wallets: Here, your cryptocurrency wallet is stored in the ether, in cloud form.
- Hardware Wallets: Hardware wallets comprise of USB storage devices and hard drives that store your blockchain keys offline.
- Paper Wallets: This is a literal card tied to a temporary profile. The public key is captured on a QR barcode on the ticket.
Since the inception of Bitcoin, the number of crypto wallets has been growing exponentially every year. Now, halfway through 2019, there are nearly 35 million Blockchain wallet users.
Within the above categories of wallet types, we find that there are hundreds of individual crypto-wallets available on the internet. The problem comes in when trying to discern the good from the bad. For this very reason, we have selected to do the ‘grunt’ work for you. Below is a list of 7 top wallets out there:
This is one of the best overall crypto wallets available. Because the wallet is directly linked to the Coinbase exchange, you can buy, sell, and swap currencies, such as Bitcoin, Bitcash, Etherium, Ripple, and Litecoin. The advantages of this wallet come with its user-friendliness, unfortunately, it holds some security issues. The reason for the security issues is down to the fact that exchanges are targeted by hackers on a regular basis. To date, Coinbase has managed to ward off all major problems in this regard though.
Founded in 2014, BitPanda has become the European brokerage leader in trading Bitcoin within the Eurozone. BitPanda trades in 27 different cryptocurrencies and 4 major fiat currencies, including USD, Euro, GBP, and Swiss Francs. Versatility is key with this wallet.
Trezor is the best crypto wallet when it comes to security because it is a hardware wallet that stores your data offline. It is easy to use! Simply plug and play into your desktop or mobile device. Trezor offers great perks, operating as a wallet, password manager, and two-factor authentication device. You will have to store it in a safe place to secure it from physical theft, because if it is stolen, so is all your cryptocurrency.
4. Blockchain Wallet
Blockchain.info is an online wallet designed to simply hold your Bitcoin keys. You cannot buy or sell currency with it. Separation from the exchange enhances its security, but because it is disconnected on this front, it does make using the wallet slightly more complex.
Electrum is one of the best wallets for desktop computers. It is a software package that is loaded directly onto your Windows, IOS, or Linux operating system. This wallet can work in conjunction with physical wallets for the sake of diversity, but should your PC crash for any reason, you will lose the program and all your data unless you have backed it up for cold storage sake.
This wallet is exclusively designed for mobile devices and integrates well with both Android and iOS platforms. It is probably the best mobile application wallet available. Mycelium puts the power of Bitcoin in your pocket, unfortunately it is a little more complicated to use than easier desktop solutions.
This is one of the top desktop wallet applications available, as you will have access to dynamic intuitive tools, such as graphs and charts. This software allows for both storage and exchange accessibility.
Safest Purchase Options
The safest place to buy cryptocurrency is at a verified and regulated crypto exchange like Coinbase or Kraken, where your transactions are guarded and safe.
WHAT ARE THE BEST BETS IN THE BETTING BUSINESS?
While there are over 1,000 cryptocurrencies in existence, only a handful are really valuable. The top four contenders in the market are also the most popular currencies used in licensed crypto casinos.
Bitcoin is the mother of all cryptocurrency, having been introduced by Satoshi Nakamoto in 2008/09, in an attempt to create a decentralised transaction system that could rival secular banking systems by putting the power in the hands of the people. Bitcoin has the highest value of an e-currency and is set to be the market leader for quite some time.
Know Your Bits
Given the high valuation of a single Bitcoin, it can be broken up into a number of smaller, more affordable bits. In the Betting industry we deal more with mBTC, which is 1,000th of a Bitcoin.
The whitepaper for Etherium was introduced in 2013. It was developed with the express purpose of making cryptocurrency more usable. This e-currency platform (called The Ether) was built expressly for user-friendly customization and for the development of decentralised applications for real-world use.
Ripple is a brand new cryptocurrency which has gained massive strides in the past few years. It is an open-source protocol that is developed with the express purpose of networking businesses together, allowing them to transfer funds over international borders, frictionlessly. The currency name that operates on the Ripple blockchain is called XRP.
Litecoin has been one of the quickest growing coins. It was created by Charlie Lee, an ex-Google employee, who had a vision of creating a lighter version of Bitcoin. While Bitcoin has been seen as a long-term investment currency, Litecoin is stigmatised as a more usable everyday trade currency.
Convert your Crypto to Cash
All cryptocurrency can be converted to cash. You can either sell it on an exchange, trade it person to person, or use a Bitcoin ATM to physically draw cash from your wallet.
WHERE TO FIND EXCLUSIVE CRYPTO BONUSES?
With the amount of stiff competition ramping up in the crypto casino world, it’s no wonder that the bonuses being offered are comparing closely to the most competitive fiat casino establishments. Exclusive bonuses are offered to players playing in BTC or mBTC, which are offered with the idea of maximising one’s gambling time at the casino.
There are no shortages of offers. Simply consult our Bonus Pages for exclusive crypto offers at some of the top casinos around, including Playamo, Rich Casino, Oshi Casino, Bitcasino, VegasCasino, and many more.
Wagering Requirements for Bitcoin Betting
Wagering requirements are common for any type of betting as they allow patrons to experience the array of games on offer while simultaneously protecting the casino from abuse. As each promotion will have its own set of requirements be sure to read the terms to ensure you have the best experience possible.
WHERE TO BUY BITCOINS?
One of the first responses after reading through this article might be – “Where can I buy Bitcoin?” Buying bitcoin and cryptocurrency is a lot easier than you might think. There are three avenues that you might want to try:
1. Cryptocurrency Centralised Exchange: Crypto exchanges, like Coinbase, Binance, Bitstamp, and Kraken will gladly allow you to trade in alternative cryptocurrency for Bitcoin and in some cases allow you to purchase bitcoin with your credit card or e-wallet (PayPal, Skrill, Neteller). If you do not have a suitable digital wallet, most of them will help you create one on the spot. In order to buy e-currency at these exchanges, you will have to submit certain KYC (Know your customer) documents first, in order to complete the registration purpose. This is done for regulation purposes.
2. Bitcoin ATM (BATM) :Throughout the world (USA and Europe predominantly) you will be able to make use of Bitcoin ATMs to buy Bitcoin and other alt coins. You can pay for the credits with your card or insert cash into most of the machines to complete the purchase.
3. Peer to Peer: You can buy Bitcoin directly from another person. This way, you need not submit KYC credentials. It is not safe to deal with strangers in this environment, so we advise that you make use of P2P Exchanges, where the hub will link you with sellers who have been rated for previous transactions carried out on the platform.
If you are new to the crypto-casino world, then why not receive some valuable direction on our site. Do not venture into the unknown on your own! Join our GamblersPick community to read informative reviews by your peers on the best Bit-casinos out.
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