What has driven the rise of Bitcoin casinos?
Over the last half a decade, cryptocurrencies have transformed various industries, mostly on the back of the success of Bitcoin (BTC). From becoming a major disruptor in the finance and tech sectors, Bitcoin and other cryptos are also revolutionizing the online casino realm. So much so, we are now firmly in the era of the bitcoin casino.
One thing casino online customers value is the ability to choose between a wide range of payment methods. Venues that already support credit cards, bank transfers, and e-wallets like PayPal are increasingly embracing Bitcoin. However, something more interesting is happening and some online casinos only accept crypto transactions.
The idea of a Bitcoin casino is new, so what exactly is it?
Perhaps the most important point is understanding the difference between a dedicated Bitcoin casino and a regular online casino that supports Bitcoin. The former is a normal online casino that allows users to deposit and withdraw funds in BTC alongside traditional currencies like dollars and pounds. The latter is a new type of online casino that specializes in cryptocurrency and only supports digital formats.
Here’s a good way to know the difference:
- A regular casino that supports BTC payments: You can deposit and withdraw money by selecting BTC as a payment method. However, the casino will automatically convert BTC deposits into normal currencies like EUR, GBP, or USD.
- Bitcoin casino: This is a specialist venue that only allows transactions in BTC or other popular cryptos. Any winnings will also be paid out into BTC.
Bitcoin casinos have been developed for people who value the ability to carry out every-day monetary movements in Bitcoin. While cryptocurrency casinos are a new concept in the online gambling realm, they are quickly becoming popular. Indeed, the best Bitcoin casinos are often as good as the leading normal online casinos.
Certainly, there are some clear benefits to gambling at a BTC casino. Firstly, all games are equal, including casino classics like roulette, slots, poker, blackjack, and sports betting. The focus on privacy that makes Bitcoin a potent financial tool for payment transactions extends to the online casino world.
When you deposit and withdraw at a Bitcoin casino, there are no personal or financial details involved. This added security is possible because of the decentralized nature of Bitcoin, which means the currency is not attached to any financial institution. Furthermore, because there are no middlemen, BTC transactions for withdrawals and deposits are instant.
Below are the best casinos that specialize in Bitcoin and cryptocurrency transactions:
BitStarz is widely recognized as the best Bitcoin casino and is a competitor for being the best online casino of any kind. Since it arrived in 2014, the venue has been a beacon for cryptocurrency fans in the casino world. In just six years BitStarz has enjoyed substantial growth and is comfortably the most popular BTC casino.
Unfortunately, BitStarz is not available in the UK or USA, but it is popular across Europe. Reflecting its position as a major online casino, BitStarz often has some stellar bonuses. For example, the Welcome Bonus is either 5BTC or 500 Euros, alongside up to 180 free spins. Punters at BitStarz can also choose to pay in regular fiat currencies.
Winz is one of the newest crypto casino specialists and has been operating since 2019. It supports both Bitcoin and Ethereum payments and is becoming popular in the gambling community. Certainly, the large game catalogue covers all types of casino classics, including poker, slots, roulette, and blackjack.
While Winz is not available in the United Kingdom or the United States, it is legal in most other jurisdictions where online gambling is legal. Alongside support for cryptos, Winz also allows deposits and withdrawals in traditional money currencies.