As the popularity of cryptocurrencies like Bitcoin quickly rose in the online market, so too did online casinos. Nowadays, you can easily find online casinos with a quick search on your computer or phone.
What is BTC?
BTC or also known as Bitcoin is the most popular cryptocurrency there is on the market today. Bitcoin holds an impressive value of around tens of thousands of dollars for each of its coins.
Bitcoins can be used to purchase some particular products and services but can also be used to play a bitcoin game.
What are BTC Casino Games?
As the name suggests, BTC casino Games are mostly online casino games that use bitcoins for transactions.
Most of the games you can find in these BTC casinos will usually be ones that you are most familiar with, especially if you frequently go to casinos.
Besides the regular casino games like poker or roulette, bitcoins can also be used for other types of games like online betting, lotteries, and much more.
How do BTC Casinos work?
Just like how traditional casinos work, you will need to purchase some casino chips or buy-ins for you to be able to play casino games. This time though, you won’t be using real cash but will instead be using bitcoins as your chips.
Most bitcoin casinos will cater to new registrations and provide them with the necessary in-house wallet used to store bitcoins.
The amount you can bet on will mostly depend on how much money is stored in your wallet. When you win or lose, the funds will be automatically added or deducted from your cryptocurrency wallet.
Due to how popular BTC casinos are, the mega jackpot of some casinos can reach up to around 500 Bitcoins and, if converted, could be equivalent to millions and millions of dollars.
BTC Casinos will usually have some terms and conditions in regards to the cashing out of your profits. It is highly recommended that you check out the details of a casino first before registering and playing their games.
Are BTC Casino Games Legal?
Depending on the country you are in, using bitcoins for gambling purposes can be deemed illegal. Suppose your government does not allow online gambling of any sort. In that case, purchasing buy-ins using bitcoins is considered illegal, and individuals caught doing so will be prosecuted by the law.
What Games can you Play Using Bitcoin?
There is actually a wide selection of online casino games that you can play with using bitcoins as the main currency. Here are just some of the fantastic games that you can enjoy with your bitcoins:
- Slot Machines
- Sports-based betting
There is a lot more variety when it comes to casino games. You can even say much more than what the traditional casinos offer.
Perks and Drawback of Using Bitcoins in Gambling
Just like anything else in this world, there are certain perks and drawbacks that you can expect from using bitcoins for online casinos and betting sites.
Here are the advantages of using bitcoins for gambling:
- Bitcoins can easily be withdrawn without any extra charges.
- Bitcoins can be stored offline, making them more secure than regular currencies.
- Bitcoins casino offers higher quality games than regular casinos.
- Some games are only available in bitcoin casinos.
- Bitcoins are decentralized, meaning no one has the power to freeze your wallet or take your bitcoins away.
- Any transactions that use bitcoins are not taxed.
- Bitcoins can be transferred almost instantaneously.
- Your personal information is kept safe since bitcoin wallets do not need any type of personal data.
Bitcoins are indeed great due to the number of advantages they have, but there are also some disadvantages to using them as a gambling chip.
- The price of a bitcoin will differ every day because of the limited number of coins available. Still, eventually, the price will settle someday.
- Bitcoin is not yet a basic currency that you can use elsewhere. There are only a limited amount of websites and shops that accept bitcoin as a currency.
Example of Great BTC Casinos
Oshi Casino is one good example of an online casino that uses bitcoins. According to an Oshi Casino review, it has a “perfect reputation rating,” which is considered the best rating any online casino can get. The rating is based on the customer service quality, the terms and conditions fairness, the license, the revenue, the games offered, and any major customer complaints.
The things that make Oshi casino a great place to gamble includes:
- 24/7 Live Chat Support
- Live Dealers
- The website has an easy user interface
- Lastly, bitcoins are accepted.
Since BTC casinos are still new, it is of high recommendation that you try them out to get the basics and tricks on making a profit from them.