There is a brand new breed of online casinos hitting the web, and these sites are commonly known as Bitcoin Casinos, and whilst you may already be very well versed with how the standard online casinos work and operate there are a few subtle differences in regards to how some of these casinos have been designed.
The one thing any Bitcoin Casino offers is that players have the obvious ability to utilize the digital currency to not only fund their casino account at these sites but whenever a winning session has been had a player can request their winnings are paid back to them in the same currency.
If you have been wondering if there are any benefits of playing at a casinos that accepts Bitcoin or just want to know the finer points of how these casinos work and operate and what, if any, are the main differences between playing at such a site then below we have answered all of the most commonly asked questions surrounding Bitcoin Casino sites.
What Is Bitcoin?
Trying to understand what exactly this virtual currency is is can be very complicated for some people, however in layman’s terms it is simply a digital or virtual currency, which is free from any one government’s interference, it is not backed by any country or asset and as such it is a completely anonymous way for people to move money around the web.
The coins are stored in something known as a Bitcoin Wallet. This is very similar to a web wallet such as Neteller or PayPal, with people able to safely store their Bitcoins in this wallet which resides on their computer or mobile device.
Setting up a wallet is a very straight forward procedure, and there are many companies out there who will let you sign up to and use their own unique wallet in a matter of minutes, once you have your own wallet you are then able to start sending and receiving Bitcoins.
To actually start accumulating Bitcoins in your wallet you will have to purchase some, you can do this in many different ways using many different banking options, and you will need to visit something known as a Bitcoin Exchange where you will be able to buy and sell and at any time trade your Bitcoins for your own local currency, there are a large and growing number of exchanges online, so finding one to initially get Bitcoins sent into your wallet will not be a long or drawn out procedure.
All currency movements, namely when they are sent from one wallet to another are recorded, not by a person’s name but purely by the wallet they are sent to and from, and this ensures that the integrity of the currency is kept valid and true, meaning that people cannot simply somehow make up Bitcoins and add them to those currently in circulation.
The value of the coins can and does increase and decrease throughout the day, and this is one aspect of using Bitcoins that many people enjoy, as much like any other currency whether digital or a physical currency people can invest in them and make long and short term profits, or simple use Bitcoin to keep their money away from the prying eyes of others.
Bitcoin is a highly secure and very safe type of digital currency, however there have been a few horror stories recently in which exchanges have been attacked or have had Bitcoins stolen or have simply closed their doors, however this is not due to any short comings in regards to the way it works, it is down to the way these companies set up their operation which made them vulnerable to attack.
Should you wish to start using Bitcoin to allow you to gamble online then you can do so in a matter of minutes and we are now going to explain in a little more details the types of Bitcoin Casinos you are going to find available online, the games on offer and a whole plethora of different additional information that will enable you to find a great place at which to gamble online without you having to take any risks when doing so.
Bitcoin Casinos – Completely Anonymous Online Gaming
The beauty of using Bitcoins and also accessing and playing at a Bitcoin accepting online casino site is that you are never going to have to provide the casino with any form of identification documents, as Bitcoin allows you to anonymously move money around the web then the casino sites which accept the currency know and respect the fact you wish to remain anonymous and as such you are never going to have to send them any identification documents.
This may seem very alien to anyone who has played at an online casino before, as you are always going to be asked to send in all manner of documents to prove your identity at any standard online casino site.
However as Bitcoin Casinos usually only accept Bitcoins then the casino site is never at risk of fraud or chargeback’s from players using one of the many available banking options, and as such they will not require you to prove who you are when using Bitcoin as this digital currency is fool proof and once a customer has sent in a deposit they are not able to claim them back in a fraudulent manner and as such the casino is never at risk or is never going to be out of pocket due to fraud.
Bitcoin Casino Credits
Be aware that there are two different ways that you are going to find offered by different online casinos that take Bitcoin in regards to how their respective casino credits system works and operates, and below is an overview of both of these ways.
Play in Bitcoins
Some casinos will let you fund your account at their respective site and then play their games by using fractions of Bitcoins, this gives you full control over the amount you wager on each game and as such with one Bitcoin being quite valuable you will never be forced to play for high stakes, as you can simply play for fractions of Bitcoins.
Play in Casino Credits
Some Bitcoin friendly casino sites will award you with 100 or 1000 casino credits per Bitcoin you deposit into their respective site, you can then play their casino games as you like, and then when you wish to request a winning payout the casino credits you cash out are then converted back into Bitcoins as the rate your purchased your casino credits for.
So for example if you have 200 credits and the casino credit exchange rate you got when you made your deposit was one Bitcoin for 100 credits then you will be sent two Bitcoins back to your wallet in exchange of those 200 credits.
Online Bitcoin Accepting Casino Sites
You are going to find two main types of Bitcoin Casinos, there are those sites which utilize their own unique gaming software platform and there are a growing number of casinos who have now started to utilize one of the better known gaming software platform companies.
If you take a look at some of the websites of the standalone Bitcoin Casino sites that utilize their own in-house gaming software and platforms you are going to be reminded of the very first online casinos that appeared back in the very early years of the 1990’s, and sadly these casino sites offer games which do not look very appealing, in fact the design of these games can put a lot of players off playing them.
Poor graphics, bad playing structures and other aspects of these types of casino games leave nothing to the imagination and if you have seen some of these particular Bitcoin Casinos you may be reminded of some of the very first video games such as Pong and other similar games.
However, ever eager to ensure casino game players are accessing games which look the part, offer excellent graphics, provably fair casino games and giving players access to a huge and growing number of casino games that they want to play we have seen many established casino gaming software platforms make available their gaming suites to Bitcoin Casino site operators.
Below are a couple of the current very well known online casino software companies whose gaming suites are now available to Bitcoin users
BetSoft Gaming Bitcoin Casinos
We have started to see a number of online casinos that only accept Bitcoins using the stunning and graphically enhanced 3D no download gaming platform as supplied by BetSoft Gaming, and as such if you are looking to play on a reliable online gaming platform when using Bitcoins then we have located and fully reviewed one such site which uses BetSoft Gaming as the engine that makes their site tick, this is the mBit Casino site.
If you are interesting in learning just what this casino site has to offer then do feel free to take a look at our mBit Casino Review which will enlighten you on the stand out qualities that this online casino site has to offer you.
Playtech Bitcoin Casinos
Another well know online casino gaming platform that can now be utilized by Bitcoin users completely anonymously is the one available by Playtech. If you have been looking for a casino site that has plenty of casino games that you may have played before then do take a look around as you can now use Bitcoins to play at one or two newly launched Bitcoin exclusive casino sites online.
Bitcoin Casino Games
Let us now finally take a look at the many different casino games that you are going to be able to access and play when you opt to start playing at a Bitcoin Casino site, for additional information please follow the respective links below.
The range of online slot games which you are going to be able to play as a Bitcoin user is to be perfectly honest just as diverse as when you play online at any online casino site, and as such all of the categories of slot games from classic slots to video slot games are going to be at your disposal.
You will need to do some checking out if you decide to play some online Blackjack games at certain online casinos that allow you to fund your casino accounts using Bitcoin as some sites offer high house edge Blackjack games which boast lower than standard payouts, however some sites offer the industry standard payouts which does of course mean you will not be making any compromises when playing Blackjack online using Bitcoins as your preferred banking option.
Much like the Blackjack game section above it is worth paying close attention to the actual Roulette game variants offered at a Bitcoin accepting casino site for there are some major differences in how these games are structured, and you will not want to be forced to play double zero Roulette games as opposed to the much lower house edge single zero Roulette games, so check around from site to site and never make compromises simply due to you wishing to make deposits using Bitcoins.
Bitcoin Live Dealer Games
One final category of casino game which you are fortunately now able to play at some selection Bitcoin accepting casino sites are the Live Dealer casino games which use a live video stream and allow players to place their wagers remotely on gaming tables location in land based gaming and casino sites.
The Live Dealer Casino games are the ones many savvy online casino game players prefer playing as by doing so they are never left questioning the fairness of any casino sites game, as thanks to the live nonstop video stream broadcast from the land base venue they can see the entire gaming playing out in front of them.
On our page dedicated to live dealer casinos that take Bitcoin deposits you will be able to read a lot more on this topic.