The original Bitcoin casino sprung up on the scene in 2011, a few months after the internet established the initial digital coin exchange, democratizing the value of virtual money. The first sets of these platforms were rudimentary web pages offering only provably fair games like dice and crash.
However, over the years, they have experienced a dramatic evolution. Now, they are not only comparable to traditional fiat gaming hubs, but they are far more diverse in multiple aspects.
In 2014, Antillephone started regulating these platforms, and in 2016, the UKGC started allowing Bitcoin gambling. Now, thousands of such websites exist in the digital sphere, with pop culture icons like Drake heavily promoting their use. In the subheadings that follow, a short guide gets presented regarding this online casino category and why these Bitcoin sites are seemingly taking over this sector.
What Gets Classified as a Bitcoin Casino
In short, Bitcoin casinos found on sites like cryptocasinos.net are gambling sites that accept digital coin deposits and also pay out wins in virtual currencies. That is the essential criteria that a gambling platform must fulfill to earn this label. Nonetheless, most modern ones also differ from standard casinos by hosting games unavailable at fiat hubs, providing far more generous promos on top of unique ones, and stimulating community interaction between users.
Bitcoin Casino Sites Provide Swift Registration
At most high-end fiat online casinos, gamblers must go through a multi-page registration process that entails them providing various personal information. That is so because these websites get regulated by national licensors that must ensure that they follow a country’s tax regulations.
Bitcoin casino hubs do not have to adhere to such laws. Thus, they are free to allow users to sign up for their services by only inputting a username, password, and email address. Alternatively, they also allow registration via social media credentials. Today, most such casinos let everyone log in with their Twitter or Google accounts. Telegram and Discord credentials can also get utilized on most websites. That lowers the barrier to entry and allows potential users to get up and running with the desired operator in a minute.
They Offer Fast, Safe, and Easy Coin Transfers
Credit/debit card transactions may be the most widely-available and used deposit method on Earth. Yet, when it comes to withdrawal speeds, this pick is only slower than a bank transfer, boasting processing times of three to five banking days in the best-case scenarios.
Virtual money, on the other hand, facilitates monetary transactions in minutes. Bitcoin does so within ten on average, and coins like Solana do so between twenty-one to forty-six seconds. There is no comparison. For those worried about security, the terrific thing about digital ledgers is that no one person or server hosts them. These databases get distributed to a pool of hundreds of ever-changing users. It is almost impossible for anyone to change info on them and for it to get universally verified.
Bitcoin Casinos Provide Creative Bonuses
As a rule of thumb, if a hybrid casino lists both a fiat and Bitcoin welcome package, almost always, the latter will be the more attractive of the pair in terms of funds provided and bonus stipulations. Since financial and government authorities do not yet monitor and regulate coin-based transfers and marketing campaigns, gambling operators are free to gift deliver more on-the-house cash for gambling fun.
Furthermore, they have more freedom regarding creating unique rewards. That is why BTC casinos have a reputation for rewarding community interaction on their platforms and social media accounts. They do so through chat rain and various giveaways. Some also frequently host lottery draws and feature perk-rich loyalty schemes that include rising cashback percentages.
Novel & Unique Games Get Housed at Bitcoin Casinos
In the intro to this article, it got discussed that the first Bitcoin casino sites housed primarily elementary games with crude graphics and simplistic gameplay. The most common examples of this genre are dice, Plinko, hi-lo, mines, crash, and limbo. The deal with these and why their appeal persists to this day is that they implement provably fair algorithms that permit gamblers to check the validity of their outcome-generation process.
Modern slots get tested by independent third-party agencies like iTech Labs. Therefore, concerning gaming fairness, slot players must put their faith in others instead of having the ability to discover if everything is on the up and up on their own, like with provably fair titles.
It is vital to mention that on account of the regulatory laxness of international regulators, particularly Curacao ones, their technical game specification standards are not very stringent. That allows their licensees to stockpile their game libraries with thousands of products. These days, stumbling upon a BTC casino with a gaming arsenal of five thousand titles or more is common. Such a lobby, without question, will feature jackpot reel spinners, live dealer tables, RNG-fueled ones, virtual video poker machines, and lotto-style options.
They Facilitate Anonymous Gambling
Despite what some online gamblers may think that gambling in secret is no longer a thing due to Know Your Customer policies, that is not accurate. BTC casino hubs implementing these procedures is not something that their regulator obligates. Most adhere to them to avoid potential hassles in specific jurisdictions that frown upon operators neglecting them. Yet, those who do not care about facing such scrutiny have forgone them or reserved them for only cases when players win substantial amounts.
Moreover, few old-school provably fair sites require that anyone share any identifying info. These casinos often do not have any gambling licenses and chiefly function on a good-faith basis with their players. They do not care who comes from where, as they follow no rules and only allow a few coins.
The downside of utilizing these BTC casinos is that they rarely list alluring promos. And they only focus on provably fair products. Often only featuring just one or two such options. They are niche platforms for hard-core coin gamblers, and their primary upside lies in their aim to build a community feel. Plus, they are super gracious to long-time players.