Cryptocurrency is the result of computer calculations; electronic registers that store information about how much cryptocurrency a user has and where he transfers it. Cryptocurrency is stored on special electronic wallets.
With the advent of the Internet, there have been periodic attempts to create a digital currency around the world. However, no one trusted these projects—and they did not receive popularity. They were too easy to fake.
The first cryptocurrency, bitcoin, was able to solve this problem with the help of the blockchain. This system is compared to a big book containing all the records of what happens to the cryptocurrency. And each bitcoin owner has an independent, but identical copy of this book in his hands.
The entries in all books are true and identical. Neither banks, nor the government, nor the creator of the cryptocurrency can forge these records. In other words, there is no single controller in the blockchain, the system is controlled by many participants. Built on mathematical calculations, the system protects digital currency from counterfeiting or hacking.
Today, cryptocurrencies are gradually becoming a serious competitor to the traditional financial system. Ordinary modern money issued by central banks is not backed by gold or other precious metals.
Central banks do not control the exchange rate of national currencies, but they can influence the amount of money in circulation and other parameters. Cryptocurrency, compared to conventional currencies, is transparent, and its quantity is limited by mathematical formulas, and not by the interests of states.
An online casino that accepts bitcoin is an online casino that allows you to make deposits and withdraw money in crypto. Any Ukrainian casino that supports the method of payment through a crypto wallet in bitcoins, ethereum (ethereum), Tether/USDT and other tokens is considered a cryptocurrency casino.
Over the past few years, cryptocurrencies have taken root in many areas of business. It is actively used by retail chains, banks, hotels, IT companies, and gambling establishments. More and more companies and individuals are entrusted with this way of paying for goods and services. Some even buy cars and real estate with cryptocurrencies, which once again underlines the weighty popularity and ubiquity of electronic means.
What is a cryptocurrency casino and bitcoins?
Cryptocurrency is a kind of digital currency, accounting for the internal units of account of which is provided by a decentralized payment system that operates in automatic mode. In simple words, it is a system with equal participants, which allows a user located anywhere to receive and send payments without the participation of a bank, as well as other intermediaries. Cryptocurrency is stored on special electronic wallets.
What are the advantages of crypto games
Bitcoin games with withdrawals have advantages due to which they are becoming more and more popular in the gambling entertainment market every day. Among these advantages:
- 100% anonymity;
- fast and secure transfer of funds;
- minimum commission or its complete absence;
- a wide range of machines;
- honesty of the game;
- no risks associated with the loss of personal data;
- the ability to play 24/7, including in demo mode.
Bitcoin games with withdrawals open up all the possibilities of a full-fledged casino for gamblers, but with a certain list of advantages. And one of the most important is safety. When playing in cryptocurrency slots, there is no risk that the user’s personal data may be stolen. This is due to the fact that games with bitcoin and other cryptocurrencies are available to gamblers without mandatory verification. That is, the user just needs to register, make a deposit and choose cryptocurrency slot machines.
It is also impossible not to pay attention to the main feature of the cryptocurrency—high volatility. For players, in the event of an increase in the price of cryptocurrency, this is an obvious advantage. And that’s why. For example, at the end of October 2018, you had several won bitcoins/satoshis on your account, which increased in value by 200% already in January. Thus, the players won a certain amount of bitcoins/satoshi in bitcoin slot machines, and after a while they increased their capital without playing games, but making a profit against the backdrop of an increase in the cryptocurrency exchange rate. However, high volatility is also a minus if the rate of the crypt collapses.
How to choose a crypto
When casino choosing a bitcoin casino, it is important to pay attention to the following factors:
- Availability of licensed games. All software in the operator’s collection must be provided exclusively from certified providers: NetEnt, Igrosoft, Endorphina, Novomatic and other well-known brands.
- Availability of casinos in a particular country. Some clubs block access to players from a number of jurisdictions.
- The number and variety of slot machines. How many bitcoin games are available on the site with the withdrawal of funds, which simulators are more, are their slot machines with live dealers.
- Supported cryptocurrencies. Here, it is important to clarify whether the site has the casino cryptocurrency you need.
- Technical support. How support works, what methods of communication are available with technical support service operators, in what languages consultation/help is provided, average response speed.
- Promotions, bonuses, loyalty program. As a rule, a blockchain casino has a number of attractive bonuses for making a deposit in cryptocurrency.
- Deposit and withdrawal of funds. How easy it is to deposit and withdraw money, whether the operator charges the speed of processing the application.
- Honesty. Does the platform pay out all the winnings, is there an honesty control, which the software is presented in the assortment.
- Player reviews. Another important point is customer feedback on the platform.
These are all the key characteristics that you should pay attention to when choosing a bitcoin casino. Also, do not forget about the convenience of the platform, the availability of a license and a mobile application.