9 Things to know before you play Bitcoin slots
Ever since the inception of bitcoins and their increasing popularity, many people have switched to bitcoin casinos due to the several benefits it provides to their users. To put it simply, bitcoin is decentralised digital money that is not controlled by any government or banking regulatory body. That is why nowadays, they are now used more in online casinos. However, before playing bitcoin slots, some crucial factors must be kept in mind.
The following article will highlight what precisely a bitcoin casino refers to. You will also learn tips on how to play bitcoin slots safely. So without further ado, let’s get started.
What is a bitcoin casino?
As the name suggests, bitcoin casinos refer to online casinos where you can only use cryptocurrencies to make deposits or withdrawals. The rules and guidelines are almost similar to other online casinos; the only difference is you can play your favourite casino games using bitcoins and also get the chance to win Bitcoins in return. Furthermore, users are also provided total control and anonymity, which has further led to its huge demand in today’s world. There are, infact a series of advantages that the best bitcoin casinos offer, such as,
- Zero fees on a transaction
- Instant payouts
- Free unlimited transactions daily
- No verification is required
- Security of the user’s identity.
Tips And Tricks On How To Get Started With Bitcoin Casinos
Mentioned below are some of the key aspects that you need to remember about bitcoin casinos.
- Verify Slots Bets With Provably Fair Casinos
To put it simply, Provably fair is a type of algorithm that helps players check the credibility of an online casino and its fairness towards its players. Unlike most regular casinos that require third-party auditing to ensure fair gameplay to their users, Provably fair casinos do not require such arrangements. Furthermore, Bitcoin is also the featured currency at these casinos; therefore, you can check the authenticity of your slot wages in a much simpler manner. They heavily depend on blockchain technology to eradicate all forms of cheating and ensure a fun and safe gameplay.
- Bet Responsibly
Another important step every gambler needs to take is to know how to bet responsibly. This holds true not only for bitcoin casinos alone but also for other regular casinos. You should choose an online site that is safe to use, be aware of all your local regulations, and also keep a check on the current value of Bitcoin. Following all these steps will prevent any kind of financial trouble so that you do not end up losing more than you thought. One way of ensuring that you are gambling within your means is by maintaining a record of your daily expenses, such as your rent, the money you spend on food and clothing, and other basics. This way, you can make a betting budget considering all your other expenses. You should also ensure that you stick to this budget so that even if you end up losing all that money, it won’t have any detrimental effect on your overall financial status.
- Making Bitcoin Deposits Is Not At All Difficult
One of the most common problems gamblers face in bitcoin casinos is acquiring BTC. However, it is not at all difficult and, infact, requires only a few steps.
- Visit any exchange site available online where you can exchange bitcoin with fiat. Some of the most recommended ones include Gemini, Kraken, and Coinbase.
- Create your account and link a payment method
- Lookout for options where you can buy bitcoin, and enter the amount that you wish to purchase.
- Depending on the site’s traffic, wait for 15-30 minutes to complete the verification process.
- Once you have completed this step, you will have two options: transfer the BTC to a casino or create a bitcoin wallet. Plenty of tutorial videos are available online that you can check out if you wish to go for the latter one.
- Open your preferred online casino site, and search for their banking area.
- Select the bitcoin option, and get your wallet address.
- Send any preferred amount of money from your Bitcoin wallet to the online casino’s wallet address.
- Wait for 15-30 minutes for the Bitcoin funds to arrive at your casino account.
- Once it has arrived, you can now start playing Bitcoin slots.
- Learn All Bitcoins Slots Denomination
Bitcoin has quite a number of denominations that do not exactly translate to the common fiat currencies. Therefore, if you intend to play bitcoin slots, you must learn how to measure your wagers. The smallest denomination of a bitcoin is satoshi. However, they are so small that they are not even equivalent to the value of a penny. Therefore, one common way to solve this problem is millibitcoin, also known as mBTC. Most online casinos offer mBTC to measure slot bets. Although they might not be the perfect match, they are the closest to the other common currencies, such as the dollar, euro, or pound.
- Choose Reputable Bitcoin Casinos Only
Technology has played a huge role in making online casinos more accessible and user-friendly in today’s gambling world. However, alongside, it has brought several disadvantages as well. One such might include the rampant growth of several online scam sites or unreliable sites. Before you start playing Bitcoin slots, you must understand that not all Bitcoin casinos are safe. Since Bitcoin is unregulated, it is an easy target for most scammers. What’s worse is that most of the time, it can be tough to track them down or punish them. Therefore, you need to check thoroughly and select the best one because, after all, it is your hard-earned money that you will be using.
- Learn How To Withdraw Your Bitcoins Slots Winning Easily
Most online casinos nowadays offer a variety of options, such as credit or debit cards, bank transfers, and e-wallets, among others, to all their users. Oftentimes, it can take longer for certain companies to approve your transactions. However, that is not the case with Bitcoin transactions. They are much faster and approved by Miners. Most of the time, these Bitcoin transactions are conducted within 30 minutes or sometimes even less.
- Get To Enjoy Bitcoin Slots Bonus
Like most other online casinos, many bitcoin casino sites also provide a welcome bonus to all their users in terms of BTC. The exact value of the Bitcoin slot bonus might vary across different sites. However, you can expect an average amount ranging from 0.1-1 BTC. On the other hand, bitcoin casino USA no deposit bonus can also help you try your hands at gambling without adding coins to your account.
- Expect Huge Fluctuations In Your Bankroll
Yet another important thing to note when you are dealing with Bitcoin slots is there have been times when the cryptocurrency has seen as much as 50% fluctuation in one single day. Therefore, if you like to maintain a consistent bankroll value, then Bitcoin casinos might not be the best option for you.
- Variety Of Games Available At Bitcoin Casinos
Although slots are one of the most popular game types played at Bitcoin Casinos, you also have the option to explore several other game types, such as classic casino table games. Developers spend a lot of time and energy making every game as interesting and exciting as possible.
With that said, we have come to an end with Bitcoin casinos. While investing a small sum in kickstarting your casino journey can be a great way, those who wish to try their hands at the game before adding bitcoins to their account can try the offered bitcoin casino no deposit bonus. Hopefully, this has cleared all your doubts regarding the same. If you are looking for some of the best bitcoin casino sites, you should definitely check out the following,