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The Real Differences Between Online Casinos and Bitcoin Casinos

If you are new to gambling of any type but are interested in gambling online, you have likely already looked on the web for different casinos and sportsbooks you can play at. If you have found this article, you have searched well — but with hundreds of options out there, you probably need a little help deciding.

One of the most important decisions is whether you want to gamble at a traditional online casino or a Bitcoin casino. As a Bitcoin review and informational website, we can definitely tell you that the safest way to gamble is via Bitcoin. If you don’t have any Bitcoin (BTC), don’t worry — it isn’t as difficult as it may seem to acquire some to gamble.

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First things first: Bitcoin casinos are far safer in terms of transactions, both when depositing and cashing out. At online casinos that use cash, your bank could decline your transaction due to online gambling laws. And your winnings could be confiscated if you are caught gambling via hard (fiat) currency.

However, with Bitcoin, your gambling is anonymous and your funds are never tied to you by name. Nor is your account if you choose the right Bitcoin casino. Using a Bitcoin casino means you can curtail the online gambling laws that exist in places like the U.S., U.K., Australia, and so on — this means Bitcoin gambling is legal (well, it’s a grey area, but no one can take action or take your Bitcoin — they couldn’t anyways since your name and information are never attached to your Bitcoin).

Let’s take a look at more differences between traditional online casinos and Bitcoin casinos to see which is the best fit for you.

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Currency

As we just went over a bit, one of the main differences between online casinos and Bitcoin casinos is the types of currency used to make deposits and withdrawals. Bitcoin casinos are the best bet since they only process deposits and withdrawals using BTC; where online casinos only use credit cards and bank transfers to use hard cash (e.g., USD, GBP, EUR, and so on). Bitcoin casinos only deal in Bitcoins (BTC) for a variety of reasons.

First, there aren’t any transaction fees when you deposit or cash out using BTC. When you gamble on traditional online casinos with other forms of currency, you likely will end up paying transaction or processing fees every time you deposit or withdrawal.

Secondly, processing time for Bitcoin is instant in nearly all cases — but for regular currency, you will wait at a minimum of hours (but more likely days) to process. Many forms of cashing out (like checks) can take weeks. Playing at Bitcoin casinos means that transactions are instant because the deposits and withdrawals simply go directly to and from your anonymous Bitcoin wallet.

Finally, Bitcoin casinos are far safer options to gamble, both in terms of your identity remaining secret and your Bitcoins being safe. Bitcoin transactions are anonymous and highly encrypted, so it is virtually impossible for anyone to steal your Bitcoins. Online casinos, however, are not anonymous and many forms aren’t secure. This makes you more vulnerable to scams or straight out thefts (especially if you use a credit or debit card online).

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Advantages of Gambling at Bitcoin Casinos

When enjoying a Bitcoin casino, you have the ability to win additional Bitcoin with your earnings. Even if traditional online casinos allow you to make transactions via BTC, they will also only offer you the ability to withdrawal with cash only in exchange for the use of Bitcoins.

If you have been taking a look at the value of Bitcoins lately, you will know that its value continues to skyrocket. This means that if you hit jackpots and earn bonuses in BTC rather than other forms of currency, you are winning more money at a Bitcoin casino than you would be at a traditional online casino.

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Withdrawal limits — traditional online casinos often have rules that limit the amount of winnings you can actually cash out per day. The processing time for transactions at online casinos also vary. Players at Bitcoin casinos, however, never have to worry about withdrawal limits and all of the transactions are instant (no waiting).

These are two huge advantages for players who want to win jackpots or high rollers who want to make large wagers without any house restrictions.

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Conclusion: Bitcoin Casinos are Simply the Better Choice

Waiting for funds or your winnings are not fun. Nor is paying fees just to make a transaction — you can avoid waiting and fees by using Bitcoin to gamble. Also, as the value of Bitcoin rises, the BTC you have yet to deposit ends up being valued more than regular currency, which means you end up gambling and winning more money.

There are many differences between traditional online casinos and Bitcoin casinos, but one of the more important parts of BTC casinos (for most players) are: the instant transactions and the anonymous nature of gambling and using Bitcoin at these casinos.

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Understanding the Security Behind Bitcoin Gambling Websites

Bitcoin (BTC) has become a very secure form of currency these days. This cryptocurrency can be volatile, but it has seen a steady rise across a number of industries across the globe — a rise that is the result of what is now a reasonably stable platform. One of the most popular industries to find Bitcoin being used more and often is online gambling casinos — the huge popularity of Bitcoin casinos is partially due to its anonymity for the players and safe transactions using Bitcoin. It’s plain to see how BTC currency is likely to continue rising and remain a stable source of alternative currency around the world.

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How is Bitcoin Anonymous?

The Bitcoin protocol has an anonymous environment (through a P2P, or peer-to-peer exchange network) — this means that Bitcoin transactions and the Bitcoins themselves are never tied to any form of identity, unlike hard (fiat) currency like USD, EUR, GBP, and others. Bitcoins can be bought and stored anonymously in e-Wallets, which do not have any personal information either — nor are they tracked in any way by any agency (such as the government, regulatory agencies, the IRS, banks, etc.).

Bitcoin wallets have also become more and more secure the last few years. While some people may be concerned with the safety of their Bitcoins within their e-Wallets, you really shouldn’t be. There have been some occurrences in the past where there have been large-scale thefts (example: Mt. Gox in 2014), but if you properly secure your e-Wallet and private key, your BTC are safe.

So, let’s take a look now at the security behind Bitcoin itself and how Bitcoin casino and other gambling websites take precautionary measures to keep your BTC safe.

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Security and Encryption with Bitcoin

As you may already know, Bitcoin is the leading cryptocurrency available around the world — because of the nature of digital currencies, cryptography is a key element. The Bitcoin protocol has an incredibly anonymous and secure environment that makes it perfectly accessible to anyone and doesn’t require any personal information at all.

The encryption is called “Proof of Work,” or POW, and this system uses an SHA-256-encryption, which is used throughout the entire verification system. The transaction blockchain is also extraordinarily secure due to its decentralized structure. Decentralized structures have become all the rage in digital currencies these days due to its incredible structure of complete anonymity and the fact that nobody has control over the currency (such as a government).

This is one reason why Ethereum (in which the “coins’ are called Ether) has become so incredibly popular as well — it’s decentralized, completely transparent, not under anyone’s control, and is completely anonymous.

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Bitcoin Gambling Sites

When you are a Bitcoin gambler (or even someone who simply wishes to invest in Bitcoin and keep it as the value rises), this method of gambling is ideal. Especially if you live in the U.S., Australia, the U.K., or other countries where gambling online is restricted using traditional currency — Bitcoin (BTC) offers a way around the law. Bitcoin is not considered a currency because no government owns it — the value is established and rises and falls, but it is not a hard currency, therefore it is a gray area in terms of regulation. This means you are free to sign up and gamble via Bitcoin on most Bitcoin casinos without fear.

Additionally, Bitcoin doesn’t go through your traditional bank, so you don’t have to worry about your money being declined, your credit suffering, your bank knowing your personal information regarding gambling habits, or anyone else knowing. Bitcoin is stored in your e-Wallet and you can deposit and withdrawal funds from a casino using your unique e-Wallet address. Your funds are also offered and accepted instantaneously, which is even better – no waiting time or processing. And everything is completely anonymous.

Be aware, however, that while your Bitcoin is always anonymous, the online Bitcoin casino you sign up with may request personal information — it is up to you whether to give them that or find a Bitcoin casino that is completely anonymous (and there are great options out there for the latter).

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Bitcoin Gambling Sites — BTC Security

In order to retain security within the Bitcoin environment, the trustworthy and reputable Bitcoin casinos websites will help to protect their customers’ anonymity — some casinos can still be trustworthy, but are regulated and licensed and thus, require personal information.

However, the best Bitcoin casinos that offer complete anonymity will allow you to sign up without providing any personal information (for example, simple enter any email address, username, and password you wish). Some Bitcoin casinos even forego the registration process and allow you to gamble using a unique digital address they will give you so you can deposit BTC, gamble, and withdrawal any time.

The entire process at a Bitcoin casino is similar and shows that this cryptocurrency can change the online gambling landscape by offering a truly anonymous and secure environment for players to gamble in. If you have no personal information stored on the online site and you use Bitcoin, which also store no personal information (and is very secure), then you have little-to-no risk of becoming a victim of identity fraud through hacking.

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Wallet Storing

If you want to keep your Bitcoin secure, you must also manage your Bitcoin wallet properly. There are different ways that people store their cryptocurrency, and this will have an influence on how safe your funds are.

Essentially, there are three ways to store your Bitcoin wallets:

  • Print your wallet and store it offline; with both a private and public key printed onto the paper wallet (for obvious reasons, this is not the most commonly used method of securing Bitcoin wallets — if you lose the information, the Bitcoins stored in the wallet will be lost forever)

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  • Hardware wallets are a more concrete form of securing your wallet and is the most secure. If you have invested in a lot of BTC and worry about keeping your investment safe, this is a common way of doing so. The information is kept completely offline in hardware and all of your key data will be stored in a protected area of a microcontroller. That protected area is immune to software and viruses, which means it cannot be stolen. However, again, if your hardware is lost or destroyed (like in a fire), you may not be able to recover your funds.

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  • Finally, Bitcoin wallets are stored online — this is the most popular method of storing Bitcoin around the world. Much in the way PayPal wallets work, an online e-Wallet is convenient, can be accessed quickly and easily, is extremely secure, is not at risk of being lost or damaged, and can be used instantly without having to look for your information on a piece of paper or an offline hard drive.

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The security behind Bitcoin casinos aren’t perfect — some can have substandard security, some are blacklisted for not paying customers, and some are simply dishonest and rig their games. Thankfully, we and a host of other review sites and organizations find these casinos before they can do too much damage. If you check around and pick a well-respected and trustworthy Bitcoin casino, you will have a great time gambling, a secure account, and be protected with complete anonymity.

While Bitcoin is still in its infancy, we do know that as it has developed and increased in popularity worldwide, the better the security levels have increased on online gambling websites.

 

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How Well Can You Trust New Bitcoin Casinos? Reputation is Everything

How Well Can You Trust New Bitcoin Casinos? Reputation is Everything

When it comes to online casinos, reputation is everything. In the world of Bitcoin casinos is no exemption — once a new Bitcoin gambling site has opened, it takes some time to establish a reputation of their own before players begin to trust them with their Bitcoin. And for good reason.

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There are hundreds of sites that are active or once were, that have been blacklisted over time, as players gambled their Bitcoin and fiat/hard currency only to receive excuses or dodges by the online casinos — basically, the casinos were eager to take their money but didn’t have the funds or desire to pay out. This is always something to look out for when choosing a Bitcoin casino to become a patron of and a good reason to read reviews of casinos before committing. Nobody wants to have a bad experience or lose out on their money from some shifty online gambling site based in Cyprus or Costa Rica or even the U.S. or U.K. Because licensed or not, you won’t be getting your money back if they don’t pay you.

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So, Can you Trust New Bitcoin Websites?

As with any website that has to do with monetary transactions, Bitcoin casinos and online casinos (traditional), we always recommend keeping an eye on a new site and see how other players have liked it and reviewed their experiences. Read reviews to see if there have been problems, if they have a good reputation so far of paying out to players, and the pros and cons of the site.

If you don’t want to wait a year or so for the site to gain traction and make a reputation, we recommend starting with very small bets. Whether you use BTC or a hard currency, start small and see if you receive your winnings consistently, if the casino honors bonuses and promotions, and make sure you feel that gameplay is fair (finding a provably fair website is ideal).

The internet is a reflection of the world around us. There will be good websites and bad ones. Trustworthy casinos that will eventually earn themselves a great reputation and ones that will try to scam you. It’s a cold, hard truth, but once you are aware of this, you already have taken steps to avoid becoming a victim.

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Are Online Casinos Regulated, You May Ask?

Currently, most of the internet is unregulated in general and online casinos (especially Bitcoin casinos), are often unregulated. This doesn’t mean that an unregulated Bitcoin casino is untrustworthy — it just means that the country of jurisdiction either does not regulate gambling legally or a server and HQ of a site are in separate countries. It is very difficult to regulate websites because most people don’t know where the servers are. This makes it hard for governments to control.

And in cases such as the U.K., U.S., and other countries that are restricted from gambling online, you won’t find a casino licensed by these governments. Luckily, Bitcoin gambling is not illegal since Bitcoin is a cryptocurrency and is in the grey area where no enforcement can be made by the government.

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There are highly-respected Bitcoin casinos out there that are not regulated and there are amazing ones that do not have a license (e-gaming) — this is where reputation is important. These are typically casinos that have been around for years and have proven themselves through consistent and fair gameplay, RNG certificates, provably fair technology to ensure fairness, and great customer services and banking experiences with players.

If it is a newer site, it is best if it is regulated so you can have a better chance at the site being legitimate as you try it out.

Provably Fair Trading

Bitcoin uses what is called “Provably Fair Trading,” which is a concept that demonstrates the trustworthiness of online casinos to players. As a player, you definitely wish to ensure that the cards, rolls, slot pulls, numbers, etc… are randomly generated (this is called RNG) and not rigged to benefit the house.

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Bitcoin casinos ensure that the house has no edge beyond the game’s natural edge — and some have nearly no edge — that’s a true gambling site. The Blockchain hash is added to gambling results and summarizes what took place before it. This means that in Bitcoin casinos that state they have Provably Fair technology, the player can manually check every card flip, dice roll, or slot pull to make sure it was actually fair.

Basically, Bitcoin ensures transparency if the casino truly means what they say. A hash cannot be tampered with either because of its unique characteristics — this means that online Bitcoin casinos cannot falsify the record.

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How Long Has Bitcoin Been Around?

It often seems like Bitcoin is both new and has been around a long time — time has a funny way of playing tricks on us. Bitcoin itself has existed since 2008 and its security is based on its Blockchain. The Blockchain stores every financial transaction ever made. What makes Bitcoin so popular is not only its anonymity but this is a cryptocurrency that has no monopoly by any man, nation, or organization.

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It is a decentralized structure and this is one of the best attributes of BTC. No single entity controls it, so it is nearly impossible to control or manipulate. Also, it is very transparent (while keeping your identity anonymous) — others can check the Blockchain and ensure that there is no tomfoolery.

Take a look at some of the articles below, which can help to inform you about Bitcoin and Bitcoin casinos (both established and new) and the trustworthiness of these establishments. There are also tips on what to look for in a good Bitcoin casino, what to avoid, and a blacklist of casinos you should steer clear of.

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Facts to Know About Bitcoin Before Gambling at Bitcoin Casinos

Introduction

If you are new to this site, you have probably seen all of the reviews of different Bitcoin casinos and other online gambling establishments that accept this cryptocurrency. While you may or may not have been aware that there were such things as Bitcoin Casinos, you have most likely heard of Bitcoins themselves.

This article is to inform those making the leap into gambling at Bitcoin Casinos, and let you know a couple of things about this digital currency and using it at Bitcoin Casinos online.

If you have some time to waste, are looking to test your skills, looking to have fun playing games of luck, or want to make a bit (or a lot) of money playing online casino games, you should look into Bitcoin Casinos over that of traditional casinos.

Benefits of online gambling, wagering, and playing games are worth while. You can save a ton of gas money, save driving to another state where you are legally allowed to gamble, you can play online from your own home, you can deposit and cash out conveniently, and you can use the accessible digital currency of Bitcoin.

Bitcoin’s value continue to rise, surpassing the value of Gold even. When you consider the advantages of using Bitcoin and playing at Bitcoin casinos online, it is a no-brainer, especially if you live in countries such as the United States, where gambling is prohibited in nearly all states, including online.

So, here are some things you should know about Bitcoin Casinos:

  • It is legal
  • There are a ton of games to play and bets to wager on
  • It is much faster
  • It is anonymous

 

Legality

Gambling is a great way to entertain yourself — most of us cannot make it to Vegas or Atlantic City and more importantly, don’t want to, in order to gamble. There are casinos in a lot of states beyond the AC and Vegas, though — however, when it comes to gambling, every player wants to make sure they can engage in fair gameplay and do so without getting into trouble.

In the U.S. and other countries where online gambling is often restricted, you can get around this issue via Bitcoin Casinos. Bitcoin is a gray area when it comes to gambling — Bitcoin is not regulated like traditional online currencies and Bitcoin casinos are also not regulated like regular fiat (hard currency) casinos.

This means that players from the U.S., U.K. and other countries that are typically restricted from gambling online, are legally allowed to sign up and gamble using Bitcoin. Furthermore, Bitcoin itself is anonymous — you don’t need to attach a name or bank account to your Bitcoin e-wallet, so you can use this cryptocurrency anonymously at online Bitcoin casinos.

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Huge Range of Games

Bitcoin casinos are known for having a massive amount of games to choose from. The game type with the most variants to choose from is typically slots, but from video poker, table games, live games, card games, dice, specialty games, and other classics, you can get any game you can play in brick and mortar casinos — and then some.

Many Bitcoin Casinos also have sportsbooks or you can sign up at a Sportsbook and Racebook that features casinos games as well. Either way, you can bet on just about anything.

Bingo, blackjack, dice, roulette, craps, baccarat, poker, live games, slots, lottery, and hundreds of variants, you will definitely find a variety of entertainment options at Bitcoin Casinos. Some online casinos are better than others, so be sure to check out our reviews before committing to one.

Fast

One of the great aspects of Bitcoin Casinos is the speed of transactions. Bitcoin is a cryptocurrency that lives in the digital world — through e-wallets, they allow for instantaneous deposits and withdrawals.

You don’t have to worry about waiting for credit card transactions, contacting your physical bank, or working around your bank’s open hours — Bitcoin is 24/7/365 and is always available to be deposited and cashed out immediately. It is safe, anonymous to use, and is rising consistently in value over that of hard currency.

In addition to avoiding banker’s hours, when you do win and wish to withdraw your funds, you can do so much more readily with BTC. credit cards can take 3 to 7 days (sometimes more) to process (depending on the online casino), but Bitcoin is typically instant and at the most would take 12 hours.

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Anonymous

When it comes to gambling, it sucks being treated like anything but an adult. One of the more important things to know about Bitcoin cryptocurrency is that you won’t run into any problems using it to gamble.

Some credit reporting agencies and banks who issue you credit cards may downgrade your credit for gambling. They can also flat out deny you the ability to deposit to an online casino if you use your credit or debit card.

Bitcoin is anonymous and doesn’t have to tie back to you at all – there is no personal information, no name, no address, no anything. If you don’t want someone asking you about your gambling habits during your next loan application and wish to separate your regular life and gambling life, Bitcoin is the way to do it.

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Why Bitcoin Casinos are Better Options than Traditional Online Casinos

Bitcoin casinos and hybrid casinos that accept Bitcoin have become more and more popular over the last 5 to 8 years. The popularity of using crypto currencies like BTC, but also others such as Litecoin, Dogecoin, Ether, etc… made their way into online sportsbooks and casinos with great success.

So, what is it about Bitcoin Casinos that make them a better place to place wagers, gamble, and play your favorite casino games? Well, there is a list of pros and cons below that reflect the reasons most gamblers around the world prefer to use BTC over fiat (or hard) currency.

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Pros

  • Payout Rates are Better

Online Bitcoin casinos tend to offer higher payouts since their site has fewer costs than regular hard-currency gambling sites. There are no costs needed to obtain gambling licensing, for example.

  • Legal Aspect

Bitcoin (BTC) is not an official currency, so gambling and playing games of hazard is not directly illegal. The U.S. and other countries sometimes have gray areas where Bitcoin gambling is concerned — so, while online gambling is illegal in this jurisdiction, Bitcoin gambling is not and there is virtually a zero percent chance that you will get in trouble — this is mainly due to the next positive aspect most players love about Bitcoin casinos.

  • Anonymous Transactions

The anonymity of Bitcoin casinos are one of the most popular aspects of these cryptocurrency casinos — this is a huge strength that offers players an anonymous option to gamble online and use BTC as currency without having to enter any personal information or banking information.

In addition, a strength of Bitcoin is present in the casino transactions as well. You can deposit and cashout via e-wallets and transfer your BTC easily, instantaneously, and without fees.

Not all Bitcoin casinos are completely anonymous with their signups, so take a look at the registration process in our reviews on this website or when heading to a new Bitcoin casino, take a look to see what information they require upon signup.

Anonymous gambling via Bitcoin is most popular among players from typically-restricted countries like the U.S. and U.K., where gambling with traditional currency online is prohibited. Bitcoin gambling offers a way around this.

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  • Faster Transactions

Bitcoin transactions occur very quickly, and this is a huge bonus to BTC gambling websites. When depositing and withdrawing your funds, online Bitcoin casinos can get you gambling quicker and cashing out instantaneously. Alternatively, traditional fiat/hard currency gambling sites can take days and days to set your account up with money, and a lot longer to allow you to withdrawal your funds — processing times become tedious in traditional casinos — with Bitcoin casinos, transactions are instant in nearly all cases.

  • No Transaction Fees

Costs for deposits and cashing out are non-existent. Rather than having to pay fees as you typically do with traditional online casinos, Bitcoin casinos use e-wallets to transfer BTC into your account. This process is immediate and you don’t have to wait. It is also safer and since you are not using your debit or credit card, there is no chance that your funding could be rejected because it comes from a gambling site.

  • No Tax Issues

Regardless of where you reside, your government will not and cannot tax you, even if they magically had this information and wanted to. This is because you don’t need to set your real name when opening for a Bitcoin casino account and in many cases, you don’t need a name at all — just an email address. Also, Bitcoin is anonymous and your e-wallet is safe from prying eyes — including the governments.

Most traditional hard-currency online casinos ask for bank account information, personal information, official ID, a copy of credit cards, and even passports. No thanks! Bitcoin can save you from this.

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Cons

As with anything, there are always potential cons, depending on if these issues matter to you as an online gambler.

  • Lack of Regulation

With Bitcoin casinos, there is less regulation — no one is observing everything that is happening when it comes to any Bitcoin-based business. Since there is less regulation, it is up to you to read unbiased reviews, keep an eye out, and make a decision about an online casino yourself. Take care in choosing the right BTC Casino for you. Only try your luck on reliable, stable, and online casinos that have a good track record of paying out to players. Also check the “Blacklists” which have up-to-date information on casinos to avoid and to watch out for.

Make sure you check before you commit

Make sure you check before you commit

  • No Official Gambling License

Since there is less regulation and just about no standards on Bitcoin gaming, there may be platforms out there that may try to cheat you. This is why it is important to check recent Bitcoin Casino Blacklists, check their reputations online yourself, read reviews, and see what other players’ experiences have been before you play on their platforms and deposit money.

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