Gamble with Bitcoin and not with Your Privacy
Gambling online with a digital currency!
Sounds intriguing, doesn’t it?
This is especially the case with digital currencies such as bitcoin, which is also responsible for the introduction of provably fair protocols on bitcoin casinos throughout the world. With estimated 2.9 to 5.8 million unique users, Bitcoin popularity as crypto currency is growing steadily. Characteristically being a better partner for internet transactions, it is set to change the way we use the internet. Many online casinos are quick to see the unique advantages (discussed blow) of being a bitcoin casino and started adding bitcoin to their payment systems.
The Numerous advantages of Bitcoin Casinos will change the Gambling World
[To fit all in one line, “certainty with hashing, security and privacy with anonymity and cheap(almost free) and agile transactions” are all possible with casinos that accept bitcoin deposits]
It is hard to determine which of these bitcoin casino advantages is the best, as they are all, in an ideal case are all must haves for every online casino.
To start, let’s talk about bitcoin transactions. Unlike traditional payment methods, bitcoin transactions are fast and easy. All you need is a good bitcoin wallet and best bitcoin casino site and you can start playing your bitcoin casino games in minutes.
What can beat that?
How about “almost no transactions fee!” Yes!, with bitcoin as a mode of casino deposit, you don’t have to worry about 2%-20% of deposit amount as transactions fee (all other traditional payment modes like Paypal, banks, credit cards, wire transfers charge transaction fee). There is no certain percentage of transaction fee, however, small processing charges are involved in bitcoin transactions these days, but no matter how many bitcoins or satoshis you want to deposit, the processing fee range won’t cross 10-30cents. Moreover, bitcoin casinos deposits are direct and does not depend on any third party payment processor. So, only with bitcoin, everything happens instantly and transactions are for free.
What else does it got?
It’s more secure!
Yes, Bitcoin- the famous cryptocurrency is designed to be secure for any online operation. Not just that, the transaction with bitcoin are anonymous. So with BTC casinos, you can gamble from any locations, even from those places where gambling activities are normally banned, for one reason or another. For example gamblers in countries like USA, where gambling is extensively regulated, the anonymity that bitcoin casinos provide is such a relief. No wonder casinos that accept bitcoin are big buzz in USA gambling scene.
Regardless of your nationality, you can use Bitcoin to gamble without any territorial restrictions.
So with bitcoin, you can enjoy Jurisdiction free casino games instantenously, without spending extra bucks on transactions free for deposits.
As awesome as the above perks sound, probably the best feature of Bitcoin casinos is the possibility to verify the fairness of the online casino.
Thanks to the Secure Hash Algorithm, SHA256, a cryptographic hash function that is used in bitcoin mining and Bitcoin network, provably fair casinos are a reality. This is not a good news just for players, the casinos also can make sure that players are genuine with their gamble.
So what is this provably fair gambling?
So the commented part has to be re written. Provably fair has often been regarded as a confusing concept for new bitcoin casino players.
However, in the future, chances are that all online casino enthusiasts will understand the concept, which is bound to make all online casinos safer from every point of view, while also increasing their trustworthiness score. With this in mind, provably fair algorithms will end up being the standard that all casinos and players consider as an advantage. Bitcoin has therefore brought along the end of baseless trust, and encouraged numerous casinos to finally go ahead and show users some sort of trust proof.
Seeing provably fair systems as an advantage is one thing, but thoroughly understanding the way they work is a lot more difficult.
To put things better into perspective, we will now go ahead and briefly explain how provably systems generally work. While there are multiple protocols available on the market, most casinos are based on the following, which includes three main factors: the server seed, the client seed and the nonce, which is a number that increases each time you make another bet.
To kick things off, before you start gambling, you will be given an encrypted hash of the server seed. As you get it in advance, casinos will not be able to change it up later, but due to the fact that it is encrypted, you will also not be able to see it in order to predict your rolls. Apart from the server seed which has already been sent to your browser, a provably fair protocol will also require a random client seed, which will be generated by your very own browser. You can go ahead and adjust this seed before you start gambling to further reduce the chances of the site knowing it in advance.
Following each bet, the outcome of the roll will be calculated by taking into account the client seed, the server seed, and of course, the nonce, which just like we said, increases by one after every bet that is made, in order to guarantee a different result.
This sounds fair, doesn’t it? But how do you go ahead and verify whether the results have been tampered with in any way? This is where provably fair protocols truly shine. The first step is to verify whether the hashed sever seed that you have received is the same with the unhashed server seed. To do this, you can simply use a hash calculator, which will help you get the SHA256 hash of the unhashed server seed.
Once you have checked that the same seed is being used, you can go ahead and use a provably fair verifier, as doing all of the calculations by hand, while also taking the nonce into account is bound to be extremely time consuming. After using the verifier to come up with rolls after each bet in particular, go ahead and check your results in order to see if the same roll number popped up.
The entire system works by binding every part in order to generate a roll number, and then allowing players to verify by themselves that their rolls are authentic and have not been messed around with in any way whatsoever.
Word of caution, though. The Provably Fair system is great, but you should still check the reputation of any Bitcoin casino you consider to play at. Even with untampered software bad business practices and outright rip-offs can still damage your Bitcoin wallet badly.
Considering such possibilities of small negatives, it’s better to research and wager on a better bitcoin casino
Select the Right Bitcoin Casino
Always consider the following factors when choosing a bitcoin gambling sites:
- Does it have Provably Fair software? Usually, the answer can be found on the Bitcoin casino web page. There are times when bitcoin casinos make it difficult to check whether they are provably fair. If this is the case, it’s best to simply choose another provider. True provably fair casinos will often enjoy letting everyone know about the system.
- Is it legalized? Regardless of the payment method used, you should always make sure you are gambling at a legal establishment. More than anything, for your own protection, you should check the partners’ network of the casino, professional reviews and end users’ opinions.
Why should I check for a license if bitcoin casinos are provably fair?
Because, not all bitcoin casinos are genuine, some might be fair with games but they can still cheat you with disconnecting in between, not paying the money when it is due, and employing certain practices such as refusing to acknowledge that you have won a bet, not responding to customer support requests and more. However, most top bitcoin casinos will offer provably fair systems that work as advertised, and will also likely not attempt to cheat you out of your cash. However, as a rule of thumb, it is advisable that you never go ahead and bet more than you can afford to lose. So it is better to find the list of good bitcoin casinos 2017 before deciding on any random bitcoin casino. To make things easier, we listed couple of good bitcoin casinos here:
FortuneJack is one of the oldest casinos on the market. Not only do they offer a good number of provably fair games, but they are also registered and licensed, and so far, their trustworthiness rating has been pretty high.
So far, numerous bitcoin casino players from all around the world have often stated that the mBit Casino is likely on the best on the market, and we agree! They have a ton of games, great trustworthiness ratings and awesome customer support.
While CryptoGames doesn’t have the most modern user interface, or even the best games on the market, the casino has seriously gained in popularity thanks to their provably fair protocol, and easy-to-play games, alongside their great user interface and support for multiple digital currencies.
Play Amo is the place where you can find just about everything gambling related. Simply give them a try and you’ll quickly figure out why their are one of the top casinos.
Last but not least, we also have BetCoin, which has attracted hundreds of thousands of players from all around the world, thanks to their great games, awesome customer support and provably fair systems.
- Read the terms of service! Bitcoin casinos sometimes have convoluted terms of service and bonus regulations. Make sure to check them out or you are risking on missing some hefty rewards. Clarify anything you deem unclear with the casino customer service.
- Approach gambling responsibly. Use it as a diversion and a nice adrenalin boost, but do not succumb to the whims of Lady Luck, as she is a fickle friend and a cruel mistress.
How safe and easy is depositing money on a bitcoin casino
When it comes down to depositing money on a bitcoin casino, the process should be 100% safe as long as you’re dealing with a trustworthy casino whose goal is not to steal your money, but rather to let you play and win, based on your luck!
With this in mind, there is a process of a few steps that needs to be carried out when you would like to deposit for the first time.
- Deposit money onto your bitcoin address
If you do not yet have a bitcoin wallet, create one! To deposit bitcoin, you can use one of the many exchanges available on the internet, or any other source of the coins.
- Create your account and deposit the money!
In case the casino requires you to create an account, do so! Then, look for the deposit button, which should be in plain view. Simply click on it, and copy the bitcoin address mentioned over there.
- Making your deposit
Once you have copied the address, paste it in your wallet, and write down how much you would like to send. In case you want your payment to be confirmed rapidly (only worth doing if the casino doesn’t have an instant play feature), put in a higher tax- this will help process your transaction quicker. Once this is done, hit send!
Depending on the casino that you have chosen to deposit on, you will either have to wait for one confirmation before you can use your money for gambling, or you may be able to play instantly in case the casino has this feature. If the latter is the case, you should be aware of the fact that you will only be able to withdraw once all of your payments have been confirmed.
Is there a minimum deposit on bitcoin casinos?
The minimum amount that can be deposited depends on the casino of your choice, and how premium it is. However, most of the times, the minimum deposit will be of 0.0001 BTC, yet different units of measurement such as mBTC, uBTC, dBTC and satoshis could be used. However, the general amount is the same, and very low in value. You can often check the terms and conditions in order to learn more about bitcoin casinos minimum deposit amounts.
But for depositing and getting started on bitcoin casino, you need to have bitcoin
Where can I get bitcoin?
This is a difficult question, with a lot of possible answers.
However, to make things easier, the easiest method of getting bitcoin would be a through a bitcoin exchange. Simply search for one on Google, as the most popular options will quickly appear at the top. The process is fairly simple, and it requires you to deposit a certain amount onto the exchange via bank transfer, or by using your debit, credit card or even PayPal in some cases. Once the amount has been deposited, simply click on exchange, enter the amount that you desire, and you’ll be given the amount in bitcoin, on your bitcoin wallet.
Some of the other methods that can be taken into consideration include Bitcoin ATMs, which allow you to exchange cash for the digital currency.
In case you are feeling adventurous, you can also go ahead and set up your very own mining rig, or join a mining pool, where you will be given bitcoin for your mining efforts, based on how impactful your processing power is. However, at this time, gaining profit through mining can turn out to be quite difficult, and without a big investment, you likely won’t earn enough of the digital currency.
Last but not least, you can also be paid in bitcoin for various services that you do, or product that you sell, and of course, gain it from other people, in exchange for work, products, or money.
Luckily, if you won’t want to be purchasing bitcoin from exchanges anytime soon, you will be happy to know that bitcoin casinos offer free bitcoin through their faucets. While you likely won’t be offered enough to rake up a win and withdraw a considerable amount, it can be a good way to practice before you gamble with real coins.
Q: What are Bitcoins exactly and how do they work?
A: Bitcoins are a cryptocurrency. They are produced by individuals, who have put their personal computers to the process of “mining”, i.e. to solving complex algorithms. The result of the solved algorithm contributes to the creating of a new Bitcoin. Bitcoins can be used for many kinds of transactions and are inherently untraceable as there is no central authority (read: government) regulating them. This makes it a perfect partner for gambling. So the term bitcoin gambling makes sense
Q: What is a Bitcoin wallet?
A: It is a piece of software or hardware used to store Bitcoins and it is the place from where you process the bitcoin transactions. Hardware wallets are by far the most secured, but they are also the most cumbersome to manage. The software solutions can be installed on your desktop, smartphone or, indeed, used in a cloud solution, providing access from anywhere.
Q: Are there Bitcoin casino bonuses?
A: Yes, there is quite a big bitcoin casinos list that provide deposit bonuses, free spins. Not as frequent as other bonuses but every now and there are bitcoin casino no deposit bonuses from some new bitcoin casinos. If you are keen on bitcoin casino bonuses, you can check reviews on all top bitcoin sites to update yourself with detailed information on list of tables and casino games, deposit bonuses, free spins that each of the casino that accepts bitcoin for payments provide
Q: What is Provably Fair gambling?
A: It is a method of verifying the integrity of the casino software and the honesty of the players. Thanks to the Bitcoin encryption, both can be checked with a simple hashed seed.
Q: Is gambling with Bitcoins anonymous?
Gambling with bitcoin cannot be 100% anonymous, yet it does offer you a strong, extra layer of protection. Do keep in mind that if you truly wish to be anonymous by using the digital currency, you will also need to find an anonymous casino that does not require you to create an account, and enter personal details such as your email address, name, or payment information.
On the bitcoin network, all transactions are recorded forever, on a public ledger known as the blockchain. Therefore, anyone, at any time can easily see the transactions made by a wallet. However, there is no way to prove that an address belongs to a certain person, or what was purchased with a certain payment, as the blockchain network is mostly made up strings of letters and numbers.
Q: Are there territorial restrictions for Bitcoin casinos?
A: No. Given the complete anonymity you can enjoy using Bitcoins as a payment method, you can gamble from anywhere, regardless of whether the casino is available or not in your country. Conventional payment methods require proof of identity, Bitcoin does not.
Q: Why just normal casinos are not enough? Why we need bitcoin casinos or casinos that are provably fair?
Before bitcoin became mainstream, and bitcoin-based casinos took the market by storm, casinos were easily able to manipulate the outcome of their rolls, in order to rake in more profit. Additionally, users had no proof whatsoever that they were not being cheated. If a casino wanted to, they could make a person’s chances of winning 0, and not face any drawbacks, as this couldn’t be proven. Things changed with provably fair casinos, which were created thanks to bitcoin’s hashing properties. Nowadays, it is significantly more difficult for casinos which have chosen to adopt this protocol to cheat players. While regular online casinos cheat, bitcoin casinos cannot, thanks to random number generators, and the provably fairness when gambling.
Q: Is the provably fair concept implementation the same for all BTC casinos and Bitcoin casino games like slots, poker and dice games?
The provably fair protocol can depend based on the casino that you are playing on, or the games that you are enjoying, however, they remain similar at heart, and checking the authenticity of the rolls is bound to have the same difficulty. For instance, bitcoin slots will have a different system when compared to bitcoin dice, whose purpose is to come up with a number between 0 and 100. However, the server seed, client seed and nonce are still part of the system.
Q: Can a Normal casino with fiat currency have provably fair system?
Yes. Provably fair systems were inspired from bitcoin, yet it is totally okay for a fiat-based casino to offer a provably fair system. You do not need to be dealing in BTC for it to work.
Q: Are there any specific Bitcoin casino for USA gamblers?
Gamblers from all around the world can use anonymous bitcoin casinos, as it would be almost impossible for internet providers to track them, and then sanction them. However, simply look for bitcoin casinos USA in order to determine the best choices for US players.
Q: I am not a technical person, and don’t understand the ins and out of bitcoin market, can I still use bitcoin casino site?
You don’t need to know the details of how bitcoin works, yet knowing the basic principles is essential to playing on a bitcoin casino, just like knowing the principles of a fiat payment system is required to play on a traditional online casino. Apart from this, you only need to have a basic understanding of the internet, and of course, on how gambling works, to keep you safe at all times.
Q: So do all bitcoin casinos accept only bitcoin as a deposit method?
At this moment in time, numerous big, established online casinos, are seeing the opportunity that the bitcoin market offers, and are therefore now opening their gates to bitcoin players as well. However, you will often find that most casinos have multiple methods of depositing and withdrawing funds, ranging from credit cards, bank transfers, debit cards, bitcoin, alternative currencies, and more.
Additionally, multiple digital currency-based casinos also accept altcoins, such as LiteCoin, Ethereum and more. Not only this, but bonuses such as the max bonus, second deposit bonus, third deposit bonus, will be granted in multiple currencies.
Q: What are other cryptocurrencies that we can use for online casino deposits
This mostly depends on what casinos choose to accept! Some of the most popular digital currencies for gambling sites apart from bitcoin include LiteCoin, DogeCoin, Dash, Ethereum, PlayCoin and more.