Bitcoin Casinos – Double Fake or Easy to Win?
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Bitcoin is by far the most popular cryptocurrency in circulation right now. The unique properties of digital currency imbue it with multiple uses. One of these uses is as currency at online Bitcoin Casinos. Bitcoin itself has been viewed as a fairly volatile investment, more than a few even consider it outright betting in its right. Some investors are happy to buy and hodl (hold on for dear life) for as long as takes to see a positive return, others wish to see a return in a shorter space of time. This is where Bitcoin casinos step in. These online casinos are happy to allow gamblers to use Bitcoin for betting. While this has opened up what some see as a fantastic opportunity, some players remain sceptical. Let’s look at whether Bitcoin casinos are a double fake, or easy to win.
What is a Bitcoin Casino
First up, lets clearly define what a Bitcoin casino is, so we are all on the same page. As the name suggests, a Bitcoin Casino is an online casino that allows Bitcoin as a payment method, either solely on its own, or alongside other fiat currencies. Until quite recently the number of gambling operators who offered this service was rather small. The gambling industry is famously quick at spotting new opportunities that new technology offers and has been quick to answer the demand. Among other things, gamblers are now able to bet at:
- Online casinos
- Sports betting
- Lotteries
- Spread betting
Other than using a different payment method for making deposits and withdrawals, Bitcoin Casinos operate in the same manner as any other online casino. New customers receive welcome bonuses for registering, and they have access to slots, card games, and table games – everything you would expect to find. When it comes to software, some Bitcoin casinos provide in-house games, while others stock titles from the biggest and best software providers in the business such as NetEnt and Microgaming. One of the biggest and most trusted Bitcoin casinos is Bitstarz which stocks over 2,300 games, so players using Bitcoin are never short of something new to try.
So double fake or easy win?
The short answer is neither one nor the other. Generally speaking, we can treat Bitcoin casino the same way we would treat any other online casino games. There is no one size fits all answer - some are legitimate operations that are licensed and regulated, some are not. So if using Bitcoin for gambling is an appealing prospect, then as always, go for popular casinos with good reviews and which follow the laws in the territories they operate.
When it comes to Bitcoin itself, the same rules apply to gambling as they do when using digital currency to purchase any good or service. Make sure you use a reputable exchange to buy the coins, store them safely, and be aware that their value can fluctuate.
That final point is one thing that makes gambling with Bitcoin an extra tantalising proposal. Yes, the value can drop, as it can with any investment, but it can also increase. This makes anything you win from your Bitcoin gambling worth potentially more!
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