If you’ve become used to traditional currency gambling sites, switching to a site that uses bitcoin may be a bit nerve-wracking for you, but it must be noted that it can also be a pretty lucrative switch to make. Bitcoin casino sites, like the ones we look at here at CasinoNoDepositBonus.win, are becoming more and more popular, as many brands are turning to digital currency in 2017. Generally speaking, bitcoin is ideal for players, as it’s a currency that has plenty going for it these days.
To become educated on the pros and cons that come with this whole new world, keep your eyes peeled, as the following is our official CasinoNoDepositBonus.win guide to what bitcoin is all about, related bonus offers and all!
When it comes to defining what bitcoin is, simply put, bitcoins are digital money. They hold a value that is determined by the supply and demand of the bitcoin itself, and not by any country, organisation, or government. Once they are mined, these bitcoins can then be bought, sold, and used to buy goods online or to play at online casino websites.
Can you gamble with bitcoin?
Of course! Here at CasinoNoDepositBonus.win we tell you exactly where you can play, as gambling using the bitcoin is becoming more and more common. This is partially due to the safety behind bitcoin transactions, as well as the digital nature of the bitcoin that blends seamlessly into the online world of gambling. Today, players not only have the option of using bitcoins at Bitcoin specific casinos, those casinos designated for bitcoin casino play, but at many other traditional casino sites as well.
Partnering with ewallet platforms such as Neteller, traditional casinos are beginning to be able to offer bitcoin as an option for deposits. NetBet, famous for being the first UK-based gambling site to include the option of bitcoin in their payment services, are not expected to remain the only supplier, as experts of the casino industry believe that more and more casinos are preparing to follow suit in offering this option to players everywhere.
How do you buy bitcoins?
Instead of mining your bitcoins, buying them may be the easiest way for you to get your hands on them. To do this, players are to create a wallet address with bitcoin-providing software that offers this. Then, players are to choose an exchange or a trade market to use.
Once you’ve signed up for the exchange, you can then start to transfer money to the account. After making a deposit, you can then choose to either trade or buy bitcoins, depending on their tastes and what their objective is. The price of bitcoins fluctuates, since, as mentioned before, it is based on supply and demand, but once you make your bitcoin purchase, you can then transfer the bitcoins from the exchange to your wallet for use.
Can you get free bitcoins?
Players do have the option of getting free bitcoins to use at a casino, such the ones we showcase here at CasinoNoDepositBonus.win, but this process can be a bit tiresome. As bitcoins can also be mined, this means that players can generate them on their own, though this requires both a Block Chain and dedicated software.
While these bitcoins would certainly be free, as they are not purchased, getting your hands on these free cryptocurrencies successfully is another story. Due to lots of competition from high-quality mining services done via the World Wide Web, mining bitcoins is certainly not a feat for the amateur.
What are the bitcoin deposit and cashout options?
Bitcoins are stored in either one of two ways: either through software that uses a cloud or through software that you download directly. Regardless of which storage option you choose, there are quite a number of services when it comes to the deposit and withdrawal of bitcoins that can be of use to you. So, if you’re looking to jump on the bitcoin train here at CasinoNoDepositBonus.win, you can rest assured that your options won’t be limited.
Block Chain and Green Address are two examples of cloud software used for bitcoin storage, and these store bitcoins much like PayPal or Neteller are popularly used to store money online. Software such as Darkwallet or Electrum, when downloaded, store your bitcoins on your hard drive and keep them safe for further use. This way is usually much safer, so most bitcoin users opt to use this type of software.
Does bitcoin come with transaction costs?
Here’s amazing news from us at CasinoNoDepositBonus.win, as we can proudly state that bitcoin transactions are free of costs. As all transfers are made from peer to peer, there’s no longer any middleman to pay. Whereas traditional casinos carry depositing or withdrawing charges when using credit card, bank transfer, or ewallets, bitcoin truly stuns the crowd when it comes to fees.
Why are bitcoin prices volatile?
Though some bitcoin-based casinos claim that since they do not use real currency, they are safe from any economic hardships that may take place, bitcoin value does fluctuate considerably at certain times, such as after Mt Gox, the trading platform, collapsed. However, CasinoNoDepositBonus.win believes that we offer a huge advantage to other traditional casino portals, as sites with multiple currencies often come with hefty conversion fees that do more harm to your pocket than good, so we are able to point you in the direction of dedicated bitcoin casino sites if that’s what you’re after.
Is bitcoin gambling safe?
Simply put, it depends on whom you ask. Some players believe that it is safest to gamble using bitcoin, while others believe that banking systems hold enough security measures to keep a trustworthy level of safety. Some people believe that insurance systems and trusted middlemen like PayPal are enough to keep transactions safe and secure.
However, in banking, there are always blunders. Personal data can be compromised, funds can be misplaced, and systems can malfunction. This is where the anonymity and direct-ness of bitcoins shine, as they allow users to protect not only their bankroll, but also their identity and personal details.
Here at CasinoNoDepositBonus.win, we strongly believe in the power of digital currency. These anonymous, peer-to-peer transfers provide a sense of security and efficiency that’s unmatched. During bitcoin transactions, virtual software creates and approves a certificate of security between both parties.
Is bitcoin-based gambling legal?
Whether your choice is a bitcoin-only casino or one that includes bitcoin among many other currencies, licensing is something that’s absolutely necessary to ensure exists according to your jurisdiction. Since November 2014 in the UK, making sure that your bitcoin site is valid under law is a must.
UK sites that are licensed usually have the logo of the Gambling Commission at the foot of the site. Most casino sites also often use testing companies such as GLI or eCOGRA to make sure that their number generators are fair, and that their player percentages are as they should be. Before joining a bitcoin site, take a few minutes to see that they do these tests. You’ll be pleased to know that at CasinoNoDepositBonus.win, we take pride in our adherence to regulation, so will only recommended industry-approved platforms.
When CasinoNoDepositBonus.win and bitcoin combine!
There you have it, as that is the ins and outs of bitcoin explained, so with fun and action in mind, check out the bitcoin casino sites CasinoNoDepositBonus.win recommends and start playing today!