The question pops up quite often in forums and other online communities. “How do I choose a valid and honest casino?” In the end, we all want winnings to be paid fully, have fair treatment while gambling, and from time to time some great casino bonuses with cryptocurrencies. Thus, below we composed and wrote out for you some factors that need your attention.
1. Reputation and Regulation
While there are top sites in crypto gambling, the ideal ones are those that have a great reputation – names like Bitstarz and Stake feature in this list. But if you are unsure of the reputation, it is best to go for the casinos that are regulated by a licensing body like Curacao eGaming or Malta Gaming Authority.
2. Player Traffic
Player traffic refers to the number of players who visit an online casino. The more traffic a platform, the better the chances of being a top casino. Finding the player traffic of a website is one of the best and easiest ways to understand the casino’s reliability. We usually use Websimilar or other google chrome extensions.
3. Provably Fair
Provably fair is a technology used in many casino games where you can check the transparency of the games after you play them. Like Bitcoin, provably fair uses blockchain technology and ensures a safe gameplay environment for casino players using cryptocurrency online. Hence, you should look for online casinos where you can find provably fair games.
4. Game Types
While casinos would typically focus on slots or other table games, this does not mean that you should limit yourself to it. The measure of a quality online casino comes from the number of games it has in store so that you can try different options. Therefore, you should look for casinos based on how diverse their game lobby is, including and not limited to bitcoin games.
5. Bonuses and treatment
A casino where you get handsome bonus rewards should be your ideal spot. However, there are wagering requirements that you should keep in mind. A casino that offers a lot in a welcome bonus but at a high wagering limit can nullify the bonus offer.
Why use crypto for playing at online casinos?
- Financial Privacy
- Low Fees
- Play from Anywhere without restrictions
- Bigger, Better Bonuses
- Lack of Regulation
- No Chargebacks
- Crypto Price Volatility
One of the major advantages of using a cryptocurrency like Bitcoin is keeping your banking information safe. You can play anonymously at any online casino by using crypto. In some casinos, you do not even have to sign up on the website. Just select a game, place bets using your Bitcoin from your wallet, and you are good to go. Another factor that upholds the privacy of crypto is that it is a decentralized currency.
In comparison to fiat currency, cryptocurrencies have a lower processing fee. As there is no intermediary involved, you can start playing by paying a processing fee that is next to nil – of course, depending on which cryptocurrency you decided to use. Usually, the best crypto money for gambling online is Litecoin, Dogecoin, and Tron.
As already mentioned, no government or financial institution can put a tab on cryptocurrency. So, geographical boundaries are not a limitation for Bitcoin. You do not have to convert it to a different currency to adapt itself to a region. You can easily gamble from anywhere on the globe and from any device of your choice.
The absence of intermediaries, fast transactions, and processing save a good deal of money in crypto casinos. Many online ethereum casinos take advantage of this and redirect the money in the form of bonuses. This means you can expect bigger and better bonuses from crypto casinos which you will not find in casinos operating with fiat currencies.
Drawbacks of using crypto in gambling
As there is no regulatory body for cryptocurrencies, Bitcoin cannot be under legal supervision. What goes with the currency is strictly its private matter, and you can not resort to any institution regarding this. Also, with casinos accepting cryptocurrencies like Bitcoin, it becomes easier to operate without a valid license. The risk of unfair games is always hovering there. In these scenarios, an online casino going through a detailed KYC process is highly preferable.
A major feature of cryptocurrencies is their high volatility. Currencies like Bitcoin are not at all stable, and their value keeps on fluctuating. While fiat currencies also fluctuate, cryptocurrencies make radical jumps from high to low and vice versa. This can directly impact your gaming experience in a crypto casino. Suppose you win 1 BTC while playing, where the value of 1 BTC is $50,000. Now, it might happen that by the time you fulfill your wagering requirement and withdraw the money, the value of 1 BTC has fallen to $30,000 or even less. This does not imply that the value cannot soar up. But there is always this unpredictability about Bitcoin that can make or break a deal.