Bitcoin is a cryptocurrency created by Satoshi Nakamoto – a pseudonym for, what researchers believe is an Asian man, or team of computer scientists.
It’s the world’s first viable digital currency, and it works by users sending payments from one another on what’s known as a “Blockchain”.
Bitcoin has become big news recently, as its value continues to increase, and it’s expected that company’s all over the world will begin embracing the currency, as more and more people look for greater levels of security, anonymity, and privacy when making financial transactions.
To purchase Bitcoin, you have a number of options, although the most popular – and arguably the easiest way to do so – is through what’s known as an online Bitcoin exchange.
These are like marketplaces, where traders sell Bitcoin, and where buyers like you, can get them.
You can use a number of different payment methods like Visa and Mastercard Debit/Credit cards, Bank Transfers, PayPal, Skrill, Neteller, and more – and the great thing about purchasing through an exchange, is that they use an escrow system, meaning there’s no chance of the seller running away with your cash without giving you your Bitcoin.
Bitcoin gambling is still in its infancy, and as it’s only been around for a few years, it’s unclear what the future will hold in terms of legality.
Yes, is the short answer; it is legal. The only factors you need to watch out for, is that not all countries allow online gambling – and there’s also the taxation reporting, which can complicate things.
As a general rule of thumb though, if you live in a country that allows online gambling, you’ll be able to gamble using Bitcoin, legally.
It depends; this is all down to the casino, and it will be in-line with their KYC (Know Your Customer) procedures.
Legitimate Bitcoin sites probably will ask you to upload proof of address and identification, but this is only to verify who you are. Your details won’t be shared with anyone, so don’t worry about it too much.
If you want to gamble in a country where Bitcoin gambling is illegal, it’s worth pointing out that it’s probably the online gambling that’s illegal, not the Bitcoin.
Still, you should take care when purchasing and cashing out your Bitcoin, to avoid getting into trouble.
VPN wise, there are a few that stand out. Express VPN are one of the market-leaders, and they don’t hold logs, which is clearly beneficial. TorGuard is another service that offers fast connectivity, without holding information about you – but ALWAYS make sure to pay for your VPN using Bitcoin, and not Visa and Mastercard Debit/Credit cards.
Be vary weary any time you see “free Bitcoin” tattered around. The vast majority of free Bitcoin offers are scams, and will usually lead to you actually losing money, rather than making it!
Thankfully, Bitcoin casinos do, however, offer ‘free Bitcoins’ in a sense, in that they offer promotions and re-load bonuses you can use to get additional funds – but you’ll never be able to get completely “free” Bitcoin.
Provably fair gambling is based on cryptography – the mathematical science that the Bitcoin protocol runs on – and this basically means that it’s physically impossible for games to be rigged, if they take their results from the Blockchain.
In order to a casino to rig a game, they would have to be in control of millions of computers around the world – something even the world’s biggest law enforcement agencies couldn’t do!
Unless you’re experienced in cryptography, crypto hashes, and Blockchain technology, it’s unlikely that you’ll be able too.
However, a quick search on Reddit or Our Website, forums, and so on will show you pretty much instantly whether a Bitcoin casino is using provably fair games or not – and this ensures you can gamble safely and responsibly.
It is possible, which is why you should always make sure you’re playing at a reputable website.
While it’s impossible for the provably fair games themselves to cheat you, the casinos could still decide not to pay you out or close your account for no reason – so always make sure you abide by the terms and conditions and make sure to upload your identification documents to ensure speedy withdrawals!
Yes! There are many reputable Bitcoin casinos that accept US players, and as long as you choose one that’s recommended, and reputable, you’ll have no issues whatsoever!
To find the best US Bitcoin casinos, you can browse our site. We’ve reviewed some of the top US-accepting Bitcoin casinos, so that you don’t have too!
This is a question that depends entirely on the casino in question. Some pay out within just a few minutes of you making the withdrawal request, while other takes up to a few days.
If you want to speed things up, make sure your identification documents are already uploaded. This will save unnecessary delays when cashing out.
In terms of deposits, they’re credited instantly to your casino account balance the moment the casino registers the fact that you’ve sent a Bitcoin transaction.
While they don’t offer “free” Bitcoins as such, they do regularly run promotions, giveaways and competitions such as “free spins or no deposit bonuses” – so while you won’t be able to just ask for some free money, you will be able to take part in exciting sweepstakes where you can win a fair amount of cash!
Not if you’re playing at a Bitcoin casino! That’s one of the main reasons they’re so popular with players – especially those residing in the US. You don’t need anything other than a Bitcoin wallet (which is free and instant to open), and that’s all there is too it!
Some are, some aren’t For example, Bitcasino.io – one of the leaders in the online Bitcoin gambling industry – is regulated, in Curacao. There are other sites that aren’t regulated – but that doesn’t mean they’re not legitimate.
No. None of the Bitcoin casinos today offer software that requires you to download it.
Yes, most Bitcoin casinos offer their games and website to players on mobile devices. You just need an Internet browser, and an Internet Connection, and you can then login (or sign up) to your account and get gaming!
A deposit bonus is usually a matched-deposit-bonus, and this means that whatever amount you deposit will be matched by the casino.
Say, for example, you deposited 1 Bitcoin. The casino would then credit your account with a total of 2 Bitcoins; yours, and theirs. You have to complete wagering-requirements (playing through) the bonus for it to become real money – but this is a lot easier than you probably think, and its why deposit bonuses have become so popular with players, today!
Yes, Bitcoin casinos employ some of the highest levels of security online today. They have too, as were they not to, they’d risk having their Bitcoins hacked. Rest assured, when you play at a Bitcoin casino, it’s completely safe, and secure.
This varies by casino, but most Bitcoin casinos let you deposit from as little as 1 mBtc.
BTC stands for Bitcoin – and it’s a common abbreviation of the cryptocurrencies’ name. If you split a Bitcoin up into one thousand parts, you have what’s called a milli-Bitcoin – mBtc – and the uBTC is a millionth of a Bitcoin.
Responsible gambling means only gambling what you can afford to lose, and not falling into a downward spiral of addiction. It means knowing when to walk away, and when to cut your losses.
It’s not easy, and we all get annoyed when we lose – but it’s important that if you want to gamble online, you can do so responsibly and sensibly.
Bitcoin High Yield Investment Programs (commonly abbreviated to HYIP) are investment programs that aim to provide you with very healthy returns, in a short space of time. Of course, given Bitcoin’s volatility, it’s never a sure-fire thing, so you should always approach such investment with care.
Bitcoin bets are not, but transactions are. Bets are done in-house at the casino, so there’s no need for them to appear on the Blockchain. (This can change if you’re playing provably fair casino table games however.) Bitcoin transactions are always visible on the Blockchain.
Bitcoin Casinos carry a large number of advantages, and it’s no surprise to see so many players opting to play solely at Bitcoin casinos rather than conventional sites.
Below, we’ll look at some of the main advantages of using Bitcoin for your online gambling transactions.
- Fast: Bitcoin transactions are instant, meaning there’s no waiting around for money to come through.
- Private: By nature, Bitcoin – and its protocol, the Blockchain – is extremely privacy-centred, and this means you can make financial transactions without prying eyes.
- USA Friendly: While banks in the US commonly block financial transactions, Blockchain is open-source, meaning there IS no middle-man. US players can deposit and withdraw using Bitcoin all they want!
- Withdrawals can take longer than expected
- Bitcoin can be a volatile currency