Should I Gamble With Bitcoin?

One of the biggest factors that make Bitcoin casinos special is the level of transparency you witness. All games are fair and players get to check the fair play element after every roll of dice or spin. At traditional online casinos transparency is checked very rudimentarily.

Bitcoin casinos are completely secure and reliable. This is because you don’t have to volunteer too much personal information while transacting with Bitcoins, be it while processing a withdrawal or, even better, while setting up a Bitcoin casino account.

The decentralized nature of Bitcoins makes it possible for players from anywhere in the world to use it. Bitcoins are not governed by any regulatory authority and therefore the concept of legal restrictions doesn’t arise. Traditional casinos come with their own set of restrictions in terms of player acceptance based on the gambling laws in operation in the player’s country.

Bitcoin’s high valuation, albeit fluctuating, makes it extremely popular and sought after.

• Express transaction speeds. Bitcoins are not governed or regulated by any third party like financial institutions, banks or even governments. The lack of regulation by a third party ensures instant processing, withdrawals and payments. The time period for withdrawals depends on the casino’s policies.
• Anonymous payments and withdrawals. Unlike payments with fiat currency, Bitcoin transactions are completely anonymous. This has made for the rise of anonymous casinos The only information available to the casino is the Bitcoin wallet address; players are not required to furnish any sort of personal information.
• Zero or low fees. Bitcoin transactions usually come with no fees. And in the few casinos that fees are applicable, the amount is negligible.
• Secure transaction environment. When it comes to Bitcoin gambling all payments are secure and this makes it almost impossible for anyone to hack into a player’s accounts. Players can not only be guaranteed safe and hassle-free gaming but also check important details like account history and other information.
• Provably fair gaming. This is a concept that is unique to Bitcoin casinos and other casinos that accept cryptocurrency. Players are able to independently verify the fairness quotient of a game after every outcome, be it the roll of the dice or the spin of the slots reels.

It is important to be able to freeze on a style of play because this will help determine the kind of games you will go after. Based on your play style you can pick up one of three possible slot types:

• High variance pokies: These are slots that offer huge payouts; the catch is that they don’t pay out too often. They are good to use if your play style is gung ho, i.e. you play with the intent of picking up a huge win. The negative element to high variance games is that they don’t pay out too frequently. However, should you hit one of them the wins are mammoth.
• Low variance pokies: These are games that pay out frequently, but pay nominal amounts. The chances of a big payout are very low with these games.
• Medium variance pokies: These games use a combined strategy of high variance and low variance. The percentage of low wins to high wins is more or less the same. They come with loads of cool features and exciting bonuses to give you a bigger shot at winning. When it comes to medium variance pokies, the key is the timing; playing them at the right time is important. For instance you could start off playing aggressively using a high variance game. If you win you get a sizeable payout. And if you see that wins are quite infrequent, you can switch to playing low variance games to even out the scales a bit.

• Bitcoin volatility. Cryptocurrency is volatile by nature and the pricing depends on multiple factors. High volatility is a risk because you may end up winning a bit, but if the price of Bitcoins has dropped from the point it was at when you bought it, you run the risk of getting a lower valuation when you convert it to fiat currency.
• Vagueness of legal status. The vague legal status that is associated with Bitcoins makes it a great payment option to use as it is not governed by any third party. However, there is a risk involved as well: should things go wrong you wouldn’t have a legal body to register a complaint with if the jurisdiction you are playing from negates Bitcoin gambling.
• Limited number of Bitcoin casinos. Despite the enormous advantages that Bitcoins offer, the number of casinos accepting this payment method is still limited. You can play with Bitcoins only at specific casinos.