Bitcoin: what is it and what’s the use of it in casino

Bitcoin became one of the most famous and demanded cryptocurrencies in the world today. It is completely virtual and is stored in your digital wallet. You can use bitcoin to buy things online or to pay for services. However, only a few shops accept this currency, and some even have already banned it.

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Anyway, an external number of businessmen and companies (i.e. PayPal allowed customers to buy and sell the cryptocurrency) have supported and invested in the growing influence of bitcoin.
As was mentioned before, each coin is a computer file that is stored in a particular app on your phone or computer. You can easily share and receive bitcoins with other people. Also, you can be sure that every transaction you make will be recorded in the blockchain or other words in a public list.

When bitcoin first appeared nobody believed in its successes. However, nowadays digital cryptocurrency is getting wider.

How are the Bitcoin casinos’ no deposit bonus reviewed?

With its popularity bitcoin quickly became casino currency as well. It didn’t take a long time to find a way to make it adaptable for gambling. Online casinos have the same requirements and rules in terms of using bitcoins and some perks, consisting of no deposit bonuses.
In traditional ways, casinos will offer the new player a bonus. Gamblers will receive a few bitcoins just for signing up. It’s not deception or trap. Casinos aim to give the player a “free trial” and get him acquainted with the game. Remember that the rules and wagering requirements may vary, depending on the type of casino. Usually, it’s free and you don’t have to deposit any money but still be attentive.

How do Bitcoin Casinos’ no deposit bonus work?

You probably have already heard how no deposit bonus in casinos works. The system is traditional. The only difference is another currency that has its specifics.
Take into account that most of the gamble sites use mBTC (it means millibitcoin) as a unit. Currently, 1 mBTC is equal to $57 which is ₹4180.
If you received a bonus worth at least 1 mBTC then you can use it to produce your winnings. After meeting terms and conditions, you will be able to cash what you won.

Let’s see some ways of how you can play out:

  • you cash half of your winning – 0,5 mBTC (₹2090) or keep playing to get more;
  • you receive 1 mBTC right away;
  • you gamble a bonus and win half of it by the time terms and conditions are met.

Pros And Cons of Bitcoin casino no deposit bonus?

There are some pros and cons so let’s get acquainted with them as well. But don’t think about quitting just facing one obstacle. Disadvantages don’t mean problems and inability to win. Probably, it will take more time than usual to achieve something but there is still an opportunity. All in all, gambling is always a risk, right?

Benefits

One and the main advantage of bitcoin no deposit bonus is that it lets you win real money for free. Together with that, it suggests special benefits that make it different from all the common bonuses.

Value

If you know, the average bonus usually gives the winning between ₹733 and ₹1834. Let’s be honest, players don’t get a lot from these deals. In comparison, Bitcoin no deposit bonus lets you win significant figures in casinos. You can easily predict why it is so – the value of bitcoin itself is extremely high which makes it possible to win a great sum.

(this sum is equal to ₹4103677,61)

Perhaps, if you see a bitcoin value of 0.01, you won’t pay attention to it. However, it turns out that 0.01 is actually a lot and you can get up to ₹41817 of it.
Remember that bitcoin is still growing at a great speed and even if you’ll get 0.001 it might be worth a lot.

Availability

The other perk is bitcoin availability. Casinos serve BTC almost all over the world. Only the USA and Australian citizens may face some problems as those countries have restrictive online gambling laws. Moreover, bitcoin doesn’t need any third parties in the area of payment.

A bank or a government isn’t in the way of bitcoin casinos which gives confidence in serving a large number of countries.

Drawbacks

There are some flaws of the system that you should know before the game. It’s not a big deal but better to know what to expect and be ready to quickly solve a complicated question.

High wagering requirements

As was mentioned before, you can get a significant win with bitcoins. However, there is a silver lining everywhere. Together with the high winnings go high wagering requirements. Perhaps, in the beginning, you can get some “gift” as a newbie but further you’ll need to deposit money if you want to get access to your withdraws for example.

Online location

There is one more disadvantage but it’s generally because it depends on the Internet and not on bitcoin or a casino. Everything that runs on the Internet can collapse at any moment. Don’t worry about money that you keep in your storage – those are going to be fine. Unlike those money, your latest winnings might burn out and be lost forever.

Cryptocurrency Gambling Regulation And Licensing

Now let’s talk about the most important part of online gambling. Regulations and licensing. Both sides must be sure and fulfill the conditions of the game with its requirements.

Key events 8

Payment methods are one of the most significant parts of gambling online. Licensees always have to inform the Commission about any changes in the arrangements and the payments process. Customers’ money usually is accepted by gambling facilities.
Under condition 12.1.1 licensees also have to review their AML risk rating and offer a new payment method if needed.

If key event 8 occurred, the following information has to be provided:

  1. type of payment method;
  2. the provider;
  3. the rate of payment method in the AML risk rating.

Third parties

Regulation 1.1.2 specifies that licensees have to take responsibility for third parties who are involved in the payment process. To cut it short, it’s better not to involve anybody else in your payment process to avoid extra problems.

Other details

Don’t forget about wagering requirements and different kinds of limitations. Talking about maximum winnings, you have to take into account that many online casinos wouldn’t let you win more than 0.02 BTC (which is ₹80700). So, you won’t be allowed to win infinity funds. Minimum cashout is the other important point. It goes along with no deposit bonus and amounts to 0.001 BTC.
The maximum bet at an online bitcoin casino is no more than 0.03 BTC considering the active bonus. However, you may use your no deposit bonus to satisfy the requirements.

Available Games To Play

There is an enormous number of games you can play but we’ll share the best of them. These are top-3 in India and perhaps the most convenient and interesting games out there:

  1. LeoVegas (100% bonus up to ₹80,000);
  2. 22 Bet (100% bonus up to ₹10,000);
  3. Casumo (200% bonus up to ₹2000).

Down below you can also see each casino’s features and rate and decide whether you want to join this particular game or not.

Bitcoin And Crypto Specifics

Previously we have discussed most of bitcoin’s specifics and its usage. Now let’s revise some of them and dig deep down to find out even more.

Commission

It’s important to mention that the cryptocurrency commission is special. You won’t believe your eyes but the commission completely depends on you! Although you will face some transaction fees, the other payment details are free and voluntary.

Set up

As you know, usually opening up a new bank account takes way too much time, paperwork, and nerves. Fortunately, bitcoin is much easier to set up. All you need is to make an address that takes only a couple of seconds and a strong password which you have to remember under any circumstances.

Non-repudiable

It’s an advantageous characteristic of cryptocurrency. It means that once bitcoin is transferred, it can’t go back until the receiver is willing to do so. Also, he can’t claim that he never got any bitcoins.

FAQ

How can I get more Bitcoins?

First, you need to download a Bitcoin wallet app. It is in free access and you don’t have to pay for it. There you can store your money, share them and receive it from others. Second, buy some Bitcoins with your credit card or you might use a bank transfer at an online Bitcoin exchange as well. That’s it! Now it’s the best time to go ahead and fund your online bitcoin casino.

Can I get Bitcoin for free?

Sure, you can! Just buy out no deposit bonuses at Bitcoin online casinos. Those should be completely free to claim. In addition you may get some perks like free spins and use them to play for real money. If you’re lucky, you can also withdraw something.

Are Bitcoin casinos legit?

Of course, they are. Bitcoin online casinos work just the same as any other gambling site. The only difference is that they process digital currency. They are also regulated and licensed, having a wide range of high-playing casino games which provide players with a lot of bonuses and 247 customer support.

Conclusion

Bitcoin is already becoming very demanding and a lot of authorities, companies, and businesses show support by investing their money in it. Indeed, it has become a decent way to make money as its value rises with every day. Online casinos also have figured out the way to use BTC (i.e. btc in blackjack, bitcoin in poker, and so on). You can easily get the hang of it right after the first game. By the way, bitcoin with deposit and no deposit bonuses can help you to win more money than you could have imagined. Before starting your gambling “career” make sure you’ve read all the requirements and met regulations and conditions as they are a bit different from the average bonuses. Now, when you’ve learned all the specifics, work out your strategy and go bust your bankroll!