Bitcoin and gambling have started to develop a blossoming relationship, with Bitcoin becoming the key currency for many new online casinos. For those with an appetite for risk, there are many casinos that are now facilitating more and more altcoins, too. There are some things to know before getting started with cryptocurrency gambling. Here are a few things that everyone should know.
Withdrawals: Speed & Cost
Many conventional casinos will estimate days as the waiting time for withdrawals. Not Bitcoin, though. Bitcoin withdrawals are notoriously fast, taking usually between minutes and hours.
Those accustomed to using Bitcoin commercially are probably aware of its instantaneous transactions. However, what is truly an even greater advantage is that your winnings are not chipped away at by transaction fees. Withdrawing conventional currency from a casino often incurs a cost, but almost all Bitcoin casinos will not apply charges to Bitcoin withdrawals.
Not only is online gambling illegal in many jurisdictions, it is often looked down upon by many. It comes as no surprise that a lot of the Bitcoin casino demand is driven by privacy advocates who want to remain anonymous when gambling. The reasons are twofold: firstly, Bitcoin is, for the most part, anonymous in its nature, and secondly, Bitcoin casinos understand this and the concerns of its users and therefore do not ask for personal information that you do not wish to share.
Bitcoin casinos, for the most part, genuinely care about 24-hour support. The emphasis on round-the-clock support is because, when dealing with binary currency, it typically has the potential to go wrong. On top of this though, new users who are not familiar with cryptocurrencies may have many questions, as it can often be overwhelming.
Using Bitcoin, as opposed to conventional currency, has lowered the barriers to entry for starting up a casino. There is large growth in the industry with lots of new bitcoin casinos popping up regularly. It is important to check reviews before using a casino to ensure it is safe.
Fortunately, there are more good ones than bad ones, generally, with many around receiving very positive reviews. Taking a look around beforehand though will also help to catch some of the many promotions on offer, which is always a great way to kick start your Bitcoin casino downtime.