Whenever we try out a new online site, the first question to pop into our minds is ‘is this safe’? We have spent years being told to be cautious on the internet because you can easily fall into a trap and have your money stolen from your account.
You can’t blame people for being skeptical about online bitcoin casinos, especially since this could be the first time people are hearing of them and don’t have enough knowledge and experience to deem them as safe.
In today’s article, we will go over the features that make up a bitcoin casino and determine once and for all whether these are safe or not.
License And Security
This is the first thing you ought to check because it’s the first thing that online casinos need to start operating. The license can be found at the bottom of the site, and it’s important to check that the license came from a reputable authority.
Having checked that the license the casino has is one from a trusted authority, you would have peace of mind that your personal and financial information is safe.
Moreover, have a look at the other ways a casino has invested in its security. Make sure that it uses the latest software and constantly updates their security according to the latest advancements.
The best casinos have encryption technology software, firewalls, and data protection services to reduce the risk of third-party invaders from stealing your data.
Bonuses And Rewards
The gambling world is a competition; a competition to win the game and a competition between companies. Every company wants to be the best one there is on the market and the one that people flock to when they want to gamble.
In order to stand out from the competition, casinos offer their customers bonuses and rewards. Everyone loves a bonus, especially when there are no deposit bonuses, which means that you can start earning money and rewards without having to deposit money from your own account!
Apart from money, you can win free spins or free bets. Casinos are able to give out such prices because they have a good stream of revenue. Besides, people who have no experience in the casino world can use the free bets and money to start getting the hang of the games.
Once they feel confident, they start using their own money, but they’ll be comforted knowing they’re not losing their own money during their first few games.
Casinos also have VIP memberships where you will be able to feel like a star and have a wonderful casino experience. Being a VIP member will give you access to secret tournaments that normal players can only dream of being let into! So, if you do become a VIP member, it’s OK to brag!
Pro Tip: Sure, these bonuses, rewards, and memberships are great and contribute to your casino experience, however, you should not let them decide which casino you are going to choose.
With so many casinos popping up and claiming to be trustworthy, it’s important not to let a bonus blind you from the other important factors.
Paying With Bitcoin
There are several advantages to paying with bitcoin:
1. Convenience And Liquidity
Bitcoin’s ease of use and adaptability as a currency are two of the digital currency’s most appealing qualities. As it only takes a few minutes to move bitcoins from one user to another, this digital currency can be used to pay for goods and services at a growing number of locations throughout the world that are now accepting it.
This makes it simpler to spend money in another country and convert it to the currency of that country, with the added benefit of incurring minimal to null transaction fees. Additionally, selling bitcoins is simple and can be done at any time.
2. User Transparency
Despite that bitcoin is not completely anonymous, it does provide its users with a degree of transparency that other payment methods do not offer.
Bitcoin users are identified by numerical codes and might have several public keys. Due to this, there will be no public tracking, and the user’s transactions will be impossible to link back to them. This means that if you don’t want your family or friends to know about your gambling habits, paying with bitcoin is your best bet!
Thanks to blockchain technology, even while the transactions are able to be permanently viewed, they are still protected from fraud. On top of that, as the owner of the bitcoin wallet, you are the only person who would be able to view the total number of bitcoins that you have.
You might construct a new wallet address in order to keep your information private and secure even in the event that the address associated with your wallet was made public. This would provide an additional layer of protection against prying eyes.
Since users are not required to provide any other personal information in order to conduct bitcoin transactions, user privacy is increased as compared to traditional monetary systems, which leave users vulnerable to the disclosure of personal information by financial institutions such as banks.
I mean, if all of this doesn’t convince you that bitcoin casinos are safe, then I don’t know what will! But, the list continues!
3. Independent From Central Authority
Bitcoin is a decentralized currency, which means that it is not monitored by the government or any bank. This indicates that the government will most likely not put a hold on your coins or demand them. There is also no realistic method that a taxation system could be developed for Bitcoin transactions. Since prices aren’t tied to government regulations, this should grant people more independence and control over their personal finances.
4. High Return Possibility
Bitcoin prices change daily. Take the 2017 market for example: bitcoin was worth $975.70 in March, and then worth $20, 089 in December! That was just a nine month difference, so imagine how it will continue to rise throughout the years. Experts speculate that it will reach $500, 000 by 2025!
This goes to demonstrate that although there is high volatility in prices, users of cryptocurrencies can regard this as one of the perks of bitcoin because it might result in a high return potential.
An increasing number of users believe that bitcoin has the potential to become a worldwide currency, which has led to a growing number of investors and businesses deciding to use it. This contributes to raising the larger return potential, particularly for those individuals who purchased it at a lesser price.
Reputation
Lastly, each casino has its pros and cons, but what you should be looking at is the customer reviews. Customers who have had a bad experience won’t hold back on detailing their incident and warn others about this casino.
Make sure that the casino you choose has several 5-star reviews, and if there happens to be a negative review, check to see how the casino handled it. If they ignored the customer or got angry at them, then that’s a sign to run. But, if the casino apologized to the customer and adjusted their service accordingly, then that’s definitely a good sign.
In A Nutshell
As you have seen, bitcoin casinos have taken many measures to ensure they are the best of the best; from having a state-of-the-art security system, to providing players with attractive bonuses, and the anonymity that bitcoin itself brings with it!
At the end of the day, as long as you conduct the proper research to ensure that the casino you have chosen is secure and reliable, bitcoin casinos are safe and can give you a wonderful casino experience from the comfort of your own home!
