Online bitcoins casinos are starting to emerge to cater to the needs of those who wish to gamble without leaving their homes. While this is true, Bitcoins don’t apply to conventional land-based casinos, either. But some of today’s biggest casinos simply use alternative currencies or wholly accept and facilitate currencies derived from virtual environments, like Bitcoins.
And why is that? There are many theories behind this, with some people pointing to the need for privacy and the relative anonymity of the Internet as a reason. Others think that it allows for greater entrepreneurial control given that there are no physical records to fall prey to hackers or scammers. Many online casinos also take advantage of bonus systems. The idea being that if you gamble a certain amount you can get a certain bonus – whether it’s cash free drinks or whatever – and that system can be used to lure you into playing more, thus earning more money.
However, it’s also possible to play at online bitcoin casinos using cash, though not everyone will want to do this. For instance, there are certain deposit methods, which require you to open an account with the gaming site itself, rather than with a specific bank or credit card provider. This has the obvious advantage of giving you access to larger amounts of money, but means you have to rely on the discretion of the website to tell you what the withdrawal limit is. These accounts usually have greater limits than what you’ll usually find with regular card or banking transactions, as these bonuses tend to be a bit larger.
There are several other payment methods which aren’t offered by all online casinos. One popular option is a one-time registration process where you make a deposit and then wait to receive a code by email. Once you’ve got the code, you can either withdraw your money or put it towards winning bets on the site. Some sites will also allow you to make a second deposit after you’ve won a game, again, by emailing your registration code.
If you’re thinking about using the technology behind bitcoin gambling, you’ll also need to think carefully about the security options available to you. Any website that offers you the opportunity to play using this form of currency should ensure that your details and funds are kept secure at all times. Usually this means putting them onto an encrypted database which only you can access. In addition to this, you should be able to change your password on a regular basis, just to make sure that nobody else has access to the details you put into the wallet. It’s always a good idea to carry along a paper wallet just in case – even if you use an address book, there’s always the possibility that you can lose your login details somewhere along the line.
One of the problems you may encounter when playing at an online casino using the technology known as bitcoin is that the transfer of your fund charges can be very high. This is due to the relatively low liquidity of the transactions, and also because of the high transaction fees that are charged by the various exchanges. Fortunately though, there are solutions you can implement in order to reduce the transaction fees you pay. One of these is by setting up your own wallet. An address book is fine, but it may not be very secure. If you want to use your own private wallet instead, you can download one of several free software applications which will act as the intermediary between your public and private key files, and the transactions.