It is evident that the evolution of technology has brought the fun of gambling right at the drop of a hat. Playing online games in a conventional style has become so mainstream. Online Bitcoin casino games not only give you a chance to win a good amount of money but also come with double bonanza rewards, fun, and excitement for every game played. Let’s understand the pros and cons of playing at an online Bitcoin casino.
- The Pros of Playing Online with Bitcoins
Playing online with Bitcoins has numerous benefits that are impossible to find in any other casino. Even if you are not a regular player it is worth knowing the benefits so that your chance to win doesn’t slip out of your hands. So let’s prepare ourselves to grab the opportunity.
Secured: Bitcoin provides you a secured transaction. There is no third party intervention to authorize a particular transaction; there is also no need to disclose personal or banking details. No other authority knows about your transaction, unlike banks where the authorities need to verify your transaction.
No chargeback issues: You will not have to deal with such a situation where you have to deal with chargeback problems, which often come up if you are playing with real money. So, no question of claiming the money which is never gone.
Privacy & anonymous transactions: The identity of players and the operator is safe at a Bitcoin casino. None of them has to disclose their name, address, or any sort of personal details to each other.
Independent of outside authorities: There are banks that don’t accept gambling money due to which the gamblers choose other modes of payment like their debit card, credit card, or e-wallet. Bitcoins don’t need a bank as a medium for a transaction.
Instant withdrawal: In case you have to deposit funds even in an online traditional casino, they will deposit the money instantly. However, if you want to withdraw your funds, it will take a few days or even a week’s time. Whereas Bitcoin ensures hassle-free instant withdrawals in just a few minutes. Your operator simply needs your Bitcoin address to confirm your payment and once confirmed your fund will be in your control.
Fair games: Gambling is more about the financial transaction and this raises the concern for the fairness of the games. The main advantage that Bitcoin casinos bring in for their players is that it offers provably fair games. You can anytime verify for the outcome of the game offered.
Bonuses and promotions: Casinos that accept Bitcoin, provide exciting rewards to its players for their first deposits. You can get a chance to win anywhere from 1 BTC to 5 BTC. 1 BTC holds a very high value which is better than getting rewards in any other conventional currencies.
Volatility positives: Bitcoin’s volatility makes it an advantage for its users, as the price of Bitcoin rates go high, you can withdraw the fund immediately, get it exchanged for other fiat currencies and keep it into your bank. Never let this opportunity to slide out of your hands.
- Cons of Playing Online with Bitcoin
Now, let’s understand the drawbacks of using Bitcoin while playing at a Bitcoin casino.
No License- Casinos that accept bitcoin doesn’t require to hold a license. Therefore the casinos will rather choose a bitcoin payment process than applying for a license which would cost them more.
Few in number: In spite of the popularity, Bitcoin has gained, Bitcoin casinos are still new and less in number. Players’ unwillingness to learn the Bitcoin payment process makes it less popular. Few players just play for having fun and don’t care much about the advantages they get if they play with Bitcoins.
Volatility Negatives: Bitcoin is highly volatile in nature, with the decrease in the price of the exchange rate your Bitcoin value goes down and it may not hold the same value as on the day it was received in your wallet. Financial risk is involved to an extent.
Websites delay payment: There are some websites where they manually withdraw the Bitcoins due to some security protocol. This can take much longer than a fiat currency withdrawal process. Therefore, it is important you read all the terms and conditions of the casino that you choose to play.
Minimum wager: Playing with Bitcoin has a minimum wager requirement which has to be deposited to be eligible to withdraw your winnings that you acquired with the bonus.
No refunds: In case of any payment dispute, there is no chargebacks or refunds facility in the Bitcoin payment processor. In conventional casinos, however, you can claim for the money.
Weighing both pros and cons of playing at a Bitcoin casino, it is recommended that you should at least try playing with Bitcoin once in order to enjoy the rewards and benefits. That you will not regret the play can be guaranteed.