The rise of cryptocurrencies over recent years has had an impact on several industries. Gambling is one such industry, and many of the best online casinos offer Bitcoin as a payment method.
Some of these casinos work exclusively with cryptocurrencies, while some are more traditional gambling sites that simply have integrated crypto on top of their fiat options.
This post will take a look at the advantages of joining a Bitcoin-exclusive casino on the web versus picking a hybrid one.
Advantages of Hybrid Bitcoin Casinos
Let’s start with the hybrid Bitcoin casinos. Usually, those are traditional gambling platforms that have been around for a long period of time.
They offer classic payment methods such as Visa, PayPal, Skrill, and similar. At some point, they decided to add Bitcoin and potentially other cryptocurrencies to their portfolio.
If you decide to join an online casino of this type, you will be able to enjoy the following benefits.
Such online casinos often have a strong reputation and are licensed by respected gambling commissions such as the UK Gambling Commission, the Malta Gaming Authority, and similar regulators.
They are known for protecting the customers and monitoring all actions of every single casino. Your money and personal data will be safe with most casinos backed by such a name in the industry.
In comparison, BTC-exclusive operators are usually regulated by offshore gambling commissions that are not on the same level.
Better Products and Higher Variety
Another advantage of the experienced hybrid casinos that work with Bitcoin is the quality of their products. They use the services of some of the best studios on the market and offer the best games available. It could be slots, card games, live casino tables, video poker, you name it.
On top of that, the variety usually is much higher compared to Bitcoin-only casinos. Many of the leading platforms out there can offer hundreds of different titles. You would struggle to run out of fresh games to pick from and new options are added all the time.
Other Payment Options
The option to pick different banking methods could be useful. You can make deposits or withdraws with Bitcoin, but decide that you need the money in your credit card or something else in a certain situation. It’s handy to have a choice between many reliable providers.
Advantages of Bitcoin-Only Casinos
Your other option would be to pick a Bitcoin-only casino. This means that the gambling platform will only use BTC and potentially other cryptocurrencies. You won’t have access to mainstream banking options that work with fiat currencies.
Here are the main reasons to do that.
No Country Restrictions
Certain countries like the USA, for example, have restrictive online gambling laws. They don’t allow local citizens to use the services of internet casinos, so most of the traditional sites simply don’t accept such players.
This is not a problem for BTC-exclusive casinos. The unclear status of cryptocurrencies in most parts of the words makes them the perfect option for players from restricted territories.
No Personal Information Required
Many Bitcoin casinos won’t require you to add personal information or go through boring Know Your Customer (KYC) procedures, unlike the hybrid casinos. You can simply open an account using your email or in some cases, you don’t even have to do that.
You can stay completely anonymous and that’s one of the core advantages of Bitcoin in general.
Smaller Minimum Bets
If you have a small gambling bankroll and don’t want to take big risks, you should probably pick Bitcoin-only online casinos. Most of them come with lower minimum wagers, so you will be able to last longer if you have limited funds.
There’s no right or wrong choice here. The hybrid Bitcoin casinos offer a better service overall and they are safer on average. However, the exclusive crypto gambling sites are available to players from all over the globe and are often anonymous.
Picking either option depends on your personal needs and requirements.
How Casinos Are Embracing Cryptocurrency
Digital currencies and blockchain technology have had an immense impact on several industries across the globe. One of the areas where this impact has been very profound is in the gambling sector – which has also been known for embracing the latest technologies. Gaming operators have always been at the frontlines when it comes to trying out new and innovative technologies all in a bid to keep their customers happy and interested.
That said, it was only a matter of time before cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum, Ripple, and Litecoin among many others made their mark in the gambling industry. All of the features that these digital currencies promise are, without a doubt, very desirable features for gamblers across the world.
The result is a mutually beneficial arrangement where digital currencies get the necessary boost to go mainstream while the gaming operators get a front-row seat as the world ushers in the new age of next-generation digital payments. Naturally, there has to be a framework for this and thankfully its already being implemented in both land-based casinos and in online gambling platforms.
Crypto in Land-Based Casinos
Cryptocurrencies, since their conception, have always been digitized forms of payment. However, nearly everything is digitized nowadays. Still, brick-and-mortar casinos rely greatly on existing systems all…
Reaching true Bitcoin anonymity through the use of mixers
There used to be a time when Bitcoin transactions were considered fully-anonymous. Back then, cryptos were only getting started, and Bitcoin was pretty much the only one that was used, apart from a handful of the first altcoins that followed. However, as the crypto industry continued to develop, current blockchain analyzers were created, and it became clear that Bitcoin’s transparency also includes tracking the coins’ movement, even when you are simply withdrawing them from your exchange to your wallet.
What are Bitcoin mixers, and why do you need them?
Bitcoin mixers, as the name suggests, are online services that mix Bitcoins in order to disrupt their traceability.
Let’s say that you have a certain amount of BTC in your wallet on your crypto exchange of choice. With all the exchanges having to follow KYC/AML procedures, that means that you need to verify your identity, so that the exchange — and therefore, the authorities — will know exactly who you are and how much money you earned through trading and investing.
Once you withdraw those coins to your wallet, blockchain analyzers can track the transaction, and so your wallet…
The Bitcoin Meltdown is Chance to Double Your Bitcoin
Most of the cryptocurrency holders have never felt a day so bad.
After a blustering day of trading which saw Bitcoin price drop from $7,950 to $3,800, the massacre caused the worst sell-off to set a new 2020 low which not seen since April 2019.
The history of bitcoin only has a day in 2013 to compare a 40% fall, at that time bitcoin once dropped from $266 to $50, that was also a day when despair defeated the belief of bitcoin and almost no one could foresee bitcoin can recover and prices will reach $10,000 in a few years.
“Be fearful when others are greedy and greedy when others are fearful.” This is what Warren Buffett said about stock market and you can see the stock market never dies, it is just rise and fall happen in a different order at different times.
So it is with bitcoin. The bitcoin meltdown is a chance for a few bitcoin traders while the others are running away.
One typical way is to short bitcoin. Futures trading allows traders to make profits out of the future price difference of the derivatives. However, when during horizontal movement of prices, futures trading may gain you fewer profits to cover the possible loss of the margin.