The phenomenon is starting to gain momentum, with the emergence of new online gaming platforms that adopt Bitcoin as a means of trading and as a way to bet with a token marked with bitcoin.
Bitcoin is the unit of account of a decentralized electronic payment system. The Bitcoin protocol is particularly safe. It enjoys the good work of contributors and especially the best cryptographers. All transactions are listed in the Blockchain which is a central and public registry. The recognition of Bitcoin has become essential on all five continents. Bitcoin is a collective currency controlled by the users themselves, secure thanks to the “Blockchain” and finished (no more than 21 million BTC). The course of Bitcoin is however buzzed according to the news that affect cryptocurrency. In the direction of the rise (price of BTC multiplied by 10 in 2017). But also in the direction of the decline because the BTC, the declines are commensurate with the increases because the BTC is very sensitive to rumors about its very existence (proposed ban, regulation …) Despite these shocks, Bitcoin appears as a highly demanded asset culminating at more than 8000 € in February 2018.
Once registered on a Bitcoin Casino, by visiting the cashier section of the casino, the player will view a Bitcoin address. This Bitcoin address always consists of a long series of letters and numbers comparable to this one: 1FGAftzSTztFSB2LMwsrdCKTyqGY6zr3sU
To credit his Bitcoin account in the casino in a few seconds, the address retrieved in the “Cashier” section of the casino, must be copied and pasted in the ‘Send’ area of the user’s Bitcoin wallet.
Several methods exist to have a Bitcoin wallet but the simplest method is the online Bitcoin wallet. The most used online portfolios remain blockchain.info (18 million users worldwide). It offers a French version => create a bitcoin wallet online
Once the payment is transferred to the casino, the bets appear as mBTC (Millibitcoin or Millibit) 1 BTC = 1000 mBTC
According to the Bitcoin protocol, there will never be more than 21 million Bitcoins for all users on the planet. This scarcity effect contributed to the continuous increase in the price of the BTC. The price of Bitcoin was multiplied by 12 in 2017 before losing half of its value over the first 8 months of 2018.
What will Bitcoin bring me to play on an online casino?
This is the first legitimate question a casino player will ask. The answer to this question can be summarized in a few points:
Secure transactions without banks: transaction security is Bitcoin’s major contribution to the online gaming industry. Because the payment stage is crucial in an online casino, it is greatly facilitated by the use of Bitcoin. Bitcoin has been specially created for use on the Internet. Bitcoin allows payments by eliminating the risk of counterfeiting or usurpation typical of traditional payment systems. Bitcoin does not require any transmission of sensitive data such as those corresponding to a credit card. Recognized and used globally Bitcoin is suitable for international transactions.
Alternative to credit cards and online portfolios: Online portfolios such as Skrill or Neteller emerged in the early 2000s as an alternative to credit cards. But these portfolios in turn impose varying restrictions depending on the country or casino. For the player, the competition and variety of game providers is becoming weaker. Opting for a pure Bitcoin casino such as Fortune Jack (allowing deposits and withdrawals in BTC) gives access to 16 game publishers with a player registration that is limited to its only email address.
Low cost transactions: this is one of the undeniable advantages of Bitcoin. Transactions in Btc have become a very inexpensive myen to transfer money. (It must be recognized that in January 2018 the congestion state of the network has generated higher costs before getting into the order). The other solution is to use Bitcoin Cash, it is a cryptocurrency that has been attributed to all Bitcoin holders on 01/08/2017 (you may have one) with a bitcoin cash (BCH) for 1 Bitcoin (BTC). The transfer costs are very low and Fortune Jack accepts them. Playing on an ether casino is an alternative accepted by some online casinos since Fortune Jack or mBit allow Ether deposits (ETH).
Discreet transactions: if curious looks can look at the expenses made by credit card on a casino. An expense in Bitcoin does not appear on any banking document. Bitcoin thus protects the privacy of its user who does not have to prove that he is the owner of the means of payment (eg credit card). These properties Bitcoin, exempting Bitcoin casinos to arm themselves with the usual cautious precautions before accepting a payment by credit card and especially before settling a winner. On a Bitcoin casino, no scan of identity documents, proof of address or copy of credit card … To play and cash his winnings, on a Bitcoin casino, the personal elements communicated to the casino are generally limited to one email address and a password. Moreover, insofar as the online casino does not know the identity of its client. he does not have his phone. Thus, the customer does not run the risk of being harassed by phone.
Quite fast transactions: A Bitcoin casino is by nature a casino that pays quickly because it can not hide behind the argument of ‘control’ to trigger the payment of a winner. However, it should be noted that a transaction in bitcoin can sometimes impose long minutes of waiting if the network is congested because of the growing craze for this method of payment.
Casinos without cheating with the Provably Fair technology that Provably Fair means? This term refers to a cryptographic technology that is the must in Bitcoin casinos. Provably Fair rebalances the relationship between the player and the casino by allowing control by the player. It allows the player to check at any time the equity of a draw, a roulette or the slot machine on which he plays. This technology is for the moment only a limited number of games in some Bitcoin casinos (eg BitStarz). It is not found in the world of online casinos that do not use Bitcoin and does not concern land-based casinos. Even if all the games are not concerned by the Provably Fair, the casinos that integrate this tool are transparent and preferable to those who prefer the traditional opacity.
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Bitcoin casinos generally adopt the Ezugi service which is, to our knowledge, the only service that allows table games