Gambling has always generated a lot of interest, from the days of simple card and dice games played by workers in their downtime to modern online casino games. Now there is a new way of gambling, or at least a new way to finance it. This way is called Bitcoin.
If you want to kick-start your journey as a Bitcoin gamer, you’ll need to first find secure Bitcoin gambling sites which accept BTC payments. There are few at the moment, but the number is growing. There are even several sites now which are exclusively for Bitcoin players.
But First, What is Bitcoin?
Bitcoin is a name you might well have heard in the news, but you may not know what it is. It is a cryptocurrency which is a form of electronic currency. There is no physical coin or banknote which represents it and all transactions in Bitcoin (BTC) take place online. When the currency was launched in 2009 one Bitcoin was worth approximately $0.003. At one point in 2017 the value of 1BTC reached almost $20,000.
You can see why it’s popular among speculators as the wild fluctuations in value make for some potential large profits when buying or selling. Now it’s possible to use Bitcoin for gambling purposes.
How Do I Gamble with Bitcoin?
You gamble with Bitcoin the same way as you do with any other currency. You transfer it into your online casino account and play games such as Bitcoin poker. It is not necessary to play with one whole Bitcoin at any time. There are smaller increments such as a millibitcoin (one thousandth of a BTC) and satoshi (one hundred millionth of a BTC).
Your raw gameplay and experience is not affected, but you get the benefits of using a cryptocurrency being fast, anonymous, safe and secure.
Bitcoin Gambling Sites
If you want to play poker with Bitcoin, then there are a few sites which can help you. The clue to look for is any casino or poker room with ‘Bitcoin’ or simply ‘Bit’ in its name. You’d be surprised by how regularly these crop up.
One of the greatest things about these Bitcoin casinos is that they offer welcome bonuses just like any other online casino. While you might be used to seeing 100% first deposit bonuses on all amounts up to $100, how would you feel about 100% on 1BTC? That’s right, that means a bonus of – depending on the value of Bitcoin at that moment – anything up to $20,000.
Bitcoin is of course itself a gamble as the wildy-fluctuating exchange rate can make it a little volatile. You will need to keep an eye on this for when you decide to cash out too. You don’t want to spend weeks playing poker and doubling your bank to 2BTC only to discover it’s now worth less than half of what it was, and you’ve actually lost money.
The marketplace is fairly packed, and all Bitcoin casinos and gambling sites are aware that they must compete to survive. That’s why you’ll find a massive collection of casino games and fantastic offers at these new sites.