Bitcoin casinos are a relatively new appearance that has taken the online gambling industry by storm by attracting an impressive number of users in a short period of time. Although relatively new, the Bitcoin casinos are quite the impressive entry on the iGaming stage, with many users vouching for their security level and unlimited benefits.
Although the Bitcoin Casinos have grown exponentially during the last years, gamblers still feel reticent to invest in the revolutionary cryptocurrency. Understanding the main principles that guarantee the safety level of online casinos is a thorough process that requires individual research.
As the Bitcoin casinos become more and more popular among players, the difficulty of choosing the best fit that suits your preferences and expectations has also increased.
It is true – bonuses and game options should play a vital role in choosing a new crypto website to wager on. However, the licensing of a casino should also be a top priority for all the enthusiasts that want to join the hype of cryptocurrencies.
When playing on a licensed Bitcoin casino, you should be more willing to have faith in that website, as the regulatory agencies offer you a guarantee of legitimacy. Such an agency will oversee the online casino processes and software, making sure the website is legitimate, fair, and safe to use for users.
Licenses are beneficial for the casinos as they can attract a larger number of players. Thus, the operators of the websites have the chance of offering their gambling services in all the territories that don’t have restrictions on online betting.
The problem arises with countries such as Spain, Italy, and Germany, as they have strict restrictions on online gambling. In such cases, the bitcoin online casinos must have a license issued from each country to welcome players from these territories. So, applying for multiple licenses could be a great asset a casino can have over its competitors.
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The entities that offer gambling licenses to the casinos are in charge of overseeing and ensuring the integrity of the websites that operate under their approval. The main role of the gambling commissions is to defend the players’ rights and make sure they have the chance to make the most of their gaming experience.
We wholeheartedly recommend users stay away from unlicensed casinos since they are constantly breaching the law by operating outside the legal ground. Moreover, they pose a real threat to players’ integrity and finances.
One of the main rules that licensed casinos must abide by is guaranteeing that all their games operate fairly, ensuring random outcomes. That’s why most reputable casinos have third-party auditing, which periodically tests out games for randomness and fair game features, so users can be at peace the results of their playing sessions won’t be rigged.
If you make the mistake of playing on an unlicensed casino, the game’s results could be manipulated by the system, so you may end up losing more than the odds had in store for you.
When you play at unlicensed gambling websites, you are not online taking the risk of having your personal data leaked, but your funds may also be in danger. It turns out it is quite the common occurrence of having your deposited funds disappear under the pretense of “technical issues.” This is just a trick that rigged casinos use to forfeit their funds.
If an unlicensed casino practices fair gaming by chance, you may still find yourself unable to withdraw the afferent winnings resulting from your playtime.
One of the first territories that offered casino licenses was Antigua and Barbuda. 1994 was when the Free Trade and Processing Zone Act was approved. This offered the Caribbean Island the chance to begin granting official gambling licenses for online casinos.
Today, all reputable online casinos should have a gaming license to appear trustworthy in the eyes of their clients. The rise of the crypto casino industry has made the countries more welcoming on introducing this new concept to their legislation. However, some territories have proved to be more willing than others.
We have compiled a thorough analysis of the main markets that operate with crypto casinos, seizing the great opportunity the progress has bestowed upon the iGaming industry.
Canada was one of the first markets that welcomed cryptocurrency into its economic system. Cryptocurrencies are so popular in Canada’s territories that most casinos constantly strive to introduce the Bitcoin payment method to avoid losing their loyal players.
According to recent studies, one in every ten citizens of the USA has made a cryptocurrency investment. Since a large part of the population already has access to crypto, it makes sense that online casinos would seize this opportunity and offer this new way of payment to their users.
Japan is another country that has shown great enthusiasm in welcoming the new digital payment method that has taken the world by storm in recent years. As a result, several firms have opened, and investors decided to seize the moment and develop the crypto market in Japan.
It turns out that 80% of the current Australian population is engaging in at least one form of gambling. So, it should be no surprise that most Australian casinos allow users to use bitcoins when making transactions since the new digital currency is rising with Aussie investors.
There are endless advantages of taking a chance on the much-hyped new currency that has become a standard of modernity for online casinos. Let’s look together at all the advantages of accessing website casinos that use bitcoins as the main payment method.
When using crypto, users have the benefit of experiencing faster transactions. In addition, cryptocurrency offers users the chance to have transactions processed almost instantly. This achievement is the bitcoin currency’s capacity to eliminate the use of third parties in the processing of transactions.
The cryptocurrency also imposes minimum fees when processing transactions since no one makes a profit. Hence, users can play their favorite games and count their winnings without worrying about paying additional fees.
Crypto transactions have the advantage of not being reflected on bank statements. So, players that want to keep their gambling private and separate it from other daily payments should be able to do so.
Licensing a Bitcoin online casino is a thorough process that requires the operator to register a casino under the jurisdiction of a reputable gambling commission.
With the great rise of crypto’s influence on the digital world, the number of online casinos that adopt this currency will surely increase in the future, as more and more users expect to have their transactions processed instantly and privately.
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