Bitcoin casinos are a trend these days. They promise plenty of cryptocurrency bonuses, hundreds of games and a system to check the game’s fairness. What’s more, they have virtually no commissions, whether you use BTC, Ethereum, Monero or USDT.
Despite all their cool features, not all bitcoin casinos are created equal. For example, some sites don’t have known addresses. Or they lack one or more of the following crucial attributes of a secure bitcoin casino site.
A valid license
When it comes to licensing, bitcoin gambling sites are like regular operators. They need a valid licence to operate. In the UK, they need to get permission from the UKGC. In Malta, they need to get permission from the Malta Gambling Authority.
If they cross Atlantic City, bitcoin casinos must also get licenses in states where online gambling is legal. Against this background, check for a licence as soon as you connect to a new gaming site.
If there is no license, you can contact support and ask why their gambling site doesn’t have a license. For example, they may not have displayed it on the site.
Bitcoin casinos shine in this area, at least the ones that offer bitcoin games. They are created using blockchain, a decentralised ledger that is both transparent and secure. Blockchain also helps developers create a system to check the integrity of the game.
As a result, you can play bitcoin games with peace of mind, as you can now prove whether they are fair or not. However, when it comes to non-bitcoin casino games, there are several ways to find out if they are safe.
For starters, you can check if there is an independent auditor available. Many online gambling sites invite eCOGRA, iTechLabs and Thwarte to check the integrity of their games. These auditors also check payment systems to confirm that the casino is paying out winnings to winners without problems.
In the absence of independent auditors, look out for software providers. Secure casinos work with well-known developers such as Microgaming, Playtech, NetEnt, Play’nGO, Evolution Gaming and Big Time Gaming.
Gone are the days when people had trouble trusting bitcoin. No one associates it with crime on the dark web anymore. Instead, millions of people have embraced BTC as a safe alternative to fiat currencies.
That being said, Bitcoin is not the only payment method you can find at gambling sites. You can also use cards, bank transfers, e-wallets. With all these options, you can deposit anywhere from $10 to $10,000.
Bitcoin, however, tends to have larger limits. PayPal limits limit you to $10,000, and you can deposit up to 5BTC, which is $50,000. You can withdraw unlimited amounts. However, big limits mean nothing when you’re in an insecure casino.
You need reassurance that your money will be safe as long as you play in the casino. And that you will be able to withdraw your money when you win. This is only possible in the safest casinos.