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Bitcoin is a type of digital currency which is created and controlled by digital encryption techniques. It is a "peer to peer" monetary transactions system which is decentralized from banks. This process of generating, transferring and verifying digital money between two people occurs through open-source software and without the mediation of any intermediary or centralized bank.
You can buy through exchange companies which send you bitcoins in exchange for the money you pay them. For example: Kraken.com, BTC-E.com or Localbitcoins.com. You can also buy Bitcoin from people who have them and want to sell them. You can buy them using any payment method which is compatible with the bitcoin seller. You can buy bitcoins in many countries in exchange for cash, with debit or credit card or using any other compatible payment methods.
As you already might know, the price of bitcoins is extremely volatile and you can check the price trends during the last three months to decide if it is a good time to buy.
Bitcoin wallets are electronic accounts to receive, send and maintain this encrypted currency. You can create your bitcoin wallet through two different methods, either by installing currency software on your hard drive or by registering on any bitcoin wallet website. Both types of wallets have advantages and disadvantages in terms of security.
Provably fair gaming uses a cryptographic hash function, which is an algorithm used to create an encrypted hash value against the server and the client's seeds. In general, the fair game procedure takes place following these steps:
Technically speaking and according to cryptographic hash functions, it is not possible for a casino to trick a player, but this is a money game and money moves greed. Some malicious casinos use tricks such as software disconnections, not paying and other kinds of tricks to fool players. So it is always important to look for reviews and feedback from previous players and check website reviews like the ones we are offering here.
On this site we upload the information as soon as we know about any type of bitcoin-related online casino frauds, and post notices about it immediately.
There are many ways to know if a bitcoin online casino is fair or not. You can read different reviews and feedback about any of the casinos you are interested in. You can also make sure that the results generated by the casino are created locally by recording the hash function of the server´s seeds and the customer seed that you enter in the bitcoin online casino websites. You can also take note of the explanations about fairness of the system which some casinos offer to their users. Certificates like eCOGRA, TST, and iTech prove that the games has fair RTP.
It doesn't take long to make a deposit and withdraw bitcoin money. The process is very fast for small quantities if you have a wallet account ready for use. It usually takes around 2 to 10 hours for larger amounts. Normally these transactions appear as "pending" for a certain period (until they are made). So it is very fast and easy both for small and for large quantities.
It is important to understand that what lengthens the process of withdrawing large amounts of money are the security measures that the bitcoin casino puts in place. As a matter of fact, bitcoin transactions are sent in a few minutes or up to 2 hours on average, regardless of how much bitcoin money you send.
Yes, many bitcoin casinos offer free bitcoins to players or affiliates so they can use them in different activities such as: registering at the casino, attracting new players, playing new games and many others. These offers are almost always promotional and are made under certain terms of use. There are some casinos that also offer bonus games and number of bets.
It is not necessary to have a credit card or a bank account to play in a bitcoin casino. You can bet using bitcoin transactions, which not only are easy to send and receive, but are also free. Credit card and bank account payments are generally associated with process charges and fees, but bitcoin transactions do not have these sorts of commissions (except for a bitcoin transaction of 0.0001, which at the moment costs less than 2 cents), so it's just like paying with a physical currency in the store.
Not all bitcoin casinos are regulated but some of the ones that have a great reputation are regulated and licensed. As in other industries, bitcoin casinos require a license in accordance with the regulatory framework of the country in which they operate. However, there are many bitcoin casinos that simply do not have them. Therefore, it is important for players to make sure that the bitcoin casinos where they decide to play at are regulated and have the appropriate licenses in order. Another important thing to know about bitcoin casino licenses is that these types of casinos may operate from countries where having a license just means paying a fee and having a certificate. This is why it is a good idea to gather information about your specific casino before operating with it.
It depends. If you want to create your own bitcoin wallet on your computer's hard drive you will need to download a program and install it. But if you want to use the web services of a company that already offers a wallet, then you don't need any software. You can access your wallet through compatible browsers. This being said, some bitcoin casinos require the client to download and install their own software in order to play.
Yes. There are many bitcoin gaming sites or apps that work well with modern smartphones such as Android, iPhones and others. You can download these apps from stores like Google Play and Apple Store. Some companies offer their apps on their websites via direct downloads. Note: Always download apps from gaming companies that are provably fair in their transactions and operations.
A deposit bonus is a type of promotional offer that works in terms of a percentage of the amount that the player originally deposited. The guiding principle which regulates this bonus changes depending on the website. Some gaming websites set the limit according to the bet, others establish if you can use them by setting a limit based on the minimum amount of bonus you have received, and others set minimum usage limits on a number of games. Therefore, we recommend that you read the terms and conditions regarding how to use the deposit bonuses before choosing any of the promotional options on a bitcoin casino website.
There is no general answer to this question. It depends on which bitcoin casino you are interested in. There are many bitcoin casinos that are safe and provably fair in their business, but there are also fake and unfair casinos that are not safe. Therefore, you should be careful when choosing a casino and check things like its license and its reputation through customer reviews and feedback websites.
No. There is no minimum deposit amount for bitcoin casinos. The most common unit in casino betting is the milli-bitcoin (mBTC). For example, if you deposit 1 bitcoin, it will become 1000 mBTC. You can play games with those 1000 bitcoin units that you have deposited (you can deposit any amount to play). There are some casinos that set limits on minimum deposit amounts. You can check this sort of conditions on the casino websites.
BTC is the abbreviation for bitcoin currency. The thousandth part of a BTC is called mili bitcoin or mBTC, and the millionth part is called micro bitcoin or uBTC. It is very important to know that mBTC (a thousandth of a bitcoin) is a very popular unit in bitcoin casinos. There are other common bitcoin units that are used in the encrypted currency domain, such as dBTC (which is one tenth of a BTC) and cBTC (which is one hundredth of a bitcoin).
There are many reasons to use a bitcoin casino instead of one that works with traditional payments. The most important ones are the following:
Responsible gambling means being prudent when it comes to playing. You should not lose control at games at any time: you should be calculating and careful about how much money you invest and how much time you spend on these games. Gaming is generally considered as any other sort of entertainment. Therefore, a person who plays should lead a balanced life and make sure that gaming is not clouding their daily lives or complicating their responsibilities. It is important to understand that gaming is a form of spending and not a form of profit. A strict adherence to these guidelines is what we call responsible play.
The general answer is no. Your bets are made with bitcoin and your payments are registered in the bitcoin casinos. Your bitcoin currency is in BlockChain until you deposit it on the platform of your preferred casino. Your money will no longer be in Blockchain after transferring your bitcoin currency to your bitcoin casino. It will return to Blockchain when you withdraw your bitcoins from your casino platform and transfer them to your bitcoin wallet.
Yes, betting with bitcoin is legal in places where betting with local currencies (such dollars or euros) is legal too. Bitcoin betting has not yet been subjected to any independent regulations. Right now, bitcoin is simply another form of legal payment. Perhaps some countries will consider regulating bitcoin gaming in the future, but this is not currently the case.
No. You do not have to give any personal information to receive bitcoin money. You can trade with bitcoin by simply using an email address. It is possible that authorities implement regulations to adapt this currency to the investment domains of the modern world in the future.
Yes. There are many bitcoin casinos that offer their services to Australian citizens. Check out the list above to find an online casino where you can make deposits in bitcoins while being in Australia. It is worth checking your options before deciding which bitcoin casino to choose. If these casinos comply with the Australian rules, then you will be sure about them being suitable for Australian citizens.
