Bitcoin Casino – is there such a thing?
Over the last couple of months we have been asked multiple times about casinos that accept cryptocurrensies. Is there casinos that accept this? Of course, where the money is the companies also are. Over the last couple of years Bitcoins have exploded and have been increasing its value alot. Some people say that bitcoin was the biggest thing to talk about in 2017 and I think the trend will keep on even in 2018. There are now over thousands of different crypto currency’s and they are all trying to achive different things. Some of them are looking for a better solution on how to make faster transactions in the casino market, some of them are going for certain countries. If you are looking for normal casinos make sure to check out our casino reviews.
For those that haven’t heard of crypto currencys already you can read more about it over at wikipedia also just google it and you will find alot of articles about it. There are some pros and some cons of using like bitcoins when playing slots and we will cover that later in this article. The main reason why people was looking into such a currency as bitcoins was the privacy. There is no one controlling the value of it and they can’t create more then a certain amount of bitcoins. This makes the currency more stable since you can’t just create more like they can with U.S Dollar, Euro, Swedish Krona and so on.
Should I play bitcoins casinos?
The question it self is hard to answer but I will give you some advices. Note though that all written in this post is my personal though and is the information I’ve been told. I would not suggest you to use this a fact post, instead see it as information and make your own twist on it. So, bitcoin casinos is something that is growing and have been doing so for a couple of years. The biggest downside is that the transactions is not tracked to a certain person (thats the goal of bitcoin to make it untrackable) so if the casino decide to take your money it could be hard to find who took it and you can’t report it. The fraud aspect of bitcoin casinos is the biggest problem right now. The best tip to prevent being scammed is to always read reviews, look around on internet for people talking about the casino that you are going to play on.
One thing to also mention is the unstable prices in the crypto world. The BTC (bitcoin) to USD price could differ alot over just a couple of days. So if you win 1000 USD worth of BTC and then decide some days after decide to withdraw your bitcoins into USD the exchange rate might have changed 20-30% so you could either gain profit from it but also loose alot. If you experience something like this you should try to hold to your bitcoins until they have reached a better value (it is not a guarantee that the bitcoin will raise but it usually just drops then it gets back even stronger).