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Are Bitcoin Casinos the Way of the Future?

Written by:
Payton
Published on:
Apr/26/2017

Online casinos have come a really long way in a remarkably short space of time.


A quick online casino primer

The first online casino ever, was launched all the way back in 1996 and was powered by the very first real online casino software company called Microgaming. Microgaming first launched in 1994 and is still one of the biggest names in online casino software today.

It didn’t take long for online casinos to outstrip land-based casinos in popularity, and the reasons for this are quite obvious. The internet has created the ability for anyone, no matter where they are in the world (as long as they have access to the internet) to communicate, share ideas, upload music, photos and all sorts of other things in an instant. Within seconds, anyone anywhere else in the world with an internet connection can connect and share in these same ideas or media and so on.

That’s the internet phenomenon that has singlehandedly changed the world, for better or worse. Most humans love to gamble and almost all humans love to be entertained. It did not take long for a few bright sparks to put their heads together and design a virtual version of a real casino, the results where incredible. Where before only a few lucky people could drive or fly to a casino (Atlantic City, Las Vegas, Monaco, Macau), most of us that either could not afford the travel and accommodation costs, or did not live near enough to a casino for a day trip, had to just imaging how cool it must be.

The internet changed all of that, making it pretty easy to sign up with an online casino and play virtual versions of the most iconic or popular casino games. Admittedly, at first this was not all that great, the technology was in its infancy so forget about anything close to a realistic experience. Today it’s a completely different ball game and you will find hundreds of online casinos that offer incredibly life-like 3D graphics and sounds. You can even play real live casino games on your computer or mobile device, complete with a real human being live dealer, real cards and actual fellow players around the casino table. Today, PayPal remains the top payment method at online casinos as mentioned on casinocanuck.ca/paypal-casinos. According to Alan Jones from Casino Canuck, Bitcoin still cannot compete with the trust that PayPal has built throughout the years with online gamblers - casino, sports, and poker players alike.

So, what are bitcoin casinos exactly?

If you still haven’t tried an online casino for yourself, just to see how incredible some of them really are, you could be missing out on some of the best entertainment available online. Another very attractive feature of most top online casinos is that they offer a wide range of safe and secure payment options. Payment options refers to the two-way relationship that exists between player and casino. The player deposits money into their secure online casino account, and (if they win) the casino pays them out from their online casino account to their regular bank account.

This relationship has existed since the beginning and has not always been the perfect or ideal way to do things. For one, there are several charges involved which can come from the online casino, your personal bank or a combination of both, depending on which payment method you chose in the first place. Another issue has to do with preferred currencies that most online casino use. These usually consist of dollars, euros or pounds. With most online casinos you can use your native currency but the casino will convert it and, depending on the exchange rate, you could lose a considerable amount in value.

So what if someone came up with an entirely new ‘currency’ that has never existed before, does not depend on any existing currency type or exchange rate and exists entirely on the internet?

Well that’s exactly what bitcoin is, an entirely new type of currency that exists only on the internet. You can buy bitcoin online, use it in a variety of ways including financing, buying through online retail and funding your online casino account. Bitcoin is also known as cryptocurrency and you can now find online casinos that offer traditional currencies as well as bitcoin options, or online casinos that are bitcoin exclusive. Investopedia offers some brilliant insight into bitcoin casinos and how they work.

The benefits of bitcoin and how to get them

The concept of cryptocurrencies like bitcoin may sound completely outlandish to you now, but once you’ve seen how they work as well as the inherent benefits of using them, you may never use conventional currency online again. Unlike traditional currencies like dollars or euros, bitcoin is not subject to exchange rates and is not controlled by a government or central bank.

Bitcoin does not require any form of ID for you to get it, so it can be used completely anonymously which means a much higher level of safety and security, sine you do not have to attach any personal credit card or banking information to their purchase.

Buying bitcoin is also a lot easier than you may have initially thought and there are plenty of legitimate and safe websites offering bitcoin exchange for your regular currency. A good tip is to use a bitcoin authority site like weusecoins.com which offers a very handy reference showing you how to purchase bitcoin by region as well as over forty top bitcoin purchase sites.

How to find bitcoin casinos online

Once you’ve found a bitcoin exchange site that works for you, the next step is to find a safe and reliable online casino with an excellent reputation that also offers banking and play in bitcoin. There are more online casinos offering bitcoin as an option than there were even just one year ago, so your chances of finding a good bitcoin casino are excellent.

Whether you are new to the online casino industry or have played at online casinos using regular currency, it is always a good idea to use an online casino review site as a guide. This way you will always be guaranteed of finding reliable and safe online casinos with minimal effort.

Online casinos have come a long way over the past two decades and predictions are that they will continue to eveolve with technology. Getting into online casino gaming has never been safer or more fun that it is right now. Add the unique option to play and bank in bitcoin and online casinos become even more attractive.

 

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