Despite the price plunges the blockchain sphere experienced in 2022, displayed market volatility did not dismay many from believing in cryptos as a concept. Millions have proven that even in the face of concern of uncoordinated regulatory actions facilitating destabilized capital flows, the blockchain landscape is still receiving billions in investments, as crypto assets are undoubtedly profoundly changing the way monetary systems function. Various European sources now report that Russia may – “en masse” head towards crypto adoption, with digital versions of the ruble and Chinese yuan popping up. Also, Ethereum transactions jumped 338% in 2022, and the New York Digital Investment Group estimated that around 46 Americans owned cryptos in early 2022.
It should get noted that interactive gaming was one of the first sectors to notice the potential of investing in crypto gambling, launching its first Bitcoin casinos as early as 2011. Moreover, it stuck through with virtual payments by regulating crypto casino sites in 2014 and expanding the offer of legit Bitcoin gambling platforms up to several hundred by the end of 2020. Today, the supply of BTC casino hubs is immense, and what follows is a quick guide on how newcomers to betting on games of chance using digital coins can pick Bitcoin casino sites that best suit their needs.
Check the Regulation Status & Security Measures
Few people know the insides and outs of crypto casino regulation. The first sets of Bitcoin casinos get licensed by Curacao’s Antillephone in the mid-2010s. Since then, the other four Curacao master license holders have gotten their palms in overseeing what many consider the best cryptocurrency casino sites. And recently, the MGA has also joined this pact. The Kahnawake Gaming Commission, the Isle of Man Gambling Supervision Commission, Panama’s Gaming Control Board, and the UKGC are a few other bodies that also permit their licensees to accept coin-based wagers. A gaming license is not a guarantee that an operator will act decently, but it provides reassurance that a gaming website answers to someone.
Furthermore, if a casino has a regulator badge in its footer, that means it follows industry safety standards. So, it implements SSL encryption and modern firewalls and follows the latest data protection laws. That information should be available on the terms and conditions page of every platform advertising itself as belonging among the best Bitcoin casino sites. Players should check this info before registering with a given hub.
Look For Multiple Payment Methods on Hand
Every crypto casino worth anything will offer at least four coins for deposits and withdrawals, two of which will be Bitcoin and Ethereum. Nevertheless, higher-end sites also choose to include fiat transaction options, such as e-wallets, bank transfers, and credit/debit cards, in their account funding arsenals. The fastest of these concerning processing times are digital pocketbooks, which can facilitate transactions in one to two working days from gambling sites. Credit/debit card picks do the same in up to five banking days, and wire transfers can take up to seven.
Conversely, cryptos usually facilitate payment processing in less than an hour. Bitcoin conducts transfers from wallet to wallet in around forty minutes, and Ripple makes this happen in less than a second.
Browse the Promotional Offer
Look for multiple diverse ones. Like fiat online casinos, Bitcoin ones should also have a sizeable deposit match upon sign-up. Some platforms opt not to include such a deal for new users, and that is fine if they balance its omission with deposit bonuses for existing users (reloads) and a generous loyalty scheme. The latter is often a point-accumulation program with multiple tiers, where gamblers advance up each one through their wagering activity. The higher they go, the better perks they attain.
Mystery chests, chat rain, Rakeback, and free faucets usually get mentioned as promotions specific to Bitcoin casinos, only found at these sites. And the same can get said for staking opportunities, which are nothing more than investment schemes, allowing gamblers to lock their funds in exchange for getting a share of a casino’s daily/weekly profits.
The More Games – The Marrier
It is now customary for crypto operators licensed in Curacao to have game catalogs comprised of five to six thousand titles. Such gaming portfolios hold thousands of reel spinners, hundreds of live and RNG-powered table games, software-fueled lottery-style options, virtual video poker machines, and products reminiscent of old-school arcade devices. These get complimented with a bit of vintage BTC casino entertainment in the form of provably fair games like dice, crash, mines, limbo, and Plinko.
It is paramount that a Bitcoin casino not only supplies a varied selection of gambling products but also works with independent testing agencies that verify their fairness. And that it transparently posts vital game specs, especially volatility and RTP.
Premium Customer Support & Responsible Gambling Features
Premium customer support refers to a Bitcoin casino having someone on staff 24/7, 365 days out of the year, to answer user complaints and look for player problem resolution. They should do this through a live chat window or email. Having a detailed FAQ section that can lead to gamblers figuring out how to solve their issue on their own is also mandatory.
Concerning responsible gambling features, these measures relate to crypto gambling sites allowing users to set loss/session/deposit limits, activate a cool-off period, and self-exclude. The latter is a self-imposed ban that stops them from accessing the site in a specified timeframe. These features are essential for those with impulse control disorders.
Inquire About Potential Gaming Anonymity
Gamblers can do this by reading a site’s terms or asking its customer support about the Know Your Customer requirements it implements. Anti-money laundering procedures often obligate players to hand over some personal information they otherwise would choose not to part with if they did not have to do so. That data unravels their identity and throws the potential to gamble in secret out the window. Nonetheless, some platforms only ask that users go through these steps if they request a withdrawal above a significant amount. If they opt to remove sums below it, they can gamble in secret.
Unlicensed provably fair sites also deliver this option, as they do not care from which corner of the globe their players hail. But, if one selects to go down the provably fair platform route, they should only pick reputable brands that have been in business for several years and have created a terrific reputation for themselves with online crypto gamblers.
The Wrap Up
The ideal crypto casino will have a mountain of games, a wealth of diverse promos, top-end security, 24/7 customer service, multiple payment options, and advanced responsible gambling features. Remember, when engaging in betting entertainment, no one should wager more than what they can afford to lose, always staying within pre-set budgets. Also, researching an operator in detail regarding their industry history before completing their account creation process is a must.