Bitcoin saw a major surge in 2017 because of many active users that were using this currency. Some of the users of this cryptocurrency were online gamblers playing on sites known as Bitcoin casinos.
History of Bitcoin
Bitcoins were initially developed in 2008 by an anonymous group of people who went by the name Satoshi Nakamoto. The group was generous enough to let go of their proprietary information to the public by making the source code of this cryptocurrency open-source software.
The very first transaction was then conducted in 2009 and ever since the “genesis block,” there are millions of users who joined the trade. In 2017, the cryptocurrency reached its peak when it valued almost $20,000. Ever since then, this crypto has fluctuated, manifesting great volatility but it is still the currency of choice for many people, Including gamblers.
How do Bitcoin casinos work?
The most common question amongst people interested in using Bitcoins is about its management structure. How is this cryptocurrency regulated? There is no central organization or bank that regulates the use of Bitcoin. It works on a peer-to-peer basis where users transfer it to one another, creating a positive circulation.
Some large companies accept Bitcoins as a payment method, growing its recognition amongst a lot of people. Every Bitcoin transaction is recorded on the distributed ledger colloquially known as a blockchain. Every transaction is left to this technology to be fulfilled and there are no intermediaries, making payments and withdrawals anonymous.
Why are Bitcoin casinos so popular?
Bitcoin casinos are rapidly increasing in popularity amongst online gamblers using relevant gambling platforms. These are for real money casino and the money can be withdrawn to your cryptocurrency wallet and after that to the bank account, you use.
Why are these gambling growing in popularity? The first and foremost reason is that Bitcoin casinos offer a heightened level of anonymity. Also, these casinos are usually not subject to any regulatory authorities because they do not use regular traditional currencies that could be barred from other gambling sites.
List of Bitcoin casinos
There is a lot of play for real money casino that accepts this cryptocurrency but since some are not licensed, it can be easy to get scammed. The trick to avoiding getting scammed is determining the sites following and the reviews of former customers. Those are just a few of the factors you should look into before depositing your BTC.
For beginner gamblers and even experienced ones, it can be hard trying to determine the credibility of the gambling site. To help you get started, here is a list of the best crypto casinos that are reputable and have been in business for quite a while:
Bitsarz is a multi-award-winning Bitcoin casino with a very good reputation because of its diligence in withdrawals and fair gameplay. The gambling site has a variety of games that gamblers can enjoy with include table gameplay of cards. That entails games like poker, baccarat, and other well-known wagering activities.
Cloudbet is an online gambling site that offers players great odds of winning because of the diversification of their games. For example, this gambling site, in particular, has thousands of casino games as well as sports betting. Another unique feature of this site is that you can also place wagers on eSports using Bitcoins.
The mBit Casino is a premium casino with a variety of games found in traditional casinos. Some of the most popular games found on this site include Auto Roulette, similar to Russian Roulette, Blackjack, and Bacarrat. You can also play slots on this site and other games from their more than 2000 library of different wagering activities.
7BitCasino is an online gambling website that has a variety of games, especially slots that give players a fair shot. You can either opt for high-risk gambles or low-risk games depending on your risk appetite. There also table games similar to the ones found at a traditional regular casino.