Choose Your Best Bitcoin Casino In 2021 – 6 Factors To Consider
A great BTC casino isn’t necessarily the best for you.
You may need certain factors to make your experience enjoyable or even possible.
Consider the following factors to determine what to look for.
1. Restricted Countries
The first and foremost factor when considering a top Bitcoin casino is whether you can even use it.
If you are a US based customer, BetOnline is your best option.
Of course, players from all over the world can experience BetOnline’s wide range of BTC casino games – but US residents will be especially happy to log in.
Other casinos that accept Bitcoin, like Stake.com, are better for UK or EU residents
CryptoManiaks tip: Do not deposit money at a casino that has your country on the Restricted Countries list. There have been cases where some bitcoin casinos accept players but refuse to withdraw if they find out that the player is from a restricted country.
Visit the links to each casino’s terms and conditions that I have provided to check this out.
2. Reputation and trust
Now that you have found the best bitcoin casino site that is legal in your area, you should consider the reputation of the site.
For example, mBit and BitStarz are fully licensed under the laws and regulations of Curacao.
In fact, this is the case with most crypto casinos.
Therefore, customer care is the most important thing.
How to resolve public disputes, how to communicate publicly, etc.
Also take into account how long they have been in use.
Betonline.ag, for example, has been around since 2004. Those are three decades of reputation building that make them one of the best bitcoin casino sites out there.
The other BTC casinos on my list have only been around since 2014 or later.
They are younger but make up for it with strong customer service and great promotions.
3. Demonstrably fair
BitStarz also takes its reputation a step further by instilling trust. As?
They have a proven record of keeping most of their games fair.
They show how they use a cryptographic method that ensures that neither the casino nor the player can know the outcome of the game by the time the game starts.
You can also check after the game that everything was fair.
4. Withdrawal and withdrawal speeds & terms
Once you’ve chosen a Bitcoin casino you trust, make sure it has the payout speeds and terms that you need.
mBit promises to process your withdrawal in 10 minutes or less. This way, if you win big, you can cash out your winnings immediately.
Please note, however, that mBit limits your withdrawal amounts. You can only withdraw:
- 3 BTC (or currency equivalent) within 7 days.
- 10 BTC within 30 days.
So if you’re planning on playing with more, make sure you’re okay with pulling them back slowly.
If you win 10 BTC or more on a one-time big win, mBit will split the payout into ten installments over a 10-month period.
5. Games available
So far, we’ve discussed the practical factors that go into choosing the best BTC casino for you. But let’s not forget the fun factors either!
If you are a purest casino fanatic who wants to focus on the classics then you can’t go wrong with Stake.com because they have:
Dice, Limbo, Hilo, Keno, Mines, Plinko, Blackjack, Roulette, Slot Machines, Crash, Wheel, Diamonds, Baccarat, Video Poker.
If you prefer variety, BitStarz is the way to go as there are over 2,200 games!
6. VIP programs and bonuses
If you are the type of person who enjoys a good time at a cryptocurrency casino then choosing one with a great VIP program and lots of fun promotions is an important factor for you.
BitStarz keeps things fresh and exciting by regularly offering new contests and bonuses for its VIP customers.
They held competitions to win a Tesla Model 3, a trip to Tokyo and the Olympics there.
And every Wednesday they offer free spins to their loyal players.
If you are a newbie to online bitcoin casinos and just want to try the waters, BetOnline has some of the best welcome bonuses:
A 100% casino welcome bonus where you receive your first THREE casino deposits 100% from $ 25 up to $ 1,000.
Our Readers Also Like: The 7 Best Crypto Sports Betting Sites.
Advantages and disadvantages of Bitcoin casinos compared to traditional casinos
We live in a digital age.
An online crypto casino has a lot more to offer than a traditional online casino. But there are a couple of downsides.
Let’s examine all of them.
Benefits of Bitcoin Casinos
The benefits of a Bitcoin casino are all due to innovations in cryptocurrency: financial privacy, low fees, fast withdrawals, and more.
Let’s look at these specific benefits.
Benefit # 1: Financial Privacy.
Some of the best bitcoin casino sites like 1xBit offer full privacy thanks to cryptocurrency payments.
Some online casinos only offer privacy when depositing and withdrawing bitcoin and other cryptocurrencies.
This financial privacy keeps your activities hidden from your banks, credit rating agencies, and let’s face it, your spouse / husband as well.
Financial privacy in a bitcoin casino = financial freedom.
The freedom to do what you want with your hard-earned cash.
Benefit # 2: Low fees
Traditional casinos can charge you with high fees: credit card fees, deposit and withdrawal fees, etc.
Online crypto casinos have a strong advantage here.
Transferring Bitcoin and other cryptocurrencies saves a lot of money and time compared to other options.
In fact, a recent study showed that transfer fees with Bitcoin and Crypto could be up to 90% lower than traditional bank transfer fees.
Advantage # 3: Play from anywhere
The gambling industry is subject to strict regulations.
For each country, casinos are required to acquire licenses, pay fees and taxes, and report suspicious activity to each of them, etc.
If they accept players from a restricted country for which they have not been given a permit to operate a casino, they can face severe penalties.
Traditional casinos will block you based on the origin of your credit card or bank transfer to avoid these penalties.
But a Bitcoin casino offers deposits and withdrawals in cryptocurrencies – which can come from anywhere.
This allows some of them, like 1xBit, to act anonymously and accept players worldwide.
However, depending on your location, you may need to use a VPN to access their website.
Reminder: Some casinos will accept your deposits but withhold withdrawals once they discover that you are from a restricted country. Always read each casino’s terms and conditions before playing.
Benefit # 4: Bigger, Better Bonuses
The best bitcoin casino sites generally offer better, bigger, and more frequent bonuses than traditional online casinos. Why?
Cryptocurrency helps you save money on deposit and withdrawal fees, chargeback fees, and more.
They then pass on some of these savings to you in the form of frequent bonuses and promotions.
Good for everyone.
Cons of online bitcoin casinos
All new technologies have disadvantages. Bitcoin casinos are no different.
There are risks associated with using an online bitcoin casino.
Read them through and decide if the risk is acceptable to you.
Disadvantage # 1: Lack of regulation
Traditional casinos, especially physical casinos, must be licensed and abide by it key/AML Regulations.
That’s because fiat Currency circulates between the parties. The money goes through banks, financial institutions, governments.
For these reasons, it is difficult to run a fiat-based unlicensed casino. The authorities will notice in the end.
The exclusive operation with cryptocurrencies makes it easier for the best BTC casinos to operate without license.
Unlicensed casinos do not report to third parties or governments.
Hence, the risk of them behaving unfairly or performing an exit fraud increases.
To sum it up, stick with any of the licensed casinos that accept bitcoin from my list.
And if you’re playing at an unlicensed bitcoin casino – which I don’t recommend unless you want to play anonymously – check its reputation before depositing any money.
Disadvantage 2: No chargebacks
Traditional casinos can only work by accepting deposits by credit card or other traditional fiat methods.
Hence, they must also deal with chargebacks imposed on them by financial third parties. It’s part of the system.
If you feel like you’ve been scammed, you can always ask your credit card provider to do a chargeback so you can get your money back.
But when you deposit bitcoin or crypto, you cannot request a chargeback as there is no financial intermediary.
One of the advantages of bitcoin and cryptocurrencies is that all transactions are permanent with no third party involved.
However, that means that you need to be more responsible and careful about sending your cryptos as you may not be able to get them back.
Because of this, choosing a licensed BTC casino becomes even more important.
Disadvantage 3: crypto price volatility
Bitcoin has a reputation for being volatile.
If you wagered $ 10,000 worth of BTC and won $ 2,000, it won’t feel like a big win if the price of Bitcoin drops so much that your payout is only worth $ 5,000.
This is a risk that simply cannot be avoided right now.
The good news is that you may also be playing for 3x more than your first deposit was worth.
Playing casino games with Bitcoin is like multiplied gambling or hardcore gambling.
Perhaps in a decade the Bitcoin price will be more stable, but it isn’t right now.
Play with an amount that you can see up, down and sideways in terms of value.
New to bitcoin casinos? How to buy your first bits
Overall, there are many advantages to playing at the best BTC casinos.
Better to get into the action sooner than later.
To get started you will need some bitcoin. Here are the best options to buy bitcoin today. The reason we recommend these exchanges for bitcoin casinos is because, unlike most crypto exchanges out there, they don’t have a policy against using their website for gambling purposes.
Please see this page for more information about your options.
Switching to the best crypto casinos is an easy decision
If you responsibly follow these recommendations, your nights of playing at the best crypto casinos won’t turn into your worst nightmares.
You will be full of entertainment.
These 7 trusted bitcoin casinos have solid customer service and lots of VIP packages and bonuses to keep you entertained.
It’s time to play! Hope you enjoyed my bitcoin casino reviews list.
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