Cryptocurrency is a word that is leading all the major headlines in financial circles. Its increasing popularity has investors wrapped up in the world of virtual currencies, where many have made a small fortune in a short time.
However, cryptocurrencies like Bitcoin are not restricted to the investment world, but instead are finding increasing usability and value in the marketplace.
One of the hottest gambling trends over the past few years has been Bitcoin Casinos, which have provided many virtual currency holders with a place to use their money for some first-class online gambling entertainment.
What is Bitcoin?
Understanding the nature of cryptocurrency will give you key insights into what Bitcoin truly is. It is an innovative digital currency consisting of codes and hashes. This virtual money is mined from special algorithms on the internet by sophisticated mining rigs. These specialised computer rigs are designed to run at high speeds and are constantly searching the web for these rare algorithms.
When the correct hash is found, it is added to a ledger called a blockchain, and it is validated as currency. This currency has real value in the marketplace. In fact, 1 Bitcoin is worth as much as several thousand Euros (price fluctuates).
The unique blockchain ledger is decentralised, meaning that transactions are processed without a trusted middleman or central server (like a bank) controlling the process. They are peer-to-peer based, which means you have direct power over each of your transactions. Because it is digital in nature, it is perfectly suited to making online purchases on the web.
Bitcoin was the first true cryptocurrency. It was developed in 2018 and released to the market as early as 2009. Bitcoin reached a valuation high in 2017 when only 1 BTC was valued at just under US$20,000. Positive market trends at the end of 2020 also saw the currency soar into the stratosphere, hovering at a similar staggering value.
What are Bitcoin Casinos?
Bitcoin Casinos are casino sites engineered to work in harmony with the blockchain. The casino owners have found an innovative way to harness the advantages of Bitcoin and other cryptocurrencies for online entertainment.
When you open a Bitcoin Casino account, you receive your very own unique blockchain address. Processing a payout of your winnings is as easy as transferring money from one of your wallets to another one. So even at the casino, you have power over your transactions.
There are two dominant types of Bitcoin Casinos that you can play at:
- Bitcoin-Only Casinos: Here, the operator accepts Bitcoin or other cryptocurrencies as a form of trade for casino gaming.
- Hybrid Casino: The operator will accept gameplay in both crypto and ordinary fiat currencies.
Hybrid casino providers will often exchange your currency for you conveniently on their site to make your transition from one gaming type to the next effortless.
What are the advantages of playing at Bitcoin casinos?
There are some real perks to playing casino games in Bitcoin:
- Speedy Transactions: Transfers on the blockchain process and verify within minutes for quick and easy transactions to and from the casino. There is no need for pesky KYC verification on decentralised sites, which means that the payout process is almost instant.
- Convenient Control: As previously stated, payments in Bitcoin are Peer-to-Peer based. Skipping out on the middleman ensures that you remain in control of each of your transactions.
- Anonymity: Bitcoin Casinos are popular because they protect your identity and keep your gaming sessions private. So long as you have your general key and private key on you, you can release and verify payments without having to reveal any other details.
- Secure Payments: Verifying that funds have been transferred is an effortless affair. Anyone has access to the blockchain and can verify that the transaction was made. Once the funds have been verified, the transaction is guaranteed.
- Fee Free: No middleman means no additional fees and costs. Bitcoin is borderless, so you even save on forex costs.
While Bitcoin can take some getting used to, it certainly does provide you with clear benefits. In many areas of the world, myriads of players are turning to Bitcoin for legal gaming opportunities.
Am I safe playing at Bitcoin Casinos?
Safety is always of utmost concern when playing at online casinos. There are a few ways to make sure that you can play at safe and fair Bitcoin operators.
- Casino Licensing: All the best sites are suitably licensed. Licensors, like the Government of Curacao, make sure that all gaming software works properly and that the registered business conducts its affairs ethically.
- Genuine Software: Always play at a casino that supports licensed software from the best game providers on the market.
- Certification: The top casinos use independent auditors to test the game RNGs for fairness. The best certification in the marketplace comes from companies like eCogra, TST, iTech Labs, or GLI.
- Security: Play at sites that are protected by Secure Socket Layer encryption. This will ensure that your privacy is maintained. Seek out the ‘S’ in HTTPS at the prefix of the site’s URL as a sign of security.
At Livecasinos.ie, we have selected a list of the best reputable Bitcoin Casinos for Irish gamers. Be assured that we have completed the vetting process, so you can trust the sites we recommend.
What casino games are available at Bitcoin Casinos?
There is a diverse selection of casino games available for those looking to play in Bitcoin currency. You can play titles from some of the most notable and respected game makers in the industry, including Betsoft, Pragmatic Play, Booming Games, Quickspin, Evolution Gaming, Ezugi, Play’n Go, and NetEnt.
The selection of games covers all the most popular game types available in standard casinos, including:
- Online Slots: This will include video slots, classic slots, and an assortment of jackpot slots.
- Table Games: Enjoy a full selection of games like blackjack, baccarat, poker, craps, and roulette.
- Live Casino Games: Live Dealer games can be played in Bitcoin. Evolution Gaming and Ezugi will keep you entertained with live roulette, blackjack, and baccarat, or an assortment of gameshow titles.
- Other Casino Games: This includes exciting offerings like Keno, Scratch Cards, Bingo, and more.
Some Bitcoin casinos even offer a special type of gaming that is unique to crypto circles, called “Provably Fair Games”. In this game genre, BGaming is a notable leader.
Here, players can conveniently verify the fairness of each game round. The provider gives the player free access to the open-source code of the game’s RNG where they can then verify that each game result is perfectly fair by observing the algorithm of the software.
Can I play at Bitcoin Casinos on my mobile phone?
Bitcoin Casinos is a revolutionary new technology that was birthed alongside mobile gaming. As such, the market leaders in this arena have structured their sites for mobile compatibility to ensure that they gain maximum traffic volume to their casinos.
In most cases, the platform is written in HTML5 coding. This innovative technology has the unique ability to discern the type of device accessing the casino site and adjusts the experience to suit it optimally. This way, you can play all the best games and maintain a high level of quality.
What bonuses can I enjoy at Bitcoin Casinos?
Irish players engaging in Bitcoin Casino entertainment are spoiled for choice when it comes to bonuses and promotions on offer. Bitcoin Welcome Bonuses usually provide the perfect boost to your bankroll and will keep you playing for hours on end.
The bonus types resemble the characteristics of those available at a regular casino, yet these are provided in BTC or other altcoin currencies. The most common forms of promotions on offer on these decentralised sites include:
- Deposit Match Bonuses: The operator will offer to match your deposit by a certain percentage to give you extra credits to enjoy on slots and other casino games.
- Free Spin Bonuses: There are two predominant types of free spin offers that you will find on these casino sites. No Deposit Free spins can be claimed conveniently simply for signing up at the casino, while Deposit free spins will be awarded once you have placed a suitable deposit.
Bonuses provide a sure way to increase your credits and playtime at a casino but they do come with some terms and conditions attached. Answer the following questionnaire before claiming your bonus to make sure that it is a fair offer:
- Is there a minimum deposit required to claim the offer?
- What are the wagering requirements and are they fair?
- What is the max bet allowed in each game round?
- What casino games can be played with the bonus?
- Are the distinct games weighted in the bonus?
If you are playing at a hybrid casino, you can be assured that there will be some exclusive Bitcoin bonuses for you to claim and enjoy.
What payment methods are supported at Bitcoin Casinos?
Bitcoin Casinos require a unique payment solution to make deposits and withdrawals. Crypto wallets are geared to communicate and work seamlessly with the blockchain.
Similar to e-wallets, they transfer funds back and forth conveniently in real-time. Many wallet brands support Irish players and there’s ample information online about how to choose the best one. Most Bitcoin exchanges will afford you the chance of downloading a top-notch software wallet that you can manage from either your mobile phone or desktop computer.
Several cryptocurrencies can be purchased and stored in your Bitcoin wallet. Some of the more popular altcoins accepted in gambling circles include:
- Ether: From the Ethereum Blockchain, this currency is user-friendly and is the second-largest cryptocurrency in the world.
- XRP: Also known as Ripple, this currency has the backing of many international banks.
- Litecoin: Similar to Bitcoin, this currency is more microtransaction-friendly, making it the ideal casino crypto.
- Monero: This currency is very popular in gambling circles. Privacy is of utmost importance to the brand and it offers its customers superior service in this regard.
Bitcoin remains the most popular cryptocurrency at reputable casino sites and has the best exchange value.
Where can I buy Bitcoin?
Buying Bitcoin is made easy if you register on a Bitcoin exchange. Here, you can use your credit card or make a bank transfer to purchase the currency within minutes. Once purchased, you can fund your wallet from your trade account effortlessly.
Use a recognised exchange that supports purchases in Euros. Some of the most popular ones for Irish players include:
Crypto exchanges are the safest bet, but there are other ways to purchase Bitcoin too:
- Peer-to-peer: You can conveniently buy crypto from personal sellers. It is recommended, however, that you do this through a verified peer-to-peer exchange online.
- Hybrid Casino: As stated earlier, many hybrid casinos will facilitate fiat for crypto trades and vice versa.
Watch the market to discern when is the best time to buy Bitcoin. The price does fluctuate a bit, so try to buy it when it is at a low with the hope that the value will increase and boost your investment.
How do I get started at a Bitcoin Casino?
Now that you have bought your crypto, funded your wallet, and are ready to use it, you can sign-up at a casino and make your deposit. Follow these easy steps to get started:
- Register a player account at your favourite Bitcoin Casino. You need only supply an email address, username, and password to complete this task.
- Claim your Welcome Bonuses if you are Interested.
- Deposit your funds from your crypto wallet to your personal casino account address. Simply go into your account and copy your casino Bitcoin account address to your clipboard. Then go into your wallet and select to make a payment. After selecting the amount you wish to transfer, paste the casino address into the ‘Send to’ section, and release the payment.
The funds will reflect in your account speedily. Once your account shows a positive balance, you can set about playing all the exciting casino games up for offer on the site!