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If you are new to gambling with crypto coins we have a guide below to explain all basics you need to get started with crypto gambling and its advantages!
Blockchain technology is already altering the world as we know it. The radical forms of innovations it might bring about are almost impossible to predict, but it certainly stirred a small revolution in the online gambling industry with an ingenious concept — Provably Fair Gambling.
In short, the provably fair protocol is a mathematical way to prove the fairness of the casino in the gaming process.
If casino is deploying provably fair methods, gambler can be sure that the casino — or rather the software it deploys — cannot change the outcome of a roll or a card draw; it ensures the results are truly randomly generated and whatever is rolled, drawn, or dealt cannot be switched behind the scenes with a result less favourable for the player.
Different crypto gambling sites devise various ways to integrate provably fair functionality in their games, but in a nutshell, the steps to verify truthfully random results are as follows: Disruptive technology at its finest if you ask me.
It is also applicable to practically all online casinos, fiat or crypto. Keep in mind that this solution ensures the randomness of the outcome and that the hand has not tampered.
It has absolutely no influence over the odds of the outcome, nor does it guarantee that the casino will pay you what is due. For this, you should rely on research, mostly using bitcoin casino reviews like ours and Bitcoin casino Reddit discussions to gauge the general reputation of the establishment.
It is hard to determine which perk is the most important one, as ideally, they are all must-haves for every online casino. Unlike traditional payment methods, Bitcoin transactions are fast and easy.
All you need is a good bitcoin wallet to get started! Bitcoin casino deposits are not faster than the-practically-instant credit card payments, but withdrawals are processed significantly faster with Bitcoin.
Credit card withdrawals often take business days, Bitcoin transactions, even with a busy network, rarely need more than hours to complete.
Depending on the crypto exchange and bank, this last transfer involves some withdrawal fee usually negligible and might take a day or two. You have probably heard that Bitcoin is exceptionally secure with its PoW based distributed consensus protocol.
Security is an essential part that blockchain brings to the table, but it also makes it practically impossible to reverse transactions.
If you deposit BTC into your casino account more than you initially intended, you would have to either withdraw it the standard way with casinos approval or play with the amount.
You will not get reverse-charged as the very architecture of the blockchain technology powering Bitcoin, and other cryptocurrencies make it, for all practical reasons, impossible to tamper with transactions and records.
It is a double-edged sword because using Bitcoin requires some basic technical aptitude and curiosity. You must learn at least a couple of new tricks like using a cryptocurrency exchange and managing a crypto wallet.
Not a huge deal, but it is not as simple as producing your credit card out of your pocket or entering your PayPal email address.
The infamous Bitcoin anonymity is not something that is realistically achievable by the majority of users. While some casinos require very few forms of ID verification, almost all popular Bitcoin exchanges ask for some proof of identity to allow trade at their platforms.
Further down you can see a more in-depth analysis of the legalities surrounding Bitcoin online gambling, but suffice to say that it is mostly unregulated and that there are no laws explicitly banning the use of this crypto asset for gambling purposes.
There are many countries, with the USA being the significant name here, that have outlawed online gambling. In the US the situation with gambling online is particularly complicated because of the two layers of legislation involved: To be more specific, federal laws prohibit the transaction of money online for gambling needs.
Luckily, for all matters practical and legislative, Bitcoin and other cryptocurrencies enter more profound in the realm of assets.
They are considered as means for value storage and not means for value exchange in the eyes of legislators. Always consider the following factors when choosing a bitcoin gambling site: There are times when bitcoin online casinos make it difficult to check whether they are provably fair.
True provably fair casinos will often enjoy letting everyone know about the system. Regardless of the payment method used, you should always make sure you are gambling at a legal establishment.
Some casinos have convoluted terms of service and bonus regulations, especially when it comes to bitcoin casino free spins and no deposit promotions.
Make sure to check them out, or you are risking on missing some hefty rewards. Use it as a diversion and a nice adrenaline boost, but do not succumb to the whims of Lady Luck, as she is a fickle friend and a cruel mistress.
If you already own Bitcoin, you might as well skip this section. For those of you who have never worked with crypto assets before, obtaining and transferring cryptocurrencies might sound a bit daunting but it not that complicated when you break it down.
If you do not yet have a bitcoin wallet, create one! To deposit bitcoin, you can use one of the many exchanges available on the internet, or any other source of the coins.
But, if you want to use bitcoin, the first thing you have to do is to download bitcoin wallet to your computer and that is where your entire bitcoin will be stored and secured safety.
There is even opportunity for you to register bitcoin wallet online but make sure you choose reliable platform like Blockchain.
Another thing you will need to do is to buy some bitcoin in order to finance your wallet. The process is not only secured but straight to the point.
You can do that through any of the online based bitcoin exchanges and bitstamp. It is secured, fast and also offer low fee to all users. After purchasing the bitcoin from your preferred exchanges, you will need to transfer the amount to your already created bitcoin address right inside your bitcoin wallet.
It is not advisable for you to leave huge amount of bitcoin in the care of an exchange, so make sure you transfer the bitcoin into your own wallet.
This is for both safety and practical reasons. There are different methods through which you can purchase bitcoin. Also, there are many currencies you can use to buy bitcoin from different exchanges.
After buying bitcoins you will be allowed to use them anywhere you want and enjoy anonymity and safety. Another thing is that you can exchange your bitcoin into fiat currency through any of your selected bitcoin exchanges online.
One thing you should note is that you will not play with bitcoin currency when you are playing in any poker site that accepts bitcoin as mean of payment.
Rather the poker site will convert your bitcoin currency into the base currency of the poker site. For this reason, most bitcoin accepting poker sites normally present players with different poker base currencies at the time of registering account with them which you can to play the poker game as well as the tournaments.
You will find the exchange rate of the bitcoin to the base currency of the poker site boldly displayed on the poker site. That will make you to see clearly everything and know when you are getting good deal.
How to choose the bitcoin casino? When you want to play mobile and online bitcoin casino , the process you will need to follow will be same with the one in the poker site.
That means the bitcoin casino site will convert your bitcoin into their base currency and the exchange rate will be boldly displayed in the bank interface on the site.
At ArgoCasino you can choose from as many games as you can image. The casino provides video slots , progressive slots , live casino games , table games , various specialty games , from scratch cards to darts.
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