Are Bitcoin Casinos Legal?
Cryptocurrency, especially bitcoins, became trendy a few years ago. The variety of digital currencies grows every day. If it was difficult to imagine where people can spend their tokens ten years ago, today, there are a lot of options on how to invest them or what to buy for them. Online gambling flourished last year too. Online casino bitcoin is fresh but very popular. There is only one unanswered question – is crypto gambling legal? But, first of all, it is necessary to generally describe blockchain tech and bitcoins.
What Is Bitcoin and How Does Blockchain Technology Work?
For the first time, blockchain tech was described in the 80-es of the 20th century, but only in 2008, it was realized and popularized by someone known as Satoshi Nakamoto. Blockchain is a digital technology to hold records about transactions (blocks) on different public databases (chains) connected by the peer-to-peer network. To say simple, it is a decentralized structure to protect transfers among users. Blockchains are in use not only for cryptocurrency operations today because they allow protecting every action from any tampering. It means that information in the digital ledger is under high safeguard. Also, this technology provides data transfers very quickly without a third approval party.
Bitcoin is the first and most popular cryptocurrency in the world. It is decentralized and may be submitted only as a digital currency that can be transferred or exchanged by blockchain technology. BTC is created by mining. Totally, 21 million coins can be mined. However, the pace of mined bitcoins decreases every 4 years. It means that the last coin will be mined near the 2140 year.
There are a lot of talks about the future of bitcoins and their impact on the global economy. Hence, the most interesting question is about the legal status of crypto and its use.
The Legality of Cryptocurrency over the Globe
Law always hampers with the regulation of new object reality. It is never clear which events will be longstanding and which not. In the first few years, authorities looked closely at cryptocurrency. Even now, there are many experts who say that the wave of coins will decrease soon, and they will lose most users. However, developed countries and many of their satellites (the USA, EU members, the UK, Japan, Singapore, Australia, and so on) have started regulating bitcoins’ flow the same as finance’s flow. Somewhere, the situation is contentious. For example, in Canada, bitcoins are not prohibited now, and dealers in crypto are regulated as money service businesses. At the same time, companies dealing with virtual currencies must register with the FTRAC (special regulator) and meet all requirements (one of them is to report suspicious transactions). This infringes one of the basic principles of cryptocurrency – the absence of a third party. Also, there are still countries where BTC and other tokens are prohibited, and their use is under restriction. In total, there are more than 70 countries and territories in the world where bitcoin is legal and near 15 countries with the contentious situation.
Online Casinos Accept Crypto: How Does It Work?
In September 2020, it was counted that casinos on the Internet using cryptocurrency gain an additional profit of over USD 150 million! This sum will grow in the next years. So, how does it work?
Online casino bitcoin is a gambling platform that deals mainly with bitcoin cryptocurrency. Such casinos operate with special software to minimize human intervention. It means that software has the role of a dealer in games where real players are needed. In other cases, it is an algorithm of accidental winnings like in other casinos. The main difference between an online gaming house working only with fiat money and a casino receiving crypto is that the latter provides operation based on the peer-to-peer network (blockchain principle).
Advantages of Gambling with BTC
Digital casinos dealing with BTC have many advantages over classic online casinos because of using blockchain tech.
- Anonymity. The nature of cryptocurrency implies only secure activities between two users. All information about who sends and to who is ciphered by the algorithm. For many players, it is very important to stay anonymous.
- Speed of transfers. The absence of the third party in transactions allows making transactions very quick. It may be important in conditions of cryptocurrency fluctuations. Also, the high speed of deposit acceptance allows starting playing faster as well as receiving withdrawals quickly.
- Decentralized structure. In classic casinos, all money is in the hand of the casino’s owner. Bitcoin gambling platforms do not have a single center of money transfer. It helps to protect users and their stakes.
- No additional fees. Most of the online casinos dealing with crypto do not demand transaction fees or other supplementary payments.
- Accessibility. The digital nature of this business allows playing games for many people at one time and guarantees the approachability of games over the world.
Are Online Bitcoin Casinos Legal?
Not all countries where cryptocurrency is legal demonstrate similar loyalty to online gambling with bitcoins. There are three kinds of countries:
1. Where any online gambling is prohibited.
2. Where cryptocurrencies are prohibited.
3. Where crypto gambling is permitted.
In Estonia, Germany, Finland, and Denmark, Internet gambling with crypto is allowed with a special license given by the local regulator to both local providers and foreign ones. Hong-Kong, Gibraltar, and the United Kingdom (including the Isle of Man) have the same position.
In Switzerland, Norway, and Sweden, local gambling platforms need to receive a license, and foreign ones can act without it.
In the USA, casinos accepting bitcoins are totally illegal. Many known gambling providers are incorporated outside this country. The same situation is in Malta, even though Malta Gaming Authority gives licenses to most online casinos.
Playing casinos in the countries where it is prohibited is the liability of a player. All amenable gambling platforms always note the list of restricted countries in their Terms and Conditions.
To sum up, it is necessary to say that the situation with bitcoins and online bitcoin casinos’ legitimacy is changeable. Players may play from any place, but possible consequences are their responsibility.
Edgegap partners with Zebedee to bring Bitcoin transactions to multiplayer games
Edgegap in partnership with ZEBEDEE, the next generation payments-processor, announced that Edgegap’s server orchestration platform tailored for multiplayer games is now accessible to game developers utilizing ZEBEDEE’s payments platform. This latest partnership will join the vision of the two companies toward a unified and global marketplace accessible to all game makers and players.
ZEBEDEE’s fully programmable payments platform allows developers to send, receive and pay with Bitcoin in and outside their game, with transactions as small as $0.0002. The technology enables innovative payment-based mechanics, such as real-time micro-transactions based on actions the player takes in the game, with no fees and instant settlement. The nature of these transactions requires seamless connectivity with minimal latency and lag, making Edgegap’s flexible server orchestration a powerful proposition for developers and gamers alike.
Edgegap’s ever-expanding distributed cloud network with 450+ locations worldwide can handle any traffic volume through automation and rapid-scaling orchestration. Its proximity hosting technology deploys game instances in the optimal location to deliver near-zero latency regardless of players’ platform, location or internet access type. It is supported by the ultimate peace of mind – an industry best 99.9% availability.
“We’re thrilled to collaborate with ZEBEDEE to continue our mission to democratize access to distributed server orchestration. We hope this partnership will empower developers to confidently deploy their games worldwide with near-zero latency for a flawless multiplayer experience,” said Mathieu Duperre, CEO of Edgegap.
“ZEBEDEE is proud to add Edgegap as part of its ecosystem of tools and products to give our developer partners on-demand access to premium multiplayer server infrastructure that can natively incorporate our own payments capabilities,” says Ben Cousens, Chief Strategy Officer at ZEBEDEE.
This marks the beginning of an ambitious partnership for the two companies, who detected a natural fit in their offerings and are committed to building innovative solutions targeting both game makers and gamers. As gaming continues to become more social and interaction-driven, flexible and instant global server infrastructure and flexible and global payments technology should come hand in hand. The new partnership between Edgegap and ZEBEDEE places both companies at the forefront of this innovation.
Most Secure Bitcoin Casinos To Play In 2023
Online gambling is a popular activity among many internet users. With the advancement of technology, we are able to explore a new spin on traditional games. Blockchain casinos specialize in all the best gambling games while using blockchain technology to secure user privacy. As a result, many gamers find gambling with cryptocurrencies such as Bitcoin to be a great option.
Choosing a secure blockchain casino to play with is essential to make sure that you are able to enjoy gaming. Just like traditional gambling, you still need to ensure that you are on a safe and trusted website. In this article, we will give you a detailed guide of the most secure Bitcoin casinos to play in 2023.
Advantages of Using a Blockchain Casino
What are the advantages of a blockchain casino?
- Confidentiality: All transactions on blockchain casinos are handled in bitcoin or other cryptocurrencies, which don’t require you to reveal your identity. This makes users feel safe.
- Fast transactions: Bitcoin has a fast processing time and low transfer fees so you are able to receive your earnings at a faster and cheaper rate than if you had used fiat money.
- Higher bonuses: By playing on a blockchain casino, you can gain much bigger rewards and bonuses than those offered by traditional gambling sites.
Are Blockchain Casinos Safe?
Yes, blockchain casinos are safe. Data theft and hacker attacks are a common threat to online gambling sites. However, blockchain technology helps to protect data privacy and is designed to be more resistant to hackers.
What Are the Risks of a Blockchain Casino?
The risks associated with blockchain casinos are data miners and cyber theft. By using a VPN (Virtual Private Network) and gambling platforms that have a valid SSL certificate you are able to mitigate these risks.
You are most prone to the threats of bad actors when you are using unverified websites and clicking unknown links. Always verify a website before you use it. CasinosBlockchain is a reputable site for discovering the most secure blockchain casinos out there.
The internet can be overwhelming with information, making it hard to identify which blockchain casinos are secure and which are fraudulent–that is why we have created this guide for you.
Let’s take a look at trusted Bitcoin casinos.
Most Secure Bitcoin Casinos to Play in 2023
1. BC.Game casino
BC.Game casino has built trust with users over the course of 5 years. Since 2017, the community-based crypto casino has grown to host over 8000 games–such as Dice, Saviour Sword and Blackjack. They are committed to fair gaming and offering players rewards of up to $220,000 in welcome bonuses. They are licensed by Curaçao, with a well-built website to give you the best playing experience.
The goal of BC.Game is to eliminate all unfair factors that players may face so that they are able to have fun. This blockchain casino also places emphasis on making transactions transparent, therefore, they cannot be manipulated.
2. Stake casino
Stake casino has an official Curaçao eGaming License, which is the standard amongst cryptocurrency gambling platforms. Although they do not offer welcome bonuses, they offer over 1000 slots and casino games including Dice, Keno and Limbo.
What stands out about Stake casino is that they have a blog and forum with discussions on all the latest news. Because of this, you can be sure that you will always find necessary updates regarding the platform which is important in the case of a security breach. They offer 2FA for account protection.
Cloudbet is different compared to other crypto gambling sites because it focuses on sports betting for games such as NFL, World Cup, NBA and NHL. For players who also enjoy casino games, their catalogue has a variety of games to play using Bitcoin. On Cloudbet, you are guaranteed name-brand games with quality graphics as opposed to knock-off games. They offer welcome bonuses of up to 5 Bitcoin.
As a pioneer in the blockchain casino space, Cloudbet is very experienced. Their long history means that they are safer. You can contact their support by live support and email. Their website mentions that they “limit access to your personal data to those employees, agents, contractors and other third parties” which shows that they take security seriously.
Bitcasino is an online casino and sportsbook platform. Founded in 2014, it is the oldest blockchain casino on this list. The catalogue consists of slots and casino favourites such as Poker and Baccarat, and even exclusive games like their Bitcasino Billion game. Bitcasino offers a welcome bonus of up to $50,000.
With more experience in the industry, Bitcasino has been able to develop their security practices more than others. Their website has outstanding informational support. Their website has a detailed FAQ that answers questions about their security and data privacy practices. They have a good reputation in the market.
There is an option to withdraw in either cryptocurrency or fiat money. You may be required to complete a KYC when withdrawing a large amount of funds.
Metaspins is a newer blockchain casino in the market. It has a large catalogue of slots and casino games and offers incentives for players for their participation, including random drops of up to $100,000. It is licensed by Curaçao.
One of the things that stands out about Metaspins is their 24/7 support with multiple options, including email, live chat and group chat support with instant response. The platform has also applied a 2FA security measure to prevent cyber attackers from hacking user accounts.
Bitcoin gambling is a new and exciting way to game on the internet. It is becoming the preferred option for many who value their data privacy and want complete confidentiality when gaming. Playing on blockchain casinos is also a great way to earn different cryptocurrencies and learn more about blockchain.
Before you choose a blockchain casino, make sure that you do your own research to check a platform’s credibility. When contacting support, always contact support directly on the site or via an email address from the site.
How to Choose a Safe Bitcoin Casino – The Complete Guide
The scope of online gambling keeps changing, creating a convenient atmosphere for punters to enjoy and explore the act. For example, we have moved from playing casino games in currencies like USD, EUR, etc., to funding gaming accounts using crypto coins like Bitcoin, Ethereum, Dogecoin, etc. What’s more, several local restrictions can be bypassed, helping more people get into gambling from across the globe.
Today, there are more casinos adopting cryptocurrency payments. Bitcoin casinos create an interesting form of enjoying gambling. They host the largest game collection, safe and quick payment gateways, generous bonus offers, and much more. These perks easily put them ahead of their counterpart fiat casino operators.
The choice of a bitcoin gambling site is essential. It could be the polarity between creating an incredible gambling experience and an unpleasant one. Crypto casinos like those listed on cryptocasinos.net are in a league of their own. With so much charade on the internet, searching through the numerous options could be staggering. Here is why this review was put together, guiding you through various criteria to selecting the best cryptocurrency casino.
Security and Licensing
The first consideration when picking a bitcoin gambling site is its license. This is always the first phase operators go through before they are permitted to operate. The license is usually located at the bottom of the website. Additionally, for safety, gambling sites set up several firewalls, encryption technology software, and data protection services to curb the rate of third-party invasion.
While considering a btc casino, check out how much such a site has invested in its security; that’s the guarantee that your details would be protected. Please take note of the license it possesses. An issued license is valid proof that the preferred bitcoin gambling site is legitimate and can issue a pay out to its users. A license from a reputable authority is reassuring and would boost your confidence while gambling. It would be best not to patronize sites with no license or whose licenses are from unknown sources.
Cryptocurrency runs on a secure blockchain. However, without proper security, your data could be jeopardized. A reputable licensing body is the United Kingdom Gambling Commission. Other renowned authorities include Malta Gaming Authority, Curacao Gaming Authority, etc.
Variety of Payment Gateways
Being able to initiate payment easily, securely, and quickly is a necessary criterion when picking a btc casino. Bitcoin casinos provide a wide variety of payment methods to ease monetary transactions. Best cryptocurrency casinos are known to have a mix of both fiat currencies and crypto coins channels. Furthermore, gamblers can purchase cryptos via fiat payment methods on the site.
It is easy to come across bitcoin casino sites because it is a widely spread cryptocurrency coin. But it would be best to look for sites with other crypto options like Ethereum, dogecoin, BNB, XRP, etc. What’s more, payment channels have variable transaction timelines. To ensure you have a speedy transaction, check out the terms and conditions on the bitcoin gambling site. For example, a bank transfer would take several days to complete.
Bonuses, Rewards and Promotions
Now and then, a new gambling operator springs up. They offer juicy promotions to lure players their way to gain momentum and a spotlight. Gamblers love freebies and would easily be swayed towards a lucrative offer. Bonuses and promotions are still necessary for picking a bitcoin gambling site. And bitcoin casinos are known for being generous with their offers compared to their traditional counterparts.
Best bitcoin casino sites offer punters terrific casino bonuses such as welcome bonuses, free spins, deposit match bonuses, reload bonuses, VIP/loyalty points, etc. These lucrative promotions would help boost your bankroll and help you hit the ground running as a newbie. For regular players, it encourages you to explore more casino game titles.
Catalogue of Game Titles
The game category can’t be left out of your consideration for a btc casino. Although promotions can be captivating, you must go through the game collection before hitting the sign-up button. The totality of your gambling experience is linked to the quality and quantity of the games you would come across. It certainly makes the difference between an exciting adventure and an unpleasant run.
Slots, table games, poker, live dealer, and video poker are various categories of games to look out for. Usually, crypto casinos team up with best-rated studios to keep the titles forthcoming. While considering your options from the best bitcoin casino sites, do well to select a reputable provider with a proven track record in certification, return to players, etc.
Customer Support Team and Responsible Gaming
Players are no longer amazed or overwhelmed by promotions that operators heavily invest in. Essentially, the aspect of feedback from the operator is not overlooked because it could make or break their gambling experience. Therefore, it is impossible to ignore customer support services in selecting the best cryptocurrency casino.
Bitcoin casino customer support has a long list of benefits. Beyond being a go-to option for players when they encounter a dead end, they also help players curb gambling addiction. The support team consists of well-trained personnel that can help you with a classic experience. Communication channels include email, live chats, phone, and a well-detailed FAQs section.
Gamblers love to stay anonymous on the internet, hence the consideration of a btc casino. Bitcoin casinos provide a safe space for punters who would not want their online gambling activity known to the public. Cryptocurrency is not 100% anonymous because wallets are pseudonymous. However, it cannot be traced to a particular individual.
To keep your digital footprints safe, crypto gambling sites would skip the KYC (Know Your Customer) phase. They could also allow you to log in using a VPN service. All these features keep the user safe, anonymous, and free to enjoy an incredible gambling adventure.
Here’s The Verdict
Playing on bitcoin casinos is soothing. However, selecting the best cryptocurrency casino could be overwhelming if you are new to gambling. This review puts together basic criteria that would help you find your way to the best options. The top points highlighted include licensing, security, payment gateways, customer support, etc.
While you are on your way to creating a beautiful gambling experience, it is necessary to take precautionary steps to ensure you gamble responsibly. Also, it is important to research the bitcoin gambling provider you are interested in becoming part of. Best of luck!
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