The 3 best Bitcoin casinos in 2023 to play online with crypto
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Over the past few years, the use of cryptocurrencies has spread significantly in the online casino industry.
The online casino industry is rapidly evolving, and one of the biggest changes in recent years has been the introduction of cryptocurrencies, which have changed the way players make transactions, deposits, and withdrawals at Bitcoin casino Australia, bringing benefits to both players and operators.
What Are Cryptocurrencies?
The adoption of cryptocurrencies is steadily increasing worldwide. Cryptocurrencies are digital assets that use cryptography to build a system of peer-to-peer and decentralized monetary transactions, meaning they are not dependent on entities such as central banks or governments.
The technology behind cryptocurrencies is the blockchain, a network, and a public ledger with a verified and unchangeable data set. The blockchain is also used in online casinos to assure the player that the games are fair.
With cryptocurrencies, players have a secure and private way to deposit and withdraw money without having to share their personal information with the casino. In fact, cryptocurrency transactions are anonymous, irreversible, and ideal for those looking for a secure way to transfer money online.
Use of Cryptocurrencies in Online Casinos
In recent years, the use of cryptocurrencies has become significantly popular in the online casino industry. This is due to the increased security and anonymity offered by cryptocurrencies. In fact, the player does not have to share sensitive data such as credit card numbers or bank account details.
Crypto gaming platforms offer players more flexibility and convenience, as well as faster payouts. Online casinos are taking advantage of the growing popularity of cryptocurrencies by allowing players to deposit and withdraw funds in the form of digital currencies.
One of the main advantages of using cryptocurrencies is the speed with which transactions, i.e. deposits and withdrawals, are made. Especially in the case of the latter, traditional payment systems can take several days before the player is credited with the desired amount.
With cryptocurrencies, on the other hand, deposits and withdrawals are instantaneous. And, in addition, there are no debit fees.
What Are the Risks of Cryptocurrencies?
One of the biggest risks associated with cryptocurrencies is volatility, that is, their value can rise or fall by quite a bit even in a very short period of time, and thus the player may find himself in his wallet with an amount that is significantly different from what he had a few days before or even the day before.
Another risk present for those who own cryptocurrencies is being a victim of hacker attacks: cryptocurrencies can be stored in a so-called cold wallet, which is a USB stick-like device that prevents others from accessing it.
If cryptos are stored in online wallets, the risk of attacks is possible. In other cases, we have seen bankruptcies of large companies in the industry with heavy consequences on investors who lost a large part of their assets held at those companies that declared bankruptcy.
Major Cryptocurrencies Accepted
There are tens of thousands of cryptocurrencies, some of them born as a joke, but the ones accepted by online casinos are very few. Which ones?
Bitcoin
Bitcoin (BTC) is the queen of cryptocurrencies, the first to be invented, the best known today, and the most widely used in the world. All casinos that accept cryptocurrencies certainly allow the player to use Bitcoin as well.
Ethereum
Ethereum is the best-known and most widely used blockchain after bitcoin; it is the one that introduced the so-called smart contracts that are revolutionizing global finance. The cryptocurrency on this blockchain is called ether (ETH) and is definitely present in all online casinos that accept payments via cryptocurrencies.
Litecoin
Litecoin (LTC) is another popular cryptocurrency launched in 2011 by a former Google employee who wanted to recreate the Bitcoin blockchain but improve its performance, especially in terms of transaction speed. Litecoin is often accepted as a system for depositing and withdrawing on crypto casinos.
Bitcoin Cash
Bitcoin Cash (BCH) was born in 2017 from a fork with Bitcoin, i.e., a split, and again the developers sought to maintain Bitcoin’s decentralized system but, at the same time, to speed up the number of transactions processed.
Other cryptocurrencies
Other cryptocurrencies that are generally found on online casino sites include Tether (USDT), which is a stablecoin, that is, a cryptocurrency whose value is tied to that of a reference fiat currency such as the dollar or euro. Then again Ripple (XRP), the payments network preferred by banks and financial institutions because it greatly improves on the Swift system in terms of transaction speed and fees. Some casinos may also support Dogecoin (DOGE), a cryptocurrency that was born as a joke but is incredibly resilient, thanks in part to the input of its main backer: Elon Musk.
The 3 Best Bitcoin Casinos
Let us now see, among the various casinos that accept Bitcoin and other cryptocurrencies, which three have the most interesting features?
Lucky Block
Lucky Block is a very unique platform that was born in 2021 as a global platform active in the field of online jackpots and lotteries. The substantial innovation it introduced was the use of blockchain that prevented any kind of manipulation and fraud in a field that does not shine for transparency.
7bit Casino
7bit Casino is a platform born nl 2014, well known in Italy and other countries thanks to the presence of as many as 6,000 games altogether offered and it is therefore impossible to get bored even for the most experienced player.
Bitreels
Bitreels is another well-known online casino in Italy. Active since 2012, it offers over 6,500 games of all kinds from the best software houses.
