One of the easiest ways for players in the USA to transfer money and enjoy playing at USA online casinos is through the use of cryptocurrencies. There are several different types of crypto coins that are commonly accepted and easily available to buy online and many are accepted by various gambling sites. However, when it comes to gambling for real money in USA, Bitcoin casino USA are the most popular choice.
There is nothing illegal about purchasing cryptocurrencies or gambling at online casinos. In fact, using cryptocurrency and playing at casinos that accept crypto coins has many advantages. From anonymity to fast and efficient deposits and withdrawals, players that take advantage of blockchain technologies for their online casino banking options reap many exclusive benefits.
You’ll find online crypto casinos that accept all sorts of different crypto coins. To name just a few, it’s possible to fund an online casino account and gamble with Bitcoin, Litecoin, Dogecoin, Ethereum, Zcash, Dash, BitcoinCash, and Monero. There are slight differences in how each of the coins works, but they all use the same basic system to allow for the safe, secure, fast, and anonymous transfer of funds between people anywhere in the world.
Best Bitcoin Casinos USA 2019
Cryptocurrency Casino Pros And Cons
Just like using credit cards or an online e-wallet to fund your online casino account, crypto coins have their advantages and drawbacks. Overall, though, they give players a lot more freedom of choice about what they do with their own money, their privacy, and where they would like to play.
Advantages of Bitcoin Casino USA
Work Around US Payment Processing Difficulties
Many US players are under the impression that it is illegal for them to gamble online. This is actually not true. Laws in the US prohibit payment processors from working with gambling companies. They don’t prohibit players from playing. That’s why many online casinos don’t accept players from the USA, they simply don’t want to deal with the headaches of trying to move funds back and forth between players when the options are so limited.
That’s where cryptocurrency comes in. Since cryptocurrencies are not issued by any government and transactions are not processed by any institution or organization, there’s nobody to answer to except for the people sending money to one another. It’s the same as two people exchanging cash on the street.
Plus, while using regular methods the deposit and withdrawal limits are usually pretty narrow. That’s not the case with BTC. Here the limits are very loose which can serve both low minimum deposit casino players and high rollers.
Maintain Your Privacy
Another big part of using traditional payment processors for anything is that you give up your privacy. Somebody, somewhere, will have records of your money going out and coming in and how much, etc. You’ll have to provide your name and other information in order to verify your identity if you want to use a credit card or pay from your bank account. Whether you realize it or not, whenever you pay for something using anything other than cash, all sorts of information about you is changing hands.
When you conduct your transactions using crypto coins, as we said, it’s about the same as passing cash from one hand to another. Cryptocurrency transactions are sent from one “wallet” to another. You can think of a cryptocurrency wallet as a sort of specialized email address. You can attach your name to it if you like, or you can choose not to and remain anonymous. The point is that just like someone can send you an email without knowing your phone number or home address, someone can send you cryptocurrency—or you can send it to them—without knowing anything other than the address of your wallet. Whether they know anything more is up to you.
The networks that make cryptocurrency transactions possible are peer-to-peer networks. That means that the computers that make up the network work together to make decisions and keep everything functioning. There is no central person or device governing everything. For something to be valid (or invalid) the group must agree.
Since all transactions on the network must be verified by many computers on the network, it makes it impossible for anyone to do something like hack into a database and change a record to either give themselves money or take money from someone else. If your wallet is stored on your own device, as opposed to a cryptocurrency exchange, nobody can do anything with your balance unless they get into the device where the wallet is stored.
In addition to any other benefits that cryptocurrency offers, transactions are fast. Whether you are depositing into your casino account or withdrawing from your casino account, the transactions will be verified and completed within seconds in most cases. You’ll get the same service, if not better, as you do when you use a credit card or any other electronic payment method.
Disadvantages of USA Bitcoin Casinos
Your Security Is Up To You
In the same way that cryptocurrencies can give you security, they also require a great deal of responsibility. As we said above, you can store your wallet on your own device where nobody else can touch it. This, however, means that if you lose that device you lose your wallet—and your cryptocurrency. It is just as if your real wallet fell out of your pocket on the street and you were unable to find it. Its contents are lost—for good.
If you’re going to store any meaningful amount of money in the form of cryptocurrency, you absolutely must take responsibility for safeguarding and backing up your wallet. Once it is lost it can never be recovered.
Cryptocurrencies Can Be Volatile
The value of cryptocurrencies can change very quickly compared to traditional currencies. Bitcoin, for example, has gone through several periods where the value of a single Bitcoin has gone up or down by thousands of dollars within a period of just a few days.
This is not a regular occurrence, and most cryptocurrencies are much more stable in comparison, but one must still be prepared for values to fluctuate. Your crypto coins could gain value after you deposit with an online casino, but they could lose value just as easily.
Payments Are Not Reversible
Before sending any funds to anyone in any type of cryptocurrency, you should understand that payments are absolutely not reversible. The nature of the decentralized network makes it impossible.
Once you initiate a cryptocurrency transaction, there is no way to take it back. It’s not like making a credit card purchase where you get some sort of gaurantee and the ability to request a chargeback if something goes wrong. It’s important that you know who you are sending funds to and, especially in the case of crypto-friendly online casinos, that they have a solid reputation.
BitCoin Casino Bonuses
There are plenty of online casinos that offer special bonuses to players who fund their accounts using cryptocurrencies. Since the cryptocurrency transactions are faster, easier, and cheaper for them, they want to encourage their use as much as possible.
Just like players using any other funding method, crypto players will find welcome bonuses, reload bonuses, and other promotions. In many cases, the bonuses offered to those who choose to fund their accounts using crypto coins are more generous. You’ll find such benefits as bigger bonus amounts and more favourable terms and conditions for clearing and collecting bonuses.
BitCoin Casino Games
Many online casinos have games that are available exclusively to players using BitCoin or other cryptocurrencies. You’ll find everything from common games like online slot machines and table games to games that are a bit harder to find like dice and lottery-type games.
Also, since crypto coins can be divided up into just about any amount you like, you can often play at your favourite games for extended periods of time that aren’t possible when you have your account set in another currency.
Provably Fair Casino Games
Provably fair games are a concept that originated with the Bitcoin gambling industry. Because online gaming and Bitcoin both had somewhat shaky reputations at first, game developers wanted to give players a way to prove for themselves that the games they were playing were fair. Provably fair online casino games were born.
The technical details of how it all works are a bit outside the scope of this page, but here’s a simplified explanation.
The games use a combination of cryptography, input from the player, and a random number generator to generate results. The cryptography secures everything so that the player can verify that nothing has been changed. The input from the player provides an element of randomness that is completely out of the hands of the casino, and the random number generator provides something from the casino that is out of the hands of the player.
Before you play a game, you’ll give the casino site your input. It can be a number, a bunch of numbers, or a long string of numbers and letters. That will be combined with the casino’s input and a cryptographic fingerprint will be generated. The two inputs will be used to generate the results for your game(s). When you’re done playing, you can compare the results you got by using the cryptographic fingerprint. The math behind it all will prove that the results were generated using one variable from you and one variable from the casino and that nothing was changed in the middle. If the casino changes anything to alter results, the fingerprint generated before the game began won’t match. It may seem confusing, but it’s not as complicated as it sounds.