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Pros and Cons of Gambling with Bitcoins

By: Staff Writer

How to make the most of using Bitcoins to play live dealer games.

The online gambling market is a constantly evolving environment. Internet-based casinos get upgraded and updated regularly, either with new game additions, new bonuses and promotions or new services for the players to make use of.

Both beginners and seasoned gamblers enjoy a good place to place their wagers, a place that has it all – a wide selection of quality games, guaranties fast payouts, pays attention to customer care and advocates for a multitude of payment options to make their customers feel covered in every way.

One of the newly added aspects to online casinos is the possibility of using digital currencies such as Bitcoin. There are hundreds of games you can play online using Bitcoin, and a lot of casinos fighting to get their piece of the pie in all this. Bitcoin gambling, in a nutshell, is an extremely convenient activity, mostly because a digital currency offers a higher level of privacy compared to traditional currencies.

How to Gamble with Bitcoins?

Honestly, you don’t need a guide book to master the skills of gambling online with Bitcoins, as it is an easy craft to pick up. The two most important things you have to ensure are that you’ve acquired enough Bitcoins for play and that the casino you wish to join in fact accepts Bitcoins. Some casinos allow Bitcoins along with other, more traditional currencies and payment methods, while some are exclusively loyal to the virtual cryptocurrency system.

In order to use Bitcoins, for gambling or other commercial purposes, you need to set up your Bitcoin wallet and fund it with Bitcoins first. With several options for acquiring Bitcoins such as Local Bitcoins.com, Coinbase.com portals, or maybe buying them from a friend, we’re sure you won’t have any trouble reaching your desired Bitcoin budget.

Because Bitcoin is a form of electronic money that originates from the process of people trading with it, there will be no intermediary between you and the casino when you make your deposits or withdrawals in the Bitcoin currency. Also, you won’t be facing any limitations when it comes to game selection. You’ll be able to gamble in a healthy, normal way.

Live Dealer Casinos – Playing with Bitcoins

Wagering with Bitcoins does not differ from wagering with regular money as soon as you enter the casino library. There are multiple online casinos that host Live Dealer sections with a considerable number of variations of popular table games. Combine them with the number of casinos that accept Bitcoins and you’ll get a solid range of websites to choose from if you want to invest your precious Bitcoins into a game of live-streamed roulette, for example.

The Live Dealer section at virtual casinos will have at least one version for each game: Live Roulette, Live Blackjack and Live Baccarat. Sometimes there will be other versions available. And if you join an all Live Dealer Casino, chances are you’ll be able to play multiple variants of roulette, blackjack, baccarat, poker and dice, all streamed in real time, with very much alive croupiers and hosts.

Let’s say your major points of interest are Live Dealer Games and Bitcoin. Is there a place you can make both things come true? Certainly! We recommend BetBit casino for a complete live casino experience complete with Bitcoin payments and attractive Bitcoin promotions. For a more elaborated exposition on Bitcoin as a banking option accepted at Live Dealer Casinos visit our Bitcoin banking section.

Why Bitcoin Gambling?

Bitcoin gambling is something every passionate bettor should at least try. As a virtual currency that uses cryptography for the purposes of safety, anonymity and security, Bitcoin makes it possible for players to gamble more carelessly so they could enjoy the games more. We aren’t saying Bitcoin is the perfect means of payment, but we’ll leave you with a list of both benefits and drawbacks so you could decide for yourself.

Benefits:

  • Bitcoins are cost-effective because you don’t need to pay third party processing fees.
  • Anonymity. As long as the payment is verified, there is no need to confirm the person’s identity.
  • Transparency and quickness. Bitcoins fast approach to transactions benefits casino players.
  • When gamblers use them at Bitcoin-only casinos, they can expect the best odds and payouts.

Drawbacks

  • Extremely different than traditional currencies, may be a bit of a challenge for players to get familiar with the concept.
  • Since it is still a young payment system, there are concerns about security, because of the need to apply precautions rather than rely on safety of banks.
  • Volatility. The Bitcoin value can experience serious changes on an hourly basis.
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