What should i know before playing bitcoin slots?
March 29, 2022
Cryptocurrency has come to stay, and bitcoin is the first and most capitalized of all cryptocurrencies. So, it is no news that you can play with bitcoin in online casinos, as it is now widely accepted globally.
As an online slot game enthusiast, before you start playing with bitcoin in casinos, there are things you must know. This piece will share the needed information to begin bitcoin play slots.
Sit back to read about the basic things to know about bitcoin slots and learn about the three things you should know about bitcoin (BTC) slots.
First, you should know that BTC is not regulated by a bank or government. As a result of that, playing Bitcoin online slot games is readily accessible to you. If fair play and gaming software, depositing bitcoins, jackpots, and volatility are your concerns, they shouldn’t be anymore. Here are the necessary things to know before you start bitcoin play slots.
A genuine online casino that offers Bitcoin as a key currency allows you to confirm how authentic their betting rules are when you wager in Bitcoin. Attested Casino sites allow you to check if your bets are genuine when you place a bet in their online slots game. These casinos know that Blockchain technology lets you verify if they swindled you.
The difference between usual online casinos and verifiable online casinos is that the former need external organizations to verify if the game is fair. But in demonstrable casinos, you can check the authenticity and fairness of the slot game yourself. To verify if these casinos' bitcoin slot game is genuine, learn how to use the Server Seed, Client Seed, and Nonce.
Before you place a bet, the Server supplies the Seed and an encrypted hash. Once you get this Seed, that confirms to you that the Casino cannot change the results when you play their slots game. Besides, the Server seed prevents you from altering the results of an imminent bet.
Many aspiring i-game players may like to try bitcoin play slots, but face the problem of how to get bitcoin and deposit Bitcoin in their player’s account. Obtaining Bitcoin and depositing the same is not complicated.
To buy Bitcoin, go to a trusted Cryptocurrency Exchange like Coinbase or Gemini, and buy Bitcoin with fiat money. However, you must open an account and link a payment solution like a debit bank card or do a fund transfer to your account at the Coin exchange. Transfer to the Exchange the fiat money Bitcoin equivalent.
Next, create a Bitcoin Wallet for sending the Bitcoin directly to the Casino Bitcoin address. Note that the bitcoin wallet is like a bank account, while the Bitcoin address is like the bank account number. Visit your favorite Casino and browse to the banking page to create a bitcoin wallet address. This allows you to receive the Bitcoins you wish to deposit into your casino playing account.
To fund your playing account in BTC, obtain the casino’s BTC wallet address from the casino. Copy and paste it to avert errors, and send an amount you want to bet with to that address. After that, wait for a few minutes to confirm that the Bitcoin BTC money you sent from your Bitcoin wallet is in your Casino playing account. Begin to bet in bitcoin play slots.
History shows that Bitcoin casinos have been paying out large Jackpots to players. That is why online wagering in bitcoin play slots is one of the most popular casino games.
For instance, a player won the highest jackpot of 11,000 bitcoins in September 2013 and collected a payout worth $1.5 million. The valuation of BTC then was low. Today BTC value has gone up and that player would get more money today.
Another recorded bitcoin jackpot occurred in May 2014 when a player won 765 Bitcoins worth $550, 000. The recent Jackpot happened in January 2017 when a player won the sum of 260 BTC worth $275,000. These results prove that Bitcoin slots machine payout is similar to fiat money slot machine jackpots.
Do you want to start betting in bitcoin play slots? Note that as the cryptocurrency market prices go up and down, so does Bitcoin. That means your winning will fluctuate depending on the daily price of Bitcoin.
Bitcoin currency valuation can lower your holding by more than half in a single day. In 2017, Bitcoin was valued at $10,000 and by December 2017, the price doubled. But, in June 2019, the market reversed and, the price went to $8,000.
Though Bitcoin often swings high and low, it also swings sideways. If you wish to keep the worth of your money in a stable currency, stay off betting on a bitcoin slot machine.
Although the negative side of betting in a bitcoin play slots machine is the volatility of the cryptocurrency, the good sides outweigh that feature. Let’s look at the benefits below.
Just as online betting sites give welcome bonuses to new players, so do Bitcoin crypto casinos. The amount of most online site bonuses is casino-dependent, and the same applies to Bitcoin gaming sites. The welcome bonus is between 0.1 to 1 BTC.
Supposing a Bitcoin casino offers you a matching bonus of 100% of 1 BTC, and deposit 0.1 BTC, you will receive 0.1 BTC. Receiving and using the Bonus is subject to that casino’s terms and conditions and wagering requirements.
A wagering condition means the amount you must bet to get access to the welcome bonus. Usually, that requirement range between 40x to 50x the offer to you.
Bitcoin legal Casinos let you withdraw your winnings from your account quickly in different ways. Multiple withdrawal options are an incentive to play bitcoin play slots machines.
However, some banking methods like fund transfers or e-wallets take longer to withdraw your winnings as the operators must approve the withdrawal before you can get the money. If you compare those methods, to using the Bitcoins option to withdraw your winnings, you will notice the huge difference.
When you choose Bitcoins, miners instead of those companies approve your withdrawal in about 30 minutes. In addition, when you get a payout in Bitcoins nobody investigates the business you are doing, unlike banks and credit card companies who must verify the source of your earnings before they process your withdrawal.
In the US, the Unlawful Internet Gambling Enforcement Act (UIGEA), stops American monetary organizations from processing unstructured gambling dealings. Assuming you are American, you can play in many online casinos provided you are not playing in controlled markets such as Nevada, Pennsylvania, Delaware, and New Jersey. Likewise, Washington banned internet gaming.
The (UIGEA) Act, makes the offshore casino’s processing of your winnings challenging. Thankfully, the Federal government does not control Bitcoin transactions. So, you can play in multiple reputable online bitcoin casinos since the government does not regulate Bitcoin transactions.
Bitcoin play slots machines let you enjoy swift withdrawal and unfettered access to your winnings. Betting in Bitcoin provably online casino is safe, and you can get a bitcoin wallet to transfer BTC to your preferred casino wallet address.
Besides, you can win jackpots and play more slots machines in bitcoin online casinos. Beware of Bitcoin volatility, which makes your balance keep changing daily.
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