Playing in Bitcoins May Be Better than in Other Currencies
One of the most dramatic developments in the world of online casinos is the advent of the so-called Bitcoin Casino. Although there are several newer online casinos with the word “bit” in their name, there are far more well-known casinos that have added bitcoins to their list of accepted currencies.
Bitcoins Solve a Great American Dilemma
Before we go any further, we must point out that bitcoins are the perfect way for US players to get around the onerous law from 2006 that made it illegal for banks and credit card companies to transfer money to online casinos.
Bitcoins transfers are considered “peer to peer”. That simply means that there is no intermediary.
For players from the US, joining a bitcoin casino USA is a great way to return to online gaming!
But this little golden gem is not just for USA casinos. We find that Bitcoins are accepted at many of the casinos we cover here:
The Bitcoin is very quickly becoming an extremely well-accepted form of payment across the globe and across a vast variety of services.
We will do two things in this article. First, we will talk about bitcoins as if it was like all other currencies. You’ll find that you can have your cake and eat it too with bitcoins!
We understand that many players and casinos are not sure what bitcoins are and that they are actually real currencies. We’ll see that bitcoin casino bonuses are real bonuses! A bitcoin casino free spin bonus is as real as if it were in any other government currency!
Then we will explain what bitcoins are and how you can use them to deposit at some casinos. Before making your first deposit, you might be able to get a bitcoin casino no deposit bonus. We assure you that even if it’s strange the first time, you’ll quickly get used to the idea of banking and playing in bitcoins!
Many Casino Goodies in Bitcoins
You can use bitcoins to earn the same type of benefits we easily associate with dollars, Euro, British Pounds, and so forth. The key is whether you can deposit in bitcoins. If you can, then you can have receive a bitcoin casino free spin bonus as part of your welcome package or as part of any other promotion.
Just as there are Euro casino bonuses, there are bitcoin casino bonuses. In practice, bitcoin casino bonuses are no different than bonuses in other currencies. Here, the difference is one of perception. Many players and casinos still don’t see bitcoins as currencies in every way, shape, and form.
If a casino accepts bitcoins, you can enjoy every extra benefit as if you were playing in USD, AUD, CAD, or Euro! Casinos that award bonuses before asking you to deposit will also offer a bitcoin casino no deposit bonus.
100 and Growing
Presently, there are over 100 online casinos that accept bitcoins. As people’s understanding of bitcoins grows, the number of bitcoin casinos will grow as well. The great benefits you have come to expect from the finer online casinos are available in bitcoins, too!
So, today, there is really no reason for an online casino to not take bitcoins. It follows that more and more casinos will begin to accept players from the USA again!
So, What Are Bitcoins?
Bitcoins were “invented” in 2009 as an alternative to all government currencies. Bitcoins have no central printing press or treasury. You can’t buy government bonds in bitcoins. Bitcoins are “mined” and then circulated among people who accept them.
Why Do We Need an Alternative Currency?
We are so used to government currencies that we have a difficult time of it understanding the need for an alternative. At first the whole idea of an alternative to government currencies was considered a bizarre idea. However, a form of bitcoin was actually predicted by no less than Thomas Edison over 100 years ago. So, why do we need an alternative currency and how, exactly, does it work?
It’s Sad but True
With every other currency, the banking system and the government are intermediaries in every transaction. That’s fine until all those currencies suffer devastating drops in value. The indiscriminate printing of government money leads many people to fear just such a catastrophic monetary crisis.
That Will Be Ten Bitcoins Ma’am
If we think about bitcoins as a form of money that some people accept in order to do business we can see that, as a means of transaction, they are no different than government money. But, it is theoretically impossible to have too many bitcoins. Therefore, the only difference is in our perception of bitcoins.
Choose your Fav Bitcoin Casino
If bitcoins are fundamentally no different than government money as a means to do business, you would expect all online casinos to accept them. That is not yet the case although there are now more than 100 casinos that do accept bitcoins and many are very well known names.
The casinos that accept bitcoins treat them like every other currency. Many casinos allow deposits in bitcoins but not withdrawals. No doubt, these casinos will soon add withdrawals to their bitcoin banking options.
A Boon for US Players
The law that was passed in the US in 2006 made it illegal for credit card companies and banks to transfer money to online casinos. The law only spoke about money transfers; it did not make online gambling illegal.
So, bitcoins are the perfect way to get around the law. There are no banks or credit card companies involved in the transaction between the gamer and the bitcoin casino USA.
With over 100 casinos already on board with bitcoins and the number growing fast, you can see that it is truly impossible to name the best bitcoin casino. We can say that a casino that allows deposits in bitcoins should also allow withdrawals in bitcoins.
When you look for a reputable bitcoin casino, look for one that offers full banking in bitcoins. Bitcoins and solid reputation make a perfect combination. For USA players, it means finding a bitcoin casino USA that will facilitate your return to online gaming!