Cryptocurrencies and online gambling

Nowadays cryptocurrency is fully used in the world of online gambling, with most casinos nowadays accepting Bitcoin, among other cryptocurrencies, as a form of payment. With Bitcoin casinos only accepting, and making payments, with cryptocurrencies.



Bitcoin and online casinos are an (almost) perfect match. There are numerous advantages of betting online with cryptocurrencies. Transactions are faster and more anonymous, there are no retroactive charges, nor is there the worry about taxes.

One of the main advantages of cryptocurrency casinos, is the existence of the Provably Fair system that has been integrated into all major Bitcoin casinos.

The provably fair algorithm is based on technologies that allow the randomness of online gambling to intensify and achieve a new level of fairness and transparency. In short, the algorithm uses the benefits of the blockchain in randomising actions, such as shuffling a pack of cards or flipping a coin.

However, gambling with cryptocurrencies raises some questions.Thus, the player should always be careful to check whether the casino chosen is legal and trustworthy, that is, if it has a license issued by a respected regulator, such as Malta, Alderney and Isle of Man. In the eventuality of a conflict with a casino licensed by some of these authorities, the player has a chance to get justice.