Bitcoin is enjoying its time in the limelight, and there is potential for it to take of as a widely-used digital currency. You can use bitcoins to buy a wide range of goods and services online, and you can even gamble with them at bitcoin casinos.
They are quite a new phenomenon in the online gambling market, and Slots Temple is offering up a beginner's guide to bitcoin gambling sites.
Where Do I Get Bitcoins?
You can buy bitcoins from various sources, and their prices vary from seller to seller. For 100 bitcoins, the prices ranged from $450 to $580. You can also mine bitcoins.
It is a like a digital version of mining for gold. It takes quite a while to build up a significant reserve, but it can be quite profitable in the long run.
How Good Are Bitcoin Casino Games?
We have to admit that – up until recently – there were not great. However, they are getting better. We are seeing some high-quality games with unique themes and impressive graphics. You can finally play at a bitcoin casino for a great gaming experience – rather than simply to gamble bitcoins.
Sites like Bitstars and BC Casino have a good selection of games, and their quality rivals actual real-money online casinos.
Can you Trust Bitcoin Casinos?
We’d advise that you exercise caution while gambling at bitcoin casinos, since there is no regulatory body to monitor these sites. Use forums and review sites to ask around, be sure that you only play at sites that are ‘provably fair’. These are casinos that use cryptographic hash functions that are not only impossible to crack but also permit players to see the functions to confirm that they have not been tampered with.
How Can I Spend My Winnings?
You can buy any number of items with bitcoins. Well-known retailers like Overstock.com and Tiger Direct both accept bitcoins. They sell clothing, electronics, furniture and jewelry.
There are also online marketplaces, where people sell video games, gift cards and concert tickets.
Who Should Play At Bitcoin Casinos?
We can’t really imagine anyone buying bitcoins specifically to play at a bitcoin casino, but some of the games do look really fun. If you mine bitcoins or sell items online for bitcoins, then you may want to give bitcoin gambling a shot.
If you don’t already have bitcoins, it might be best to give it a pass and just play at social casinos or real-money online casinos.