Choosing the best Bitcoin Casinos can be a laborious process especially if you don't know what you're doing. We consider ourselves the experts in this field and we're happy to report that we've already done all the legwork for you. In this article we're going to tell you a bit more about Bitcoin and what to for before you deposit and play at a Bitcoin casino.
Australian Bitcoin Casinos Online
Choosing The Best Bitcoin Casino
Oz Bitcoin Casinos
”As a cryptocurrency Bitcoin is fast becoming the de facto currency for the 12st century, it’s also shaping the online gambling industry in more ways than one.”
Now that the Australian government practically outlawed casino gambling online many foreign-based operators exited the market leaving a massive void. The good news is that Bitcoin caused the pendulum to swing in favour of the player once again. As a decentralized currency Bitcoin transcends jurisdictions; players can wager online when they want and from where ever they want.
So-called experts claim that Bitcoin still finds itself in uncharted waters, because it’s a relatively new currency they deem it volatile and it’s not safe to use. Satoshi Nakamoto created Bitcoin a peer-to-peer electronic cash system on October 31st 2008.
Another feature that makes Bitcoin unique is that there’s no middleman to muddle the waters, come to think of the biggest financial disasters were caused by banks. Bitcoin is a digital monetary unit that can be stored in a Bitcoin wallet and it’s totally independent from banks.
Over the years the value of the digital currency has grown substantially; in 2009 1 Bitcoin equaled one US dollar. Presently one Bitcoin is trading at $3,200 while it hit a new high of $5,000 earlier this month and long term valuations of up to $120,000 – $500,000.
Why Bitcoin is Advantageous to Australian Online Casino Players
Bitcoin can be used to procure goods and services online, at the same time it offers anonymity and it can’t be traced. Users can send and received cash from any Bitcoin casino no matter where it’s situated in the world. The best bit about Bitcoin to us is that it’s your money, no financial institution can tell you what to do with it-when it comes to bitcoins, you’re the Captain of your own ship!
Are Australian Bitcoin Casinos Safe?
This might sound like a moot point but not all of them are. Problem is there are many Bitcoin operators out there:the good, the bad and the ugly. We’re going to telly you a bit more about the good ones. The cons of fiat currencies outweighs that of bitcoin’s by a country mile. Keep in mind that there’s still a couple of niggles that needs to be iron about Bitcoin since no monetary unit is perfect. Right, back to the task at hand, how to choose a reputable Australian online Casino:
1. Software and Game Diversity
The spice of life makes the world go round and it also applies to online casinos. The operator must have a divers suite of games that includes slots, table games, multi-million dollar jackpots, a live dealer and mobile casino and video poker. You want to play unencumbered and you want to have a good time!
2. Bonuses and Promotions
A Bitcoin Casino must offer new depositors a perk in the form of a welcome bonus package, it’s non-negotiable, period. Once you’ve used the bonus the casino must be able to prolong your stay in the form of daily, weekly and monthly promotions where free spins, comps, rebate on losses, reload bonuses, extensive rewards programs with loads of perks and special bonuses are given.
3. Deposit and Withdrawals
Players from Down Under can store their bitcoins either in an account like Xapo that’s pretty similar to that of an e-wallet or it can be stored on a computer. Xapo enables bitcoin casino players flexibility in terms of deposits and withdrawals, if it’s the latter a small transaction fee is charged.
Bitcoin gambling operators notify players at the footer of their webpages that they have a responsible gambling program and the necessary security software in place.
As mentioned previously, Bitcoin is completely independent since it’s not restricted by a government. However, Bitcoin casinos must play according to the rules and regulations of the jurisdictions they’re licensed in. Those that operate from the UK must be licensed by the British Gambling Commission.
Operators that accept bitcoin as a deposit and cash out method must demonstrate that their games are fair. This entails random tests of their RNG’s (Random Number Generators) by independent auditing houses like eCOGRA, TST (Technical Systems Testing) or Gaming Laboratories International (GLI). It’s important that their games give players a fair chance at winning.
Top gambling and online slot manufactures which incorporates NetEnt and Microgaming games in their libraries are compatible with Bitcoin. It’s a win-win so to speak, as an Australian player you get to deposit and play with best online currency and you get to play the best providers’ games since they’re no longer available to fiat currency players.