Online casinos have notoriously slow payment processing and offline sites have become a major problem. Bitcoins offer much faster payment processing, unless the casino deliberately tries to slow down the payment process. You also don’t have to enter your credit card information over the internet, a place known for stealing confidential information.
Bitcoin also lets you remain anonymous while gambling, and you can sign up as an alias without issue. The problem with bitcoin casinos, however, is how they’re often riddled with dishonest practices because of less strict regulation.
How do you know a good bitcoin casino from a scam casino?
Beware of Strictly Bitcoin Casinos
That means government bodies will not oversee or regulate the process, which leaves plenty of room for dishonesty and cheating. When looking for a bitcoin casino, look at the withdrawal methods. Some casinos offer deposits with the bitcoin, but the withdrawal must be made through another method. It is a good sign when withdrawal is offered in various currencies, but most online gamblers want a faster withdrawal method with bitcoins, which is the reason for using bitcoin in the first place.
Software Licensing: Important
The majority of online casinos will link to their licensing certificate towards to the bottom part of the homepage. Check out where the licensing took place. Emphasis on where because this indicates the credibility of a bitcoin site. If you see a license like UK gambling commission, the license holds more weight than Curacao eGaming.
The license shows how the casino does regulation, and it protects you. In the event an online casino cheats you, you can report it to the licenser. In particular with bitcoin casinos, you have to watch out for Curacao eGaming licenses.
Bonuses: What to Watch out For
Many bitcoin casinos will offer tasty looking welcome bonuses, but you have to check with caution. With bitcoins, for example, a common tactic employs the expiration of the bonus bitcoins. Every site will have different terms and conditions, and if you want to avoid a scam, you have to read. Especially beware when you see bigger bonuses offered. The bigger the bonus, the more you have to watch out.
Test Customer Support
Before you start gambling on a site, test the customer support to see how fast they respond. Do not be afraid to ask them difficult questions to see how they handle it. You can often determine how trustworthy a bitcoin casino will be based on their customer support. How do they act if you were cheated out of a big win? This becomes essential because no one wants to hit the lottery only to discover they chose a shady online casino that took their money and ran.
The Numbers Don’t Lie
The popular online bitcoin casinos are favored for a reason. Consider this and look at the regulars of the site. For example, does the site have an active and engaged online community of regular posters? Look up multiple reviews online and comb the internet for scam reports. If someone complains about the site, take it seriously and run.