Bitcoin casinos are experiencing a bumper year in 2020, with players flocking to these gambling destinations faster than ever before. But what’s making these sites so attractive for casino gamblers?
To see the latest Bitcoin casinos and understand just how much of an impact they are having on the online casino sector, checkout this Coinbuzz Bitcoin casinos guide. For information on why their share is increasing, keep reading.
What do Bitcoin Casinos Have to Offer?
On the face of it, the only difference between a Bitcoin casino and a fiat currency casino are the payment options. But there are actually a number of differences between the two, and it’s these differences that have helped Bitcoin casinos to stand out from the crowd and become the major attractions they are in 2020.
These differences include:
- Bigger Bonuses
Bitcoin casinos tend to go all-out with their new player bonuses, but these function a little differently from what you might be used to. Rather than offering a single or multiple bonus payouts, they combine elements of Welcome Bonuses with Loyalty Bonuses and create something that more closely resembles poker room bonuses.
For instance, many top Bitcoin casinos are currently offering a 5BTC Welcome Bonus. That sounds like a staggering sum of money on the face of it, especially when you consider that 5BTC converted into USD is over $46,000. But this isn’t released as a single sum.
Instead, players are tasked with unlocking small chunks of their bonus every time they play. For instance, they may unlock 0.10 BTC for every 1 BTC that they gamble. The great thing about this bonus is that it appeals to micro stake players as well as high rollers and because it’s a long-term loyalty-specific bonus, it doesn’t expire in 7 to 30 days like so many other welcome offers.
One of the biggest benefits of Bitcoin gambling, and Bitcoin use in general, is anonymity. This digital currency is not tied to a centralized bank and unlike credit cards, debit cards, and even web wallets, the transactions are not recorded.
This has led many to state that Bitcoins are completely anonymous and untraceable, and for a long time, this was believed. The truth is that they are not completely anonymous, but they certainly cannot be traced as easily as other methods.
This kind of anonymity is great for gamblers who are concerned about banks and financial institutions recording every move that they make. That doesn’t necessarily mean they are up to no good, however, as there are countless gamblers who simply don’t like having their actions recorded and prefer to keep their habits out of sight.
In an age where it feels like Big Brother is watching everything we do, this sort of anonymity can provide some much needed freedom.
- No Verification Issues
Casinos that operate under licenses from the UK, Swedish, and even the Maltese Gaming Authorities are required to abide by strict Know your Customer (KYC) and Anti-money Laundering (AML) rules, and these can cause endless strife for players.
Essentially, it means that you can’t make a withdrawal unless you have verified your identity, which can require submitting documents such as a passport, driver’s license, utility bill, and even the front/back of a credit or debit card.
All of this is fine and acceptable if the process runs smoothly, but that’s rarely the case. Regulators make these demands and then expect casinos to follow them for every single player. But when those casinos are small and lack the infrastructure needed to make this commitment, these processes can take a lot of time and cause endless frustration for the player.
Many Bitcoin casinos, however, operate under license from the authorities of Curacao and don’t require such strict rules. This is still an official regulator and the sites are still secure and fair, but the lack of such strict and demanding rules makes things much easier for new players.
- Unique Games
In the early days of Bitcoin gambling, casinos had to get creative if they wanted to entice players on board. It was also harder for them to get licenses with regulators and developers. As a result, cryptocurrency casino creators began to emerge, creating games that were developed exclusively for use with this software, games that differed from the norm.
That’s why Bitcoin casinos often have many titles that you have never seen before, games that are still as fun and fair as everything else out there but offer a little more variety and uniqueness.
In 2020, thanks to the rapidly evolving Bitcoin gambling industry, these sites have also started working with more established developers, which means they now offer even more variety and have some of the most eclectic games rooms in the online gambling industry.