If you have been living on the moon, under a rock, or at the bottom of the Atlantic ocean for the past ten years, perhaps you haven’t heard about bitcoin yet. For those who have, the question of whether or not crypto currencies like bitcoin are a suitable option for gambling will no doubt have crossed your mind.
The facts seem to line up in its favour:
Bitcoin gambling pros
- It’s a secure digital currency making transactions trustless – you don’t require a bank or payment processor to carry your transaction.
- It is borderless meaning you can choose who you pay, again no bank or payment provider involvement.
- It is relatively anonymous, so you can retain your privacy.
However, as with any emerging technology, there are also some things that count against it.
Bitcoin gambling cons
- It is not given any protection – if you lose your bitcoin there is nobody to turn to.
- The technology supporting it is in some cases, immature. You might have to strap your techy boots on to figure out how to use it!
- It is in some cases the Wild West – a playground for unscrupulous rip-off merchants!
How to gamble with bitcoin safely
The first thing to remember is that not all casinos, bookmakers or bitcoin dice sites are created equally. You should do some research before playing. You can try a trusted online casino forum like the time-served Casinomeister, or check out a reputable casino bonus site offering bitcoin casino bonuses like Bonus Giant.
Whatever you choose to do next, there is a lot to be said for bitcoin gambling, and with innovations like the FunFair coin still building, who knows what the future could bring?