Cryptocurrency gave us many opportunities in various fields. Even for gamblers and lottery players it has opened new horizons.
I bet everyone has already heard about online casinos, but Bitcoin casino is a new trend in market. Read in my article how did Bitcoin casino appear and why it is so popular among players nowadays.
Advantages of Bitcoin casinos
Bitcoin casinos have become more and more popular in the past few years as it allows many operators to avoid some regulations required by traditional online casinos. Cryptocurrency also provides rapid transfers, and pseudonymity. There is an opinion that Bitcoin casinos could possibly take over from regular online credit card or other payment method gambling simply because the technology is there to play anonymously and many players prefer it. It also offers zero transaction fees while traditional casinos set some fees and even transaction limits.
How does it work
Bitcoin casinos usually provide new registrations with an in-house wallet, which users can transfer Bitcoins to. All profits are returned to a user’s in-house wallet from where user can direct a transfer to their private wallet. One of the biggest advantages for the players is that any user’ s profits or losses are not inherently taxable unless declared to a legal authority.
If you wondering if it is legal or not, then my answer – it depends on particular regulations of each country. In particular, US citizens are prohibited from running a Bitcoin casino in their home territory. But many operations are incorporated elsewhere.
Few famous existing casinos are
- Satoshidice, bitzino, satoshibet, swichpoker, StrikeSapphire, bc-casino.com, BtcSpiortsBet, BitLotto, Bitstarz, mBit, CloudBet, BitCasino
What do you think about cryptocurrency and Bitcoin casinos? Are they legal in your country? Share in the comments below! If you have your question, please write it below, I would be glad to answer your questions or to introduce your project to my team at Astorts Group to be evaluated.
Alessandro Rocco Pietrocola is an entrepreneur and investor based in London and operating mainly in Europe, Asia and Oceania with main focus on UK, Baltic Countries, Russia, China, Hong Kong, Malaysia, Singapore, Middle East and New Zealand as area of interest! At the moment is the Ceo of Astorts Group. He is an UK FCA (Financial Conduct Authority) Approved Person and is has great experience as director of regulated companies. He uses to dedicate part of his life to inspire others and help them achieve the most out of their life. Since he was 20, he had successfully founded and managed several companies operating in the field of management consulting, wealth management and fintech. He loves travelling, he is a cigars lover, an amateur golfer and a dapper man.