Bitcoin gambling debuts in the online gaming scene with little fanfare, but it has escalated to a continually expanding industry as more people become acquainted and enter the world of bitcoin and digital currency.
The beauty of it lies on the simple fact that it is not too distant from how one plays online casino games using real money. However, it boasts its own unique characteristics that require even the seasoned players in fiat-operated casinos to take time and learn the basic rules before gambling in a Bitcoin casino.
Rule#1: Understand Bitcoin and Gambling
Bitcoin and gambling are two separate entities that are already interesting on their own; that is why combining them creates a rather new dimension that may seem alienating to some, but revolutionary to many. It is for this very reason that a solid grasp of the fundamentals of bitcoin is necessary as lack of understanding is the main cause of resistance against it.
Moreover, gambling should be perceived as a form of entertainment, not as a profit-making activity. Therefore, it becomes the players’ sole responsibility to control their gambling habits, which can be done by following a strict schedule for playing Bitcoin games, limiting the bankroll, and simply knowing when to stop.
Rule#2: Check Reputation of Bitcoin Casinos
Scams and threats have become prevalent in the online gaming sector, so it is only logical to guarantee the reputation of the bitcoin casinos before playing. However, sometimes, online reviews can only go so far; thus, it is also advisable to check the interface and have a tour around the platform to help assess the website’s reliability.
Rule#3: Ready Bitcoins and Wagers
New players must never deposit and wager large amounts of bitcoin right away. Instead, allotting a small portion of the bankroll is advised. This is a great way to test the platform, especially the payment system. When it comes to the payment processes, taking note of the number of confirmations required, the deposit and withdrawal limits, and the transaction fees involved.
Rule#4: Ensure Security of Account and Wallet
Keeping the funds in the wallet instead of storing them in the accounts in casinos is the smartest thing to do in order to safeguard funds from possible threats and losses. This is but one way to guarantee security while playing in a Bitcoin casino online. Another is to choose a wallet that offers more features catered to protect bitcoins. A multi-sig wallet is a good option or keeping the bulk of bitcoins in a cold storage and having another wallet with bitcoins specifically for gambling is a good practice.
Rule#5: Be Open to New Bitcoin Casino Games
One of the charms of Bitcoin gambling is it is flexible. It manages to introduce games that present innovations and still offer high levels of entertainment. Thus, adapting to the different games, be they Bitcoin slots, roulette, dice, and many other card and table games, will be the key to fully enjoy the experience in gambling in a Bitcoin casino.