Traditional online casinos, if we at Slots Play Casinos can use the term “traditional” in reference to online casinos which came aboard only in 1994, had traditional ways to deposit and withdraw money.
Gamers come to online casinos to play casino games. Gamers love to be able to try out many casino games, something that is much harder to do at a land-based casino where there are just a few terminals for even the most popular slot games.
Depositing and Withdrawing Money from an Online Casino
There is a decidedly non-traditional way to deposit and withdraw money at an online casino. In fact, these banking methods are common at land-based casinos as well! The difference is that online casinos tend to give gamers a better gaming experience overall.
Online casinos use slightly different terms to describe this most modern banking method: bitcoin casino, crypto casino, bitcoin online casino, cryptocurrency casinos, and others as well! In addition to the traditional ways to deposit and withdraw from an online casino, many now offer online casino crypto withdrawal and deposit.
Obviously, we are talking about alternative currencies. So, we should begin at the beginning!
What is an Alternative Currency?
People who don’t want average citizens to use alternative currencies call them cryptocurrencies. The prefix crypto means “not real” or “not genuine”. It can also mean “hidden”. In this sense, the people who don’t want average people to use an alternative currency want to give the impression that a cryptocurrency is not really a currency; in other words, that it is not real money. Casinos with crypto are certainly real, genuine, and completely open to scrutiny.
What is Real Money?
All advanced societies need real money to do business. Even the poorest countries use real money to do business. So, the question is: what is real money?
Many things have been used as money throughout human history. For our purposes, for many centuries until bitcoin was created, real money was government money, what some people call fiat currencies. We should keep in mind, however, that just a few hundred years ago, English settlers bought Manhattan Island for some beads!
To the Native Americans, the beads were real money!
Why Do we Need Alternative Currencies?
This question is really: what is wrong with government money?
The simple fact is that governments have been increasing the supply of government money without increasing in equal measure the output in their economies. The result is price inflation.
In addition, governments are borrowing money and the great fear is that eventually the government might not be able to finance its debt and the government money will drastically lose value. Thus, the idea for an alternative currency was born.
What is a Bitcoin Casino?
This is simply a casino that allows banking in bitcoin. Online bitcoin casinos are just like all other online casinos except that they already have an arrangement that accepts bitcoin or other alternative currencies.
Rather than use the term bitcoin casino, we might refer to these casinos as crypto casinos. The goal is always playing casino games and banking is a necessary part of gaming for real money at any casino be it on land or online.
The best selling point is that these casinos are for all practical purposes instant crypto withdrawal casinos.
How Did Online Crypto Casinos Change the Casino Banking System?
The most traditional way to deposit money is with cash. At land-based casinos, gamers may want to deposit several hundred dollars and don’t want to walk around with that much cash.
The next steps were to deposit with a direct bank transfer or with a credit card. Both of these banking methods are very convenient and work quite smoothly but they offer very little privacy.
Privacy is a Paramount Desire in Most Situations
Many gamers don’t want their bank or their credit card company know that they deposited several hundred dollars at a casino. The result was the development of ewallets. Many casinos offer special promotions to online gamers who deposit using one or another ewallet to do so.
Ewallets are very convenient and more private than credit cards or direct bank transfers. Now bitcoin and other alternative currencies have entered the casino banking milieu. Crypto casinos are the most private of all casinos in terms of banking.
Is it Difficult to Use Bitcoin at an Online Casino?
It is actually quite simple. A gamer has to open a bitcoin account outside of the casino at a bitcoin exchange. Then he or she simply moves as many bitcoins as they wish to the casino or from the casino to their bitcoin account.
This All Seems So Confusing!
This is a common claim from people, not just gamers, who are having a hard time wrapping their heads around the concept of an alternative currency.
One of the most confusing aspects of bitcoin and all other alternative currencies is the idea of the blockchain as the way bitcoins are registered and moved.
For the purposes of online casino gaming with bitcoin, it is not necessary to understand blockchain! Who among us understands how< satellite technology works? How about computers or the internet?
In short, we use many, many technological breakthroughs without fully understanding them because they work! In the same manner, bitcoins work!
What Do Online Casinos Offer to Gamers?
This question already assumes that the banking method of choice is satisfactory to gamers who want to use it, including bitcoin. in this sense, an online bitcoin casino is just an online casino! Bitcoin casinos may offer as many as 10 different banking methods one of which is bitcoin!
The best crypto casinos are casinos that offer all of the things online casino gamers want!
Gamers Love Online Casino Bonuses
The first promotion a new online casino gamer receives is a welcome bonus. At many online casinos such as the casinos we at Slots Play Casino have reviewed and recommended, the welcome bonus is a series of deposit bonuses. The total value of all of the deposit bonuses that make up the welcome bonus can be $5000 or more!
Online Casinos Offer Many Promotions
Whereas online casinos can offer a wide range of promotions that often include free spins, land-based casinos cannot make the same offers. That’s because all bonuses come with a wagering requirement which is a factor of the bonus, usually about 30x, which prevents unscrupulous gamers from cashing out immediately.
Bitcoin Casinos Offer the Same Promotions as Other Casinos
It is a sign of the times that people use the term bitcoin casinos because they are still a bit leery of using bitcoin as their banking method of choice. Okay! But bitcoin casinos are just casinos!
Gamers Love Playing Online Casino Games
It has taken us a long time to get here but we are finally at the point where we can spend a little time extolling the many virtues of online casino gaming.
We mentioned earlier that gamers love receiving a welcome bonus. Gamers love to add to their bankroll via a deposit bonus through a casino promotion.
Slots are Still the Most Popular Online Casino Games
Players play progressive jackpot slots and all other slots as well. We always recommend that gamers watch their bankrolls especially when they play progressive jackpot slots since these slots tend to be very volatile.
Online Gamers Can Choose from Many Blackjack Games
It is common for a good online casino to offer as many as ten blackjack variations. Land-based casinos cannot do so because a blackjack table takes up a lot of space. Space is always in short supply at a land-based casino while it is most plentiful in cyberspace.
Video Poker is Growing in Popularity
Video Poker was once denounced as poor man’s poker! Today it is enormously popular. There is no bluffing in video poker. Online gamers can play many different video poker games. The return to player rate in both video poker and blackjack is about 99.5% assuming the player uses the best strategy on every hand.
Slots Play Casinos Presents All the Best of Online Gaming
Most of the casinos we recommend are bitcoin online casinos. A casino becomes a trusted bitcoin casino by being a trusted casino in every area. Our recommended casinos feature games from leading game providers.
We print great articles and reviews every week!
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