Aside from holding digital assets as a store of value, many people are beginning to use it in other verticals such as gambling. Unlike traditional fiat, cryptocurrencies have the potential to see significant growth in their underlying value. With this being said, gamblers are turning to digital assets to take their experience to a whole different level. What are the best Bitcoin Casinos in 2020? We take a look at some of the most popular casino destinations for cryptocurrency fanatics.
How Bitcoin Casinos Work
Bitcoin casinos take the traditional experience in gambling and structure it around Bitcoin, which is the world’s largest cryptocurrency by market cap. Unlike traditional currency, Bitcoin is a digital asset that can fluctuate greatly in its underlying value. With many investors turning to BTC as a “global hedge,” the digital currency has been one of the best performing asset classes over the last decade. Five years ago, Bitcoin’s price was around $395 / coin. If we fast forward to now, BTC is currently trading at $18,500. Gamblers have understood the growth potential and are now turning to Bitcoin casinos where they can either use or accumulate Bitcoin. Some Casinos operate strictly with Bitcoin and other digital assets, while others offer hybrid models such as supporting crypto assets and other currencies such as USD and EUR.
Are Bitcoin Casinos Legit?
It is important to note that it is illegal to operate a Bitcoin Casino in the United States. With this being said, most of the casinos being operated legally are incorporated outside of the United States. With Bitcoin and blockchain technology still being in their infancy, there is no doubt an ethical gray area in this space. Since Bitcoin is tied to an address as opposed to an individual, a lot of casinos will have minimal user information which gets tricky from a regulations standpoint. On the flip side, BTC casinos have been known to offer favorable terms such as zero transaction fees and unlimited daily transactions. This is something that is rarely found in traditional casinos.
Best Bitcoin Casinos ( Top 10 In 2020 )
- BitStarz Casino
- mBit Casino
- 7Bit Casino
- FortuneJack Casino
- Bspin.io Casino
- CryptoThrills Casino
- Betcoin.ag Casino
- BetChain Casino
- CryptoWild Casino
BitStarz is one of the top cryptocurrency casinos that offers support for Bitcoin, Ethereum, Litecoin, and many other altcoins. The platform states that they have more than 2.7M registered users. They have built a competitive advantage with their cutting edge “auto-processing system,” that avails quick withdrawals from the platform. The average user waits no longer than 10 minutes to process a cashout. Users can seamlessly deposit cryptocurrency on the platform through a couple of easy steps. In addition to BTC games, BitStarz also offers support for slots, jackpots, table games, live casino, and more. For a welcome bonus, BitStarz offers 100% up to 1 BTC deposit and +180 free spins. For a second deposit, BitStarz offers 50% up to 1 BTC deposit. There are also on-going promotions for third and fourth deposits.
mBit has built an innovative online gaming platform that has a passion for user privacy. With users transacting in Bitcoin, they can deposit and claim their winnings anonymously and securely. Users flock to the platform due to their Bitcoin games, Bitcoin slots, Baccarat, Blackjack, Video Poker, and much more. Slot machines range from low Bitcoin limits ( fractions of a BTC ), all the way up to hundreds of BTC per spin. All new players are welcome to the platform with a 110% deposit bonus.
7Bit Casino is an online bitcoin casino where users can deposit and withdraw their earnings in USD, EUR, BTC, and other cryptocurrencies and fiat currencies. Aside from Bitcoin focused games, the platform also offers Ethereum gambling, Litecoin gambling, and Dogecoin gambling. 7Bit Casino currently offers a welcome 100% bonus up to €100 or 1.5 BTC.
FortuneJack is a cryptocurrency casino built for a beginner or experienced gambler. The platform accepts various cryptocurrencies such as Bitcoin, Litecoin, Dogecoin, Ethereum, Zcash, TRON, DASH, Bitcoin Cash, and Monero. FortuneJack is one of the oldest Bitcoin casinos and differentiates itself with a sportsbook. The sportsbook covers American Football, Basketball, Soccer, Tennis, Ice Hockey, and more. The platform’s welcome bonus includes 25 free spins even if you do not make a deposit. If you make a first-time deposit, the platform will provide a 110% bonus and 250 free spins.
Bspin.io Casino uses Bitcoin as the sole currency on the platform. This simply means that users will facilitate deposits and withdrawals in BTC. Bspin now offers more than 700 games and continues to add more every month. With the platform being created in 2019, it is still young compared to other competitors. Despite this, Bspin is creating a name for itself due to its sole Bitcoin structure, large game selection, and cashback bonuses. The platform’s welcome bonus includes 100% fair bonus up to 1 BTC plus 20 free spins in the “Fruit Zen” game. Bspin offers bonuses for second and third deposits ( reloads ) as well.
CasinoFair is one of the first online casinos to leverage cutting edge blockchain technology to ensure fairness. CasinoFair leverages the Ethereum blockchain and is built on “FunFair Technologies Proprietary platform.” In doing so, the casino can enhance security by using blockchain to spread operations across thousands of nodes globally. The platform argues that user experience is 100% fair since each transaction and gaming event can be verified on the blockchain.
By utilizing smart contracts, CasinoFair also states that funds are protected and payouts are guaranteed. CasinoFair issues “FUN tokens,” which are the platform’s native cryptocurrency ( casino chips ). According to a blog post, the platform hit 75,000 users in February of this year. Among many promotions, CasinoFair currently offers a 75% match on deposits up to 1 Bitcoin. Also, new users receive a welcome bonus of 5,000 Fun Tokens.
CryptoThrills is another crypto casino that operates around Bitcoin, Bitcoin Cash, and Litecoin. By leveraging digital assets, CryptoThrills can provide users with anonymity, fast transaction speeds, and low fees. Withdrawals on the platform take no longer than 10 minutes. Due to working with leading software providers, the games provide rich graphics, cool animations, and a great mobile experience. Among many promotions, the platform offers an interesting feature called “monthly payback.” According to CryptoThrills, users could be eligible for 20% back on losses every month.
Betcoin.ag offers a casino and sportsbook that accepts Bitcoin and other cryptocurrencies. Users interact with the platform with digital assets such as Bitcoin Cash, Bitcoin SV, Ethereum, Ethereum Classic, Litecoin, DASH, XRP, and Monero. Betcoin.ag offers 3D cinematic animation and has a collection of more than 1,000 games. Favorite games on the platform include Blackjack, Baccarat, Roulette, Video Poker, Keno, and others. Betcoin.ag currently offers a welcome bonus of 100% up to 1 BTC and 1 free spin. The casino also offers bonuses on second and third deposits as well.
BetChain is a casino that was established in 2013. The BetChain platform offers a modern experience that supports top digital assets such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, and Tether. For users that prefer to transact in fiat currencies, BetChain provides support for currencies such as the Euro, Australian Dollar, Norwegian Krone, Canadian Dollar, and many more. BetChain offers 2,300+ games such as Bitcoin roulette, Bitcoin slots, Bitcoin 3D slots, Bitcoin poker, and much more. Betchain offers a 100% welcome bonus of up to 1 BTC. Also, first-time depositors get 200 free spins. Similar to the other casinos, BetChain offers bonuses on second and third deposits as well.
CryptoWild Casino was launched in 2017 and provides more than 1,000 games. Based on reviews, it seems like users really value the modern and intuitive interface. Deposits and withdrawals on the platform can be conducted in cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dogecoin, and Tether. Just like other casinos, the use of digital assets results in extremely quick processing times. It is important to note that CryptoWild does not accept fiat currencies. Compared to competitors, CryptoWild offers some impressive welcome bonuses. For a first time deposit, CryptoWild offers 150% up to 1 BTC and 150 free spins. There are more bonuses for second and third deposits as well.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice.