Bitcoin Cash Casinos
Bitcoin Cash in Time
As you can probably guess, Bitcoin Cash is a strand, or an altcoin, of the original Bitcoin cryptocurrency. Unlike its predecessor, this new currency launched in 2017 as an alternative that could support much larger blocks on the blockchain. The reason for the creation of Bitcoin Cash is pretty simple. After the inevitable Bitcoin software upgrade scheduled for 2017, Bitcoin holders had differing opinions on whether the blocks should be kept small or made bigger. Unhappy with the solution to increasing the capacity of the original coin, a group of Bitcoin experts came up with a solution to increase the block size limit through a hard fork.
When Bitcoin Cash launched, all Bitcoin holders became the lucky owners of an equal amount of Bitcoin Cash! The coin started trading at $240, while its predecessor traded at about $2,700 at the time. The cryptocurrency has had highs and lows over the years, but as the first-ever Bitcoin fork, it sees tons of action! It reached a record high of $4,355 on the 20th December of 2017, which later dropped drastically.
Can I Use Bitcoin Cash at Online Casinos?
Since it’s a Bitcoin fork, Bitcoin Cash is pretty popular in the online gambling space. Tons of crypto casinos support the currency, and you might even be privy to a few special perks in some of them! Still, it’s good to keep in mind that not all crypto casinos are a good option. Some of these sites are outright scams, while others are known to operate in weird grey areas. When searching for a crypto casino, make sure it’s well-established and reputable. You can do so by checking its licenses and reading through online reviews.
Before you proceed to this step, you’ll need to obtain some Bitcoin Cash of your own! If you’re one of the lucky Bitcoin holders that got a matched amount of BCH upon release, you’re more than good to go. If you aren’t, you’ll need to visit one of the popular crypto exchanges to trade in some fiat currency for it. Bitcoin Cash is pretty well-known globally. As a result, it’s a viable trading option on exchanges like Binance, OKX, BitCoke, Kraken, and more!
After you officially become a currency holder, you can proceed to the depositing process at a supported online casino. Things get much easier from here on out. To start transacting, all you need to do is visit the operator’s cashier section and click on the Bitcoin Cash option for depositing or withdrawing. With both options, you’ll be given detailed instructions on how to proceed. Usually, the requirements involve entering a QR Code and crypto address into your crypto wallet to complete the process. If you’re unsure of what to do at any point, you can contact the casino’s Customer Support Team for help.
Is It Legal to Gamble Online Using Bitcoin Cash?
There are many things the world doesn’t agree on, and cryptocurrency is one of them. Since Bitcoin’s release in 2009, countries worldwide have approached the topic differently. Some are pretty accepting of it, some seem not to care about it, and some are outright against it! Because of the discourse surrounding crypto, it’s best to look at the laws and regulations surrounding crypto gambling on a country-to-country basis. At the moment, it’s the best way to get a clearer idea of what is and isn’t allowed.
Places like the US are interesting cases to explore when crypto gambling is in question. In general, crypto gambling isn’t prohibited. Most players should have no issue taking their Bitcoin Cash to a fun online casino and spending it on a variety of fun games! Of course, things get a bit more complicated when you factor in the differences in crypto and gambling regulations between different US states. These differences might be small, but they can have big implications.
The UK is a great example of a country where crypto gambling comes with a specific set of rules. Gambling is pretty well-regulated in the UK, and that tradition extends to crypto too! Fortunately for players, and unfortunately for operators, the licensing process is a bit more difficult for casinos that accept crypto payments. For instance, they need to disclose fund sources before applying. If the operator fails to meet the requirements at any point, they’ll be denied without hesitation.
An example of two countries on the opposite end of the crypto-friendly spectrum is El Salvador and South Korea. El Salvador has been very receptive to cryptocurrencies from the start. The country recently made Bitcoin legal tender! South Korea is the opposite. Crypto gambling and cryptocurrencies, in general, are prohibited. Of course, this doesn’t do much to stop South Korean crypto fans from purchasing tokens through crypto exchanges.
What are the Pros and Cons of Gambling with Bitcoin Cash?
Bitcoin Cash is an off-shoot of the original Bitcoin cryptocurrency. Because of this, it offers users many of the same pros and cons its predecessor does. In general, the coin has the same perks and downsides that all crypto coins do. While you might be familiar with most of these, you’ll find that Bitcoin Cash also has a few unique perks in specific venues!
The first and most important perk of using crypto for online gambling purposes is anonymity. Unfortunately, the online casino scene is still a hotspot for scams even after decades on the market. In most cases, these scams involve identity theft and theft of personal banking information. With crypto like Bitcoin Cash, the chances of running into these are much slimmer. Since you needn’t share any personal information other than your Bitcoin wallet address, there’s nothing there to take advantage of!
Another perk that strengthens player protection is the transparency of crypto. All crypto transactions are registered on the blockchain ledger. Thanks to this, you’re free to check out the transaction history of many crypto operators to ensure they’re fair. In some cases, you can even use this to avoid crypto-related gambling scams!
On top of safety, Bitcoin Cash provides perks that make for a much better user experience. First, the convenience of using crypto is unrivaled. You can make transactions through a PC or smartphone easily if you have a solid internet connection. Additionally, crypto transactions come with much shorter processing times! Whether you’re depositing or withdrawing, you can expect the process to be near-instant.
You’ll be happy to learn that some casinos offer Bitcoin Cash users exclusive perks. While these are rare, they can be insanely worthwhile! In most cases, these perks are tied to the casino’s Loyalty Program. They come in the form of Free Spins, Cashback, and other bonuses. It’s important to note they also come with a few restrictions. Before opting in for anything, make sure to read the bonus terms & conditions thoroughly.
We’re sure you can probably guess what some of the cons of using cryptocurrencies at online casinos are, as we’ve already mentioned a bit about them. One of the biggest issues players may face with cryptocurrencies is the scams, both in and out of the crypto gambling space. These horrible practices are common on the crypto scene, and what’s worse, they’re mainly targeted at newbies who don’t know any better!
Speaking of newbies, another con of crypto is if you’re not too familiar with the crypto scene, you’ll need to invest tons of time and effort to learn more about it. It might be easier to get into these days, but that doesn’t mean you should skip the basics of crypto and go straight to trading. The knowledge you acquire before your first crypto venture can also help you tell the scams from the real deal!
One more thing you should note is crypto’s volatility. There’s a debate about whether this is a pro or a con, but it can be considered both. The price of most cryptocurrencies tends to fluctuate drastically. If you invest smart and have some luck on your side, you can end up with a massive return! Of course, you can also take huge financial losses if things don’t go your way. There’s always a risk with crypto, so make sure you’re aware of it before you start using it.
Are All Casino Games Crypto-Friendly?
Crypto has made great progress in multiple fields, including online gambling. Unfortunately, this hasn’t been enough for everyone in the industry. Some casino software providers still don’t offer crypto support. Because of this, crypto users are limited in their choice of games. Thankfully, things aren’t too bleak. Many leading game developers are crypto-friendly, so you can easily play some of the most popular titles currently on the market!
To give you an idea of which operators accept crypto payments, we’ll list a few of the best. They include Habanero, Mr Slotty, Vivo Gaming, Spinomenal, Endorphina, BetSoft, and more! With crypto games, your options are limitless. If you’re aiming to try the biggest hits in most casinos, you should go for Fire Bird, Guardians of Valhalla, and Colossal Gems!
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