The number of Bitcoin casinos doing the rounds online has exploded over the past few years. Bitcoin blackjack is proving particularly popular, which for the most part works in the same way as conventional blackjack.
In fact, there’s little difference between the online casino experience in general. You’re simply using a different payment method and form of currency, in order to gain access to what’s on offer.
Fair enough, but why is Bitcoin gambling proving so popular? Why are so many cryptocurrency casinos opening their doors, and what do those playing with Bitcoin expect to get out of the deal?
How Does Bitcoin Blackjack Work?
Bitcoin blackjack is practically identical to regular blackjack, in terms of the mechanics of the game. However, signing up and getting started means first opening a cryptocurrency wallet and purchasing your BTC.
The whole thing can be done in a matter of minutes using an online Bitcoin exchange, where you buy BTC in the same way you would buy any other foreign currency. Once the BTC is in your wallet, you can deposit funds into your cryptocurrency casino account in the usual way.
Limitations and Restrictions
At this point, it’s important to be mindful of the various limitations and restrictions that often apply when gambling with cryptocurrency. For the most part, you’ll find limitations in place with regard to the minimum BTC amount you can credit into your account, along with the minimum withdrawal requirement.
Something that should be considered carefully, in accordance with your preferred gambling style and budget.
Though once again, the banking process takes place in exactly the same way as normal. All with the added bonus of near-instantaneous withdrawals and greater anonymity.
Why Is Bitcoin Blackjack So Popular?
The skyrocketing popularity of Bitcoin blackjack can be attributed to a handful of things:
1. Faster and More Secure Banking
As already touched upon, many cryptocurrency gamblers are drawn by the prospect of faster and more secure banking. Cryptocurrency transactions take place directly between the customer and the merchant. This makes the whole thing much faster and safer, while preserving the anonymity of the customer.
2. No Third Parties or Charges
As the transaction is direct, there are none of the delays or potential costs associated with middlemen involvement. Rather than paying the transaction fees of services like PayPal or Skrill, all transactions are processed instantaneously and for free. Depending on how much you intend to gamble, this could add up to considerable savings over time.
3. Exclusive Cryptocurrency Bonuses
Another huge point of appeal is gaining access to exclusive introductory incentives. Casinos that support cryptocurrency payments often hand out generous bonuses exclusively to those who pay using Bitcoin. Terms and conditions apply in the normal way, but some of the crypto bonuses available are better than those on offer to regular players.
4. A Volatile Currency
The notorious volatility of Bitcoin has made it a hit among investors with an elevated risk appetite. This iconic form of virtual currency has made a lot of people ridiculously rich within a seriously short space of time. The chance of heavy losses is just as high, but the potential to turn just a few coins into a small personal fortune often proves irresistible.
On that note, it’s the volatility of Bitcoin that makes it so popular among investors and online gamblers in general. Investing in cryptocurrency is a form of gambling in its own right, where risks are taken with the aim of generating profits. Which subsequently means that when you gamble with Bitcoin, you’re gambling with a separate form of gambling.
Plus, there are those who believe that cryptocurrency represents the future of all conventional currency. Therefore, to get in at ground-level simply makes sense – particularly if the value of any given crypto coin is set to rise over the coming years.
The Downsides to BTC Blackjack
As for whether Bitcoin blackjack is worth getting into, it’s purely a judgment call. It depends entirely on your risk appetite, how much money you can afford to put on the line and how much research you’re willing to perform.
Making money by buying and selling cryptocurrency is perfectly possible. It’s also possible to generate massive profits by buying and selling the right coins at the right time. But as it’s completely impossible to accurately predict the future performance of any currency, there are huge risks involved with cryptocurrency investments.
Particularly given how assets like Bitcoin are more volatile than just about anything else on Earth.
Along with presenting a risk of potential losses, betting with Bitcoin means restricting yourself exclusively to just a tiny fraction of the online casinos available. Plenty of places accept Bitcoin, but around 99% of online casinos in general only accept conventional forms of currency. Not the end of the world, but you’re still narrowing your options significantly.
In Summary – Worth a Shot or Not?
Ultimately, it’s entirely up to you whether to give Bitcoin blackjack a shot. The game itself is no different to regular blackjack – the only difference is the currency you play with.
Whether getting into Bitcoin gaming is a good idea is a case of figuring out whether or not Bitcoin investments are for you. When playing with cryptocurrency, you’re taking an additional risk and therefore gambling twice.
Gambling in a way that could work out in your favour, all quite the contrary.
So as is always the case, you need to carefully consider your budget, your capacity to cope with losses and your risk appetite. In this instance, combined with your willingness to research the cryptocurrency market and decide when to make your move.
While at it, you’ll also want to consider the rest of the crypto coins available at the time. Bitcoin might be the world’s most iconic and recognisable form of cryptocurrency, but it’s far from the only option on the table.
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