A Guide to Blockchain Casinos

Blockchain technology has gained traction across several industries, including the gambling market. With transparency, fairness, and security guaranteed, blockchain casinos have become a new and modern alternative for players to enjoy preferred casino games online. 

As per most gamers’ preference, people should choose blockchain casino because it offers genuine fun and provably fair gaming due to their transparency and security.

In this article, we will go into blockchain casinos in this post, outlining its advantages, offering a step-by-step tutorial on how to play, and presenting a list of the top blockchain for 2023.

Blockchain Casinos: An In-Depth Guide

Blockchain gambling offers many advantages over traditional online casinos. 

• It increases security by eliminating the need for members to pledge their assets to a central entity. 
• Blockchain transactions are transparent and unchangeable, giving players confidence.
• Blockchain gaming allows instant transactions, eliminating long processing times. Using cryptocurrency as a payment method further assures anonymity.
• Blockchain casinos frequently provide fair games, allowing players to check the fairness of outcomes independently. 

While Bitcoin casinos only accept cryptocurrencies, blockchain casinos employ the underlying technology to improve the gambling experience, taking a wider variety of digital currencies.

How to Play in Blockchain Casinos

Playing in a blockchain casino is relatively straightforward. Here’s a step-by-step guide to get you started:

1. Create a crypto wallet

Create a Bitcoin wallet to store your digital assets safely. Other wallet choices are accessible online and offline, with varying security and convenience.

Here’s how to make a cryptocurrency wallet:

Step 1: Choosing the Preferred Wallet Type

Understanding the many types of crypto wallets available before making one is critical. Choose one based on your specifications and preferences to avoid confusion and loss.

1. Software Wallet: These are usually installed on your computer or phone.

• Exodus, Electrum, MyEtherWallet, and Apple Wallet.

2. Web Wallet: These are accessible via a web browser and are hosted on a third-party server.

• MetaMask and MyCrypto

3. Hardware Wallet: These devices protect your private keys by storing them offline.

• Trezor, Ledger Nano S.

4. Paper Wallet: These wallets require you to generate and print your private keys on a physical medium, such as paper.

• Bitaddress.org and WalletGenerator.net

Why is it important to know your crypto wallet?

1. Security – You should set up a secure password, enable 2FA, and use other wallet security features to avoid getting hacked.
2. Fund Management – Knowing your wallet helps you track the funds and balance, transaction history, and all transactions.
3. Recovery – In case of account malfunction, loss of access, and accidental deletion, you can quickly recover it through backups and recovery protocols.
4. Tax and Legal Compliance – Cryptocurrency transactions may have tax ramifications, so keep track of dates, amounts, and counterparties. Knowing this helps you record crypto-related activities accurately and comply with legislation.
5. Independence and Self-Sovereignity – Decentralized cryptocurrencies give people financial freedom helping them to avoid intermediaries.
6. New Possibilities – New options and features appear as crypto evolves. Crypto wallets use many services and apps, including staking, lending, and other activities that may increase income.

Step 2: Download and set up wallet software

After choosing your preferred wallet, go to their website and download the wallet software or firmware. Then, double-check the website URL and verify its authenticity to ensure you’re downloading from a genuine source. Here’s how to confirm:

1. Check for licensing and regulation 
2. Research for the site’s reputation and existing reviews
3. Verify the security measures
4. Review the payment and withdrawal options
5. Research the game providers

Step 3: Configure your wallet

After installing the wallet software, launch the app and follow the setup steps. The particular stages will differ based on your selected wallet, but generally, you will:

1. Make a new wallet or choose the option to create a new account.
2. Produce a new wallet address. This address is where the funds are received.
3. Create a strong password or passcode to protect your wallet. Make sure it’s unique.
4. Make a note of the wallet’s recovery seed phrase.
5. Finally, store it safely offline, preferably on a physical media such as paper.

Step 4: Put money in your wallet

To use it, you must first fund it. Then, depending on the wallet, you can:

1. Purchase cryptocurrencies through a fiat-to-crypto exchange and deposit them in your wallet; or
2. Use your wallet address to receive cryptocurrency from another wallet or exchange.

Step 5: Make a backup of your wallet

Regularly backing up your wallet is critical for protecting against data loss or theft. Most wallets provide a backup option to export the private keys or recovery seed phrases from your wallet.

Step 6: Enable Two-Factor Authentication (2FA)

Enable 2FA whenever possible to improve the security of your wallet. The step adds a layer of protection by requiring a second verification step, typically via mobile SMS or call.

Step 7: Stay secure and updated

To keep your wallet secure, you must: 

1. Keep your wallet software current by regularly installing the latest updates and patches.
2. Be wary of phishing and only use official sources to access your wallet.
3. Protect your devices with anti-malware and antivirus apps and software.
4. Exercise caution when disclosing wallet-related information online, and keep your devices safe.

2. Select a Blockchain Casino

Choose a reliable blockchain casino, or research extensively to find a platform that meets your needs. Check if the casino is licensed, has diverse games, and accepts your preferred digital money.

3. Purchase Digital Currency

Get the preferred digital currency for your gambling pursuits after you have a wallet. Blockchain casinos increasingly accept Bitcoin, Ethereum, and other major cryptocurrencies.

4. Make a Deposit and Choose a Game

Deposit funds using the cryptocurrency from your wallet. You can explore many gambling games after your money has been validated on the blockchain.

From basic decentralized gambling games like dice rolls to slots and live dealer options, blockchain casinos have games to suit players’ preferences.

Features of Blockchain Casinos

Blockchain technology has transformed several businesses, including the gaming industry. Blockchain casinos have various distinguishing characteristics that set them apart from regular online casinos. The following are key aspects of blockchain casinos:

1. Decentralized Casinos

Blockchain casino’s decentralized nature is one of its primary characteristics. Traditional online casinos organize and oversee the games, transactions, and player monies through a centralized authority. 

Blockchain gambling operates on a decentralized network over which no single party has complete control. This decentralization ensures transparency, fairness, and security because the operations are recorded on a distributed ledger available to all participants.

2. Reduced Fees

Blockchain casinos have the potential to dramatically lower gambling transaction fees. Deposits, withdrawals, and even game transactions are frequently subject to exorbitant fees at traditional online casinos. 

Blockchain technology, on the other hand, enables P2P transactions, removing the need for intermediaries and lowering transaction costs. Players can benefit from lower feed, which means more money for gambling.

3. Faster Withdrawals

Withdrawals from typical online casinos are time-consuming, taking several days or weeks. Blockchain casinos use blockchain technology’s speed and efficiency, allowing for near-instantaneous withdrawals. 

Players may get their profits promptly and conveniently by eliminating intermediaries and centralized processes.

4. Lower Entry Barrier

Blockchain casinos promise to lower the entry barrier for gamers worldwide. Traditional online casinos frequently require players to complete a lengthy registration process, disclose personal information, and sometimes face geographical restrictions. 

In contrast, blockchain casinos allow customers to join using their Bitcoin wallets, ensuring a more streamlined and inclusive experience. This lower entry barrier provides anyone with a capable gadget and internet access to participate in online gaming.

5. Potential For Disruption

Blockchain casinos have the potential to disrupt the existing gambling sector. The decentralized structure of blockchain technology promotes better trust and transparency, solving industry concerns about fairness and security. 

By eliminating the need for intermediaries, blockchain casinos can provide more competitive odds and cheaper fees. This potential has boosted interest in the gambling industry’s exploration of blockchain technology.

6. “The House Always Wins?”

One widely held assumption in the gaming industry is that “the house always wins.” This statement indicates that casinos have an inherent advantage over gamblers in the long run, assuring their profitability. 

However, blockchain casinos offer transparent and fair games. Players can trust casinos more because smart contracts and cryptography can verify game fairness. The house still has an edge, but players may trust the games’ fairness.

Best Blockchain Casinos of 2023

Several platforms stand out for their remarkable features, game diversity, and player satisfaction when selecting a reliable blockchain casino. Check our list below:

Stake Casino

Stake Casino offers diverse games, including Plink Bitcoin. Stake Casino provides an immersive and gratifying gambling experience with a user-friendly design, provably fair games, and significant promotions.

Pros

Large game selection, fair system, and good promotions.

Cons

There are a few gaming options and limited customer support.

BC.Game Casino

They offer diverse games, including Plink Bitcoin. Stake Casino provides an immersive and gratifying gambling experience with a user-friendly design, provably fair games, and significant promotions.

Pros

Unique games, simple UI, and different bonuses such as their generous recharge bonus.

Cons

Customer service is not readily available for queries mostly.

Rocketpot

The site is a feature-rich blockchain casino with many games, including Plinko Bitcoin. Rocketpot offers a flawless gambling experience with its clean UI design, rapid withdrawals, and outstanding customer service.  

Pros

It has a large gaming selection, quick withdrawals, and responsive customer service.

Cons

Limited availability in some countries.

Cloudbet

This well-known casino website combines a fantastic gaming selection with a user-friendly UI. It provides many casino games, including Plinko Bitcoin, and a comprehensive sportsbook for sports betting fans.

Pros

The site has extensive gaming choices for every type of gamer, with sportsbook integration and a trusted reputation.

Cons

Cloudbet is not available in some countries.

Metaspins

Metaspins is unique with its modern and slick gaming platform design. It provides a great gaming experience for gamers by offering various games, including Plinko Bitcoin, and significant bonuses.

Pros

It has a modern user interface, an extensive game collection, and enticing incentives.

Cons

A limited number of cryptocurrencies are only accepted.

Duelbits

Its creative and interactive gameplay experience distinguishes it from other websites. Duelbits, like popular online casino games, offers distinct game modes that let people compete against one another. 

Pros

Interactive gaming experience, competitive game styles, and appealing promotions are available.

Cons

Customer support is rarely available.

Thunderpick

Thunderpick is a famous online casino platform that offers various casino games, sports betting, and esports betting. It supports multiple cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. 

Pros

Extensive game selection, supports multiple cryptocurrencies, user-friendly interface.

Cons

It has limited promotions and bonuses offered to players.

Crashino

This blockchain-based casino concentrates on a single game called “Crash.” Players place bets and wait for a multiplier to increase until they decide to cash out, but if they wait too long, the multiplier will crash, and they will lose their stake.

Pros

Unique and offers new gaming concepts, a provably fair system that accepts numerous cryptocurrencies.

Cons

Limited game selection, and it needs classic casino game improvements.

Vave Casino

Vave Casino is a platform that provides various casino games, such as poker, slots, and live dealer games. The site is well-known for its sleek and modern design, smooth user experience, and quick transactions.

Pros

It offers a wide selection of casino games with appealing designs and fast payouts.

Cons

Limited promotions and bonuses.

Bets.io

This sports betting platform provides a wide range of gaming possibilities. It has many casino games, live dealer games, and sports betting options. In addition, the website accepts popular cryptocurrencies and has an easy-to-use interface.

Pros

Bets.io offers various gaming alternatives, live dealer games, and support for prominent cryptocurrencies.

Cons

Promotions and bonuses are limited.

Bitsler

A popular gaming site noted for its user-friendly layout. It provides a variety of casino games, such as dice, roulette, and slots, as well as an active community chat function.

Bitsler also offers provably fair gameplay.

Pros

Simple user interface, active community, and proven fair gaming.

Cons

Limited game selection as compared to other platforms.

JustBit

This website offers a fair and transparent gambling experience. It has many casino games, such as poker, roulette, slot, table games, and live dealer games. The website accepts a variety of cryptocurrencies and places emphasis on privacy and security.

Pros

JustBit has a good reputation and ensures players a safe gameplay experience.

Cons

It lacks a welcome bonus package for new players. 

TrueFlip

TrueFlip is a lottery platform that integrates traditional and blockchain gambling rules. It provides various casino games such as slots, table games, and popular blockchain-based lottery.

Pros

It offers unique lottery features, Provably Fair gaming, and compatibility for different cryptocurrencies.

Cons

The game selection is limited.

BitCoin.com Games

This platform is dedicated to providing a smooth and user-friendly gaming experience. The website offers many casino games, such as slots, poker, roulettes, table games, and live dealer games. 

Pros

Simple UI, large game selection, and quick transfers. 

Cons

There is only limited cryptocurrency support service.

BitStarz

BitStarz offers various casino games, such as slots, table games, and live dealer games. The website accepts many forms of cryptocurrencies and offers exceptional customer service. 

Pros

It offers a selection of games for all gamers, multiple coin support, and promos. BitStarz also provides many promotions and bonuses to both new and returning customers. 

Cons

Country limitations

Final Words

The future of blockchain casinos is bright as blockchain technology evolves and gains traction. However, it is critical to recognize the challenges and constraints of this emerging industry. 

Players can make informed judgments and navigate the changing terrain of blockchain casinos by understanding the underlying technology, its benefits, and the present condition of the industry.