Bitcoin Casino

Gambling Online With a Digital Currency  

Crypto-based gambling is revolutionizing the concept of online gambling worldwide. Cryptocurrencies are fast and highly secure owing to blockchain-backed encryptions, no double entry errors, and many other benefits, as we shall put down in this article. Many gamers nowadays are obsessed with finding a proper bitcoin gaming site.

Beginners may wonder what these digital currencies are. However, experienced cryptocurrency users familiar with digital currencies clearly understand what they are and what benefits they offer. As such, cryptocurrency refers to a virtual currency held as a record on a blockchain database. The most famous examples are Bitcoin, Ethereum, Tether, and Litecoin. Unlike fiat currencies that rely on centralized monetary systems, cryptocurrencies are peer-to-peer with no intermediary.

What is Bitcoin and How Does It Work

Bitcoin is the pioneer cryptocurrency that Satoshi Nakamoto launched in 2009. To date, Satoshi remains anonymous, but insiders claim the pseudo name could be referring to a group of inventors keen on changing the classic 'currency concept.'

Bitcoin is a digital currency that you can buy, sell and exchange through a peer-to-peer network, which is a provably fair method. On its launch, Satoshi described Bitcoin as an electronic means of payment based on cryptographic proof instead of trust in conventional currencies.

Like other cryptos, Bitcoin transactions pass through a public ledger system accessible to all parties; thus, issues of double entry or reversals do not arise as every party in the system must give the go-ahead for the bitcoins to change hands.

Critical to understanding how Bitcoins work is the concept of blockchain. A blockchain contains blocks of data connected. Each block has information concerning all transactions, the value, seller, buyer, and unique identifier codes for each exchange. Entries are arranged in chronological order creating a chain of digital blocks. After every transaction, everyone on the system can view it, thus acting as a public/open ledger of crypto transactions.

But before thinking of joining a Bitcoin online casino, you ought to have a Bitcoin wallet. A crypto wallet is a medium of exchange through which gamblers transfer and receive cryptos to and from their best BTC online casino. It usually has two keys; the public key, which acts as the address to receive payments, and a private key, essentially the user's gate pass to make and approve payments.

If you would like to enjoy the convenience of the BTC casino, you can purchase Bitcoin from various legit exchanges. The major ones include Coinbase, Kraken, and Gemini.

Brief Timeline of Bitcoin History

Bitcoin is undoubtedly the most common cryptocurrency to date. Bitcoin's embrace has been surging in the gambling industry and other businesses despite periodic lows experienced in BTC exchanges over time. So, how did bitcoin become popular worldwide with barely a decade in existence? We break down the major developments highlighting its history.

2008. News about Bitcoin - peer-to-peer electronic cash went public. The US was experiencing a heightening distrust of banks and related financial institutions as another Great Depression eroded their dollar deposits. Satoshi Nakamoto issued a White Paper that sought to address the shortcomings of centralized money control systems. It was the first hint of a person-to-person system. Instead of a banking intermediary, the white paper talked of digital signatures, proof-of-work, and the eventual hashing of transactions resulting in a chain.

2009. On January the 3d, the first ever bitcoin blockchain (Genesis Block) was mined. January the 9th marked the first release of the Bitcoin iteration; on January the 12th, the pioneer Bitcoin transaction took place when Nakamoto transferred 10 Bitcoin to Hal Finney, a reputed computer programmer and developer. In October, the New Liberty Standard published the first Bitcoin exchange rate of 1$, equal to 1,309.03 BTC.  

2010. It was the year when Bitcoin broke the penny value for the first time. It all began with Laszlo Hanyecz, a Florida programmer sending 10,000 BTC to a London Pizza seller for two Pizzas worth $25 each. It was when people began to understand the potential of virtual currencies. Bitcoin Market emerged in February, Mt Gox in July, and the Slush mining pool later this year. By November, one Bitcoin was equal to $1.

2011. The value of Bitcoin remained steady against the dollar, attracting the attention of major publications like Time Magazine.

2012. It was a choppy year for Bitcoin as its value steadily rose. In April, its value crossed the $100 mark.

2013. Despite the market fluctuations, the Bitcoin wallet became the most popular crypto wallet after surpassing the $1,000 mark per unit.

2017. The Bitcoin value regained momentum; in June, its value compared to the dollar was $3,000.

Bitcoin today. Various factors continue to influence the price of Bitcoin. Although it has been on a downward spiral for some time, its value remains over $24K.

How to Stay Anonymous When Using Bitcoin

The advantage of BTC gambling is that you can mask your identity and go about your businesses anonymously. Essentially, the public ledger keeps the records of every Bitcoin transaction. The ledger, however, does not keep the parties' names. Instead, it only keeps the wallet details of the sender and receiver, amount, dates, and time.

Parties on the blockchain can see the various address details, but it is relatively hard to pin the address to an identifiable person unless using an IP address. Even in the latter, an IP is not taken as personally identifiable information as it only identifies the device used rather than the person.

While this is the general concept of anonymized transactions in Bitcoin, there are ways to remain completely anonymous.

Disguise your IP Address  

Disguising your IP address can help gamers increase their privacy and security. Typically Bitcoin transactions are P2P. Therefore, they are trackable alongside their associated IP addresses. It follows that Full-Node clients are responsible for processing all transactions; thus, locating the actual source of the transaction is hard.

Chances are high that every node might be confused as the starting point. You can use Tor Network, which helps you browse the internet anonymously as it does not reveal your IP address on your search destination.

Use Different addresses for Different Transactions

Ensure to process every transaction with a different wallet address if you want to enhance your anonymity. Thus, it is advisable for a casino player or any Bitcoin user to leverage HD wallets where possible. With an HD Bitcoin wallet, you can link virtually an unlimited number of addresses to a single private key.

Avoid Hosted Wallets and SPVs  

Simplified Payment Verification (SPV) does not have the capability of storing Block chains locally. In contrast, they send requests to a single SPV server for transactions under your wallet address. Their users might laud them for efficiency and speed of transactions because you do not have to parse the local blockchain. However, SPV wallets can reveal your address to any connected SPV servers.

Also, Hosted Wallets, like the ones managed by Coinbase, a third party, can compromise your anonymity. All your private and public keys are kept on the third-party servers, and their operators can quickly note the address you use. 

Pros and Cons of Using Bitcoin with Online Casino  

You stand to benefit a lot when you play casino with Bitcoin at our site. We briefly highlight below some of the advantages and shortcomings.

Pros

Bitcoin payments are anonymous and pass through encrypted and secure systems. While full-node parties within the blockchain must give credence to your transactions, they don't know your wallet details. All they have is the IP address which can only help trace the device. The IP address does not qualify as Personally Identifiable Information (PII).

Using Bitcoins at our casino, you can significantly increase your limits. It is because all the transactions pass through a decentralized system; hence, no centralized regulation to red flag a transaction arbitrarily. We are a legit casino that takes Bitcoin, so our players enjoy larger cryptocurrency deposit limits; our players can withdraw at least $20 with no maximum at all!  

A legit Bitcoin casino processes deposits and withdrawals relatively faster. At Red Dog Casino, undoubtedly one of the best Bitcoin online casinos, the processing of Bitcoin deposits is instant. Cashing out the Bitcoin takes only 1-2 days, while other cashout options, such as bank wires or credit cards, might take up to 4-5 days.  

Cons

Unpredictable value of Bitcoins and other cryptos. The crypto market is very volatile; storing much of your gambling bankroll in Bitcoins is unwise. The value can rise and fall suddenly with no imminent prior indications or signals.

Irreversible transaction. Gamers or crypto users are advised to exercise caution when using them as their sole payment option. You cannot reverse the transaction in case something goes wrong. Likewise, getting your value back might be problematic when you deposit to the wrong account. In this aspect, traditional currency is still more reliable.  

Bitcoin Casino Games  

The ultimate motivation to register with a real money Bitcoin casino, or even casinos that accept fiat currencies, is to enjoy your favorite games. However, the convergence of convenience and faster processes elevates the Bitcoin casino service to a higher quality level.  

It is not easy to find a proper and reliable bitcoin mobile casino. If you seriously want to gamble in a BTC casino for real money, you must try the Red Dog Casino and check our games library. We cooperate with experienced developers, guaranteeing you a perfect mix of recent releases and classic titles. Here are the various games you can try.

Bitcoin Roulette

An avid Roulette player will ultimately enjoy the gaming journey at Red Dog Casino. When you click the table games sub-section on the games library, the casino amazes you with various Roulette variants amid a stimulating atmosphere and slick virtual tables. However, despite many variants, the gameplay is majorly the same. It involves placing your betting chips on numbers or spots you think the rotating ball will stop once the game is spun.

Bitcoin Slots

Slots take the lion's share of any bitcoin deposit casino games section. They are the most popular type of casino games owing to their rich graphic content, multiple themes, many great providers, and ease of play. Notably, at our casino, you can find a wide range of your favorite titles.  

For easier selection, the casino subdivides the slots section into 3-Reel, 5-Reel, and 6-Reel slots. Book of  Magic: Anubis Trial, American  Wilds, Pandora's  Box, Undersea Treasure, and Wild Joe Gunfighter are some of the most famous titles you can find here.  

Bitcoin Video Poker

If you are a fan of video poker, the good news is that the Red Dog Bitcoin Casino offers plenty of the game's titles. Click on the Video Poker section in the Games drop-down menu to access the various attractive options. You can enjoy Aces and Faces, Joker Poker, Deuces Wild, and some other titles.  

Bitcoin Blackjack

Red Dog Casino is the place where you can enjoy immersive blackjack sessions. Generally, Blackjack is a popular card comparing game with a rich history that dates back centuries. It involves comparing cards against another player or the casino's dealer to determine who gets 21 points or the closest number.  

If you are the Blackjack type of player, we give you a chance to put your skills to the test and enjoy incredible winning streaks on Blackjack and Blackjack Deluxe.

Bitcoin Casino Promotions

We are a great bitcoin casino with welcome bonus. Moreover, we offer compelling promo coupons for cryptocurrencies to appreciate the existing players and attract new ones. One of the most popular offers for all our Bitcoin users is the 275% Cryptocurrency Special Coupon. This exclusive bonus applies to slot games. The coupon is limited to 5 claims upon depositing cryptos equivalent to $10 and complying with 35x wagering requirements.

How to Deposit With Bitcoin at Red Dog Casino

Red Dog Casino is a secure and trustworthy gambling site. We are a reliable casino that accepts Bitcoin. Gamers love the well-labeled interface and dashboard, making it easy to transfer funds regardless of your method. Moreover, if you are lucky to land a winning combo, our Bitcoin withdrawal process is frictionless, promising a payout within 1-2 days.

When depositing, follow the steps below, and your account credit will be instantly refilled:

•    Log into your casino and click on the payment methods or banking section.
•    Select Bitcoin as your preferred method.  
•    Key in the value of Bitcoins you want to transfer into your account. The minimum deposit is $10 and a maximum of $10,000.
•    Use your private Bitcoin wallet key to authorize the payment.  
•    Your deposit is processed instantly.