Bitcoin Casinos are the future of the gambling industry. It all started in the first half of the previous decade when companies who recognized the advantages of Bitcoin - doubled down on the virtual money concept and established their first websites. Today the industry of BTC Casinos is rapidly growing and in some sectors, even overcoming the standard entities of the gambling industry. Out of all of the crucial benefits that Bitcoin Casinos offer to their fanbase, perhaps the most significant is the ability to stay completely anonymous during the gameplay. Thanks to the blockchain technology on which the cryptocurrencies are based on, players are able to keep their identity private, avoiding any instances of unwanted attention or 3rd party interference. This is a very important issue for anyone who enjoys gambling and BTC casinos offer an amazing alternative compared to the competition. Players don’t ever have to provide personal information on the best crypto casino websites.
Main concerns of gamblers about online casinos
There are many concerns when it comes to online casinos. Players usually require certain needs that must be met by the gambling websites. Some of those concerns revolve around many different factors such as the question of fairness, fast withdrawals and the reputation of the online casino. These concerns are always handled better by the Bitcoin Casinos because their payment systems are also based on blockchain technology which can guarantee fairness through the provably fair games. Also, much faster withdrawal and deposit times due to no bank interference. Another thing that BTC Casinos truly shine at is the security and the anonymity of gamblers and this is almost always the main concern of the players that like to gamble online. The privacy of identity is directly correlated to the security and Bitcoin Casinos absolutely guarantee that the players stay anonymous while playing on their websites.
Identity verification in BTC Casinos
Unlike BTC, Classic online casinos always require verification in the form of players providing their personal information. This info includes full name, date of birth, identity number and tons of other personal details that gamblers are usually reluctant to share online. BTC Casinos on the other hand have absolutely no need for this information and they emphasize total anonymity for the players. The only thing that is usually required to register and start playing on the Bitcoin Casino Website is the username, password for the account and email address to finalize the registration. That’s all it takes to register and play on the best Bitcoin Casinos on the internet, because blockchain systems and cryptocurrencies simply don’t require anything else.
In what cases may Bitcoin Casino ask for verification
In some cases, most of the Bitcoin Casinos will ask for phone number verification. This is absolutely the last bit of the information that top Crypto Casinos usually ask. This is due to several beneficial reasons. First reason contains the 2FA authentication capabilities. Thanks to the phone verification, the casino can add another layer of an unbreakable security to the player accounts registered on the website. Another reason is due to the specific characteristics of some promotional content. Through the phone number it's easier to notify the players about active and upcoming bonuses and promotions.
Most anonymous cryptocurrency for gambling
All cryptocurrencies are highly anonymous by default but there is one cryptocurrency that stands out from the rest when it comes to the maximum level of privacy, that entity is Monero. This is a relatively new virtual currency that has increased traction in the world of Bitcoin Casinos because of its advanced anonymity capabilities. The reason behind it is that Monero transactions are generally larger than BTC and take more kB to process. They require higher “mixin”, which ensures a much higher level of privacy. These processes produce outputs that serve as decoys when the currency makes various records to its blockchain. Monero has no fixed block size limit thus it significantly differs to the process of Bitcoin making it even more anonymous and simply impossible to track.