Have you ever considered the most secure method to store your cryptocurrency? A hardware wallet provides an essential safeguard solution for your cryptocurrency assets by keeping them offline. Unlike hot wallets, which can be susceptible to cyber-attacks, hardware wallets securely contain the private keys you need to gain access to your digital assets.
Some hardware wallets are as small as a thumb drive. They can be connected to your computer or smartphone for transactions or balance reviews.
Built with reinforced security, these wallets adopt robust encryption to resist potential hacking attempts and malicious software. They’re even fortified against physical harm and provide easy backup and recovery options if misplaced or stolen. The decision on the appropriate hardware wallet is crucial.
Read on for guidance in finding the right hardware wallet for you.
What’s a hardware wallet?
A hardware wallet is a physical device designed to store and manage private keys for cryptocurrencies like Bitcoin securely. Unlike software wallets on computers or smartphones, hardware wallets are isolated, dedicated devices providing an extra layer of security against online threats such as hacking, malware, and phishing attacks.
How hardware wallets work
Generating and storing private keys
When you set up a hardware wallet, it generates a random set of cryptographic keys, including a private and corresponding public key. The private key is a long, unique, and secret alphanumeric string that allows you to sign transactions and control access to your funds on the blockchain. The private key is crucial and must be kept secure at all costs.
Secure element
Most hardware wallets use a secure element, a tamper-resistant chip that stores the private keys and performs cryptographic operations. This secure element makes sure the private keys remain inaccessible and safe from external threats.
Offline operation
Hardware wallets operate offline, meaning they’re not directly connected to the internet during normal use. This isolation reduces the chances of unauthorized access and prevents potential attacks from online threats.
Transaction signing
When you want to make a cryptocurrency transaction, the hardware wallet connects to a computer or a mobile device. The transaction details are sent to the hardware wallet, securely signed with the private key. The signed transaction is then sent back to the computer or device for broadcasting to the blockchain network.
The importance of private keys
Private keys are the backbone of cryptocurrency security. They provide the necessary proof that you are the rightful owner of the funds stored on the blockchain. Owning the private key associated with a particular cryptocurrency address means controlling the funds linked to that address. Losing the private key could result in permanent loss of access to those funds, as there’s no central authority to retrieve them.
Example: Using a hardware wallet to keep Bitcoin safe
Let’s say you want to store your Bitcoin securely using a hardware wallet.
Purchase a hardware wallet
Choose a reputable hardware wallet from well-known manufacturers like Ledger, Trezor, or KeepKey. Purchase the device from an authorized retailer to make sure it hasn’t been tampered with.
Set up the hardware wallet
Follow the manufacturer’s instructions to set up the hardware wallet. During this process, the device will generate a new private key that only you will know.
Backup the recovery seed
Hardware wallets often generate a recovery seed — a list of words that can be used to restore access to the wallet in case the device is lost or damaged. It’s essential to write down this seed on a piece of paper, and keep it in a safe and separate location from the hardware wallet itself.
Transfer Bitcoin to the hardware wallet
Send your Bitcoin from your exchange or software wallet to the public address provided by your hardware wallet. This way, the Bitcoin is securely stored in the hardware wallet’s address, protected by the private key residing on the device.
Secure storage
Store your hardware wallet in a safe place, such as a fireproof safe or a secure location only known to you. Keep it away from potential hazards like water or extreme temperatures.
Transaction signing
When you want to spend or transfer your Bitcoin, connect the hardware wallet to a computer or mobile device, authorize the transaction on the hardware wallet using your private key, and then broadcast the signed transaction to the Bitcoin network.
By using a hardware wallet and following these steps, you can significantly reduce the risk of your Bitcoin being compromised by hackers or malware, making sure that your funds remain safe and under your control.
Remember, the security of your hardware wallet is only as strong as your protection of the private key and recovery seed. Always prioritize their safety and avoid sharing them with anyone.
Why are hardware wallets important?
With hardware wallets playing a pivotal role in the secure storage of cryptocurrencies, they have several security advantages over other types of wallets. Let’s explore them.
Offline storage
Hardware wallets store private keys offline in “cold storage,” protecting them from online threats such as hacking or malware.
Physical security
Many hardware wallets require physical interaction, like pressing a button, to confirm transactions. This makes remote hacking nearly impossible.
Immunity to computer vulnerabilities
Your private keys remain secure within the hardware wallet even if your computer is infected with malware or compromised.
PIN protection
Hardware wallets often have PIN protection, adding an additional layer of security to prevent unauthorized access.
Recovery options
If a hardware wallet is lost or stolen, assets can be recovered using a backup seed phrase, which is typically a 12 to 24-word sentence created during the wallet setup.
Encrypted private keys
The private keys stored in the hardware wallet are often encrypted, providing an extra layer of security.
Limited attack surface
These wallets are typically simple devices with the sole function of storing and signing transactions. However, they have a limited attack surface compared to software wallets or exchanges.
Cold vs. hot wallets
“Cold storage” refers to an offline mode of storing these digital assets. It’s essentially the practice of keeping a reserve of cryptocurrencies in a place that’s not connected to the internet, such as on a hardware or paper wallet.
The primary purpose of this practice is to protect these assets from cyber threats, such as theft and hacking. This makes cold storage one of the safest ways to store cryptocurrencies as it greatly reduces the risk of digital attacks that are often associated with internet-connected storage options.
A “hot wallet” is a digital wallet connected to the internet. These wallets provide greater convenience for frequent trading and transactions. However, their internet-connected nature makes them more susceptible to hacking attempts and other online vulnerabilities.
Opting for cold storage methods is generally recommended if you hold a substantial amount of cryptocurrencies and don’t need to access them frequently. This way, you can guarantee better security and peace of mind for your digital assets.
What’s the difference between hot wallets and hardware wallets?
Let’s review the difference between a hot wallet and a hardware wallet, which basically boils down to an internet connection. Depending on the type of wallet you’re looking for, they both provide a valuable purpose. However, you should also be aware of their limitations.
Hot wallets
A hot wallet is a digital wallet connected to the internet. These wallets provide greater convenience for frequent trading and transactions of digital assets.
Pros:
- Easy to use and manage
- Convenient for regular transactions, providing quick access to funds
- Often free and support multiple types of cryptocurrencies
- Integrated features such as direct trading on crypto exchanges
Cons:
- Vulnerable to online threats, including hacking and phishing.
- Dependency on third-party services that can be compromised or go out of business.
- Not ideal for storing large amounts of cryptocurrency due to security risks.
Pros:
- Provides the highest level of security among wallet types, keeping private keys offline
- Immune to online threats and attacks
- Ideal for storing large amounts of cryptocurrency for the long term
Cons:
- Less convenient for frequent transactions as it requires physical access to the device
- Usually not free, with the cost depending on the brand and features
- The risk of loss or damage to the physical device could lead to the loss of assets if not correctly backed up
- It can be less user-friendly than hot wallets, especially for beginners in cryptocurrency
What are the best hardware wallets in 2024?
Keystone Wallet
Keystone is a QR-code hardware wallet isolated from the internet, which helps reduce the opportunities for errors. Keystone is compatible with MetaMask (Extension and Mobile), OKX (Extension and Mobile), and other leading software wallets like Solflare, Sender, Fewcha, and more.
It supports BTC and other EVM-compatible chains, as well as non-evm chains such as Cosmos, Aptos, Near, Sui, Polkadot, etc. Keystone Wallet has a 4-inch touch screen, open-source product code, and support for PSBT multi-signature, which makes it easy to use and protects digital assets. Using a cold-end (hardware wallet) and a hot-end (smartphone) dramatically simplifies the operation process while protecting the security of digital assets.
It may be expensive for new traders, and because of its dedicated community base, it often sells out and isn’t always accessible
Ledger Nano X
The Ledger Nano X boasts Bluetooth, USB-C capabilities, and a rechargeable battery. The Nano X supports 1800 digital assets, and can store up to 100 applications, including Bitcoin and Ethereum. Nano X’s Bluetooth is only compatible with its mobile app, not desktop.
Despite common misconceptions, the Ledger Nano X doesn’t provide better security than the Nano S. Both hardware wallets use the same security chip, require a PIN code for access, and offer a 24-word recovery phrase for backup. The main difference lies in the Ledger Nano X’s added Bluetooth functionality and expanded application storage capacity, setting it apart from the Nano S. One of the drawbacks is that Nano X doesn’t offer a touch screen, which some users would prefer.
Ledger asserts that its hardware wallets stand out because they uniquely combine a Secure Element with a custom OS. This innovative framework effectively isolates crypto apps, significantly mitigating the risk of cyber attacks.
Trezor Model T
The Trezor Model T is an ideal hardware wallet for beginners. Its straightforward setup, intuitive touchscreen, and user-friendly interface make it easy to use. The Trezor Wallet application lets you purchase and exchange assets and tokens directly, enhancing your crypto management experience.
The Trezor Model T prioritizes security by storing your private keys offline within the device, reducing the risk of compromise. To access the hardware wallet, a PIN code is required, and any changes or transactions must be physically confirmed using the buttons on the device.
Moreover, the Trezor Model T offers an additional security layer, allowing you to create a passphrase. This feature makes a separate account on the wallet where you can store specific assets. Even if someone gains access to your PIN, the assets stored under the passphrase-protected account remain secure and inaccessible.
It’s important to note that the wallet doesn’t work for iOS users and is only supported on the OKX wallet web browser extension. What’s more, the price falls on the expensive side when compared to other hardware wallets.
Ellipal Titan
The Ellipal Titan is an air-gapped cold storage wallet constructed with a metal seal, enhancing its resistance against tampering. Its data transmission relies on QR code scanning, eliminating the need for connection interfaces like USB, Wi-Fi, or Bluetooth, which increases its security. Its operations are enabled by the Ellipal App, making transactions as simple as scanning a few QR codes.
In the event of a successful breach into its physical casing, the device is designed to erase all the saved private keys. Despite this, your assets remain secure and can be retrieved using the recovery seed generated during the device’s initial setup.
The Ellipal Titan is a mobile-focused hardware wallet, so there’s no desktop support. It can hold over 10,000 digital assets, and the team steadily adds new ones weekly.
SecuX V20
The SecuX V20 is a cryptocurrency wallet well suited for individuals requiring management of multiple accounts who prioritize high security. Additionally, its Bluetooth functionality and color touch screen may appeal to tech-savvy users. Despite its features, the SecuX V20 boasts an intuitive interface, allowing even first-time hardware wallet users to get started within minutes.
The Hidden Wallet feature of the SecuX V20 offers a secure and private way to partition your funds. You can establish a hidden wallet in the app that’s separate from your main account, adding an extra layer of security and providing more control over your funds. This functionality removes the need to invest in a secondary hardware wallet, offering cost savings and an extra layer of security.
Some users have flagged it tends to be heavier and bulkier than other wallets on the market.
NGRAVE ZERO
NGRAVE, similar to the Ellipal Titan, is another air-gapped hardware wallet. The term “air-gapped” signifies that the device cannot establish network connections, isolating it from external cyber activities. This separation plays a crucial role in enhancing the wallet’s security, as it creates an impenetrable wall that prevents remote hackers from breaching the device.
Stylistically, the NGRAVE ZERO looks similar to a premium mobile device. With its elegant black casing, it features a color touch screen, combining high-end technology with sophisticated design.
The NGRAVE ZERO device is the world’s first hardware wallet to receive an EAL7 certification. This certification represents the pinnacle of security ratings within the blockchain and financial sectors. In the past, other hardware wallets had experienced security breaches when hackers managed to physically open the devices and use advanced tools to send electrical pulses that extracted data from the chips. In response, NGRAVE designed the ZERO to resist these threats, making its physical structure secure.
The product does fall within the premium price range, and there’s no integration with DeFi protocols.
How to choose the right hardware wallet
A graphic showing six key considerations to help you choose the best hardware wallet
When it’s time to buy your hardware wallet, here are some things you should consider and assess before purchasing.
Safety and security
When shopping for a hardware wallet, make sure it comes with comprehensive safety measures such as PIN codes, passphrase safeguards, is air-gapped, and includes biometric identification. It should also use state-of-the-art encryption to protect the device from hacking and cyber-attacks.
Supported digital assets
Check if the hardware wallet is compatible with the specific digital assets you plan to invest in. Since some wallets may restrict some cryptocurrencies, verifying this information beforehand is essential.
Interoperability
Choose hardware wallets that can integrate with other wallet interfaces. This feature is handy if you interact directly with decentralized finance platforms or NFT applications from the wallet.
Restoration and backup options
Confirm if the hardware wallet offers options for backup and recovery in the event of loss or damage. Carefully follow the manufacturer’s guidelines to back up your private keys and seed phrases securely.
User-friendly interface
Opt for a hardware wallet that offers a straightforward and intuitive user interface. This ensures seamless navigation and smooth transaction processes. An overly complex interface could lead to mistakes that might compromise your cryptocurrencies.
Cost
The price of a hardware wallet should align with your budget and the features it provides. More expensive wallets generally offer superior features and security, but there are also cost-effective options with solid security. Consider the balance between cost and functionality that suits your needs best.
The final word
Hardware wallets provide an essential layer of security for your cryptocurrencies by storing your private keys offline, safe from cyber-attacks. These compact devices connect to your computer or smartphone for transactions and balance checks, encrypting your information to protect against potential hacking attempts. They also offer physical resilience and include easy recovery options, should they be lost or stolen.
When considering a hardware wallet, assessing your personal needs and security is critical. Not all hardware wallets are created equal, and the right choice depends on your circumstances. Factors such as ease of use, cost, company reputation, and additional security features are all important considerations.
Always remember that the ultimate goal is to protect your cryptocurrencies most effectively. Invest some time in research and consider your needs to make sure you choose the most secure and convenient option for your digital assets.
Guide to Bitcoin Casinos: Understanding How They Work
Here, we provide a comprehensive yet beginner-friendly guide to crypto casinos. Read on to understand how Bitcoin casinos work, why they’re gaining massive traction, their pros and cons, the different types of online crypto casinos, how they’re shaping the gaming industry, and essential factors to consider when selecting a platform.
Excerpt: Curious about the buzz around bitcoin casinos? Delve into the world of crypto casinos to understand the ins and outs of how these innovative platforms work, their advantages, and the key considerations to consider while choosing the right online Bitcoin casino for you. Find insights on Bitsler, a leading bitcoin casino , and learn why it stands out in this evolving landscape.
Introduction
As the world continues to embrace an ever-changing digital landscape, the online gambling industry has witnessed a revolutionary shift with the emergence of crypto casinos. These online gaming platforms offer a unique blend of traditional casino games combined with the power of cryptocurrencies, offering you new ways to experience online gambling.
Here, we provide a comprehensive yet beginner-friendly guide to crypto casinos. Read on to understand how Bitcoin casinos work, why they’re gaining massive traction, their pros and cons, the different types of online crypto casinos, how they’re shaping the gaming industry, and essential factors to consider when selecting a platform.
What is a Cryptocurrency?
Before we dive into the intricacies of crypto casinos, it’s crucial to grasp the concept of cryptocurrencies. A cryptocurrency is a digital or virtual form of money that is decentralized and utilizes cryptography for secure transactions, control additional unit creation, and verify transfer transactions.
Bitcoin, the pioneering and most well-known cryptocurrency, paved the way for many other digital currencies, each with its unique features and purposes.
The defining and arguably the most endearing feature of a cryptocurrency is its organic nature. Cryptocurrencies are not issued by any central regulating authority, meaning they are theoretically immune to government interference or other forms of external manipulation.
The decentralized control of each cryptocurrency works through what is known as a distributed ledger technology (DLT), typically a blockchain, which serves as a public transaction database.
What is a Bitcoin Casino?
A bitcoin casino is an online gambling platform that operates exclusively on cryptocurrencies or offers crypto alongside traditional payment methods like Bitcoin, Ethereum, and others.
Unlike conventional online casinos, which primarily accept fiat currencies, Bitcoin casinos allow you to wager, play casino games, and win payouts using cryptocurrencies. These casinos leverage blockchain technology, ensuring transparent and provably fair gaming experiences.
Why is Bitcoin Gambling Becoming So Popular?
The popularity of Bitcoin gambling has surged in recent years, creating a novel intersection between the world of cryptocurrency and online betting. With their decentralized nature and inherent security features, Bitcoin casinos have gained popularity among gamblers seeking enhanced privacy. The unique properties of Bitcoin, such as irreversibility and borderless transactions, have made it an ideal currency for the online gambling industry.
Bitcoin casinos and betting platforms offer a diverse array of games, including traditional casino games like slots, poker, blackjack, and roulette, all accessible with crypto. The elimination of third-party intermediaries and the ability to instantly deposit and withdraw funds eliminates the delays associated with traditional payment processing methods.
Bitcoin gambling transcends geographical boundaries, granting access to players worldwide, regardless of their location’s gambling regulations. This attribute has contributed to its rising popularity, as enthusiasts can enjoy a diverse array of casino games and more without facing restrictive local laws. Additionally, using provably fair algorithms enhances fair gameplay verifiability, which has helped build trust between players and platforms.
About Bitsler
One prominent player in the crypto casino industry is Bitsler. Established in 2015, Bitsler has earned a reputation for being a revolutionary cryptocurrency gambling pioneer. It offers a wide array of games, including exclusive in-house titles, to players across the globe.
With a primary focus on crypto and an innovative approach to Bitcoin gambling, Bitsler has become an ideal choice for casino enthusiasts with an interest in cryptocurrencies. Bitsler has set itself apart by offering a wide range of games, supporting crypto as its payment method, and a user-friendly interface.
Owned and operated by OYINE NV, Bitsler is licensed by the Curacao Government and allows you to bet on a blend of casino, sports betting, and eSports. Bitsler has attracted a global community of players seeking entertainment using crypto.
Why Bitsler is the Best Bitcoin and Crypto Casino
When it comes to the best Bitcoin casino on the market, Bitsler stands out as a frontrunner in the industry. To understand why Bitsler has been such a hit amongst players across the globe, we need to look at its strong suites. Here are some of the features that have helped Bitsler build its reputation as the best online Bitcoin casino and the ultimate destination for Bitcoin gambling enthusiasts:
Huge Variety of Payment Methods
Bitsler takes the hassle out of transactions by providing multiple cryptocurrency payment methods. From popular options like Bitcoin, Ethereum, and Litecoin to coins such as Dash, EOS, and Stellar, Bitsler supports 30+ payment options. This gives you the flexibility to seamlessly deposit and withdraw funds in your preferred crypto.
Bonuses and Promotions
Bitsler strives to give you the ultimate gaming experience that extends beyond the games themselves. Bitsler uses an array of bonuses and promotions to reward both new and loyal players.
From the 100% welcome bonus match of up to $700 that kickstarts your gaming journey to ongoing special promotions that spice up every bet, Bitsler ensures that you are constantly rewarded. The minimum qualifying deposit for the Bitsler welcome bonus is $20.
Instant Withdrawals
The frustration of long waiting times for withdrawals is a thing of the past at Bitsler. With blockchain technology, Bitsler ensures swift and seamless withdrawal processes, allowing players to access their winnings without delays. These fast and hassle-free withdrawals enhance the overall player experience.
Huge Selection of Games
Variety is a cornerstone of Bitsler’s appeal. With an extensive library of games ranging from classic table games to modern video slots, you are spoiled for choice and can explore new gaming avenues at your leisure. Bitsler boasts an extensive game library with over 3,500 games catering to diverse preferences.
Exclusive Bitsler In-House Games
In addition to a wide selection of popular casino games, Bitsler proudly offers over 20 exclusive in-house games. Crafted with innovation and creativity, these unique games provide players with fresh and unique ways to win. The exclusive titles include Cara y Cruz, Hilo, Crypto Thugs, Plinko, Fruitsler, etc.
Vibrant Bitsler Community
Bitsler fosters a vibrant online community where players from around the world can connect, share experiences, and engage in friendly competition. Interact with others, give and receive free coins via the chat’s Rains, Chat Games, and Bounty Rolls. This sense of community enhances the overall gaming experience.
VIP Loyalty Program
The VIP loyalty program at Bitsler is a 9-level program that rewards players for their dedication. With exclusive perks, personalized rewards, and access to premium features such as up to 30% Rakeback bonuses and up to $35,000 in mystery chests, loyal players are treated to a truly elevated casino experience through the VIP program.
How Bitcoin Casinos Are Changing the Gaming Industry Today
The influence of crypto casinos on the gaming industry is undeniable. The implementation of blockchain technology ensures transparent, fair, and tamper-proof transactions, eradicating long-standing concerns about the integrity of traditional online casinos, such as rigged games or unfair outcomes.
Additionally, these casinos attract a global audience, breaking down geographical barriers and creating a diverse and vibrant gaming community. Using smart contracts further enhances trust and security, ensuring that payouts are executed accurately and efficiently. The ease of crypto transactions and the potential for lucrative winnings also contribute to their growing popularity.
Pros of Crypto Casinos
Compared to traditional online casinos, cryptocurrency casinos offer several advantages that have contributed to their growing popularity. Here are some of the features that are helping Bitcoin casinos revolutionize the gaming industry:
Anonymity
One of the advantages of crypto casinos is the enhanced anonymity level they provide you. This can particularly appeal to individuals who value their privacy and want to enjoy casino games with a reduced risk of compromised personal information.
Security
Crypto casinos offer a higher level of security compared to their traditional counterparts. Blockchain technology, the foundation of most cryptocurrencies, ensures transparency and immutability of transactions, safeguarding sensitive data, and protecting you from potential breaches.
Faster and Cheaper Payment Transactions
Cryptocurrency transactions occur swiftly and at a fraction of the cost associated with traditional banking methods. Conventional online casinos often involve intermediaries such as banks or payment processors, leading to delays and transaction fees.
Crypto transactions, on the other hand, occur directly between you and the casino, bypassing intermediaries. This results in faster deposits and withdrawals, often processed within minutes, and reduced transaction fees. You can enjoy your winnings more quickly and avoid the frustration of lengthy withdrawal processes.
Cons of Crypto Casinos
The disadvantages of using Bitcoin gambling include the following:
Volatility
One of the main drawbacks of crypto casinos is the inherent volatility of cryptocurrencies. The value of cryptocurrencies, including popular ones like Bitcoin and Ethereum, can experience significant fluctuations within short periods. This volatility introduces an element of uncertainty for players.
Technical Challenges
If you are completely unfamiliar with cryptocurrencies, it can be a steep learning curve to familiarize yourself with the various technical terms. Learning about Bitcoin wallets, how public and private keys work, understanding blockchain technology, and all the related jargon can be intimidating to beginners.
Types of Bitcoin Casinos
We can loosely classify Bitcoin casino sites into two major groups. There are:
Hybrid Crypto Casinos
If you have ever played at a regular online casino, there is a chance that it might have been a hybrid casino. Hybrid Bitcoin casinos are online casinos that accept both cryptocurrencies and traditional fiat currencies. In addition to supporting crypto as a payment option, these casinos also offer standard banking methods (debit cards, credit cards, PayPal, Neteller, Skrill, etc.), catering to a broader range of players.
Crypto-Only Casinos
Unlike hybrid casinos, crypto-only casinos are platforms that exclusively operate with cryptocurrencies as their primary form of payment and gameplay. These casinos have gained attention within the online gambling community for offering a unique and decentralized gaming experience.
By utilizing blockchain technology, they provide transparent and tamper-proof gaming outcomes, assuring you of fairness. These casinos often capitalize on the benefits of cryptocurrency transactions, such as rapid deposits, withdrawals, and reduced fees.
What are the Factors to Consider When Choosing a Crypto Casino
With hundreds of casinos supporting cryptocurrency, selecting the right crypto casino ensures an enjoyable, secure, and fair gambling experience. There are different factors that should be considered when making this decision.
Here are some of the factors to take into consideration when selecting the right crypto casino that fits your needs and preferences:
Type of Crypto Casino
Different types of crypto casinos exist, ranging from those exclusively accepting cryptocurrencies to those supporting both traditional and digital currencies. Understanding the casino’s payment options and compatibility with your preferred cryptocurrencies is essential. Choose between hybrid or crypto-only casinos based on your preferences and comfort with cryptocurrencies supported by the platform.
Game Variety
The diversity of games available is another critical factor. A reputable crypto casino should offer a wide range of games, including slots, table games, live dealer games, and more, to cater to different players’ preferences. Opt for a platform with a diverse selection of games that fit your gaming preferences.
Casino Reputation and Quality of Services
Research the casino’s reputation and read user reviews from other players. A well-established and trustworthy crypto casino should have positive feedback, fair gaming practices, and reliable payouts.
User Friendliness, Mobile Support, and Responsiveness
Ensure the platform is user-friendly and supports mobile gaming. Ensure the casino’s website is responsive on various devices, allowing you to play on the go, significantly enhancing the overall experience.
Customer Support System
A responsive and helpful customer support system is vital. The casino should offer various support channels, such as live chat, email, and phone support, to address any issues promptly whenever you need it.
Bonuses and Promotions
When choosing a Bitcoin gambling site, consider the bonuses and promotions the different crypto casinos offer. However, read the terms and conditions thoroughly to understand wagering requirements and withdrawal restrictions before opting into any bonus offers.
Licensing and Regulation
A legitimate Bitcoin gambling casino platform should be licensed and regulated by a reputable authority. This ensures that the casino operates within legal guidelines, offers proper player protection procedures, and adheres to fair gaming practices. Choose a bitcoin casino that is legally licensed to operate in your jurisdiction by a reputable licensing authority.
Privacy and Security
Check the casino’s privacy and security measures. It should use encryption to protect your personal and financial information, and provably fair algorithms to ensure the randomness and fairness of games. Prioritize platforms with robust security measures and transparent privacy policies to safeguard your data.
Conclusion
The rise of bitcoin casinos marks a pivotal moment in the evolution of online gambling. These casinos have introduced a transformative shift in the online gambling landscape, offering you unprecedented levels of privacy, security, and flexibility. You can expect even more innovative features and experiences as these platforms continue to evolve.
By understanding the core concepts of how Bitcoin gambling works, its advantages, and considerations when choosing your next crypto casino platform, as outlined in this guide, beginners can confidently navigate the world of crypto casinos.
How to Choose the Best Bitcoin Casino?
Bitcoin is anonymous, has fast transactions, extremely low fees, and no tax issues. Bitcoin casino is the smart alternative to regular casino sites.
Open your account and play instantly! But which Bitcoin casino should you choose? There are many casinos that let you play with Bitcoin. We help you choose the best Bitcoin casino in the comparison table above.
However, there are other things that are good to check and compare. To choose the best Bitcoin casino, check the following:
- Customer Satisfaction – The fastest way to choose the best Bitcoin casino is to listen to their customers. How satisfied are their users? To help you answer that question, all casinos on this page have a rating (with numbers 1-100 and stars 1-5).
- Casino Reliability – There is something called provably fair gambling. This means that the casino uses an algorithm that analyzes and proves that your odds are fair. NOTE! Only play at Bitcoin casinos that prove fair odds. All Bitcoin casinos that we recommend use provably fair.
- User Experience – All Bitcoin casinos have various offers and casino games that are constantly updated. Instead of just looking for deposit bonuses, look at the overall casino experience.
- Available Games – Want to play a specific game? There are a variety of different casino games. This includes jackpots, blackjack, video poker, roulette, dice, slots, sports and much more. The Bitcoin casino with our highest rating offers all these games.
- Customer Service – All casinos don’t offer fast and reliable customer service. Is there customer support 24/7? Do they offer phone support, chat support or both? Bitcoin casino sites usually prioritize a good customer service.
- Deposit Bonuses – Basically, all casino sites offers a deposit bonus. You can even found Bitcoin no deposit bonuses. It’s always nice to receive a bonus and free spins. However, many users only look at the deposit bonus. TIP! Choose a Bitcoin casino with good user rating. Compare casinos and deposit bonuses in the table above.
- Payment Methods – All casinos that we review accept Bitcoin as a payment method. Do you want to deposit money from your debit/credit card or with bank transfer? Most Bitcoin casinos accept that as well. However, we recommend to only play with Bitcoin. In that way, you will get all Bitcoin casino benefits.
Beginner’s Guide: Bitcoin Gambling Sites
The digital currency solves many problems found on regular casino sites. Bitcoin is a safe and easy way to deposit and withdraw money from your casino account.
At the same time, Bitcoin is almost entirely anonymous, which has both pros and cons. For casino och betting sites this is a big advantage. No third party has access to your personal and financial information.
In addition, you will not encounter canceled payments associated with debit cards. We will go into detail and explain how everything works in this guide. In the end, we also help you choose the best Bitcoin casino for you!
Play completely anonymous
The growth of online casinos has been high for many years, and Bitcoin casinos have surged in recent years. Today there are many Bitcoin casinos where you can play anonymously because no government can regulate or control your money.
Play with the best odds
Bitcoin gambling sites can also offer bigger profits because their costs are lower. Since no authority controls the market, the gaming sites don’t have to pay licensing and other fees.
Play instant and secure
The absence of regulations also leads to many unreliable Bitcoin casino sites. For this reason, more responsibility is required of the players. NOTE! Only open an account and play at casinos in our comparison table. All casinos on this page have been tested and rated by us. We help you choose a reliable and secure Bitcoin casino!
Play with the biggest bonuses
We will explain what Bitcoin BTC Gambling is and how it works. What legislation exists for Bitcoin gambling and how the Bitcoin casino market looks. How to choose the right Bitcoin casino- and betting site with the biggest bonuses and promotions.
Bitcoin gambling has quickly become a popular alternative to regular gambling sites. It gets significantly easier because you get rid of expensive transaction fees, long waiting periods and your payment can’t be rejected. Learn more →
What Is Bitcoin (BTC) Gambling?
Bitcoin gambling works like the normal gambling market, but you use Bitcoin (BTC) as a means of payment instead of fiat currencies such as dollars (USD), euros (EUR) or pounds (GBP).
There are a variety of games on the Bitcoin casino market such as casino games with live dealers, roulette, slot games, blackjack, poker, sports betting and much more.
Almost all Bitcoin casinos offer welcome bonuses for new players which usually doubles your first Bitcoin deposit. There are plenty of gambling sites that accept Bitcoin, and everyone has their own games, bonuses, jackpots, and prizes.
Avoid unnecessary exchange fees!
There are gambling sites that exclusively use Bitcoin as the payment method. At the same time, there are older companies that have added Bitcoin as an alternative payment method to traditional currencies.
Gambling companies that have included Bitcoin as an alternative payment method usually convert Bitcoin into a fiat currency when you make a Bitcoin deposit. When you withdraw the money, they convert the currency back to Bitcoin. NOTE! You want to avoid currency conversion because it usually includes an exchange fee.
More freedom and fair play!
No government or authority can control or manipulate the cryptocurrency Bitcoin. This creates a more fair and free gambling market. At the same time, it leads to many unserious players that you should avoid on the Bitcoin gambling market.
We only recommend casino sites that use “provably fair” games. This means that the company uses an algorithm that analyzes and verifies that the odds are fair on the casino website.
Bitcoin casinos can calculate provably fair in different ways, but the concept is the same. Players can verify that a game is fair by entering ID numbers and other information.
There were also countries that prohibit people from playing poker and other games on casino sites. This is no problem with Bitcoin casinos because it’s anonymous. Bitcoin gambling gives more freedom to players. Get started now →
How Does Bitcoin Gambling Work?
To play on Bitcoin casinos you, of course, need Bitcoin. In other words, the first step is to buy Bitcoin if you haven’t already. Are you a Bitcoin beginner? No problem, we will help you!
- If it’s the first time you buy Bitcoin, we recommend reading our beginner’s guide: What Is Bitcoin?
- However, if you want to get started quickly, we recommend to read our ultimate guide: Get Started With Bitcoin
- The last step is to buy a Bitcoin wallet to protect your cryptocurrency. Compare and choose: Best Bitcoin Wallet!
Have you bought Bitcoin? Do you have a safe Bitcoin wallet? If you answered yes and yes, good job!
Deposit Money and Start Playing
Now you’re ready to deposit Bitcoin to your casino account. First, log in and find your Bitcoin address. To make a deposit, transfer Bitcoin to that address. You can send and receive Bitcoin 24/7 for almost no fees!
After you have transferred Bitcoin to the address, your transaction needs to be verified by the Bitcoin network. This is usually done directly, or it will take a few minutes. When the money comes into your account, you are ready to play.
Withdraw Funds Instantly 24/7
It’s as easy to make a withdrawal as a deposit. To withdraw your winnings, you simply transfer the money back to your Bitcoin wallet. Unlike regular casino sites, you can deposit and withdraw 24/7!
There is no middleman that can restrict or deny your transfer. However, if the casino site converts your Bitcoin into fiat currency, your transfer will probably need to be approved by the company.
For this reason, we recommend playing at casinos that exclusively uses Bitcoin and cryptocurrency. Choose the best Bitcoin casino in the comparison table above.
Never Store Bitcoin at the Casino!
When you transfer cryptocurrency to the Bitcoin casino, they keep them in their online wallet. In other words, you need to trust the casino to protect your Bitcoin. This is required to play. However, you should NEVER store Bitcoin at the casino!
If you don’t play, transfer your Bitcoin to a secure and private wallet. Compare and choose the safest Bitcoin wallet.
Do you want a Bitcoin casino no deposit bonus? Continue reading
Bitcoin Casino No Deposit Bonuses
Basically, all BTC gambling sites offer welcome bonuses for new players and other promotions on a regular basis. Bitcoin casino bonuses can be an important factor when comparing different casinos.
In addition, there are Bitcoin casino no deposit bonuses! They can include free playing tokens and free spins. Bonuses and promotions are a way for casino sites to advertise themselves and get new players.
Play with Bitcoin and Get All Bonuses
This is great if you play with Bitcoin! Because Bitcoin casinos don’t require any personal information, it’s easy to create multiple accounts and make use of all welcome bonuses.
We update our comparison table when new bonuses and offers become available. Compare all Bitcoin casino bonuses and open an account. When you register your account, you will also receive an email about new bonuses.
This is completely free and there are no expensive transaction costs as with regular casino websites.
How Does Bitcoin Casino Bonuses Work?
Let’s say that a Bitcoin casino offers a 100% welcome bonus up to 1 BTC. This means that if you transfer two Bitcoins to your casino account, you get 1 BTC in bonus. However, there is always a turnover requirement which means you can’t withdraw the money before you have played enough.
If you want to deposit Bitcoin again, it may be a good idea to visit their website to see if there are any bonuses available. You should also look over the terms of the bonus and what the turnover/rollover requirement is before you can withdraw the money.
NOTE! Don’t Get Blinded by the Bonus
Bonuses and promotions can differ widely between various Bitcoin casinos and betting sites. However, you should not only compare bonuses between Bitcoin gambling sites. There are unreliable casino websites we wouldn’t recommend because they don’t meet basic requirements.
It may be due to several reasons; The Bitcoin casino is new and there is no official owner behind the site. The gambling site is not transparent or don’t use provably fair odds. The Bitcoin casino has a background of cheating or fraud.
Only play at safe and well-known Bitcoin gambling sites. Compare Bitcoin casinos and current deposit bonuses in the table above.
Pros and Cons with Bitcoin Casinos
There are more pros than cons with a Bitcoin casino. Bitcoin as a means of payment has significant improvements compared to regular payment methods. Below we go through all pros and cons with Bitcoin casinos.
Advantages with a Bitcoin Casino:
- Bitcoin is safer, faster and basically a free payment method – This is because no middleman is charging high transaction fees when adding money to your casino account.
- Bitcoin casinos offer bigger winnings to players – As Bitcoin casinos have lower costs than regular online casinos, they can offer better payouts.
- No state or bank can control Bitcoin and cryptocurrencies– Anyone playing on a regulated gambling market understands how important this is. For example, it’s not uncommon to get your money frozen at the casino if you live in the United States. If you play with Bitcoin, you have full control over your money, which prevents such events.
- You don’t have legal restrictions and tax issues – Players from countries with strict gambling rules can participate without problems. Also, there is no additional tax expense when you transfer money with Bitcoin.
- Total privacy and anonymity with Bitcoin – The majority of Bitcoin casinos don’t request any personal information such as your name and address. You only have to share your email in case you need to reset your account password.
- Instant deposits and withdrawals of money – Bitcoin and other cryptocurrencies allow you to transfer money immediately without waiting. If we compare this to regular casinos, withdrawals may take 2 to 7 days depending on your bank choice.
Disadvantages with a Bitcoin Casino:
- Fewer regulations on the Bitcoin gambling market – While Bitcoin creates a more free and fair gambling market, players need to take more responsibility. The gambling market for Bitcoin lacks many regulations, which means that players need to be careful about which casino sites they use.
- Bitcoin gambling sites can hide their identity – It’s not only players who can be anonymous, but the gambling sites can also hide their identity. This increases the risk of fraud, and therefore you should avoid playing at unknown Bitcoin casinos. In our comparison table, we help you choose the best and safest Bitcoin casino site.
- No official gambling license for Bitcoin casinos – You can’t control Bitcoin casinos because the cryptocurrency is anonymous. This also means that authorities can’t require gambling licenses from casino sites using only cryptocurrencies.
Best Betting Site: Bet on Anything with Bitcoin
There are a wide variety of different Bitcoin betting sites on the market. Sports betting is most popular, but there are also binary options and prediction markets that use derivative instruments for betting.
Bitcoin sportsbooks make it easier than ever to bet on different matches. It’s both easier and cheaper to bet with Bitcoin instead of fiat currencies on regular gambling sites.
Betting with Bitcoins
Binary options are common for betting with financial instruments and currencies. You make money on where the price will be after a predetermined amount of time. Betting markets that use derivative instruments for betting are also available.
This means that you can bet on anything, as long as someone is prepared to bet against you. Unlike standard gambling sites, Bitcoin casinos can offer all kinds of betting! For example, betting on political elections.
Important to know → 1 BTC = 1000 mBTC
Bitcoin betting sites are easier to use than regular betting sites. Because Bitcoin can be divided into 8 decimals, you can bet the exact amount you want. You don’t have to meet any wagering requirements that force you to withdraw winnings or bet more to collect your winnings.
New players need to know that 1 BTC = 1000 mBTC. Basically, all Bitcoin gambling sites use mBTC for betting because it’s easier to read. When you’re playing it’s important to know the value of each chip. Use our comparison table and choose the best Bitcoin betting site!
Is Bitcoin Gambling Legal?
Bitcoin is completely legal! However, Bitcoin gambling can be a gray zone because authorities can’t maintain laws and regulations in different countries. We will not go into details on laws in different countries but talk about Bitcoin gambling in general.
There are states that totally prohibit gambling with fiat currencies. However, these laws don’t work against Bitcoin because it’s not a normal currency. Bitcoin is not an official currency in most countries, which means it’s not strictly illegal to play with Bitcoin in these states.
You Are Completely Anonymous
The laws and rules usually cover fiat currencies, which don’t include cryptocurrencies. It also means that the state can’t apply its tax rules to your gambling. No government will be able to tax you even if they want because Bitcoin is anonymous.
In addition, Bitcoin gambling sites don’t require any personal information, which makes it impossible to connect you to the casino account. Standard casinos always require identification from all users.
The Gambling Site Is Responsible
However, the rules vary for Bitcoin gambling sites because laws vary in different countries. But don’t worry! The Bitcoin gambling site is responsible and must comply with legislation and regulations in the country the company is established.
All you have to do is to choose a big and well-known Bitcoin casino. NOTE! Don’t open an account at smaller or unknown casinos! In that case, you must read their terms and conditions.
To be on the safe side, we recommend that you don’t use your real name when opening your account. Choose the Best Bitcoin Casino
Conclusion: Which Bitcoin Casino is The Best?
7BitCasino is the best Bitcoin Casino / Gambling site. Their casino site has received our highest rating. They offer a deposit bonus of 100% + 100 free spins! Open an account and play instantly.
We Test and Rate Casinos
When we rate a Bitcoin casino we look at many factors. This includes their games available, reliability, customer satisfaction, deposit bonus, user experience, customer service, payment methods and much more.
But most importantly, we test all Bitcoin casinos. This takes time but answers many important questions such as; Is the casino platform user-friendly? How long does it take to deposit money and withdraw money? Is there a quick and helpful customer support?
We update this guide and our comparison table all the time. All Bitcoin casinos/gambling sites have both pros and cons. We help you choose the right one!
Avoid Common Beginner Mistakes
If you don’t have Bitcoin, you should not register at a Bitcoin casino that only accepts cryptocurrency. This means that you can’t deposit funds with your bank card/bank transfer.
We recommend buying Bitcoin before opening your Bitcoin casino account. Don’t worry, you can buy Bitcoin quickly and easily with your bank card.
Get Started Now → Play Anonymously
Are you a Bitcoin beginner? No worry! We help you buy Bitcoin and play anonymously. Follow these four easy steps:
- Step 1: Buy Bitcoin, compare and choose the Best Bitcoin Exchange.
- Step 2: Protect Your Bitcoin, compare and choose the Best Bitcoin Wallet.
- Step 3: Open account at the Best Bitcoin Casino.
- Step 4: Transfer your Bitcoin to the casino and play instantly!