Common Myths About Crypto Gambling Debunked

When Bitcoin entered the scene in 2009, cryptocurrencies have been shrouded in mystery. Nearly two decades later, digital currencies continue to gain mainstream acceptance, and many use them for all sorts of transactions. Blockchain is witnessing rapid adoption in many industries, including online gambling.

Crypto casinos capitalise on the decentralised nature of virtual currencies. As a result, Bitcoin casinos are no longer niche sites, but they have evolved into leading online gambling establishments that are popular among many gamers.

Despite that, some are still sceptical about crypto-friendly gambling platforms. Just like with anything “new”, crypto sites are prone to myths and various misconceptions.

To help you distinguish truth from fiction, we’ve prepared this article to unravel the mysteries surrounding cryptos and online crypto casinos.

Crypto Casinos are Not Safe

This is one of the most widespread fallacies about crypto casinos. Although there are sites that don’t have licences from reputable online gambling regulators, this doesn’t mean they are unsafe. In fact, many crypto platforms operate with a valid licence issued by the government of Curacao. This means that they adhere to strict rules set by this regulator.

Crypto casinos leverage the power of blockchain technology, which is known for being safe and providing a level of fairness that standard online casinos may lack. What’s more, the best brands also use additional security measures, like SSL encryption and two-factor authentication, to add an extra layer of security.

Crypto Casinos Are Rigged

Another misconception surrounding crypto casinos is that they are not honest. In other words, some think that these operators will rig games to cheat players.

In reality, leading crypto casinos use the provably fair algorithm, a blockchain-based technology that allows players to verify the game results. Such an approach eliminates all unfair factors and ensures no one can tamper with the games’ randomness.

Some casinos, like BC.Gaming, provide provably-fair guides that explain whether the platform can manipulate the games.

Best Developers Don’t Work With Crypto Casinos

For us, this is a fun part of this analysis. Whoever says that top game providers avoid crypto platforms knows nothing about the industry. The truth is that many crypto-oriented casinos partner with top-tier brands, thus ensuring massive game lobbies.

Here are a few examples. Nummus Casino teams up with over 120 game developers, providing an enviable collection with 15,500+ games. This casino offers titles from industry giants, like Pragmatic Play, Evolution, NetEnt, Play’n GO, and Nolimit City, to name a few.

Or, let’s visit BC.Game crypto casino. You’ll discover an extensive roster powered by some of the biggest industry names, like Games Global, Ezugi, Playtech, Big Time Gaming, or BGaming.

Crypto Gambling is Illegal

Well, this is a serious “accusation” that deserves our full attention. The truth is that the legal status of crypto-gambling establishments varies from one country to another. Although, at the moment, crypto gambling regulation doesn’t exist, this doesn’t mean that crypto casinos are illegal.

In fact, crypto gambling is not explicitly banned in the biggest markets, like the UK or the US, but it must comply with strict online gambling laws in these countries. For example, the UK Gambling Commission published a position paper in 2017 stating that crypto transactions must adhere to the same rules as fiat transactions.

It’s worth noting that online crypto casinos are in a grey area in some countries since there are no laws regulating cryptocurrencies. This means that these sites are not banned, but they are not officially recognised by the government, either. One of the reasons it’s hard to address the issue of virtual currencies is that they operate on the blockchain network, which is independent of any third-party regulatory body.

Therefore, before you start your casino adventure, it’s important to learn all about the legal framework in your country.

Using Cryptocurrencies for Gambling is Complicated

We can agree that cryptocurrencies may seem complex for newbies. However, online casinos have simplified the process of using digital currencies for online gambling, making it smooth and player-friendly. As a result, even inexperienced gamers can quickly learn the basics and start making deposits and cashouts hassle-free.

One of the advantages of using cryptos is the fact they are entirely decentralised, eliminating any third-party involvement by the banks or governments. This means that the process of paying and collecting winnings with cryptos is much faster, easier, and even more cost-effective.

Crypto Casinos Don’t Have Bonuses

We like this myth, as it’s so easy to deny it. Just like any other traditional online casinos, crypto-friendly operators also provide various incentives for new and existing members.

What’s interesting is that crypto casinos tend to have more and better bonus deals than their fiat counterparts. These operators have jam-packed promotions pages because they want to attract more players and cater to those who are still suspicious about whether to join these sites.

You can claim attractive Bitcoin welcome bonuses, enter exclusive raffles, claim cashback deals, reload bonuses, and join attractive VIP programs. For example, you can win 1 BTC at Playbet.io crypto casino and collect up to 4 BTC and 800 free spins as a sign-up welcome gift.

Ybets casino offers an original Engine of Fortune game, allowing you to win up to 5 BTC. Finally, Raze.bet casino awards you with a 370% welcome bonus and 150 spins, each worth 1 USDT.

If this is not enough for you, you can refer a friend, spin the Wheel of Fortune, or join the Telegram channel of your preferred casino, like Wild.io, and collect even more rewards.