Bitcoin mobile casino apps

Although Bitcoin has had its share of negative press lately, the virtual currency is used across the globe by tens of thousands to make purchases and fund player casino accounts.  It is relatively new to the casino app deposit game, and is still not entirely trusted by the masses. Bitcoins are a decentralized currency that only exist in the virtual world, so there is no physical existence of the Bitcoin. There is also no central bank regulating the value of the Bitcoin, as the Federal Reserve does for other currencies.

Bitcoins can be acquired by opening an account at various Bitcoin websites, like bitcoin.org, and then purchasing existing Bitcoins from others, through a peer-to-peer network. These networks are online exchanges, like the recently shutdown Mt. Gox, which in 2013, handled close to 70% of all global Bitcoin transactions. There are several other exchanges that are still in operation, and continue to manage the limited number of Bitcoins that exist. The fluctuating value of the Bitcoin makes it a risky play for funding online and mobile casino accounts, despite the fact that a lot of users enjoy not having to make transactions via a bank.

Bitcoin has its benefits when it comes to fees tied to casino deposits, as mobile casinos charge very few fees for using the currency, while some bank transferring services, like Western Union, charge considerable fees for using their services. Another bonus for Bitcoin is that US casino players can use the currency to fund their accounts, since the banking regulations that have been administered in the US do not apply to gambling with Bitcoins. There are also Bitcoin-specific mobile casinos, like BitBet or Satoshi Bet, that solely accept the virtual currency as a payment method.

The fluctuating currency may benefit players on deposits, but upon withdrawals from mobile casinos, you may want to use a different option. The fluctuation of the currency, outside of the gambling app world, may cause the value of the Bitcoin to be much lower upon your withdrawal.

While it is an exciting addition to the mobile casino world, Bitcoin does have quite a few question marks around it, and with its volatility, there are better choices out there for funding your real money mobile casino accounts.