Differences Between Bitcoin Casinos and Bitcoin-Friendly Casinos
If you’re looking to play at Australian online casinos using Bitcoin, it is helpful to know the difference between a Bitcoin casino and a Bitcoin-friendly casino. The rise in popularity in Bitcoin has resulted in an explosion of Bitcoin gambling sites. Further still, there are even more sites that are Bitcoin-friendly.
Today, we will take a quick look at the differences between BTC casinos and BTC-friendly casinos. With this information, you will be able to make the best choice in where to deposit and gamble using Bitcoin.
What are Bitcoin Casinos?
Bitcoin casinos are online gambling sites that allow you to deposit and play using Bitcoin. The concept is really that simple. You make a deposit at an online casino site using Bitcoin and then you will use that Bitcoin to play online casino games like blackjack, roulette, craps, or even video poker.
When playing at these casinos, you will gamble using smaller units of Bitcoin. These are referred to as either satoshis or mBTC. The value of a satoshi varies based on the current price of Bitcoin, but you can always check to see how much a minimum bet is by using a Bitcoin converter.
True Bitcoin casinos do not operate using fiat currencies. All transactions are done using cryptocurrency. In some cases, you will be able to play at online casinos using altcoin, but often your altcoin will be converted into Bitcoin.
If you want to get an idea of what a proper Bitcoin casino looks like, take a look at the SoftSwiss platform. They power many BTC casinos.
What are Bitcoin-Friendly Casinos?
The majority of casinos being touted as Bitcoin casinos are actually Bitcoin-friendly casinos. What that means is that you can deposit using BTC, but that BTC will be converted into the primary currency of the website.
For example, if you deposit BTC at Ignition Casino, they will convert it into either AUD or USD. You will then be able to play online pokies or any game available at the site. When it is time to cash out, your fiat is then converted back into BTC and sent back to your Bitcoin wallet.
Many Bitcoin-friendly casinos are also altcoin-friendly. The most commonly accepted altcoins are Litecoin, Bitcoin Cash, and Ethereum. However, coins such as Tether and Dogecoin are also regularly accepted.
There is a selection of online casinos that we classify as Bitcoin-hybrid casinos. That’s because you can play at the site using both fiat and BTC. That’s because these casinos have a dedicated section for BTC games. These games consist of online pokies and a selection of table games and Live Dealer games.
If you want to play anything other than the BTC games on the site, your BTC must be converted into fiat. Hybrid casinos are a solid option but some casinos may be lacking in variety in their BTC gaming section. The best hybrid casinos are those that stick with titles from Microgaming and other top providers.
Which Option is Best?
When deciding on whether to select a BTC casino or a BTC-friendly casino, the choice comes down to personal preference and convenience. For some, BTC casinos are going to be your best option. This is particularly true if you are looking for more of an anonymous experience.
For those that are merely using BTC as a means to make online casino deposits, Bitcoin-friendly casinos will probably serve you better. That way you can play at your favorite casinos but not have to worry about how to fund or cash out from your account.
Now that you know more about the difference between BTC casino types, you can make smarter decisions on where to deposit and gamble with your Bitcoin.
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