For some people, the anonymity of Bitcoin is comforting and a good reason to play at Bitcoin casinos instead of paying in euros. On the other hand, there are no casinos in the Netherlands that accept payments with Bitcoin. Online casinos Netherlands know what kind of people play with them. Payment cannot be made using anonymous payment methods. This relates not only to the casino’s duty of care, but also to anti-money laundering and fraud laws.
Playing at online casinos requires registration. You can pay with any fiat currency, such as Euros, for which a payment method is registered in your name. Bitcoin payments are not possible and will not be possible in the future. Transactions can be registered at any time, as the Dutch gaming authorities recorded: If you exhibit problematic behavior as a player, you can be banned from all online casinos through Crook.
Bitcoin Casinos: What Are They Really?
Bitcoin is the best known of all cryptocurrencies and is already widely accepted as a payment method. In the Netherlands, overseas online casinos are also prohibited from accepting Bitcoin into their casinos. Bitcoin casinos allow you to pay with Bitcoin and transfer it to your account. While playing with euros in the Netherlands, Bitcoin casinos allow you to play games like blackjack, video slots, poker, and roulette with bitcoins. If the casino also takes sports betting, you can also pay with Bitcoin. These casinos are no different from Dutch online casinos except for the payment methods.
Why do people want to play at Bitcoin casinos?
According to people who want to play at Bitcoin casinos, there isn’t really one specific reason for this. This combination makes it attractive to not pay in euros, which is mandatory at Dutch online casinos. Bitcoin payments can be made completely anonymously and your payment details are not shared with the casino. Many people choose Bitcoin because they do not like sharing their personal information with TOTO casinos. There are also casinos where you can play without registering. You can only play at Dutch casinos if you create an account and pay in Euros.
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Payments made in Bitcoin can be tracked on the blockchain. This allows you to check whether your payout is being routed to the casino or to your wallet. Data is shared anonymously on the blockchain. Transactions can be seen, but no one can tell who they came from. This is a safe idea for players because transactions can be tracked.
Transaction speed is also a reason why players choose Bitcoin. Withdrawals and deposits can be made very quickly. Within a few minutes, the money will be in the casino’s wallet or your wallet.
Are there any downsides to Bitcoin casinos?
It’s not all roses and moonshine, but there are drawbacks to paying with Bitcoin. It goes without saying that in the Netherlands, payments can only be made with fiat currency such as euros. The value of Bitcoin is highly uncertain and can fluctuate significantly, but much less so than the Euro or Dollar. While playing, your money may suddenly become much less valuable. Problem gamblers can do business at Bitcoin casinos, but transactions cannot be linked to people. The systems used by the Netherlands, such as Cruks, do not work in Bitcoin Casinos. Anonymous seems cheaper, but I recommend playing in the Netherlands where you have to pay in Euros.