You may have heard of Bitcoin. It’s been on the news quite a bit lately. In case you don’t, Bitcoin (BTC) is the first and most major cryptocurrency. It has been in the news more frequently of late due to its significant increase in value. Bitcoin is a currency and those who understand this are already using it as such. One trading point where Bitcoin is used as a form of exchange is online casinos.
Online Gambling Situation in India
In India, gambling is illegal at the federal level. Almost every form of gambling is illegal save for a few games of skill. However, these federal laws do not have the scope to affect online gambling activities. To try make up for this, some authorities in certain states are now attempting to outrightly ban online gambling. This is no easy task for them. One method has been to prohibit banks from aiding transactions involving online casinos like 22Bet.
Moves like this have caused many individuals to turn to alternative transaction methods that are not easily controlled by the government. This has led to the rise in the use of digital wallets and cryptocurrencies. Neteller is an example of a digital wallet that is very popular among Indians. A large number of people in India also use cryptocurrencies. It is estimated that 5 million Indians are currently using digital currencies.
Cryptocurrency Laws in India
Just like the case of gambling in India, the use of cryptocurrencies and other digital currencies is not exactly illegal in India. Although the government frowns at the use of digital and cryptocurrencies, it does not outrightly ban them. However, there is talk of the Indian government wanting to ban cryptocurrency and establish its own digital currency.
This ban is still subject to legislative support and there are no current laws penalizing individuals for using cryptocurrencies or other digital wallets. To this effect, you can still use Bitcoin for online gambling just as you can use it for shopping.
Bitcoin Casinos in India
There are several Bitcoin casinos in India. Bitcoin casinos are simply online casinos that allow their players to withdraw or deposit funds using Bitcoin. Below is a list of some of the best Bitcoin casinos in India.
22Bet Casino
22Bet is one of the best online casinos in India. It has an amazing selection of online slots, roulette, blackjack, baccarat, live betting and more. And it accepts Bitcoin as a payment method. The 100% bonus that 22Bet offers also applies to users who deposit with Bitcoin. Terms and conditions apply. There are also minimum withdrawal or deposit limits of 1 USD worth of Bitcoin. The withdrawal only takes 15 minutes to take effect while deposits are instant.
1xbet
This is another trustworthy online Bitcoin casino in India. 1xbet offers a wide variety of casino games and has one of the fastest Bitcoin payment systems. The minimum deposit is 300 INR while the minimum withdrawal is 3000 INR. There are no fees charged for withdrawal or deposit.
BitStarz Casino
Bitstarz casino offers no less than three thousand online casino games. However, it has also Bitcoin dedicated games. These BTC games include slots, table games, live casino, and so much more. The minimum deposit as well as withdrawal is 0.005 BTC. Both the withdrawals and deposits are instant.
7 Casino Bits
This casino offers the opportunity to play your favorite games using Bitcoin. The minimum deposit limit is 0.01 BTC while the minimum withdrawal limit is 0.001 BTC. Both the deposits and withdrawals are instant. This casino even has a set of games dedicated to the use of Bitcoin, and they are called “Bitcoin games.” They range from slots to jackpots and so much more.
How Can You Identify a Secure Bitcoin Casino?
Bitcoin transactions, like all cryptocurrency transactions, are irreversible. Once you send the money to the receiver, there is no way to bring it back. To this effect, gamblers must be extra careful when choosing Bitcoin casinos. It is even more vital in a place like India where the authorities frown at both cryptocurrencies and gambling activities.
To this effect, the safety of the gambler and his/her money lies with him/her. Nonetheless, here are some ways to identify a secure Bitcoin casino and reduce chances of getting defrauded.
Ensure the casino is licensed to operate
This is the major giveaway of fraudulent Bitcoin casinos. Most of them are not licensed in either their state of origin or the state of operation. If they do not have any license, they are likely fake.
Opt for more popular Bitcoin casinos
This is also another sure way to identify a safe Bitcoin casino. Popular casinos want to stay popular and will often take on popular initiatives such as adding Bitcoin to their payment options. One reason to opt for popular casinos is because they care about their public image and will not want to ruin it by scamming their customers.
Bitcoin should not be the only form of payment
This is definitely a red flag. How can Bitcoin be the only form of payment? This means that the casino is trying to leave no traces so that it can easily get away with stolen money. A secure Bitcoin casino should also offer regular and other digital forms of payment besides Bitcoin.
Avoid offers that are too good to be true
This is particularly about Bitcoin games. Often times, greed is what makes people fall victims to scams. Avoid excessive bonuses attached to the use of Bitcoin or Bitcoin games. And most importantly, gamble wisely.
