Bitcoin Slots

Bitcoin (BTC) is one of the newest FinTechs (financial technologies), has been making an impact in the casino industry throughout the last decade. And slots are one of the most popular casino games played globally for well over a century. So it’s no surprise that these two favourites met up in the 21st century and created something new in the casino industry – Bitcoin casinos and slot games, to be exact.

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Though these Bitcoin slot games and sites may be exciting, they can also be a little confusing for casino-goers like you. Especially if you’re used to traditional casinos and their bonuses, free spins, slot machines, and of course, the FIAT currencies. Understandably, you’d assume playing at these online BTC casinos would be a breeze if you’re already familiar with their preceding counterparts. Yet, you feel a little daunted none the less. Not to worry, I’ll explain all that you need to know about Bitcoin games and online casinos right here in my Bitcoin slot and casino guide.

And don’t stress, there’s no need to feel like you should know more about how crypto slots and online Bitcoin casinos work or about satoshis, provably fair games, or pseudonymous transfers. As a new technology, Bitcoin and these related features will definitely be alien to those who’ve never used BTC before. So, let’s dive right into demystifying these types of online slot games and the casinos at which you can access them.

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Best Bitcoin Slot Sites

There are plenty of Bitcoin casinos available at which to play Bitcoin slots. But unless you’ve tried them all, you probably won’t know for sure which are the best ones to play a Bitcoin slot machine casino game. Luckily I have tried out my fair share of BTC casinos, and I’m happy to pass my list of top-rated Bitcoin slot casinos on to you. These sites offer bonuses and free spins too!

Just be sure to read my Bitcoin slots and casinos guide before you start playing, so you understand how these new crypto casinos and slot games work. I’ll cover topics like faucet sites, BTC denominations, provably fair games, the different types of BTC gaming sites, and more.

Features, Privacy & Banking at BTC Slot Sites

With its safety, convenience, and cost-effectiveness, BTC is winning the hearts of more and more players and online casino sites worldwide as a preferred payment method for gambling games. With this in mind, let’s get into the various features and intricacies of BTC transactions and the sites that offer BTC payments.

Types of Bitcoin Casinos

Using Bitcoin as a payment method is one way to fund your account and pay to play your internet casino games, but there is much more to BTC casinos and games than free spins, max/min bets, and pay lines. And there is actually more than one type of BTC casino too. I’ll discuss these here.

The three main types of Bitcoin casino sites are:

  • Hybrid cryptocurrency-fiat currency sites
  • Dedicated Bitcoin casinos
  • Bitcoin faucet sites.

All of these places mostly offer juicy bonuses with smooth gameplay. Compared to others, the sites are more innovative, due to their cutting-edge technological developments. In fact, I wouldn’t expect less from a bitcoin-friendly casino.

Hybrid BTC Casinos

When you opt to deposit with the first type of establishment, your BTC gets exchanged into FIAT currency, which you can then use to play online slots. A FIAT currency is a regular currency like Great British Pounds or United States Dollars. These casino sites may also allow you to withdraw your winnings as BTC. With these sites, you’ll most likely go about claiming your bonus, playing slots, and making spins and free spins on your favourite progressive jackpot and online slots precisely as you usually would using FIAT currency.

Dedicated BTC Casinos

With the second type of site, you’ll be able to free Bitcoin slot games that use BTC as their currency and then opt to play these Bitcoin slots for real money. If you play these slots for real money, then you will sign up for an account with these sites and deposit, bet, play, win, payout, and withdraw in on them using only BTC, without any crypto-fiat exchanges. Bonuses, new player offers, loyalty rewards, and other special casino promotions on these sites will also be listed and awarded in BTC. Many of these sites also offer free spins as part of their welcome packages, just like regular online casinos.

Faucet Casinos

Faucet sites are a little different, they do offer Bitcoin slots, but they also reward you with small denominations of BTC for playing games or completing other designated tasks. Free spins on the initial game for you to earn your faucet reward may get offered to you, but you can also use your free BTC rewards to make technically “free” spins on other games on the site after you’ve earned your reward. That is the difference between Bitcoin free games and faucet site games. I’ll get into more details about free BTC games and faucet sites further on in the article.

 

Bitcoin Denominations

Since its inception in 2009, the value of a single BTC (฿) has gone from zero up to 0.003c, and then up to thousands of dollars! And all this in such a short period. Bitcoin has become the biggest and most highly-prized cryptocurrency in the world in just over a decade. And it’s now a FinTech that regularly gets mentioned in the media and news as well. Its value has risen so high that new, smaller denominations were required to sub-divide it.

And that’s a good thing – can you imagine making a slot machine bet per payline of one Bitcoin? Perhaps even five Bitcoins? No, I don’t think so – those denominations are closer to the value of standard jackpots and big wins than a single spin bet. That’s because one BTC is worth just under €10,000 at present and can be way more in the nearest future! But a ฿’s value has oscillated wildly over the years, so who knows what one or more BTC’s could be worth a few years from now? Perhaps even €1 million? And to reminisce that just over ten years ago, you wouldn’t have even been able to afford a single spin with a whole BTC. The high value of a single BTC is why smaller denominations are now widely used at BTC casinos and in their online Bitcoin slots.

This is why BTC denominations are essential values with which to familiarise yourself. So here are the four smaller denominations, their names, and their values:

BTC Denominations:
  • Satoshi (sat) – 0.00000001 ฿
  • Microbitcoin or bit (μBTC) – 0.000001 ฿
  • Millibitcoin (mBTC) – 0.001 ฿
  • Bitcoin (฿) – 1.00 ฿

Pseudonymity

Much like its pseudonymous creator Satoshi, Bitcoin transactions are pseudonymous too. A pseudonym is a false name, and anonymity means having no name. This is why BTC transfers aren’t actually anonymous. All Bitcoin transfers utilize a pseudonymous signature for transactions – a random alphanumeric string of numbers. This method is unlike FIAT currency transactions at gambling websites, which require you to utilize all your details to set up the payment method in the first place in order to make an online payment for anything.

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Security

So, BTC transfers are exceptionally safe if you want to protect your identity. This is because they don’t use your data like name, age, gender, address, mobile number, ID number, bank details, physical address, and any other details when you play Bitcoin slots at an online casino. Is this a good thing for authorities trying to regulate legal online gambling? Perhaps not, hence why dedicated BTC online casinos are also a bit of a novelty, and it’s important to learn how to navigate them safely. In some territories like the US, playing online Bitcoin slots and gambling at BTC casinos is even illegal. But since BTC transactions don’t get linked to an individual, it’s hard to trace where or who the player is, making it very hard for authorities to follow up on this illegal activity.

But don’t get me wrong, your online gambling BTC transactions aren’t entirely untraceable; in fact, they are just as traceable as FIAT transactions. Each BTC transaction gets tracked, permanently stored, and publicly logged in the network. You are simply not linked as directly to your Bitcoin transactions as you are to your FIAT transactions. This is because you’ve made the BTC transaction under your pseudonym (the random set of numbers). Luckily the traceable nature of all BTC transactions adds to their security. You can trust that your Bitcoins are safe as long as you don’t lose your Bitcoin wallet, and no one gets into it or accesses any other site where you store your ฿’s. BTC is not linked to banks either, so it’s also difficult for law enforcement to seize or confiscate your winnings.

Fees

Bitcoin itself doesn’t charge fees directly for your gambling transactions. However, your chosen wallet, BTC exchange, or a casino website might. And hybrid BTC casinos will definitely apply their own exchange rate and possibly fees to swap your ฿’s for FIAT currency. One positive is that Bitcoin doesn’t act like a bank and charge the online casino or you a processing fee. So these online sites can give you a much better house edge when you play their BTC casino games.

Bitcoin Slots Faucet

Faucet slot sites offer small denominations of cryptocurrencies like Bitcoins for free if you complete tasks. These tasks could be creating an account or playing online slots on the website. Alternatively, claiming some free faucet crypto each time that you log into your account a certain amount of times. Essentially, you get free BTC to use at these sites as a reward. That’s why the name “faucet” got chosen to describe them. The word “faucet” is a metaphor. In this context, it compares slowly leaking cryptocurrencies to players with a tap releasing water. These faucet sites operate as the first stepping stone for new players looking to dip their toes into BTC games.

The faucet strategy also got created for promotional purposes. Since these sites operate in a new way, and many of their games are unique to them. The site may even have all rights reserved on these online slots and games. So it’s difficult for them to market themselves and get their name out to new customers. The faucet strategy solves a lot of their issues. It also helps new player’s who are reluctant to get involved with the unfamiliar world of crypto-slots and gaming.

Why Play Faucet Sites

If BTC casinos are new to you, then a faucet site is an excellent choice. Technically you won’t be playing Bitcoin slots free, but you will be able to test them. A faucet site teaches you how to play at the BTC sites for real money without spending your own. You’ll also get acquainted with opening your own Bitcoin wallet and handling your first transactions. And instead of the standard welcome bonus or free spins, you’ll get some free BTC. Then you can use this BTC to make some technically “free” spins at these faucet sites. Consider faucet sites a sponsored BTC casino experience where some of your games are on the house. And if you love your experience, then when you feel ready to deposit some of your own cash towards your games, you can do so.

Free vs Real Money Bitcoin Slots

Choose to demo a game if you’re just interested in getting a feel for BTC slots. There are plenty of sites that offer their online slots in demo mode. If you like what you see, then you can play these slots for real money. With free slots, all of your spins are simply free spins. However, you won’t actually win anything, and your game balance will just be for show.

Winning Tips at BTC Slots

The biggest tip for winning on Bitcoin slot machines I can give you is to be safe. As Bitcoin is a new technology, it’s isn’t as regulated as other financial payment methods. BTC’s spawn – BTC casinos, require a bit more knowledge to access safely. It’s very easy for scam sites to take advantage of players. They can do so because of their ignorance of this new FinTech. And they can get away with their crimes and the BTC because it’s unregulated in many parts of the world.

btc winning tips

Choose Provably Fair Games

One great way to win online at Bitcoin slots and keep safe is by accessing provably fair slots. Provably fair slots and games offer a provable way to check if your crypto-game is fair. Many of these games won’t come from a licensed software provider or access independent software testing. Unlike your typical slots, software designers, and online establishments do. So they had to utilize another process to prove the fairness of their online slots to new players. Look for provably fair slots when you select a site with which to play.

Claim Your Welcome Bonus

Another great way to win is to bolster your bankroll with a welcome offer. These bonuses reward you with some extra cryptocurrency and bonuses like free spins when you sign up. Many online BTC gambling sites offer these promotions, just like your regular fiat establishments. With some extra spins and BTC’s in your virtual back pocket, you’ll get more chances to win. You’ll also get some extra fun on the house. And what’s not to like about that?

Conclusion

I hope I’ve helped you to unravel some of the mystery of BTC sites, their slots, and the Bitcoin. Now you know more about provably fair games, faucet sites, BTC denominations, and the best sites to play BTC games. So you can access these types of games with a bit more confidence.

Reference

  1. https://www.begambleaware.org/sites/default/files/2020-12/analysis-of-play-among-british-online-gamblers-on-slots-and-other-casino-14318.pdf
  2. https://heinonline.org/HOL/LandingPage?handle=hein.journals/jstl21&div=4&id=&page=
  3. https://publications.cispa.saarland/2807/1/TheOtherSideOfTheCoin.pdf

 

 

 

Bitcoin Slots FAQ

  • What kind of themes do sites offering Bitcoin slot machines have?

    Every BTC website is entitled to create their own theme. That's why you'll find casinos with many different themes; some may be simple, while others you see may feature cool, modern illustrations.

  • Can I find regular online slot machines with slot symbols like free spins, wilds, and scatters at BTC casinos?

    You're likely to find slots very similar to FIAT games, but some slot games offered on crypto sites may vary from what you're used to, some may even be unique because they are exclusive with all rights reserved to the site. Regardless of this, you're likely to see slots and slot symbols akin to traditional online slot machine designs with regular slot symbols like wild, scatter, and free spins appearing across the reels.

  • Are there land-based Bitcoin slot machines?

    Yes, as of 2018 there is one terrestrial establishment offering BTC slots and gambling - the Merit Hotel Nicosia in Cyprus, and there are also machines called SmartBoxes for BTC for gambling games that are in their beta phase of testing, but for the most part, you'd usually head over to an online casino to play BTC slots. The reason there are few land-based slots is because of jurisdictional limitations and regulations on the use of BTC and other cryptos, but who knows, perhaps land-based slots won't just be for show, and they will become quite popular in the future.

  • Why do many BTC casinos use .io web addresses instead of .com web addresses?

    The .io is particularly well-liked among the tech-savvy, hence why this web address gets chosen by online BTC gaming establishments that target the younger tech-savvy generation.

  • Who created the BTC cryptocurrency?

    BTC is the first, and thus most popular, decentralized cryptocurrency. It was created by its mystifying anonymous creator who goes by the pseudonym "Satoshi Nakamoto."