5 Things You Need to Know About Bitcoin Slot Machines
As Bitcoin and cryptocurrencies continue to grow, so will the applications. Bitcoin slot machines have become very popular and readily available online.
I will discuss some of the good and bad aspects of playing slot machines with BTC.
Depositing bitcoin is much easier than you think
You can complete this task in a few simple steps. Just buy BTC or any other compatible cryptocurrency through an exchange, and then use this exchange profile to enter the deposit area of the slot machine.
Your bitcoin funds will arrive in your gambling account within half an hour or less. You will then be ready to play BTC slot machines.
People have won huge bitcoin jackpots
One of the main reasons why people love to play internet slot machines is because of the huge jackpots. And bitcoin slot machines have paid out some very big prizes over the years.
Someone once won 11,000 Bitcoins, which (depending on the Bitcoin price) is potentially + $100,000,000 USD.
These prizes show that bitcoin slot machines are like any other slot machine in that you can win a life-changing payout.
Bitcoin slot machines must be demonstrably fair
Demonstrably fair gambling establishments inspire more confidence in their slot machines by giving you the opportunity to verify the authenticity of your bets.
Regular online gambling establishments require third-party verification to ensure fair play for their customers. However, demonstrably fair gambling establishments do not need this, as you are essentially the auditor. This is the difference between regular and bitcoin-specific.
Your browser sends the client seed, which interacts with the server seed to determine the spin results.
All of this works in unison to ensure that you and the gambling house agree to fair bets. There is no need for an external auditor, as demonstrably fair gambling houses ensure that no side can cheat.
This is great if you have ever been worried about online gambling houses offering faulty software that can cheat you.
Bankroll is completely unsafe
One troubling thing about playing Bitcoin slot machines is that you never know how much your bankroll may be worth from day to day. The price of bitcoin and cryptocurrencies fluctuates due to many speculative variables that are far beyond our control and understanding.
But you won’t face the same wild fluctuations when you bet with USD, GBP or the Euro. If you like a constant bankroll value, you may want to keep playing with fiat.
Bitcoin slot machine jackpots are just as big as regular ones
The biggest internet slot machine win of all time came in September 2018, when an anonymous Mega Moolah slot machine player won $20.1 million.
No one is saying that bitcoin slot machines can never offer jackpots that can compete with the biggest fiat payouts. But there is quite a gap between Bitcoin’s record of $1.5 million and the regular $20.1 million jackpot on online slot machines.
As more online slot machines converge with Bitcoin and cryptocurrency and gain popularity, the huge payouts become more mainstream and regular.
Conclusion
You may be surprised at how easy it is to get started with bitcoin slot machines if you haven’t played them before. All you have to do is buy your BTC from an exchange and send it to your favorite gambling site using the wallet address.
Perhaps the biggest adjustment is getting used to a fluctuating bankroll. I have discussed how BTC has increased and decreased many times in a single day.
If you can overlook the fluctuations in bankroll and the initial barriers to entry, you will be able to enjoy some important benefits of Bitcoin slot machines at an online casino.