The Pros of Playing at Japanese Online Casinos Using Bitcoin
Besides making casino gaming easily accessible, online gambling provides players with a multitude of options.
14:26 22 June 2020
From a plethora of casino games to choose from, including virtual and live dealer games, to the ability to enjoy playing while on the go, online casinos offer gambling enthusiasts entertainment, convenience, and much more.
Today, many Japanese online casinos support a host of payment methods and currencies, with Bitcoin as one of the most revolutionary virtual payment methods to emerge in recent years.
If you’re interested in Bitcoins and Bitcoin gambling, read on as we talk about the benefits and drawbacks of playing at Japanese online casinos with Bitcoin, and decide if a Bitcoin casino might be perfect for you.
What are Bitcoin Casinos?
Japanese online casinos accepting Bitcoin currency (BTC) as payments are increasing dramatically, allowing players in Japan to enjoy hundreds of games that they can play online using Bitcoin.
Unlike traditional casino sites that support conventional currencies such as USD, JPY Yen, and Euros, Bitcoin Casinos allow players to fund their casino account with Bitcoin.
Launched in 2009, Bitcoin is considered as the king of all cryptocurrencies and can be used to pay for goods and services worldwide. When making a deposit via Bitcoin, your Bitcoins are converted into a standard currency (say, for instance, Japanese Yen) and the deposit is processed in a similar way as you would deposit money using a debit card or any e-wallet.
Some gambling sites cater to Bitcoin payments along with other more traditional currencies and payment methods and are referred to as ‘hybrid casinos’, while there are some that exclusively cater to Bitcoins as means of payments.
How Do Bitcoin Gambling Work?
Bitcoin gambling does not vary greatly when compared to traditional payments. For the most part, you just need to set up your Bitcoin wallet and fund it with Bitcoins and find a trusted Japanese online casino that accepts Bitcoin payments.
You can fund your Bitcoin wallet by purchasing Bitcoins from Bitcoin exchanges such as Bitcoin.com Exchange, Coinbase, and CoinMama, to name a few. It’s even possible to earn them through mining them using your own computer.
Once you’ve funded your crypto-wallet and registered with a Japanese bitcoin-friendly casino site, you can head over to the cashier page. Choose Bitcoin as your preferred banking method and follow the rest of the procedure. You will get a string of code that represents the casino site’s wallet address that you need to paste into your Bitcoin wallet to complete the transaction.
Unless the casino does not support withdrawals via Bitcoin, the same step is used for when it comes to withdrawing Bitcoins from your digital wallet.
These days, you can find a variety of popular casino games offered by reputable bitcoin casinos, including bitcoin blackjack, bitcoin baccarat, bitcoin roulette, and much more. The key takeaway is always to stay safe and play on top bitcoin online casinos you can trust, which you can find easily at Casino Rank - and if you get this right, then pretty much the rest should be fine.
What are the Advantages of Playing at Japanese Casino Sites Using Bitcoin?
Now, let’s have a quick look at some of the advantages of making online casino deposits and withdrawals using Bitcoin.
- Enhanced Security and Privacy
One of the important advantages of gambling with Bitcoin is the high level of anonymity it offers to its users, allowing online gambling enthusiasts to keep things private.
While payments in traditional currencies allow for tracing and identifying individual players and casino operators, that isn’t the case with Bitcoin-friendly online gambling platforms.
This means that your personal and financial information will not be visible anywhere. You just need to provide the address of your cryptocurrency wallet (where your bitcoins are stored), and you’re good to go.
- Faster Transactions
Unlike conventional payment methods where you may need to wait for up to 48 hours for the transaction to complete, crypto payments are transferred peer to peer and are nearly instantaneous.
- Zero or Low Fees
Since Bitcoins eliminate the middlemen in the network, you are not subject to third party processing fees such as bank transaction fees. Even as you pay to get your transactions processed more quickly, still, the costs are significantly lower compared to traditional payment methods.
- No Legal Restrictions
In several countries around the world that are yet to legalize gambling, banks may refuse to accept payment transactions to and from online casinos. This is where Japanese Bitcoin casinos come in as an excellent choice. By gambling on a Bitcoin online casino based in another jurisdiction that treats gambling as legal, you can circumvent the law and still enjoy playing your favorite casino games online.
- Fair Gaming
Most of the reputable Bitcoin casinos use Provably Fair, an algorithm that lets players check the fairness of the games offered by the casino. To verify that a game is demonstrably correct and prove that its results aren’t tampered with by the casino or other players, you just need to enter the identification number of the bet placed and some other details depending on the casino you choose. This way, you can confirm that the game is fair and the results are completely random and not controlled by the Bitcoin casino.
- Offers Players Better Odds
No matter which Japanese online casino you choose to sign up with, one thing they have in common is the house edge, that is the built-in advantage in all casino games that works to the casino’s favor. This is essentially how online casinos make money.
When playing at Bitcoin casinos, you can expect the best odds and payouts. In fact, they offer the lowest house level compared to traditional casino sites, varying between 0.5 and 3%. Additionally, most Bitcoin casinos offer a wide variety of bonuses and promotions as a way of promoting their gambling platform and give players more reasons to keep coming back to their site.
Drawbacks of Bitcoin Gambling at Japanese Online Casinos
Despite a considerable range of inherent advantages, Bitcoin gambling comes with a couple of disadvantages that are worth considering, too.
- Limited Casino Choices
Japanese online casinos that support Bitcoin as a deposit/withdrawal method are still relatively few. This can somewhat limit your options and you may occasionally find that the casino games that you wish to play are simply not available from any Bitcoin-friendly Japanese casinos.
- Bitcoin Value is Highly Volatile
As with other cryptocurrencies, the value of Bitcoins tends to be very unstable. Its value can change a lot within just a short span of time, that using it can be in itself a gambling per se. If it moves positively, then this is in your favor. But if its value plummets, you would lose your money just as quickly.
- You May Not Have Legal Protection
While it’s being unregulated by the government is considered as a boon, this can also work as a double-edged sword. If the online casino has an issue or shuts down taking your Bitcoins, you won’t be protected by the law in your country and there are few avenues of remedy available to you as a player.
There is a growing number of Japanese-friendly online gambling platforms where you can enjoy playing casino games using Bitcoin and other digital coins. Once you have weighed up all the pros and cons of Bitcoin gambling, choosing the best Japanese online casino for you should be significantly easier. Ensuring the deposit and withdrawal process is transparent, no matter what method you go for, is critical, as is checking that the online gambling platform you choose is safe and reliable.
Overall, the use of Bitcoin eliminates some pain points that keep Japanese online gambling enthusiasts from being able to fully enjoy playing casino games online. But, as with everything, Bitcoin gambling also comes with certain vulnerabilities, particularly as a new and not yet widely accepted payment method. But come to think of it, isn’t this usually the case when we talk about revolutionary innovations?