5 Things You Need To Know About Bitcoin Slot Machines

As bitcoin and cryptocurrencies continue to grow, so will the applications that grow as well. Bitcoin slots have become very popular and online very readily available.

I’m going to discuss some of the good and bad aspects of playing slots with BTC.

Bitcoin Slots Must Be Provably Fair

Provably fair casinos instill more trust in their slots by giving you the option to check the authenticity of your bets.

Regular online casinos require third-party auditing to ensure fair gaming to their customers. Provably fair casinos don’t need this, though, because you’re essentially the auditor. This is the difference between the regular and bitcoin specific.

Your browser sends the client seed, which interacts with the server seed to determine spin results.

All this works in unison to make sure that you and the casino agree to fair betting. No third-party auditor is needed because provably fair casinos ensure that neither side can cheat.

This is great if you’ve ever worried about online casinos offering faulty software that can cheat you.

Depositing Bitcoin Is Much Easier Than You Would Think

You can complete this task in a few simple steps.

Simply purchase some BTC or other compatible cryptocurrency through an exchange and then use this exchange profile to move into the casino's deposit section.

Your Bitcoin funds will arrive in your casino account within half an hour or less. You’ll then be ready to play BTC slots.

People Have Won Huge Bitcoin Jackpots

One of the biggest reasons why people love playing internet slots is because of the huge jackpots. And Bitcoin casinos have paid out some very large prizes over the years.

Someone once won 11,000 Bitcoins which is equivalent (depending on the price of bitcoin) to potentially +$100,000,000.

These prices show that Bitcoin slots are like any other slot machine in that you can win a life-changing payout.

Bitcoin Slots Jackpots Are Just As Big As Regular

The biggest internet slots win ever came in September 2018 when an anonymous Mega Moolah player won $20.1 million.

No one is saying that Bitcoin slots can never offer jackpots that rival the biggest fiat payouts. But there’s quite a gap between Bitcoin’s record of $1.5 million and the $20.1 million regular online slots jackpot.

The more online slots converge and grow in popularity with bitcoin and cryptocurrency than the more mainstream and regular the giant payouts will become.

Bankroll Is Completely Insecure

One unsettling thing about playing Bitcoin slots is that you never know how much your bankroll may be worth from day to day. The price of bitcoin and cryptocurrencies fluctuate according to many speculative variables that are well outside our control and understanding.

But you won’t deal with the same wild fluctuations when betting with USD, GBP, or the euro. If you’re somebody who likes a consistent bankroll value, then you may want to continue playing with fiat.

Conclusion

You may be surprised to see how easy it is to get started with Bitcoin slots if you haven’t already played them. You simply need to purchase your BTC from an exchange and send it to your preferred casino using their wallet address.

Perhaps the biggest adjustment is getting used to a fluctuating bankroll. I discussed how BTC has increased and decreased widely within a single day many times.

If you can overlook the bankroll fluctuations and initial barriers to entry, then you’ll be set to enjoy some key advantages of Bitcoin slots.