If you are thinking about playing in cryptocurrency casinos, you must know why you should use licensed crypto casinos in 2022.
Read this article to find out the risks involved in unlicensed crypto casinos and the benefits of choosing the licensed ones.
Reasons to Use Licensed Crypto Casinos in 2022
Cryptocurrency casinos are on the rise in today’s modern era. With the whole world going online, the concept of casinos is also turning into virtual mode.
So, what exactly happens on these crypto casino online sites?
Yes, you got it right. You play games, place bets, and gamble but everything virtually!
Since this is happening virtually, using a virtual currency like cryptocurrency, you also need to focus if the casino is a licensed one.
There are many bodies that provide these licenses, in fact, according to the CryptoCasinos360 author’s opinion, Curacao is one of the most trusted licenses for Bitcoin casino gambling sites.
The reasons why crypto and BTC casino gambling sites have attracted players from all over the globe are as follows:
Convenient Process: It is very easy to sign up and participate in crypto casinos, and anyone from anywhere can do it.
Anonymity: Many people don’t feel proud about gambling in traditional casinos and yet want to experience the thrill it brings. This is why the element of anonymity is a boon for such players on these platforms.
Bonuses and offers: Exclusive offers are given on signing up, and let’s not forget the referral bonus you get if a friend refers you to the platform.
I am pretty sure that our traditional casinos don’t offer these benefits, so why not choose crypto casinos over them?
However, in the next section, I will warn you about the risks involved in such cryptocurrency casino online websites.
Beware of The Risks Involved in Working with Unlicensed Crypto Casinos.
Playing in an unlicensed crypto casino can pose a significant threat to your finances and personal information.
Let’s dive deep into these risks.
Your Account May Get Frozen
Unlicensed crypto casinos are continually operating at the risk of being penalized by legal authorities. Let’s say the government catches such a casino. Now, what happens to the funds that you had deposited in that casino’s wallet?
Naturally, all your assets will be frozen. Yes, it is indeed a nightmare.
Fake Casinos That will Lure You into Making Deposits
What will be my top priority if I run a fake crypto or BTC casino online intending to loot people? Yes, I will want you to deposit funds in my casino.
Such casinos might also show you attractive bonuses to make significant deposits and bang!
All your funds are gone.
Unfair Gameplay Designed To Loot You
Playing in a crypto casino means you have no idea what the outcome of the games you start playing in most cases will be.
What if a casino has designed their game so that you lose it as per their decision.
Such unfair gameplay can be a clever tactic to loot you as they will first let you win until you bet a significant amount, and then you lose everything. You can’t even complain to anyone as Bitcoin gambling is meant to be risky, and you were aware of that already.
Your Personal Information Becomes Vulnerable
Suppose you sign up for a crypto casino platform and it asks to provide some personal or financial details; what will you do?
Most of us will understand that this information is required for transactions, and without suspicion, we will enter all the details.
Now, the fraudsters gain control over your sensitive personal and maybe financial information.
They can now sell that information, demand money from you, or even hack into your bank accounts. Now, that sounds scary to me.
Once you are Screwed, The Law Might Not Be Able to Help You
Let’s say, you have already been cheated and lost your funds in a fraudulent online casino, now what?
To be honest, it will be tough to recover from that.
The legal authorities might investigate and even catch the fraudsters, but they can’t promise to recover your funds.
So, ultimately you will be left responsible for the lost funds with no one to blame it on.
What Are The Advantages of Playing with Licensed Crypto Casinos?
A little bit of intelligent work and research can help you avoid unlicensed crypto casinos and stick with the licensed ones.
You Can Trust Licensed Crypto Casinos with Your Funds
What is more precious than money in the gambling world? Probably nothing.
You can trust a licensed crypto casino with your funds, as you know they are operating on fair terms and conditions.
You can relax as you won’t face any transactional or withdrawal issues.
Safety With Sensitive Information
A licensed crypto casino is bound to follow specific guidelines that protect your personal and financial information.
In case they fail to do so, their license will be in danger.
This is why there is no fear of getting scammed or your sensitive information being leaked.
Customer Care and Legal Authorities Will Help you
If any anomaly occurs, you always have the customer support to fall back upon.
They will sort out most of your issues, even if it takes time.
In extreme situations where you think the crypto casino has been unfair to you, you can also seek legal help and file a complaint.
Trusted Licenses For Crypto Casinos
If you have obtained some wisdom from this article, you would want to educate yourself about the online casino licenses out there.
This section will help you in doing so.
Curacao: The Safest License in The Market?
The Curacao license is the first preference for many crypto casinos out there. Users consider this license to be one among the most legit and trustworthy ones.
Curacao makes it simple for the crypto casino platforms to obtain it. It is valid for around two years and usually can be obtained within a month or two. The organization charges platforms $36,000 initially and $6,000 later over two years based on monthly payments.
Montenegro: A Reliable and Premium License
Another very popular license is Montenegro.
It is considered to be a premium license with a hefty price tag of $390,000. Such a high price gives you an assurity that only serious crypto casino platforms will opt for this license.
Like Curacao, Montenegro can be obtained pretty quickly and is respected throughout the online gambling industry.
UK Licenses: Best Bitcoin Casino License?
If your crypto casino falls under UK jurisdiction, you will be glad to know that the British government has strict rules to verify the casinos.
All online casinos have to submit authentic documents to the Law &Trust department of the government. You will be surprised to know the government’s depth of verification. The owners need to verify the software developers and games carried out on the platform with separate certificates.
Additionally, all the owners and shareholders are also scrutinized before registering the casino in the UK. Until and unless the casino owners have experience in the gambling industry, they won’t be allowed to operate.
So yes, it is almost impossible for any fake crypto casino to get a license inside or even outside the UK.
Finally, I would like to point out that you are solely responsible for yourself and your funds.
The thrill of gambling might lead some players to overlook the possible chances of being scammed.
This is how a user usually falls into the traps of a fraud casino website.
However, a little caution can save you from a great deal of danger.
Now, I turn to you and ask you to drop your experience with crypto casinos.