What is bitcoin and how it works?

The Bitcoin system was created in 2008 by a fabled Satoshi Nakamoto, an individual or a group of people whose true identity is still unknown. The Satoshi’s White Paper published that year explained in details the principal ideas of Bitcoin and the revolutionary technology that stood behind the digital coins. As peer-to-peer electronic cash, Bitcoin solved a notorious double-spending problem and offered a fresh approach to ‘trusted third parties’. As opposed to conventional currencies minted and issued by banks, Bitcoin is not governed by any institution or regulatory body. ‘Bitcoin’, a currency unit, circulates only within a computer network and is generated as a result of complex mathematical procedures that is traditionally called ‘mining’.

Bitcoin in simple terms

A bitcoin does not work as dollars, euros or other fiat currency – it is not traded in a physical form. In fact, a bitcoin is a chain of electronic signatures that exist only online. Every bitcoin owner transfers bitcoins by digitally signing the previous transaction, and this information is added to the end of the chain. In simple English, a bitcoin consists of the list of all previous owners and transactions. The key advantage of this scheme is that it cannot be falsified since all the transactions between peers are put into blocks and announced publicly to the entire network.

The blocks are organized into a blockchain or a huge public ledger that includes records of all transactions ever made by bitcoin owners, and this underpins the main drawback of Bitcoin; the ledger becomes more sizeable over time and it requires more computational power to process all previous bitcoin transactions. At the time of writing, the total blockchain size was 155 Gb and it keeps growing by about 5 Gb monthly.

Bitcoins are transferred directly between participants without a third party involved. In case of physical currency, there is a regulatory authority or a central bank that is held responsible for maintaining a legitimate nature of all transactions and taking measures against counterfeiting. Bitcoins work different: there’s no central entity to manage digital transactions and their verification is conducted by all participants in the bitcoin network who run a special software. To avoid double-spending, that is paying the same bitcoin more than once, all validated transactions are timestamped in order to prove the time of each bitcoin move in chronological order.

A bitcoin is a currency unit that has a ticker symbol of BTC or XBT. Smaller units are named an mBTC (a one-thousandth of a bitcoin or 0.001 BTC) and a satoshi (a one-hundred millionth part of a BTC).

What is bitcoin mining?

Paper currencies are regularly minted and brought to circulation and the number of dollar or euro bills steps up regularly. The Bitcoin system was mathematically established in a way to limit the total number of bitcoins that can ever be created to approximately 21,000,000. Recall that cryptocurrency is not minted – new bitcoins are ‘mined’.

Miners are individuals or big bitcoin farms that provide computing power of their devices to verify that new transactions within the bitcoin ecosystem are valid. Miners arrange new unspent transactions into blocks and try to solve a complex and time-consuming mathematical task of finding a number, known as a nonce, that lies in the range between 0 and roughly 4.2 billion. That number must produce a specific result when passed through the hash and combined with the block content. It takes about 10 minutes to confirm a block and one of the miners who contributed to the process receives a certain amount of bitcoins as a prize. Mining involves the use of computation power, which entails expenses on electricity consumed by the computing hardware, so the bitcoins awarded for solving the math task is a kind of incentive to miners. According to estimates, around 80% of all bitcoins have been produced so far, and the number of bitcoins granted to miners as a reward will be going down.

Irreversible transactions

It is not impossible to cancel a bitcoin transaction after being sent since no one has control over the system. So a sender needs to double-check every detail (a recipient address and amount) before clicking send. Failure to do this can result in the funds being channeled to a wrong recipient without any chance to retrieve them.


Every bitcoin owner has an automatically generated private key which is tied to a specific digital wallet and is used to send cryptocurrency. A private key is a string of 64 characters (numbers 0–9 and letters A–F) related to a bitcoin address. If cryptocurrency needs to be received, the recipient informs his bitcoin address, also known as a public key, to the sender. If bitcoins need to be sent, the sender uses his private key to digitally sign the transaction and transfer an amount of bitcoins to the recipient’s address. The public-private key pair is absolutely resistant to brute force, and the digital coins can be transferred only by the person who knows his unique private key. So it is of importance to keep the keys in a safe location: on a hard drive, USB flash drive or on paper.

Anonymous transactions

Chapter 10 in Satoshi’s White Paper is about privacy. It reads that the conventional banking model maintains a proper level of privacy by not disclosing the names of the parties involved in transactions. But as identities are always linked to transactions, some information can leak out due to bank security breach or hacking. In Bitcoin, the network participants can see that someone moves digital coins to someone else but the identities of both are unknown. However, the Bitcoin’s anonymity is not full because there are some methods allowing to link a bitcoin address to its owner by tracing all related transactions. That is why, Bitcoin is considered to be a pseudonymous system, not the anonymous one.

To stay on the safe side and avoid your privacy being compromised, it is worth to follow these simple advice:

  • Do not publish a personal bitcoin address online, especially in tandem with your name.
  • If you are a U.S. resident, avoid purchasing bitcoins for USD at national exchanges (the ones that are based in the United States). They are subject to money laundering laws and other digital currency regulations so they require users to prove their identity by submitting scans of their IDs. When a U.S.-based user then transfers money to an online casino account or withdraws BTC therefrom, the transactions become associated with a user’s identity, thus breaking his/her anonymity.
  • Consider options other than keeping BTC in online wallets because they can leak personal details (IDs, IP addresses and other information) to third parties.
  • Use Tor browser or VPN when purchasing and transferring bitcoins, to hide your true identity.

Slotocash Bitcoin Casino Review

In 2017, Slotocash celebrated their 10th anniversary of online presence in the industry. With the solid track record and mainly positive feedback on online gambling resources, the casino looks a bit dated by today’s standards. Nevertheless, they stay a reliable platform for the customers who reside in the USA and prefer using bitcoins for betting purposes. You will love the fact that the casino is offered in an instant-play and download version, both are fully functional and contain identical features but the downloadable casino application is less sensitive to connection speed so it may suit the users who have signal issues.

Bitcoin banking

Slotocash is not a bitcoin-only casino as it also accepts regular, fiat money such as USD and EUR. But since cryptocurrencies, especially BTC, become more mainstream, the casino has recently integrated bitcoins into their payment methods and now users of the United States who value easy and rapid-fire transactions may deposit, bet and withdraw bitcoins. Deposit limits are not mentioned specifically anywhere on SlotoCash website but withdrawal limits are expressly stated. The max amount for bitcoin withdrawal is $2500 per transaction and $5000 per week (in BTC equivalent) – the casino management reserves the right to elevate the upper limit depending on the player’s VIP level. Payments are stated to be processed within 48 hours but experience has shown that bitcoin payouts take far less time.

SlotoCash games

As one of the most popular US facing online casinos, Slotocash offers a collection of RTG (Realtime Gaming) solutions. This software vendor was founded in 1998 and its games include traditional 3-reel slots, awesome 5-reel slots with topnotch graphics and a diversity of table games. Some slots based on a 5-reel architecture, have basic play since they were developed many years ago. But there are many games that feel fresher with bonus rounds, various types of wild symbols and free spin features.

SlotoCash contains dozens of progressive slots from RTG; these cannot boast multi-million wins and huge popularity but they’re still great fun and offer good winning possibilities. Among the most famous progressive slots are Aztec’s Millions (seeds at $1M), Spirit of the Inca with five progressives and Megasaur (seeds at $1M). To sum up, RTG has so far released over 50 slots with a built-in progressive jackpot, and over half of them are available at SlotoCash. What’s more, this type of game is offered both for real money and in practice mode.

Among table games are 8 blackjack variants (classic blackjack, blackjack with the Perfect Pairs side bet, Face Up 21), American roulette, European roulette, craps, keno and numerous variations of video poker. All games are published in alphabetic order and are thus easily located in the game grid. Besides, the Search Games feature allows finding a specific game by entering its name.

Realtime Gaming releases new slots at quite regular intervals so chances are you would encounter a couple of RTG novelties when checking back the casino.

Five welcome bonuses

The welcome offer comprises five deposit bonuses that are subject to a $20 qualifying deposit each before claiming. You get a 200% bonus on top of your first deposit, 100% to your second, third and fourth deposits and 177% to the fifth deposit, with the maximum of $7777 in total. The welcome package falls under the category of sticky bonuses, meaning that a bonus amount is added to the deposit to become part of a Bonus Balance that cannot be withdrawn until the wagering requirements are met. In case of each of the five bonuses, the WR is x30 or x25 (see casino rules for more details).

Daily promotions

Those who are into slots will be impressed with abundance of daily bonuses that vary in bonus percentage, rollover requirements and a qualifying deposit, for example, a 100% deposit bonus ($25+), a 225% deposit bonus ($300+) and an instant 25% cashback claimable via chat. As a rule of thumb, the daily bonuses are claimed by entering a certain redeem code in the personal dashboard. Casino managers often add new bonuses that come with free spins and are confined to the release of a slot or some public holiday. More info on current and past bonuses is readily available on their Promotions or Blog page.

Comp program and VIP Club

There’s a fairly typical comp program that enables casino users to gather comp points automatically whilst betting real money. Every $1 wagered brings ‘Sloto Points’ that are then converted into real money at the exchange rate of 100 to $1. Comp points are the key factor that affects the player’s progress along the VIP ladder. Active depositors and bettors may eventually become VIP Gold, Platinum or Diamond members and enjoy a plethora of special options and privileges that are provided as part of VIP treatment only. These include:

  • VIP daily deposit bonus with a x25 rollover
  • Weekend Jackpot Bonus – this deposit bonus includes progressive slots for playthrough purposes
  • Monthly cashback, which is based on net losses incurred during a month
  • 35% or 50% Instant Cashback on lost deposits with no maximum cashout
  • Exclusive offers
  • Quicker withdrawals.

Having 3000 comp points unlocks access to SlotoShop, a kind of an e-store where users can exchange their comp points for some merchandise, devices, clothes, etc.

Daily freerolls

Casino users have free access to numerous daily tournaments that range from freerolls to tournaments with a very small buy-in of 5¢. A total pot that is shared among tournament winners every week reaches thousands of dollars.

Other features in brief

  • SlotoCash produces a paper-printed 32-page quarterly magazine featuring articles on gambling, lifestyle and entertainment. Digital editions of the magazine are published on the casino website
  • Support team helps with any queries and requests via email, phone and Skype. A 24/7 live chat is available on desktop and mobile
  • The main casino site is compatible well with mobile devices. Using the same login details as on desktop, the player can enter the mobile casino and enjoy over 60 HTML5 slots from Realtime Gaming. Depositing, bonus facilities and other important features remain functional in mobile environment.

mBit Bitcoin Casino

Established in 2014, mBit Casino was one of the first online casinos to accept deposits in bitcoins. They expanded their list of digital currencies at the end of 2017 and now the casino also enables users to play for Bitcoin Cash, Litecoin and Dogecoin. A splendid bonus program and slot tournaments in mBit are another pro that is so loved by their regular customers. Registration takes a few seconds since only three fields are mandatory on the sign-up page; a valid email, password and password confirmation. Once registered, the player is asked to pick the main currency to bet with, and this can be changed later in the profile page. Due to superfast registration procedures, users can get down to gaming in less than no time.

Online game providers and assortment

No wonder that mBit is among favorites with US players as it boasts over 700 games that come from Amatic, Asia Gaming, Belatra, Booming Games, Betsoft, Endorphina, iSoftBet, GameArt, Habanero, MrSlotty, Play’n’Go, SoftSwiss and Spinomenal – very few U.S. friendly online casinos can boast such a melting pot of game vendors. Slots and other games are readily available for registered customers only. The collection is often upgraded with new games for desktop and mobile play.

This immense gaming content is broken down by clickable (tappable) categories including High Stakes, Slots, Blackjack, Live Games, Jackpot and Table Games. Slots with high bet limits are additionally marked with the High Roller label for easy identification by players who like big stakes. Due to a large diversity of providers, you will find there 3D video slots, classic slots and progressive slots of different themes and designs. Latest slot releases are published in a separate section. With respect to table games, the casino features over 150 variants of roulette, blackjack, craps and baccarat with varying table limits.

The key provider of live dealer solutions to mBit casino is Evolution Gaming, an innovative software company that satisfies every spectrum of online casino users. Its creations range from classic 7-seat blackjack to punto banco and speed roulette. And again, only registered users are allowed to play and make bets.


The website allows American clientele to deposit and bet four cryptocurrencies including BTC (EUR deposits are also supported). The minimum deposit for bitcoins is 0.0003 while withdrawals are not limited in frequency or amount – you may withdraw any BTC amount during a day.

Welcome bonuses

There are three deposits bonuses offered to a new player and they are redeemed automatically upon depositing unless the player opts out of promotions. The first deposit bonus gives an extra 200% up to 50 mBTC, the second deposit bonus gives 50% up to 50 mBTC, and the third deposit bonus adds 25% up to 50 mBTC. Each bonus has a rollover requirement of x40 and wagering must be done only on slots within 30 days since activation of a related bonus.

Recurring daily bonuses

Those who play often at mBit casino will enjoy a package of daily bonuses that get unlocked on a specific day of the week. On Monday, a 50% reload bonus up to 200 mBTC awaits to be claimed. Wagering requirement for this bonus is x35. A similar bonus is active on Friday and this time you get 50% on top of your deposit, up to 200 mBTC, with the same rollover as for the Monday promotion. On Thursdays, the casino runs a 25% cashback bonus that is added automatically if the total amount of losses incurred during Thursday exceeds 0.1 mBTC. Players are asked to play through the cashback bonus five times.

Bitcoin Slots race

Tournaments, especially in a freeroll format, are the coveted entertainment for many slot enthusiasts as they keep on playing their favorite games and at the same time get the chance to receive a portion of the tournament prize pool. Each Bitcoin tournament runs for a week on an ongoing basis, and top 25 players with the highest scores are awarded 5 to 50 mBTC or up to 100 free spins each. Every player who has created an account at the casino is automatically enrolled – there’s no need to opt in for each slots contest specifically. Races of the same kind run separately for Dogecoin, Litecoin and Bitcoin Cash users. All tournament cash prizes must be wagered 5 times before they are credited to a real money balance.

Loyalty Program

Comp points are generated and added to your account automatically as you wager bitcoins in casino games. Collecting a certain sum of points, you can exchange them into cash or visit the mBit Gift Store and purchase some goodies for your loyalty points, for example, Bose headphones, a quadcopter, an Apple laptop or a Maldives holiday. Unlocking a new VIP tier (there are four of them: Silver, Gold, Diamond and Black), the player is granted 25, 50 or 75 free spins and a deposit bonus.

Mobile gaming

The website is optimized to work well on smaller screens of smartphones and tablets of most models. Users can easily conduct banking transactions, claim bonuses, chat with customer care and do other things at the casino without having to install a separate mobile app.

Casino features in brief

  • The only way to get in touch with support reps is a 24/7 live chat. No phone support
  • There’s an in-depth Bitcoin Guide that covers many related topics such as Bitcoin exchanges, history of Bitcoin, security and fees
  • Every month a random player is awarded a valuable prize as part of a VIP lottery. Enrolment to the lottery draw is fully automatic.

Is Bitcoin Gambling Legal in the USA?

Experienced players know how hard it is to find a reliable online casino that would serve U.S. citizens and the same refers to bitcoin gambling sites. The current legal framework in most of the United States DOES NOT expressly stipulate that betting bitcoins or other cryptocurrency in online casinos is illegal. To understand better whether bitcoin gambling is outlawed or not in the USA, let’s look at the most important applicable law that governs online gambling.


The Unlawful Internet Gambling Enforcement Act signed in October 2006 stipulates that banking facilities and credit card companies are not entitled to facilitate transactions related to online gambling. In other words, online casinos operating before 2006 were able to use the US banking system for their purposes but the UIGEA closed that opportunity. The Act forced some big and thriving operators like PokerStars that was among the most visited poker rooms in the U.S. to draw out of the market. To sum up the point, the use of banking system for gambling purposes is prohibited in the USA. The facts set forth above made some online casino operators shift their focus to non-traditional payment options like cryptocurrency, which does not violate the law.

Bitcoin gambling from players’ perspective

To put it briefly, no federal legislation makes online gambling illegal for players. Current laws prohibit casinos to ACCEPT wagers on the territory of the USA but there are no laws that would forbid individuals to PLACE bets. That is why virtually all bitcoin casinos are based outside the U.S. territory to circumvent the law and accept bets without violating any regulations. As for practical application of the law for players, Bitcoin gambling has three legal statuses in the USA depending on each specific state: it can be legal, illegal and not unlawful. Let’s explore this in details.

In what states bitcoin gambling is totally legal and illegal?

U.S. citizens who live in Delaware, New Jersey and Nevada are allowed to take part in any gambling activities including the use of bitcoins; these relate to depositing cryptocurrency into the casino, betting and withdrawing. The casinos providing service to residents of these states must use special geo targeting software to make sure the customers are physically located in any of the three states.

The only state that expressly prohibits online gambling activities is Washington. State residents may not use offshore gambling sites, register there and place bets in any currency, whether fiat or digital. Sure, the country has not enough manpower and resources to trace each player of the Evergreen State who visits and plays at offshore casinos but many gambling sites themselves restrict players from forbidden locations based on their IP addresses and other factors.

Why is bitcoin gambling considered ‘not unlawful’ in most states?

The majority of the United States neither legalized nor forbidden online gambling activities for ordinary players. To that end, players must abide by federal laws, particularly the Unlawful Internet Gambling Enforcement Act. In fact, this law does not clearly set forth whether any individual player is subject to prosecution for online gambling but there have been no charges or appeals against violating players for over 10 years since the Act became effective. And again, the Act is basically targeted against banks and online exchanges that process payments related to gambling activities. With this in mind, it’s always a good idea to stay alert and try to leave as little personal details as possible when buying bitcoins or sending them to an online casino. Below are a few tips on how to disappear from the spotlight and hinder the tracing of your identity:
– U.S. based exchanges are obliged to make their customers pass through KYC procedures. When registering, users have to upload their government IDs, utility bills and scans of some other documents to have their identity verified. Therefore, after purchasing bitcoins and then sending them to an offshore online casino, the transaction is tied to a specific name, thus it is easily traceable. To avoid this, consider channeling bitcoins through several middleman wallets with the casino as the final BTC recipient.

Gambling-related trends in U.S. legislation

Bitcoin gambling is not deemed to be unlawful in most states; however this is a hot topic in some states that still arises disputes and may eventually lead to some bans or liberalization, so the information in this review would not reflect the actual legal environment after a while. So before registering at any online bitcoin casino make sure the territory you are physically in does not prohibit online gambling.

On congress.gov, there is the Restoration of America’s Wire Act bill that was introduced in House in February 2015 and cosponsored by 26 Rep. senators. If passed, the Act will force all internet gambling businesses in the USA to transmit all wagering information to authorized bodies. This further means that the three states that have legalized online gambling will very likely discontinue servicing U.S. customers.

Ignition Bitcoin Casino Review

Ignition is a go-to gambling destination for US casino fans who want to use bitcoins for betting on slots and other games. Featuring an extensive collection of Rival and RTG games, the casino offers a real-money gaming experience and practice play, all available instantly in a browser without having to install a casino app. Design-wise, the website looks crisp, alluring and professional on all screens, with the prevailing orange and grey tones that look appealing to the eyes. Ignition features almost everything you would expect to find in a typical US friendly casino: a variety of game types, regular promotions, tournaments, approachable customer care and easy-to-understand bonus terms with no fine print.


If you choose bitcoins as the principal payment method at the casino, you get a number of benefits pertaining to this cryptocurrency. First off, BTC withdrawal terms are much friendlier as compared to regular currencies and payment methods; you are allowed to make one withdrawal per three days at the maximum amount of $9500 per transaction. After approval of a withdrawal request from the casino, BTC are normally delivered within 15 minutes as against fiat currencies that usually arrive within 2 to 5 days. The casino introduces a $10/$5000 deposit range (in BTC equivalent) per transaction but the number of daily transactions is unlimited.

Game assortment

Alongside the gaming suite from Rival and Realtime Gaming (RTG), Ignition invites you to enjoy a collection of exclusive video slots designed by their in-house development team and distributed only in a limited number of affiliated online casinos. There are over 200 classic, five-reel and progressive slots, each accompanied by a detailed description of its features.

RTG games of the Real-Series boast random jackpots (RJ) that range from $1000 to $10,000 and greater. Some examples of RJ slots are Red Sands, Sevens & Stripes and Tiger Treasures. A jackpot is awarded absolutely at random – when you don’t even think of winning it – and you have to do nothing but spin at any stake level. Games with a random jackpot are grouped in the Real-Series category that you can find in a drop-down list on the Slots page. Another good thing is that all RJ slots let you play for free. Table games at Ignition are also diverse and include classic blackjack, single-deck blackjack, Zappit blackjack, blackjack with side bets, European roulette, American roulette, classic craps and baccarat variants. In the Specialty Games section, you will see around 10 bingo games, keno and scratch cards.

As a bottom line, the game range is good enough for a US friendly casino and would cater to most needs, budgets and interests. Special mention should be made of the practice mode that is available for both guest users and registered customers at Ignition.

Bitcoin welcome bonus

First-timers who make the first bitcoin deposit into the casino, are entitled to claim the 200% welcome bonus up to $2000, which has to be played through x25 times (B+D). Players have as many as six months to meet all the rollover criteria for the bonus.

Other bonuses and rewards

Every time you top up your casino account with bitcoins, Ignition offers an optional 25% reload bonus up to $1000. Playthrough requirements for this bonus are extremely low, with only x10 times (D+B amount). Some games like baccarat and blackjack are excluded from the bonus contribution list but all slots do count.

Any losses from playing at the casino are subject to a daily cashback that varies between 6% and 15% based on the player’s VIP level. To qualify, the player needs to have less than $10 in his account. Upon making a x1 rollover on the cashback funds, the player can use them anywhere in the casino.

Players earn ‘Ignition Miles’ when placing real money bets and every $1 wagered on slots gives 5 Ignition Miles. Collecting miles, you move up the eight VIP tiers (Steel to Diamond) and get some benefits with each new tier, including a higher cashback percentage or more lucrative Mile/Dollar redemption rates. As an example, players of the entry level have a 6% daily cashback and a $1/2500 miles exchange rate, whilst Diamond players (the top tier) enjoy a 15% cashback on losses and a $1/1000 miles rate. Rollover for bonus money obtained from Miles is x10. What’s more, a VIP status that the player has reached remains intact and is not reset to zero even if the player quits and resumes his gaming activity after a long time away.

Mobile experience

While 60+ Ignition games can be enjoyed on an Android or iOS mobile device, you can also perform nearly the same functions as you would if playing on a PC platform, including logging in, payment, playthrough of bonuses and more. Their mobile casino version is completely up and running, offering action-packed experience anywhere, anytime, at your fingertips.

Customer support

For any urgent issues that require immediate response, players are encouraged to contact a support agent on a 24/7 live chat. A Help section made in a Q&Q format can also be useful in trying to come to grips with different casino aspects. Other communication channels include an online form and emailing.

How to buy bitcoins

Before buying bitcoins, you need to set up a wallet to store the cryptocurrency you are going to purchase. A detailed guide on bitcoin wallets is available on this website so give it a glance or do some research yourself, pick the most suitable type of wallet and set up an account with there. In a nutshell, bitcoins can be purchased on online exchanges or directly from a person with cash.

Bitcoin exchanges

There are many hundreds of online exchanges that differ in security levels, reputation, buying limits, fees and many other criteria that need to be checked before opening an account. The largest and most trusted exchanges that work in the United States are Coinbase, CEX.io, Bitstamp and Bitcoin.com, all of them accepting USD payment via a credit card and/or Paypal. Virtually all exchanges establish fees that differ across the network and all of them have detailed rules and guides helping customers create an account and execute a buy or sell transaction. After the funds have appeared on your account, it is strongly recommended to move the bitcoins to a wallet that you should have set up at the very first step. Here goes a short outlook on the recommended BTC exchanges that serve U.S. citizens.


Located in the USA, Coinbase is often listed as one of most influential blockchain organizations worldwide, operating as a cryptocurrency exchange and web wallet. The exchange supports trading fiat money for BTC and reverse, and allows for connecting the wallet to a user’s bank account or debit/credit card. Among supported payment methods are PayPal (for selling of BTC), bank account (buy/sell) and Visa/MasterCards (for buying of BTC only at a 3.75% convenience commission). The website has an intuitive interface but support fails to respond quickly. Coinbase is a respectable company and is recommended to online casino customers of the U.S.


Kraken is a reliable exchange and one of the oldest bitcoin exchanges in the business with quick deposits and withdrawals. The system does not support bank cards – U.S. customers can deposit dollars by wire transfer from a personal bank account, and the fiat dollars are then exchanged into bitcoins with fairly low fees charged.


It supports on the fly transactions thanks to a mobile application for both Android and iOS. To buy bitcoins, a registered user must place a buy order, make a USD deposit via wire transfer or credit card, wait until the funds arrive and then buy bitcoins. The daily and monthly purchase limits are $5000 and $20,000. For credit card purchase, the exchange incurs fees of 5% to 8%, and for international wire, the USD deposit fee is 0.05%.


Gemini position themselves as the next generation exchange and reliable custodian, much due to keeping customer’s USD deposits in American banks insured under FDIC. To buy BTC for USD, a user needs to link his bank account and then perform a wire transfer or make an ACH payment. Gemini applies no charges on wire transactions.

Buying bitcoins with cash

Buying cryptocurrency with cash is another option of obtaining bitcoins, which has some advantages. First, in many cases you can receive BTC much quicker than you would if using exchanges. Second, some options such as peer-to-peer transactions are anonymous and include zero fees. But the downside is that you will not be able to purchase large amounts with cash. There are three ways of buy BTC with cash:

  1. Trading in person. LocalBitcoins is one of the best services to bring together bitcoin sellers and buyers. A user-friendly search facility will show you all sellers located physically in the same city or region as you. The service offers flexible delivery mechanisms, from meeting in person to bank transfer to PayPal. The minimum that can be sent to a LocalBitcoin wallet is 0.0002 BTC. Another popular marketplace of this kind is Wall of Coins that serves around 120,000 locations in the USA.
  2. Bitcoin ATMs. Use coinatmradar.com to find closest bitcoin machines near you. ATMs usually have variable maximum limits that depend on verifications, for example, anonymous users have the lowest limits. The general procedure of buying bitcoins via ATMs is the following:
    • buyer’s verification. As there are dozens of bitcoin ATMs on the market, the process is different depending on the operator settings (phone number check via SMS message, ID scan, fingerprint check, etc.) Usually, the greater amount is purchased, the more verifications are required.
    • providing a bitcoin address to place a BTC deposit on. Some machines can generate a brand-new wallet and print it on paper or send the bitcoin address to a user’s email. Other ATMs accept an existing wallet.
    • inserting money into the machine.
    • confirmation.
  3. Cash transfer at a bank or money transfer system. Many bitcoin platforms accept funds sent by Western Union, Perfect Money, AdvCash, MoneyGram and other electronic transfer services. Visit Cryptex24, a reliable crypto exchange platform to select the best USD/BTC market rate, make an order, send USD via a selected payment system and promptly receive what is due. Commissions for each trade vary between 2% and 8%. Another reputable platform that sells BTC for cash is BitQuick that features a 2% commission and a 3-hour period for bitcoin delivery to the buyer.

Considerations on anonymity

Almost every bitcoin user believes that transactions and a total workflow of bitcoins are conducted in such a way that guarantees absolute anonymity of peers. But the Bitcoin system, taken as a whole, is not anonymous by its nature – all BTC transactions are chained together and thus can be analyzed, identified and tied to specific persons involved in transactions. Those online casino customers who want to bolster their anonymity when buying bitcoins should select wallets and exchanges that require the lowest amount of personal information.

Every US-based exchange, e.g. Coinbase, asks U.S. residents to enter their SSN for verification purposes so a user’s name and his full ID goes on record, therefore, the anonymity of the user is broken at the stage of registering an account at a bitcoin exchange. The next step is buying bitcoins and even if you have given very little personal information at the exchange, bitcoins that you buy will be linked to your bank account if you pay with a debit or credit card. So full anonymity is hard to achieve; however, it is possible to reach a very high level of anonymity if following some simple rules:

  1. Select among the online wallets that are located outside of the United States. Some of the good web wallets are Bitstamp and Blockchain.info. Alternatively, use hardware wallets, e.g., Electrum that can be configured to connect via Tor (Note: some bitcoin sellers reject selling BTC if you connect via Tor).
  2. Give preference to exchanges that do not ask users to fill in their full name and a social security number, e.g., Kraken.
  3. Consider buying bitcoins with cash by means of direct contacts with the seller (see the LocalBitcoins platform) or cash transfer at a bank (visit the Paxful website that will show you the nearest bank to buy BTC for cash).

FortuneJack Bitcoin Casino Review

FortuneJack is an online casino that accepts 10 cryptocurrencies including bitcoins, offers an excellent selection of virtual and live games, has a decent bonus program, and is compatible with mobile devices. Signing up with the casino is quick and simple – the only mandatory fields in the registration form are your nickname, an email address and your password. You should specify your valid email address as they send a confirmation email with a link to verify and activate your account. They also undertake not to send you out newsletters and promotion offers if you check a related box during registration.

Games in FortuneJack

The casino has a well-balanced library of games that encompasses many types of games including slots, live dealer games, roulette, poker and blackjack. The greater part of slots comes from Microgaming, Betsoft and iSoftBet but there also some from Endorphina, Tomhorn, Amatic, Playson, Pragmatic Play, Gameart and Booming Games.

In the desktop casino version, each games section contains only 12 games and this contributes to comfortable browsing. Games are not arranged in any order and they cannot be sorted alphabetically or in any other logical manner; however, there’s a Search field to seek for your preferred slot by title. The field also accepts partial names, for example, searching for ‘Me’ will return all games with ‘Me’ in their title: Prime Property, Maritime Maidens, etc.

Slots featuring a progressive jackpot are put into a dedicated category and they include over 20 games such as the Glam Life, Mega Moolah and Greedy Goblins slots, a progressive Fortune Wheel, progressive bingo and keno. Above each title is a BTC value showing ever-changing current jackpot figures.

A live dealer collection is versatile, too, without any focus on specific games and providers. Here you will find live roulette, live blackjack, live baccarat and even some hard-to-find streams like Live Wheel of Fortune and War of Bets, both from BetGames who are famous for their highest quality broadcasts and a unique approach to familiar games, e.g. every card deal in BetGames’ baccarat ends in a betting round. Live games are for real money only but you can just open a live stream window and watch the action without joining it if you want so.

Some games such as Dice, Blackjack, Fortune Wheel, Fortune Slot, Keno and Bingo are provably fair allowing you to verify fairness of the game. Details on how it works are provided on FortuneJack site.

Lucky Jack daily giveaway

Every day, a registered user is encouraged to try his luck in the drawing with an instant prize of 10 mBTC for ten winners daily. The player just clicks on the button as instructed on the Lucky Jack page and the casino software determines randomly who the winners are. The drawing is reset at midnight so players can try again next day.


As is said above, the casino deals with cryptocurrencies only and does not accept fiat money like USD, EUR or GBP. A registered casino user is offered to make a deposit using bitcoins, litecoins, ethers and some other digital coins, both cryptocurrencies and tokens. Limits are set for withdrawals; it cannot be less than 2 mBTC or currency equivalents. No information was found on their website on how fast they process payments. If you have no bitcoins, you can buy some on the Indacoin exchange platform the link to which is provided on FortuneJack website.

First deposit bonus

Before depositing 2 mBTC, a new verified user is eligible to claim the 110% first deposit bonus up to 1.5 BTC and receive 250 free spins. The bonus needs to be activated in the My Account page as it is not redeemed automatically upon registration. The welcome bonus is to be wagered 40 times and the user has to deplete his real-money balance first before the casino begins to spend bonus money to meet the wagering requirement. Not every game contributes equally towards the bonus and even slots are not uniform in this regard – this difference is based on a specific RTP of the slot that the user plays. For example, a slot with a 95% RTP value gives 125% to the contribution of the welcome bonus. To get fully aware of these and similar provisions, please read their Bonus Terms and Conditions – the casino has no fine print and everything is clear about the promotions they offer.

Three reload bonuses

Within 14 days after registration, three reload bonuses can be claimed. Bonuses on the second and third deposits are worth up to 1 BTC each and the fourth deposit bonus is up to 1.5 bitcoins. Rollover terms are the same as for the 1st deposit promotion.

Jack’s Race

The casino gives away 2 BTC weekly in the Jack’s Races and this amount is distributed among top 50 players at the end of each week. There’s no opt-in needed to participate; each bet at casino slots is automatically converted into race points and the 50 bettors who have accumulated the most points during a given week become leaderboard winners.

Other bonuses

Wednesday is a special day for dice players since FortuneJack offers the Mid-week Dice Madness promo whereby a progressive jackpot can be hit if making 7 rolls of the same number in a row. Well, the chances for this are very low but any progressive jackpot is very difficult to win. There’s also a dedicated bonus for those who deposit Dogecoin. Check out their bonus page regularly as they introduce new offers more often than not.

Mobile play

Visiting FortuneJack via an iOS or Android mobile device, a user gets redirected automatically to an ‘m’ subdomain of the main casino site. The mobile version looks OK and its homepage is simple and clean with only four tappable buttons on show – Dice, Blackjack, Slots and Live Dealers. Other sections and categories are accessible through a traditional hamburger button and the number of slots is pretty sizeable though much lower than in a desktop version for obvious reasons. A user can deposit, withdraw and view his personal balance at his fingertips.

There’s a difference in how to get started in desktop and mobile versions. On the main website, a free play is allowed even without signing up or in, while in the mobile site the player is asked to sign up (in) first and then make a deposit in order to get access to games. Free gaming is not available on portable devices.

Bovada Bitcoin Casino Review

Bovada is a long-established consummate casino that accepts bitcoins alongside other currencies. Its games and banking methods are focused on U.S. bettors who are invited to create an account and play for real money or for free. The casino has an instant play browser version only that runs smoothly on desktop and mobile devices.

Online casino games

Bovada offers a moderate-sized collection of RTG and Rival games that proved their worth as high quality gaming solutions for every need and budget. Besides, the casino boasts several dozens of proprietary slots that are exclusive to Bovada and a few sister casinos that operate under umbrella of Salmon River Technologies Ltd. Five-reel and classic slots are diverse in their themes and features and will appeal to most players, whether registered or not. Practice play is also allowed on all games, including progressive slots but betting real money requires prior registration.

There are many local progressive slots, with their jackpots replenished by users of Bovada and a limited circle of other online casinos. That is why, the local jackpot pools are not that big as compared to network progressive slots that circulate at thousands of casinos at a time. Over 50 slots with progressive jackpots are offered in Bovada as of writing and most of jackpot values are under $10,000 but there are exceptions, for example, Shopping Spree (RTG) seeding at $100 000, Money Magic (Rival) with an average win of $90 000, and etc.

The Tables Games category comprises roulette, blackjack, baccarat and craps variants such as American roulette, Classic blackjack, Zappit blackjack (a unique variation where the player can exchange his hand for a new one when getting dealt a hand totaling 15, 16 or 17), European roulette and Double Deck blackjack.

Games in every category are shown in alphabetical order for easy spotting and the player can choose to display the titles in a grid or list format. A useful Search field is also available for looking for a specific game by name.


Surprisingly, the casino has a very limited number of payment options but if you want to deposit or withdraw bitcoins, there’s no problem. To help new bitcoin users get things going, Bovada published an easy guide of how to get a wallet, buy bitcoins and send them. The Rules of the casino state that no withdrawal and deposit limits are established whatever but the casino administration is entitled to introduce some at any time. Therefore, you have the right to cash out any amount of money up to the full balance.

Welcome bonus for bitcoin users

Bovada, to put it bluntly, could have designed a much better bonus system than is present at the moment. They do run some promotions on irregular basis but users who play there regularly may be a little dissatisfied with the lack of constantly available bonuses. Anyway, they have a great welcome package for bitcoin users that consists of three 150% match bonuses, each subject to a x25 rollover (deposit and bonus amounts). The highest bonus amount for the three bonuses is $4500 (in BTC equivalent).

Casino leaderboards

Bovada features a kind of ongoing tournaments that normally involve slots and blackjack. The tournaments start at a set time no matter the number of participants and the prizes are usually fairly small (around $10–$20) and come as bonus money that need to be played through. Upon joining the Leaderboard, the player is to earn as more points as possible on a specific slot or blackjack. Points are scored for winnings, for example, a normal win gives 5 points, while an ‘epic win’ – the one that is 50 times higher than the original bet – gives 25 points. A tournament usually lasts about 5 to 20 minutes.

Bovada rewards

The casino has a loyalty program that awards players for betting on slots and other games, for example, spending $1 on slots brings 5 loyalty points. The collected points are then exchanged into bonus money at a specific rate which depends on a player’s level. Daily cashbacks are arguably the most alluring aspect of Bovada rewards since the cashback percentage depends entirely on the player’s level and varies between 5% and 15%. Cashbacks are issued daily in the form of bonus money in case the player’s balance is below $10, and these bonus funds need to be played through x1 time only.


There’s a chat window for real-time conversations with a customer support agent. If an issue is not urgent, a user may send them a message by filling in an online form. Alternatively, the customer service is reachable at a toll-free 1-888 number.

Other features in brief

  • A large number of articles on different topics that might be of interest to a broad audience of bettors. These include reviews of games with the lowest house edge, explanations of bets in craps, guides to baccarat and much more
  • A FAQ page on general, finance, bitcoin, bonus and other questions that players might have
  • VIP treatment for the most loyal bettors, including weekly deposit bonuses, exclusive offers, personalized customer service and more. Get detailed info about it on Bovada’s Red Room page
  • 200% Referral Bonus up to $100 with a x30 rollover.

Best bitcoin wallets

A bitcoin wallet is similar to a bank account that you use to keep money and make transactions. Every bank account has a specific number that you inform a person who is about to transfer you money. As for the cryptocurrency environment, a bitcoin wallet has a public address that consists of a sequence of numbers and letters, which can be submitted to the party you want to receive a payment from. No one forbids you to go with more than one bitcoin wallet. If you are looking for a way to store your digital coins, you should know there are several types of wallets that range in cost, accessibility, security, anonymity level and some other aspects. Before setting up a wallet, you should think of how you are going to use bitcoins and make up your mind which type of wallet suits you best for a specific purpose.

Types of bitcoin wallets

There are two big subgroups of bitcoin wallets: Cold and Hot wallets. Cold wallets have no connection to the internet all the time and for this reason they are deemed to be more safe and carry less risk of being hacked. Hot wallets are always connected to the internet and provide easy access from a smartphone, PC and other user device. These are considered less secure as compared to cold storage wallets. Let’s have a look at each of the wallet types.

Online bitcoin wallets

Online, or web wallets are very attractive and comfortable for most users, especially newcomers, because of their accessibility, easy handling and very low cost. No downloads and installations on a user’s device are needed because they are hosted on a remote server and are accessed from a desktop, smartphone, laptop and any other device that has an internet connection. Online wallets are a good choice for not tech-savvy users or those who are going to have smaller bitcoin amounts. Because online wallets can be vulnerable to malicious cyber attacks, you need to entrust your bitcoins to proven services with good track record. In general, web wallets are a recommended pick for most users who are not going to store large amounts of cryptocurrency. Most experts discourage from leaving significant bitcoin amounts in online wallets and using them for long-duration storage.

Desktop bitcoin wallets

This is a hot storage option and is recommended only if the highest level of security is maintained for the device the wallet is on. If a desktop client wallet is installed on a PC, the routine operations online and browsing enhance the likelihood of infecting a device with Trojans and other malware or spyware that can subsequently steal your bitcoins. So if your PC is compromised with a malware problem, your digital wallet might be at a big risk.

Mobile bitcoin wallets

Smartphone wallet applications are handy when used for instant payments in restaurants, hotels, airports or corner shops, for some smaller services. Mobile wallets are usually less secure than other wallet types and the abundance of mobile apps makes it a challenging task to pick a trusted app for your device. It is recommended to avoid placing big sums onto a mobile wallet but use it as pocket money at land-based businesses that accept bitcoins. Online casino users can deposit their personal account at the casino via a mobile bitcoin wallet, too.

Hardware bitcoin wallets

In case of hardware wallets, bitcoins or other cryptocurrencies are stored on a separate offline device that is not exposed to online vulnerabilities. Private keys are normally stored on a hardware microcontroller and are immune to viruses, however the device can be physically stolen, which is arguably the only downside to hardware wallets. Anyway, hardware wallets are considered to be the most secure way of storing bitcoins and are perfect for considerable trades.

Paper bitcoin wallets

Keeping a private key printed on a piece of paper is the easiest and one of the safest ways to avoid tampering with your bitcoin wallet. The concept behind this approach is elementary: the code to your wallet is always created while offline and is stored on a physical media, not electronically. But paper is a very unreliable information carrier since it can be worn, spoilt and completely damaged, thus making information printed on it unreadable. Users who rather stick to paper as the means of keeping their private key are recommended to produce several copies of that piece of paper and put them in different locations. Unfortunately, every paper wallet can be cracked by a key logger spyware after you have typed the key on an infected device.

Brain bitcoin wallets

The software used for brain wallets allows a user to set their own passphrase consisting of 12 random words, instead of a conventional key generated by the wallet application. These 12 words must follow in the right order when entering the password. From the one hand, this seems to be a secure method as you can create a very strong password but from the other hand, attackers might use brute force computing methods to crack the password. Besides, the reality is that users tend to create less complex passwords than the ones generated automatically so brain wallets are recommended to advanced users who know how to eliminate related risks.

Top bitcoin wallets

Now that you know more about types of wallets, you can come to grips with what wallet you need for your current tasks. Normally, people have one or two wallets: a web wallet (a mobile app) and/or hardware wallet. For practical purposes, it is safer not to put all your eggs in one basket risking your money. It is a good practice to mitigate risks by breaking your bitcoins into several smaller parts and place them into two wallets; one of them would be for smaller sell/buy transactions and the other one, for example, a hardware wallet, will store most of your bitcoins.


This is one of the most popular, largest and reputed web wallets out there, which supports 32 countries as of writing, including the US. Coinbase has an Android and iOS mobile app in addition to a convenient web interface. Exchanging USD into bitcoins is made quick and easy, with just a few mouse clicks. Good news for US customers is that the amounts of up to $250,000 have an insurance coverage by the Federal Deposit Insurance Company. Creating an account with this service is free.

Blockchain wallet

Blockchain is another high-security free web wallet with the 2-factor authentication and multi-signature option. It has Android/iOS apps with a recently integrated feature of buying bitcoins on Android BTC wallets. The service stands out for its simplicity and intuitive interface.


This is a multi-asset desktop wallet with very high anonymity as no account setup is required. Private keys are stored locally at a user’s device. The service does not support USD exchange into bitcoins so you would have to buy BTC somewhere else, e.g. in Coinbase, and then transfer coins into the Exodus wallet. User’s savings are displayed in the form of a pie chart for visual clarity. A great thing about the wallet is that it runs on your PC and features a backup wizard to increase your control of assets.

BTC.com wallet

The BTC wallet is an open-source web wallet with a 2-FA login and great recovery options. The wallet is available for desktop, Android and iOS devices, providing efficient security and an advanced Multisig technology.


A free cold-storage wallet, Electrum (est. in 2011) is full of features that elevate security and anonymity. Private keys are encrypted locally and are not submitted to servers. Besides, private keys can be easily exported to other bitcoin services, and the Electrum platform is supported by hardware wallets like Trezor or Ledger. The two-factor identification involving TrustedCoin adds another layer of security to your bitcoin wallet.


Trezor is one of the best hardware wallets on the market that secures your cryptocurrency from being stolen. This is a small 30×60 mm device that connects to desktop or mobile via micro USB. In case of losing the device, the user is able to recover the coins and regain access to accounts with the help of a PIN and a 24-word seed key. It features a multi-passphrase encryption, a small display that shows important transaction details, a multiweb interface for making and receiving payments, and un paralleled level of cryptocurrency protection. The device costs around $100 and is available on Trezor official website or at Amazon.

Which type of wallet to choose for online gambling purposes?

If you are going to buy and transfer small bitcoin amounts, online and desktop wallets are the best instruments to keep your funds at. The downside to many web wallets is low anonymity, for example, Coinbase asks U.S. taxpayers to enter their SSN when creating the account so moving bitcoins to and from the online casino account is not completely anonymous for your identity, and so is exchanging fiat USD into BTC. A full 100% anonymity is still a challenge for bitcoin wallets but some hardware wallets can provide a higher level of privacy, for example, Electrum which is an SPV client with simplified verification procedures for unconfirmed transactions. In case you plan to deposit much into online casinos that accept bitcoins, consider getting a robust and fully autonomous offline cold storage (paper or hardware wallet).

7BitCasino Review

7BitCasino, with its deliberately retro design of its own, is a US facing online casino that allows betting bitcoins and has over 900 slots on offer. The casino is less generic in its appearance and will appeal to players who love Vegas legacy manifested here in every detail such as bulky slot machines, high-gloss vintage cars and other attributes of mid-century graphic design. Putting aside the design considerations, 7BitCasino is a game-packed no-download online casino with bonuses galore, provably fair games and slot tournaments.

Immense game collection

Abundance of software providers shown on the home page is what strikes the eye on the first visit and even thereafter. In an effort to attract avid gamblers of the USA and other countries, the casino is home to slots of all stripes, including these from Betsoft, Endorphina, Microgaming, Amatic, Net Entertainment, iSoftBet, Habanero, GameArt and MrSlotty. The games are located under four broad categories: Slots, Table, Jackpot Games and Live. For the players’ convenience, the slots can be filtered by provider and searched by name. Games are offered in two modes: for real money and for fun; whichever you prefer, registration is mandatory to start playing.

Slots are present in all varieties possible: from classic 3-reelers to modern 3D titles with diverse themes, designs and bet sizes to keep you interested for many hours and days. Along with regular slots, there are over 25 titles featuring progressive jackpots, chiefly from Betsoft and iSoftBet; these include, amongst others, Glam Life, Greedy Goblins, Mega Gems, The Slotfather, Basic Instinct (also available on mobile), and others. On the con side, current jackpot values are not displayed on the icons of related progressive slots in the lobby which is a little embarrassing. However there is an ever-increasing display showing
random jackpot games in an alternating order and their jackpot amounts ready to be hit.

Table game aficionados will find here a good collection of roulette variations (European, American and French roulette) and those who want to relax at a blackjack table can do this playing multi-hand and single-hand blackjack or classic blackjack. Some of these come in an HTML5 format and are thus compatible with mobile devices. There are also a couple of dice games and baccarat with low and high stakes on the table. If you are eager to delve into a totally new gaming experience, try live dealer solutions from Ezugi and NetEnt that are provided at 7BitCasino.


It’s common knowledge that bitcoins are secure, fast and anonymous and that is why they have increasingly become a popular method of payment in online casinos. In 7BitCasino, absence of fees on bitcoin withdrawals is another advantage of using the cryptocurrency. While cashing out money via Visa, MasterCard, Neteller and other payment processors present at the casino requires a fee of 0.5% to 2.5%, all bitcoin transactions come at no administrative or banking charges whatever. However, there are some restrictions that apply in respect of bitcoins. For example, the maximum amount of deposit and withdrawal must not exceed $5000 per transaction. There is no expressly stated maximum limit on how much a user is permitted to draw from their casino accounts but casino’s T&C clearly envisages that the casino reserves the right to set a $5000 cap on monthly withdrawals at its discretion.

Welcome bonuses

The newcomer bonus consists of four bonuses that are redeemed after the player has made a qualifying deposit of 0.0025 BTC for each bonus. The welcome package awards up to 5 BTC in bonus money plus you get 100 free spins in total. Not every game contributes on the same level towards wagering requirements. Bets on slots contribute 100%, live games contribute 0%, while all the other games count as 5%.

Three daily bonuses

The casino presents three bonuses that are available every week:

  1. Monday reload bonus. To receive the reload bonus, you need to deposit 0.0025 BTC to your account. The bonus is worth 25% with the maximum of 0.0025 BTC (x40 WR) with no maximum cashout applied, meaning that the player is allowed to withdraw all the winnings derived while playing through the bonus.
  2. 2) Wednesday free spins. Unlike the abovementioned promotion, the free spin bonus has the max cashout of 0.0025 BTC. To qualify and get 100 free spins, the player has to deposit 0.004 BTC or greater. Free spins are granted on only one specific Betsoft or SoftSwiss slot determined by the casino administration every week.
  3. 3) Weekend cashback. This useful promo is valid for the players who transferred 0.02+ BTC to their casino account and busted their balance to less than 0.0002 BTC during weekend. Cashback is added upon meeting the x40 rollover.

7Bit Racing

Regular contests or “races” as they are called at 7BitCasino is another incentive for slot fans to bet and play for real money at the casino. The concept of races is simple; every bet of 0.00015 BTC, or higher, brings race points, and whoever collects the most points becomes winner. Races run on an ongoing basis and each tends to last for 2–3 weeks. Cash pots are different across the races and the winner board usually contains about 20 participants who get a certain share of the total pot. No opt-in is needed – as soon as the player begins betting when the event gets underway, he is enrolled automatically.

Provably fair games

Due to cryptographic methods used at 7BitCasino, the outcome of each game becomes easily verifiable by a user. If you want to rest assured that any gaming session in slots, roulette and card games is governed and driven by an impartial random number generator, make an inquiry to the casino administration to obtain information on how to verify a specific game.