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Lucky nugget online bitcoin casino review

As we mentioned at the beginning of this review CryptoReels prides itself on being an online casino that accepts Bitcoin as a form of depositfor some of its games. The service also allows customers to purchase Bitcoins for a variety of items including game time with an interest rate of 0.3% per month.

CryptoReels has grown significantly since first opening its doors in late 2014. Today the company has a user base of almost 5 million users that have bet more than $600 million in Bitcoin.

How Do Bitcoin Casinos Work?

When a Bitcoin casino operator accepts Bitcoin as a form of payment, they essentially act as a Bitcoin merchant. Once a customer places a transaction on the Bitcoin casino’s Bitcoin order book, then the Bitcoins transfer to the casino’s account. From there, the casino’s software sends Bitcoin-based money immediately to the appropriate player’s Bitcoin address that has been given to the casino.

There are plenty of advantages to being a Bitcoin casino operator. Bitcoin payments are currently processed faster than regular credit card payments. This allows casinos to process faster transactions while offering customers superior customer service.

For instance, when a customer places a Bitcoin casino order, the casino has no access to the customer’s credit card information. Bitcoin payments don’t involve credit card companies in the first place so players don’t need to pay higher fees on credit card purchases.

When does it make sense to use Bitcoin as a casino operator? If you have money invested in Bitcoin, then you should consider accepting Bitcoin as a form of payment at your existing Bitcoin casino. There are plenty of other online casinos that also accept Bitcoin as a form of payment.

Here’s a chart with Bitcoin casino operators by county.

Where Can I Spend Bitcoins?

There are many legitimate merchants you can use Bitcoin to purchase as well. While many merchants accept Bitcoin, not every retailer has accepted Bitcoin. Bitcoin businesses use the crypto-currency much like traditional businesses in the form of a currency transfer.

Instead of sending credit card payments to a store, Bitcoin stores send Bitcoins to merchants for purchase. Many Bitcoin stores are focused on Bitcoin-only purchases as they are a better alternative than credit card processing fees. If you’re already selling items for Bitcoin on a Bitcoin casino, then the processing fees are very low. Bitcoin transactions are currently the fastest way to transfer dollars or euros around the world without having to worry about chargebacks.

When you add in that Bitcoin casinos take 5 to 10% fees on any transactions they process through the Bitcoin network, then this allows for Bitcoin casinos to offer the best Bitcoin casino services and get as much exposure as possible.

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