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Sloto Cash

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Sloto Cash – The Classic Choice

Although many Bitcoin-friendly online casinos are focusing on modern things and innovations, fans of classic online casinos can nonetheless find a few that will cater to them by essentially adopting Bitcoins as a regular payment method while not changing anything on the side.

Sloto Cash are one of such casinos and we’re sure that they’ll be appreciated by everyone who wants to see old-school sensibilities coupled with the option to deposit and withdraw through Bitcoin. On the basic level, Sloto Cash are a completely traditional online casino that’s getting its games catalogue from Realtime Gaming (RTG) and that offers a plethora of bonuses and promotions on top of everything.

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About Bitcoin

As you probably already know, there’s a new kid on the block in the form of Bitcoins, which are supposed to be an alternative to traditional money. Their main selling point is that they are completely separated from all the authorities and governments, which means that they are basically the ideal currency for markets that are supposed to be completely free from outside influence. And they are certainly well suited to online gamblin, so long as the casino accepts bitcoin. In this article, we’re going to answer some of the most common questions that are popping out nowadays.

Who’s Behind Bitcoin?

While there’s no doubting that Bitcoins burst onto the scene in the year of 2009, there are virtually no certainties when it comes to the cryptocurrency’s inventor, who goes under the name of Satoshi Nakamoto. Well, perhaps that isn’t completely correct – it’s almost definitely true that Satoshi Nakamoto is just a pseudonym that’s used to hide the real identity of the system’s founder, who apparently wants to stay as anonymous as the users that are already using the currency for actual transactions.

Over the years, we’ve seen plenty of speculations regarding who Satoshi Nakamoto really is. A few of those speculations were more credible than the rest, but, as things stand, the mystery remains unresolved. Considering what virtually all the rumours led to, there’s a decent chance that the real Nakamoto will never speak out on his own, as doing so could lead not only to unwanted media attention, but also to some pretty serious dangers and investigations.

The last person that tried to claim Nakamoto’s identity was Craig Steven Wright, an Australian former academic that even came up with sophisticated proofs that were supposed to show that he understands the inner workings of Bitcoin better than anyone else. Unsurprisingly, the Australian Federal Police raided his home and business premises soon after he made the big announcement – and you’d need to be a very brave man to believe that the investigation was all about unresolved tax issues.

How Does Bitcoin Work?

Unlike traditional currencies, Bitcoins don’t really exist in the off-line world – you can have a paper wallet that contains Bitcoins, but you won’t be able to make any transactions with them unless you go online (well, you can give the paper wallet – in its entirety, as there’s no way to split Bitcoins off-line – to someone else, but that doesn’t really count, does it?).

In order to initiate a payment, you’ll need a bitcoin wallet and the public address of the bitcoin wallet that you want to send your Bitcoins to. All transactions are carried out within the so-called block chain, a huge chunk of data that includes all confirmed transactions. Making a payment essentially adds new data to the existing block chain, so nothing is actually being “sent”.

Importantly, no personal details are required for a transaction to take place, which makes Bitcoin payments completely anonymous if you follow the best possible practices (and the vast majority of web-based and software Bitcoin wallets follow them automatically).

Since all the transactions are processed on a peer-to-peer basis, there are no central authorities that would “govern” the Bitcoin network as such. That means that there’s no way for the governments to artificially decrease the value of Bitcoins – put simply, the value is completely market-driven. This naturally has a lot of advantages, but it does come with the small little issue of there not being anything that could stabilize the prices, which makes Bitcoin somewhat impractical.

Where to Buy Bitcoin?

Once you decide that Bitcoins might be worth checking out from within, you’ll need to purchase a few somewhere – and the number of services that can help you here will make your head spin.

First of all, there are marketplaces that allow individual users to trade Bitcoins with each other while taking a small fee from all such transactions, usually from the seller’s side of things. With some of those services even offering escrows, there’s a good case to be made for them if you’re looking to buy just a couple of Bitcoins here and there.

Secondly, you can register at one of the big exchanges and trade Bitcoins like a professional. This is naturally recommended for everyone who wants to gear up for the long run, but these services aren’t incredibly user-friendly, so you’ll do well to ignore them if all you want is a handful of Bitcoins.

Finally, you can also take advantage of one of those services that work only as sellers. These are usually the most convenient, allowing you to buy large amounts of Bitcoins without you having to worry about all the security issues that come with user-to-user transactions, but they do tend to come with a few pitfalls as well. Just to give you an example – a number of these services (like the popular Coinbase) track the Bitcoins they sell for a while and may decide to close your account if they think that you’re doing something shady with them. Since that apparently includes sending them to a Bitcoin address that’s associated with an online casino, these services might not be the best choice for those who like online gambling.

Is It a Safe Investment?

With plenty of people starting to lose their faith in the traditional banking systems, we’ve seen plenty of questions regarding how safe an investment Bitcoins really are. Truth to be told, the jury is still out on that one, but we’re convinced that Bitcoins are actually fairly safe, as they’ve already moved way past the initial “proof of concept” phase and as there seems to be nothing that could possibly stop them from slowly creeping into mainstream usage.

Although it most certainly isn’t a good idea to take your entire bankroll and trade it for a wallet full of Bitcoins, there is a case to be made for investing at least a part of it into the cryptocurrency – not only to store a part of the bankroll’s value in something less traditional, but also to have a shot at getting a bit richer when one of the inevitable Bitcoin spikes rolls around. There will, of course, be some sudden dips in value as well, but, unless you buy your Bitcoins during one of the aforementioned spikes, chances are that you’re going to end up with a decent profit after a while.

Bitcoin Casino Bonuses

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Our list of Bitcoin casino bonuses is comprehensive. If you are a looking to bag some extra BTC at your next casino then you’ve come to the right place. The list below includes a range of different bonus types, from first deposit rewards through to cashback, free spins and even the occasional no deposit bonus! What’s more, we will occasionally partner with specific casinos to offer our users access to exclusive bonuses that cannot be found anywhere else! These bonuses are typically extremely generous, and we recommend our players look at these Bitcoin casino bonuses as a first stop.

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Bitcoin Gambling Finland

Bitcoin Gambling Legal

Bitcoin legality is a complex subject, and many countries have yet to clearly define their stance on bitcoin gambling (or gambling with any cryptocurrency for that matter).

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Finland

As with a number of other countries around the world, the only instructions surrounding Bitcoin in Finland are about taxation, with those transferring the currency to another form of currency being obliged to pay capital gains tax. Selling Bitcoins at a loss will not allow the seller to offset the losses in their tax return though. In terms of using the currency for buying goods or services, there are no restrictions placed upon Finnish citizens though. This means that those residing in Finland can use Bitcoin as a form of payment without fear of arrest or prosecution.

Norway

The only regulations in place in Norway regarding Bitcoins are those related to tax. The fact that Bitcoin has been classed as capital property in these regulations means that tax must be paid on any amounts won or earned, however Bitcoin losses can also be deducted from a tax return. Also, anyone selling Bitcoins in Norway must pay VAT. In terms of an individual spending Bitcoins though, there are no laws to regulate the way in which this is done. This means that it is perfectly safe for individuals to conduct transactions using Bitcoin in Norway.

It should be noted however, that Norway takes a strict stance with online gambling. Only two betting companies are allowed to operate and they are both state owned – Norsk Rikstoto and Norsk Tipping. These gambling restrictions are criticised by many as not having a significant affect on problem gambling, but choosing to gamble online with Bitcoin in Norway must be done at your own risk.

Most gambling sites will offer a generous welcome bonus to entice you into their platform. Bonuses are a great way to help improve your chance of winning but there can be a few catches that you need to be aware of. Below you can find links to specific bonus listings as well as further information on how each type of bonus might work for any given platform.

Bonuses are typically extremely generous, and we recommend our players look at these Bitcoin casino bonuses as a first stop.