Vera&John Becomes the First Regulated Bitcoin CasinoJanuary 30th, 2014
Unfortunately you can no longer us Bitcoin to deposit and play at Vera&John casino. After a brief period they have suspended it’s use until further notice. However Drake mobile casino do accept Bitcoin.
Vera&John casino have made a bold move to become the first online casino that accept Bitcoins as a depositing currency. But what does this mean for their players?
If you were lucky enough to buy into Bitcoins when they were worth €1 instead of €700, then you are in luck. Mostly because, well done you for a smart investment. However, if the digital currency is one you use for your daily online purchases, then we are also happy to report that there’s a new Bitcoin casino in town, and it’s none other than Lucky Mobile Casinos favourite, Vera&John.
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There are currently no other regulated Bitcoin casinos and you can only deposit using the digital currency on the online casino, not their mobile site. A shame, but we hear that it may be added to the mobile phone site once there is enough demand for the currency. So we will just have to wait and see whether they were wise to become a Bitcoin online casino.
Is a Bitcoin casino a good thing?
Bitcoin has been spoken about, talked about and generally analysed to death ever since 2011 when the value of one increased by 3000%. However, 2013 was the year that Bitcoin became a real and successful currency in it’s own right, with a huge amount of people suddenly using the new digital currency. It has also caused controversy in the media, with plenty of large banks disavowing it as a fad, some even going so far as to call it illegal.
It isn’t (if you were worried), but the reason that so many big corporations have become so angry is the same reason why playing with them is an advantage to casino players. Basically, the digital currency use a peer-to-peer network to make transactions. It’s all online and it’s the users themselves who make sure every transaction works – there is not third parties (banks) involved at any point during the process.
Now you see why so many banks don’t like the currency right? Of course, the flip side of that is that the currency is not regulated. So the price of a Bitcoin has been fluctuating far more than your standard EUR, GBP and USD and there has been claims of money laundering through the currency; though how much of it is true is hard to say.
For online casino players with the currency at hand however, you basically ensure that you have no expensive bank fees and, if your bank is one of those banks who do not allow online gambling transactions, Bitcoin is a good choice.
Is it worth depositing at a casino with Bitcoin?
We are not financial experts. We are in no position to tell you whether you should or shouldn’t buy Bitcoins. If you want to learn more about the currency, go to the Bitcoin website and find out a little more. Research it.
“There are 12.28 million bitcoins on the market and the stock value recorded yesterday was more than 12 billion USD. And don’t forget that yesterday 61,287 successful bitcoin transactions took place. Of course we want to be a part of this extraordinary development.”
Vera&John Casino Spokesman
As a Bitcoin online casino Vera&John has decided that the currency is here to stay. Personally, we think that the fact that it has been embraced by so many since it was created back in 2008 means it’s more than just a fad. The numbers are growing and there are even cashpoints in Canada where you can transfer your Bitcoin money onto your mobile to pay for online transactions.
So if you are already using Bitcoins, we couldn’t recommend a better online or mobile casino. Vera&John has a huge selection of some of the best casino games around, enough currencies to welcome everyone from around the world, local support service in 5 languages, daily slot tournaments, live casino… the list goes on. Read our full Vera&John mobile casino review or take our exclusive sign up bonus available only through Lucky Mobile Casinos.
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