Bitcoin LotteryAfter 2017, everyone started talking about cryptocurrency. The rapid rise in the value of bitcoin has made it a megapopular currency. Digital money can be earned, bought, or won by gambling. The top casino site successfully accepts cryptocurrency for payments. Bitcoin lotteries provide an opportunity to take risks and hit a big jackpot, only instead of paper money, the winnings will be credited in cryptocurrency (digital money).

On the vastness of the World Wide Web, you can find online casinos that successfully use blockchain technologies and cryptocurrencies. To date, they have not succeeded in completely replacing the usual monetary units, but technologies are confidently marching into the future and are firmly entrenched in the gaming world.

How Bitcoin is used in gambling

Playgrounds using digital currency, appeared on the gambling market not so long ago. The principles of the game are not the same in all casinos.

Many sites offer to replenish personal accounts with cryptocurrency, for this at least you need to purchase it somewhere in advance. For such operations, you need to create a special electronic wallet that supports cryptocurrency.

Cryptocurrency is very unstable. In this connection, there are many risks. You can become a millionaire at one moment, and tomorrow you can lose all your savings. Also, using bitcoins as money, you need to study the technical process well, understand all the intricacies and know the pitfalls.

Using personal data in bitcoin lotteries

To play legally bitcoin lottery it is necessary to submit your bank data to the administration of the resource. Resources that allow transactions to be carried out without going through identity verification, as a rule, operate illegally, which is associated with a risk for punters.

You can start the game process in virtual bitcoin casinos right away, bypassing the stage of registration and creating a personal account … However, you need to be prepared that when you withdraw funds, you will need to provide personal data.

Are bitcoin lotteries trustworthy?

In many European countries, as well as in Russia, cryptocurrency is still outside the legal field. Legislation in this area has not been fully developed, and therefore there are many risks. In case of fraud or loss of funds, you should not count on help from the authorized bodies. All responsibility lies only with you. To choose a gaming portal, you can study the reviews of real users and choose the most acceptable option.

How legal are cryptocurrency lotteries

There are two main principles here: in which country the lottery is held and whether the organizer has a license for this type of activity.

If in the country of residence of the punter the cryptocurrency is fixed at the legislative level and has a special status of a digital currency, then everything is legal.

The very principle of the drawing differs little from ordinary lotteries. The only difference is in the form of the win.