Из жизни альткоинов

Following the renewed optimism around Bitcoin, the largest cryptocurrency asset, Axel Adler Jr, a research and data analyst at CryptoQuant, has spotted a noticeable drop in the willingness of investors to sell their BTC holdings. This pattern shows that there is a rising confidence in the prospect of additional gains in the flagship crypto asset as the market as a whole experiences a significant recovery.

Waning Bitcoin Selling Pressure From Investors

The CryptoQuant’s analyst, Axel Adler Jr, highlighted the positive development in his latest sentiment research. His analysis underscores a change in outlook where holders are constantly choosing to keep their BTC holdings rather than sell them, despite recent market rallies.

According to the expert, Bitcoin has become a major investment asset in addition to being a method of exchange in recent years, indicating the potential of the digital asset. This sentiment appears to be triggering confidence around the coin as the number of BTC deposit addresses across all exchanges has significantly decreased, with the most current on-chain data indicating a low of 25,000.

Adler noted that the drop in deposit addresses to 25,000 is a crucial indicator that could point to an adjustment in investors’ approach to storing their BTC. Specifically, with the recent market recovery, this drop suggests that the majority of holders are looking forward to clinging onto their holdings in expectation of future price increases.

Looking at the trend from a behavioral economics perspective, Adler claims the recent pattern might indicate that investors in Bitcoin are becoming more confident, which is driven by several factors such as rising institutional investment in cryptocurrencies.

It is worth noting that the analyst considers this development a bullish trend that could trigger significant future price increases for BTC, as the decline in investors’ desire to sell the asset could result in less BTC being available for purchase. “This is undoubtedly a bullish signal for the market, as it indicates expectations of higher future values,” he added.

Veteran Holders Are Holding On To Their BTC

Ki Young Ju, CryptoQuant’s Chief Executive Officer (CEO) and founder, has identified this sentiment mostly among veteran BTC holders, particularly those above 3 years old. As the crypto market transitions into a bullish phase, the CEO believes those who may be selling their Bitcoin are holders below 3 years, noting that veteran investors are willing to hold. 

According to Ju, recent data shows that once BTC got closer to its previous all-time high, those holding for 6 months to 2 years regarded as bull market investors, sold out the majority of their holdings. In addition, Ju noted that holders of over 2 years, which are bear market investors were also seen selling roughly 67% of their BTC. While these holders are selling, all age groups of veteran investors who have gone through several cycles are exhibiting record highs in UTXO supply, suggesting rising confidence within older investors.

Генеральный директор Swan Bitcoin Кори Клиппстен написал в социальной сети Х, что компания прекращает майнинговые операции и сокращает штат, а также пересмотрит планы по выводу своих акций на публичный фондовый рынок.

Американский бизнесмен и миллиардер Марк Кубан заявил, что кандидат в президенты США Камала Харрис может быть более открытой для криптоиндустрии, чем нынешний глава Белого дома Джо Байден.

Издание The Block сообщило, что кредиторы обанкротившейся криптобиржи MtGox начали получать переводы в биткоинах и Bitcoin Cash на свои аккаунты на платформе Kraken.

US Vice President Kamala Harris is reportedly in discussions to join the speaker lineup at the upcoming Bitcoin conference, adding to the roster that already includes leading US presidential candidate Donald Trump and candidate Robert F. Kennedy Jr. The conference, set to take place in Nashville from July 25-27, is anticipated to be a blockbuster event.

All 3 Presidential Candidates Could Woo Bitcoin Voters

David Bailey, CEO of Bitcoin Magazine and the conference organizer, announced the potential addition via X, stating, “We’re in talks with Kamala Harris’ campaign for her to speak at the conference. Would be very savvy of her to reset the democrat positioning on the fastest growing voter block in the country. They’re making up their minds today.”

The potential participation of Harris has elicited mixed reactions from prominent figures in the crypto space. Tyler Winklevoss, founder of the crypto exchange Gemini, expressed skepticism, saying, “Talk is cheap. She would need to start by immediately firing Gary Gensler, withdrawing all SEC enforcement actions against good actors, and ending Operation Chokepoint 2.0. She won’t do this so she won’t stand a chance in winning back the crypto voting block. Time for change.”

Ram Ahluwalia, CEO of Lumida Wealth, commented on the shifting political landscape, noting, “THE OVERTON WINDOW HAS MOVED. Candidate Harris is speaking at the Bitcoin Conference? Will the admin terminate Chair Gensler? Isn’t that the only action that counts? Two Presidential Candidates are competing to win the affections of crypto natives at the Bitcoin conference. Both flip-flopped in the pursuit of political expediency. […] If Biden & Harris are serious, they should terminate Chair Gensler.”

Wayne Vaughan added a critical perspective, asserting, “Democrats spent four years trying to destroy Bitcoin. Kamala Harris only wants to speak at The Bitcoin Conference because she’s desperate to avoid losing this election. Democrats want some of that sweet money raised by pro-crypto Super PACs. Don’t be fooled. Vote them out.”

David Gokhshtein, another vocal figure in the crypto community, shared his skepticism humorously, “It’s hilarious that Harris is speaking at the Bitcoin conference. What’s she going to talk about? How she and the Biden administration did everything they could to kill Bitcoin and crypto?”

This news follows a recent revelation by entrepreneur Mark Cuban, who mentioned that Harris’ team had reached out to him with questions about cryptocurrency. “I’m getting multiple questions from her camp about crypto,” Cuban said on Tuesday. “So I take that as a good sign. The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto and government as a service.”

The news that Kamala Harris could also join the Bitcoin conference comes after Donald Trump made huge waves with his pro-Bitcoin and pro-crypto statements in recent weeks. Trump is rumored to announce BTC as a strategic reserve asset for the United States during his keynote on the last conference day (Saturday).

At press time, BTC traded at $65,615.

Кандидат на пост председателя Комиссии по финансовым услугам Южной Кореи (FSC) Ким Бён Хван призвал правительство быть осторожным с запуском спотовых биржевых фондов (ETF), привязанных к криптовалютам.

Президент Парагвая Сантьяго Пенья отклонил жалобы майнеров, выступивших против повышения платы за электроэнергию на 14%, которое будет введено с 1 августа Национальным управлением электроэнергетики Парагвая (ANDE).

With President Joe Biden stepping out of the race for the White House, attention now turns to Vice President Kamala Harris as a potential Democratic nominee and her stance on supporting innovation within the crypto industry. 

Nonetheless, the market is divided on whether her ascendancy will bring forth a more favorable environment for cryptocurrencies or if the regulatory crackdown experienced over the past years under Biden’s administration will continue. 

Billionaire investor Mark Cuban has weighed in on the matter, suggesting a potential shift in policy under a Harris administration. Meanwhile, analysts speculate that a return of Donald Trump to the White House could lead to a weaker dollar, which some believe could benefit Bitcoin and other crypto assets.

Potential Support For AI And Crypto

Based on Harris’ record as a US senator and attorney general in California and her positions during her brief presidential campaign in 2019, a Politico report suggests that industry leaders perceive Harris as likely to take a more progressive approach to innovation than President Biden. 

However, Harris’ rapid rise has left many industry insiders uncertain about her stance on crypto regulation or related matters surrounding the emerging industry. 

Mark Cuban, a well-known crypto supporter, has expressed optimism, suggesting that Harris may be “more open to business” regarding artificial intelligence (AI), crypto assets, and government services. In an email to Politico, Cuban said:

The feedback I’m getting, but certainly not confirmed by the VP, is that she will be far more open to business, [artificial intelligence], crypto and government as a service. Changing the policies changes the message and lets everyone know she is in charge and open, literally, for business.

Trump Trade Effect

On the other hand, if Donald Trump were to return to the White House, some analysts speculate that his policies may lead to a weaker dollar, ultimately benefiting “riskier assets” such as crypto and gold, a phenomenon known as the Trump Trade. 

Market expectations of a weaker dollar under a Republican administration, combined with the debut of crypto-focused exchange-traded funds earlier this year, such as the successful Bitcoin ETF market, have contributed to the rally in BTC prices and are expected to do so again in the scenario where Trump wins the seat in the Oval Office.

Fadi Aboualfa, head of research at Copper Technologies, claimed that the recent rise in Bitcoin’s price is primarily due to economic factors rather than Trump’s explicit support for the crypto industry. 

However, Noelle Acheson, author of the Crypto Is Macro newsletter, believes that many other assets will outperform shortly and that it is always the short-term traders and investors that determine the current price of BTC. 

Furthermore, Acheson claims that large-scale selling by the German government has caused major volatility for Bitcoin in recent weeks, and similar “bumps in the road” could be difficult for the asset to overcome – regardless of which side Washington is on. Acheson concluded by stating:

This matters for Bitcoin because there are few assets that have such a diversity of narratives,” said Acheson. If history were to repeat itself and the result of the election was not respected, “that would be pretty disastrous

When writing, the largest cryptocurrency on the market is trading at $65,970, down over 2% in the 24-hour time frame. 

Featured image from DALL-E, chart from TradingView.com 

The crypto industry seems excited and expectant following the US Securities and Exchange Commission (SEC)’s final approval of spot Ethereum Exchange-Traded Funds (ETFs). As investors await the official launch of the investment product, many have discussed the implications of today’s debut.

American Entrepreneur Anthony Pompliano recently joined CNBC’s Squawk Box to discuss the long-awaited launch and its potential market impact. To Pompliano, ETH ETF’s story is not “as clear” as Bitcoin ETFs, but it will lead to broader adoption for the crypto industry.

Will Ethereum ETFs Compare To Bitcoin’s?

On Tuesday, Anthony Pompliano, CEO of Professional Capital Management, discussed the latest milestone for the crypto industry. During the CNBC interview, the American entrepreneur shared his opinion on the approval and launch of spot Ethereum ETFs.

Pompliano stated that Bitcoin (BTC) ETFs have had a massive impact on the industry and its adoption, calling it a “historic thing, probably the best ETF launch in history.” He noted that the BTC-based investment products continue to register substantial inflows.

“One of the interesting stats is that the BlackRock Bitcoin ETF has had more inflows than QQQ year-to-date,” said Pompliano, highlighting that, just yesterday, the BTC products had nearly $500 million in inflows.

These numbers bring the question of whether the second crypto-related ETF launch will be as big as the first one. The BTC bull believes it won’t compare to the BTC ETF numbers as “people aren’t talking about it as much. The media attention, the hype, and all that stuff isn’t really there.”

Pompliano considers that the reason for the lack of media and general attention is because ETH’s story “isn’t as clear” as BTC’s. He explained that the story “is clear with Bitcoin, It’s digital gold,” while people discuss Ethereum as a “technology platform” with “a lot more competition.”

All Altcoins Will “Come To Wall Street”

Despite the “unclear” narrative, the American businessman highlighted that firms like Bitwise offered their ETH-based product as a form of diversification. Pompliano believes this narrative could benefit the Ethereum-based investment product since it could attract people who don’t want just one crypto-based ETF, but a couple of them.

The CEO asserted that the inflows of the newly launched products won’t be “as big” as the Bitcoin ones. “We got to see what the flows will be like because the story isn’t as clear. You are not going to get access to the staking, so the cash flow that people like about Ethereum isn’t available to these ETF holders,” he stated.

However, Pompliano believes the approval of ETH ETFs will have greater implications for the crypto industry. To him, the “interesting” takeaway from today’s launch is “less about Ethereum and more about the rest of the market.”

He considers today’s debut will lead all Altcoins to Wall Street, although it might take a while and require more regulatory clarity before “these things come to Wall Street.” Pompliano added that the ETH ETFs launch has potentially opened the door for crypto adoption from “just Bitcoin” to the industry.

So, what went from a zero to one ‘Is it going to be Bitcoin or is it not?’ is now going to be a crypto industry.’ And the reason why that becomes interesting is because people who have this portfolio model or portfolio approach are going to start to apply that to all of crypto.

Ultimately, Pompliano predicted that Ethereum ETFs will have good inflow numbers and that ETH’s price will go up, “but it’s not going to be to the magnitude that people are hoping for because of these other pressures.”

Crypto lending company BlockFi, which filed for bankruptcy in 2022 following the collapse of crypto exchange FTX, announced on Monday the successful sale of its FTX claims. This marks another step towards completing BlockFi’s bankruptcy process, allowing for the final distribution of funds to creditors. 

According to Monday’s announcement, the sale of FTX claims was completed at a “substantial” premium to their face value, which the plan administrator said is intended to ensure a “near-term” final distribution of 100% to all allowed customers and general unsecured creditors.

‘Best Possible Outcome For Customers’

BlockFi’s plan administrator, Mohsin Y. Meghji, disclosed in the announcement that he had filed a report to the United States Bankruptcy Court for the District of New Jersey, confirming the transaction’s closing that monetizes all claims against FTX. 

Meghji believes this is the “best possible outcome” for BlockFi’s customers, even stating that it exceeds expectations from when the bankruptcy cases were first filed in November 2022. Meghji further said:

…These results, achieved through tireless efforts by various parties, are remarkable. We intend to commence the Final Customer Distribution as quickly as reasonably practicable

As reported by Bitcoinist, in March 2024, BlockFi settled with FTX and the bankrupt crypto exchange’s trading arm, Alameda Research, enabling BlockFi to receive $874.5 million in claims against them. 

This settlement paved the way for subsequent distributions to BlockFi customers based on anticipated FTX distributions. An important aspect of the settlement was the plan administrator’s option to monetize the FTX Claims through a third-party sale.

BlockFi’s Platform Inactive, Repayment Progresses

Just a month ago, in June, the plan administrator determined that a sale of the FTX Claims at a level that maximized customer returns and generated significant recoveries for subordinated creditors was feasible. 

The sale process commenced on June 24, 2024, and concluded on July 10, 2024, with the highest and best bid acceptance. Interestingly, the purchase price exceeded the face value of the FTX Claims, providing substantial value to BlockFi and its creditors.

It was also disclosed that BlockFi’s platform is no longer active, and any “in-kind” distributions will be facilitated through the plan administrator’s collaboration with Coinbase. In the wake of this, users have reported receiving notifications from the US-based exchange, indicating successful matching of their identifying information with BlockFi’s data. 

However, despite the sense of progress in the bankrupt crypto lender’s bankruptcy proceedings, Bitcoinist also reported on July 19 that while many customers expressed excitement and viewed the repayment development as positive news, some remained skeptical and stressed the need to see the funds deposited into their Coinbase accounts.

Featured image from DALL-E, chart from TradingView.com 

So far in July, the Bitcoin price has shown positive movement, emerging from the bearish trend of June and rising to new monthly highs. While this increase has been encouraging, it still leaves doubt in the hearts of investors, as the BTC price remains below $70,000. With the month drawing close to a rapid end, the question remains if the Bitcoin price will finish out this month in the green or if it will succumb to the bears once again.

How Bitcoin Price Has Performed Historically

Historical data can often be useful for investors when it comes to volatile assets such as Bitcoin, as it could provide insight into where the price is headed next. For one, the BTC price has repeated the same trends, one of those being the four-year cycle of the bull markets.

On the shorter timeframe, looking at monthly performance can also be a helpful indicator for where the Bitcoin price might be headed next, especially taking into account how the months leading up to July have also performed in comparison to historical data.

Using data from Coinglass, we can see that the monthly returns for Bitcoin for the first quarter of the year stayed in line with performances from 2023. The first three months of January, February, and March have all been green, just like it was last year.

However, in the second quarter, the Bitcoin price took an interesting turn in terms of monthly performance. Instead of sticking with previous performances, each month has done the opposite of what happened in the same month in 2023.

For example, in April 2023, Bitcoin saw positive monthly returns of 2.81%, but in April 2024, it turned negative as the price crashed 14.76%. This was the case for both May and June, with an 11.07% increase in May 2024 compared to a 6.98% decline in May 2023, and a 6.96% decline in June 2024 compared to an 11.98% increase in June 2023.

Going into the third quarter of the year, Bitcoin seems to be following the trend that started in the second quarter. With only a week left to go in July, the Bitcoin price is already up 7.27%, compared to a 4.02% decline in July 2023.

Now, if the third quarter goes in the same direction as the second quarter, it means that July could finish out July 2024 in the green. Furthermore, given that August 2023 saw the BTC price close out the month with an 11.29% loss, it bodes well for the price, as this could point to an increase in price going into August as well.

The release of India’s Union Budget for 2024-25 has left a significant portion of the country’s population pondering its implications, particularly the cryptocurrency community, which finds itself at a standstill.

On July 23, the budget brought up by Finance Minister Nirmala Sitharaman left the digital currency industry unaddressed even after prior speculations and anticipation of potential regulatory clarifications or supportive measures.

This omission comes at a time when the global digital currency industry is seeing various levels of adoption and regulation, highlighting a stark contrast in India’s approach to handling these digital assets.

2022 Tax Status Quo Continues: Community Reactions

The budget outlined nine priorities for economic growth, such as agriculture and employment, but not virtual currencies. This absence is regarded as a failure to create an innovation-generating and investment-attracting legal framework in the rapidly developing field.

Apart from this, while there were important modifications proposed in the budget, like doing away with angel tax for startups and a tweak to the equalization levy, none of these changes were reflected in the case of digital currency assets, leaving the existing digital currency tax framework unchanged.

The absence of anything on the budget for digital currency has left the Indian digital currency community feeling shocked and worried. High-profile individuals such as developer Vijay Saran have recently taken to X to voice their concerns about the plan, which does not even mention digital currency.

Union Budget 2024 Update:

There is not even a single mention of Crypto in the #unionbudget2024

The Indian government did not mention anything related to cryptocurrencies in the union budget 2024-25 which means Tax on Crypto transactions and TDS is unchanged: 30% TAX and 1% TDS… pic.twitter.com/raBT1xWA6M

— Vijay Saran (@imvijaysaran) July 23, 2024

According to Saran, the digital currency market left unaddressed in the budget suggests that the status quo from 2022 will continue, whereby crypto transactions are taxed at 30% with an additional 1% tax deducted at source (TDS).

Notably, these tax measures are among the strictest globally, significantly impacting the operational dynamics of digital currency exchanges and investors within the country.

Another budget session for India, and still NO mention of #Crypto. We need reduced crypto tax to encourage adoption of cryptocurrencies in India. #CryptoIndia

— Shubham Datta (@shubhamdat429) July 23, 2024

Impact of India’s Crypto Tax

The stringent tax regime has already had a chilling effect on the digital currency market in India. According to the National Academy of Legal Studies and Research (NASLAR), since the implementation of these taxes, trading volumes on Indian exchanges have plummeted by 97%, and active user participation is down by 81%.

NASLAR found that these slumps damage the digital currency space and result in significant losses to the national treasury, estimated at 59 billion Indian rupees ($700 million) annually.

In contrast, a study published by NASLAR suggests that capping crypto TDS to 0.01% would see the government collect twice as much from the industry.

Featured image created with DALL-E, Chart from TradingView

One of the most well-known bitcoin exchanges worldwide, Gate.io, has decided to terminate all services available in Japan. Effective July 22, this retreat signals a dramatic change in the operational scene of the exchange.

In an announcement Monday, the exchange revealed a compliance programme meant to help its Japanese clients migrate their assets to platforms in accordance with local laws.

The company said it aims to follow financial rules wherever it conducts business. Gate.io added that it regrets to notify its customers that it will be ending its services for Japan.

Gate.io: Navigating Regulatory Waters

Gate.io’s leaving Japan draws attention to the difficulties crypto exchanges have negotiating convoluted legal landscapes. Mostly under control by the Financial Services Agency (FSA), Japan has one of the toughest laws for bitcoin exchanges.

The Payment Services Act (PSA), passed in April 2017 and which acknowledges cryptocurrencies as legal property and mandates exchanges to register with the FSA, is the pillar of this approach.

Strict anti-money laundering (AML) and counter-terrorism financing (CFT) rules included in this strong regulatory framework target to make the surroundings safer for bitcoin transactions. Furthermore, controlling bitcoin derivatives is the Financial Instruments and Exchange Act (FIEA), which sets more criteria on exchanges for consumer safety and cybersecurity.

Japan has stepped up its regulatory scrutiny recently in response to recent reports of security lapses and mounting investor protection issues. The FSA has strengthened its compliance criteria, which increases operational control for exchanges.

Guaranteeing A Flawless Transition

Gate.io is starting a programme to help consumers move their crypto assets to compliant platforms in order to guarantee a seamless transition for them. This programme consists of removing from its website descriptions pertaining to Japanese users and the Japanese market as well as in providing thorough proposals for the suspension of services and transaction relocation.

Gate.io reassured its clients that all required actions will be done to follow Japanese law, including closely coordinating with authorities like the FSA. The Gate.io team indicated in their release that specifics of the suspension of services and the reaction and timeline for the relocation of transactions will be implemented in line with compliance demands from authorities and will be revealed quickly.

Featured image from Condé Nast Traveler, chart from TradingView

Recent price action indicates that Shiba Inu (SHIB) is currently underperforming compared to other major cryptocurrencies. Over the past seven days, SHIB has experienced a significant decline of 7.26%, and in just the last 24 hours, the token has fallen by an additional 2.58%. This downturn is particularly noteworthy when compared with the performance of Dogecoin (DOGE), its meme coin counterpart. Unlike SHIB, Dogecoin has enjoyed a robust 12% increase over the same seven-day time frame. 

One key factor contributing to SHIB’s recent struggles is a noticeable decline in several crucial Shibarium metrics over the past 24 hours. Shibarium, the L2 blockchain network associated with Shiba Inu, has seen a drop in user engagement, transaction volume, and other important indicators, which has likely contributed to a lack of full bullish sentiment surrounding the token. 

Shiba Inu’s Shibarium Falls In Key Metrics

Built upon the Ethereum blockchain, Shibarium is Shiba Inu’s layer-2 solution designed to enhance scalability and strengthen the overall Shiba Inu cryptocurrency ecosystem. Interestingly, Shibarium has been closely linked to SHIB’s price movements since it launched last year, often driving significant fluctuations. SHIB’s price has historically experienced appreciable gains during periods of heightened activity on the network driven by increased SHIB transactions and bullish market sentiment

However, recent data from Shibariumscan shows that Shibarium has lacked significant activity in the past few days. Specifically, the number of active accounts on the network has dramatically declined, dropping from 667 on July 21 to just 113 at the time of writing. This represents a substantial 83% decrease in active accounts within two days. Additionally, the number of new transactions on the layer-2 network has plummeted sharply, falling from 6,353 on July 21 to only 524 in the last 24 hours.

Something To Worry About?

These metrics suggest a significant drop in user engagement, transactional activity, and SHIB accumulation on Shibarium, raising questions about the network’s current vitality and its impact on SHIB’s market performance. This reduction in activity could also suggest broader challenges within the Shiba Inu ecosystem, such as waning investor interest among other meme coins and utility tokens.

However, Shiba Inu has demonstrated remarkable resilience over the years, cultivating a large and dedicated community of enthusiasts. The current slowdown in Shibarium’s activity could be temporary. Activity could pick up with just a few whale accumulations or the announcement of a community update from the Shiba Inu team. 

On the other hand, some SHIB bulls are working behind the scenes to resume an upward price trajectory.  Notably, burn statistics reveal a dramatic increase in SHIB burns, surging by 428.88% in the past 24 hours alone, with 60 million SHIB tokens sent to dead wallets. This increased burning activity is an effort to reduce the circulating supply, which could positively impact SHIB’s price in the long term.

At the time of writing, SHIB is trading at $0.00001744, having recently rebounded from a support level of $0.00001710.

On-chain data shows the Bitcoin mining revenue has neared its yearly average, a sign that capitulation could be coming to a close for miners.

Bitcoin Miner Revenue Is Now Close To Its 365-Day SMA

In a new post on X, analyst James Van Straten has discussed about how the situation of the BTC miners is looking like right now. There are different ways to gauge the condition of the miners, with a popular one being the hashrate, which is a measure of the total computing power connected to the Bitcoin network.

Here, though, the analyst has made use of the daily total revenue of these chain validators. There are two parts to miner revenue: block subsidy and transaction fees.

The first of these refers to the BTC rewards that miners receive as compensation for solving blocks on the network, while the latter one is the payment users bundle with individual transactions. Historically, the block subsidy has made up for a much more significant part of the miner revenue than the transaction fees.

The below chart shows how the combined Bitcoin miner revenue has changed over the last few years.

As displayed in the above graph, the Bitcoin miner revenue had started climbing alongside the price rally that kicked off back in October of last year and had achieved a new all-time high (ATH) by April of this year.

This increase had occurred due to two reasons. First, the block subsidy, which is given out in BTC, is generally fixed in both value and periodicity, so the only variable related to it is the asset’s USD price. As such, it makes sense that the revenue would go up when the price rallies.

At the same time, the network also became busy, due to the increased bull market traffic. The transaction fee is dependent on the blockchain conditions, since there is only limited space available in blocks. This space naturally becomes more expensive as competition for transfers increases.

The spike to the ATH revenue, in particular, was fueled by the arrival of Runes, which is a new technology on the chain that allows users to mint fungible tokens. Transactions related to Runes are similar to any other on the network, so they also affect network economics.

From the chart, it’s visible that the miner revenue had registered a sharp plunge right after this ATH, with its value sinking below the 365-day simple moving average (SMA).

The reason behind this was the fourth Halving. While block rewards stay fixed in value for most of the time, there is an exception in the form of Halving events. These periodic events, which occur every four years, permanently shave off these rewards in half, thus drastically shaking up miner revenue.

Since this drop, the Bitcoin mining revenue has stayed under the 365-day SMA, which has put many miners under pressure and forced some of them into capitulating.

With the latest recovery, though, the miner revenue has risen to $35 million, which isn’t far from the $40 million yearly average. “This is another way to show the miner capitulation is almost over,” explains Van Straten.

If the metric can manage to reclaim the 365-day SMA, then Bitcoin could continue to trend higher, according to the analyst.

BTC Price

Bitcoin has stalled in its recovery as its price is still trading around the $66,200 level.

As excitement regarding the launch of the much-anticipated Ethereum Spot Exchange-Traded Funds (ETFs) brews, asset management company, Bitwise, in a groundbreaking move for the crypto industry is set to donate a portion of its profits from its ETH spot ETF to Ethereum open-source developers. This move by Bitwise demonstrates the broader understanding of the value of supporting open-source initiatives that encourage and develop blockchain technology.

Bitwise’s Ethereum Spot ETF Profits Goes To Open Source Developers

The asset management firm Bitwise disclosed its plans to support open-source developers with part of the profits, particularly 10% from its Ethereum spot ETF under the ticker (ETHW) on Monday evening.

It is worth noting that Bitwise’s ETHW fund is the newest addition to a broad range of 20 crypto products and the company’s eight publicly traded cryptocurrency funds. ETHW features an inexpensive 0.20% management charge. However, on the first $500 million in assets, the fee is set at 0% for the first six months. 

The fund will be traded on the New York Stock Exchange while making use of experienced service providers, such as KPMG as auditors, Bank of New York Mellon as administrators, and Coinbase Custody Trust Company as digital asset custodians.

Related Reading: Ethereum Spot ETFs Sparks Institutional Optimism, Surpassing Retail Sentiment

Following the launch of the fund, Bitwise has declared that two major firms would receive a donation of 10% of all ETHW earnings, along with the product’s introduction. The first organization listed by Bitwise is Protocol Guild, a community-based funding platform that assists over 170 key contributors to the research and development of the Ethereum Layer 1 protocol. Secondly, the PBS Foundation, a nonprofit that provides funding for open-source Ethereum block relays and surrounding research.

Hong Kim, the Chief Technology Officer (CTO) of Bitwise stated that a group of enthusiastic open-source developers currently manages Ethereum as an open-source technology. Therefore the goal of every ETHW investment is for ETH to keep expanding, and this donation program will assist in achieving this target.

Furthermore, the firm has highlighted its intention to promote transparency by making the ETH addresses of all ETHW holdings available, as it will enable any investor to confirm the fund’s holdings and transactions directly on the blockchain.

ETH Spot ETFs Launch To Drive Ether’s Value To New All-Time High

Given the impact of the Bitcoin Spot Exchange-Traded Funds inception on Bitcoin’s price, Bitwise is confident that the same will happen with the value of Ethereum following the introduction of the ETH spot ETFs.

According to the firm’s Chief Information Officer, Matt Hougan, after Bitcoin was made available through an ETF version, over $17 billion in new capital entered into the crypto space in just a few months, driving BTC to a new peak. Thus, with ETH attracting such significant inflow and potentially more after its spot ETF launch, Hougan expects the crypto asset to reach new all-time highs before 2024 closes.

There have been many discussions and opinions about how much the Spot Ethereum ETFs will affect the ETH price. Crypto analyst and trader Raman has also joined the conversation and revealed how these funds provide upside catalysts for Ethereum. 

How The Spot Ethereum ETFs Provide A Bullish Setup For ETH Price

While alluding to the Spot Ethereum ETFs, Raman claimed in an X (formerly Twitter) post that the second half of this year will be the “most obvious bullish setup for the Ethereum ecosystem in recent history.” First, he stated that the Ethereum ETFs will unlock new capital into the Ethereum ecosystem. 

The analyst believes this new money will greatly appreciate the ETH price, especially considering that Ethereum hasn’t witnessed such massive inflows in quite a while. He noted that the money that has moved into the Ethereum ecosystem over the last two years has just been the rotation of capital from traders who have continued to divest their money between several crypto assets. 

Raman also belongs to the school that believes billions of dollars will flow into the Ethereum ecosystem through the Spot Ethereum ETFs. The analyst alluded to how the Spot Bitcoin ETFs have witnessed over $17 billion in net inflows and claimed Ethereum’s turn is next. Bitwise’s Chief Investment Officer (CIO) Matt Hougan previously predicted that the Spot Ethereum ETFs will attract $15 billion in their eighteen months of trading. 

Other Headwinds That Are Set To Become Tailwinds 

Raman also highlighted two other headwinds that will become tailwinds for Ethereum thanks to the Spot Ethereum ETFs. The analyst stated that the “regulatory witch hunt against ETH is ending.” He claimed that Ethereum has been under investigation since the Merge, something he believes made the crypto token “radioactive for institutions.”

However, Raman remarked that the “era of regulatory purgatory” has ended with the approval of the Spot Ethereum ETFs. The US Securities and Exchange Commission’s (SEC) approval of these funds has all but confirmed that the crypto asset is now regarded as a commodity, not a security. Raman added that this has cleared the way for new apps and innovation on Ethereum to flourish. 

Lastly, Raman mentioned that the macro landscape is about to favor riskier assets like Ethereum. He noted how these risk assets had been sidelined until now as capital that could have flooded into crypto was diverted to traditional assets. However, as Raman stated, that is about to change as the largest capital markets worldwide are finally embracing crypto. 

He added that new institutional and retail capital will flow into Ethereum (and Bitcoin) since Spot ETFs are the “safest on-ramps” into the crypto space. In line with this, Raman believes that Ethereum is ready for “prime-time adoption.”

Согласно отчету Европола, несмотря на усилия международных правоохранительных органов  и правительственных чиновников, биткоин по-прежнему остается «самым злоупотребляемым и популярным» криптоактивом у преступников.

Bitcoin casinos have become hugely popular platforms for online gamblers to play a vast array of games, ranging from classics such as Blackjack and Roulette to a wide variety of Slots, all using digital currencies like Bitcoin.

This article compares and reviews all of the leading Bitcoin casino platforms in 2024. We assess the best Bitcoin gaming sites based on various criteria, including Bonuses, Range of games, Security, Software providers, Payout processes, and many other key factors.

1. Bc.game – Best Overall Casino And Community
2. Jackbit – Best for Mobile Devices
3. CryptoGames – Best Crypto Casino Games Variation
4. CryptoLeo – Best New Features
5. Xspins – Fastest Cryptocurrency Payouts
6. WildCasino – Casino of the Month
7. Flush.com – Winner For Bitcoin Players
8. BetPanda – No KYC Process Needed
9. BitStarz – Well Established And Highly Praised
10. Betplay – Top Casino For Betting And Games
11. Luckyblock – 7000+ Quality Games
12. Metaspins – Popular And Safe Option

Best Bitcoin Casino Sites Reviews (July 2024) BC.Game

Review Score: 5/5

• Unique Game Offerings: 5/5 BC.Game’s exclusive and innovative games set it apart in the world of crypto casinos. Their unique titles offer an engaging experience that can’t be found in other online casinos.
• Community Engagement: 5/5 The platform’s strong community focus, with chat rooms and forums, creates a social and interactive environment. This aspect enhances the gaming experience, making it more than just a place to play games.
• Cryptocurrency Variety: 5/5 BC.Game supports a wide range of cryptos, offering flexibility and convenience to players, catering to various user wallets.

A Premier Destination Among Crypto Casinos Online

BC.Game is widely recognized in the realm of Bitcoin casino gambling, offering an extensive array of bitcoin casino games. As one of the best Bitcoin casinos, they provide a unique blend of traditional and innovative games, making it a standout choice among Bitcoin casino sites. The platform’s commitment to offering provably fair games ensures transparency and fairness, a key feature in the best crypto casinos.

Community and Engagement

This Bitcoin casino online goes beyond just offering casino games; it fosters a strong sense of community. Players at this crypto casino site can enjoy interactive chat rooms and forums, making it more than just a casino but a community hub. This aspect of community engagement is a unique feature that sets BC.Game apart from many other brands.

Cryptocurrency Variety and Security

BC.Game’s support for a wide range of cryptocurrencies positions it as a versatile and inclusive option among cryptocurrency casinos. This BTC casino takes security seriously, employing advanced encryption to ensure safe and secure deposits and withdrawals. The ease of transactions and the security provided are what make BC.Game one of the top Bitcoin casinos.

Visit BC.Game Casino → Jackbit

Review Score: 4.8/5

• Sports Betting Integration: 5/5 Jackbit offers a seamless experience between casino gaming and sports betting, catering to a wide range of interests. This integration is a unique feature that adds significant value to the platform.
• User-Friendly Design: 4.5/5 The intuitive layout of Jackbit makes it easy for players to navigate and find games, enhancing user experience. However, there’s room for improvement in terms of personalization options.
• Promotional Offers: 5/5 Jackbit’s attractive promotional offers, including free spins and deposit bonuses, provide added value to players. The promotions are competitive and appealing.

Combining Sports Betting with Casino Thrills

Jackbit is a unique fusion of a sports betting platform and a Bitcoin casino, offering a comprehensive experience. They stand out among the competition with extensive sports betting options and a packed casino games library. This combination is a significant draw for players who enjoy both sports betting and traditional casino games, making Jackbit one of the best Bitcoin casino sites for sports enthusiasts.

Unmatched Promotional Offers

In the competitive world of online casinos, Jackbit sets itself apart with attractive promotional offers. Players can enjoy free spins, deposit bonuses, and other exciting casino bonuses, enhancing the overall experience at this bitcoin casino site. These promotions are a key factor in Jackbit’s reputation as one of the best bitcoin casinos.

Freedom in Financial Transactions

Jackbit’s policy of no withdrawal limits is a major advantage, especially for high rollers. This feature is not commonly found in traditional online casinos, making Jackbit a preferred choice among bitcoin online casinos for players who seek fewer restrictions on their winnings.

Visit Jackbit Casino → CryptoLeo

Review Score: 4.7/5

• Focus on Crypto: 4.5/5 CryptoLeo’s dedication to being a crypto-centric platform ensures faster transactions and enhanced security. This focus is a major draw for crypto enthusiasts, though they could expand the payments to include more altcoins.
• Game Selection: 4.3/5 The diverse range of games, including popular slots and table games, caters to various preferences. More exclusive titles could further enhance the gaming experience.
• Minimalist Design: 5/5 The platform’s minimalist design is great for straightforward gaming. A balance between simplicity and engaging graphics enhances the appeal.

Prioritizing Anonymity and Speed

CryptoLeo is a leading name among crypto casino sites, known for its emphasis on player anonymity and fast transactions. This focus makes it a top choice among the best crypto casinos for players who prioritize privacy. As a bitcoin casino, CryptoLeo offers instant transactions, a feature that is highly valued by players.

Regular Player Incentives

CryptoLeo stands out among bitcoin casino sites with its regular cashback offers. These incentives provide players with added value, making it a popular choice among the best bitcoin casino sites. The cashback offers are a testament to CryptoLeo’s commitment to player satisfaction.

Ease of Use and Game Variety

The user-friendly design of CryptoLeo ensures easy navigation among a wide variety of bitcoin casino games. This BTC casino offers everything from slot games to live dealer games, catering to a broad spectrum of player preferences. The diversity and accessibility of games are what make CryptoLeo a top contender in our reviews.

Visit Cryptoleo Casino → WildCasino

Review Score: 4.7/5

• Casino Immersion: 4.5/5 WildCasino offers a classic casino experience with a good selection of games. However, incorporating more modern and innovative games could enhance its appeal to a broader audience.
• High Roller Options: 5/5 The high-limit tables and exclusive VIP options make it an attractive choice for high rollers. These features provide an exclusive gaming experience, though more personalized VIP services could be added.
• Customer Support: 4.7/5 Known for its reliable customer support, WildCasino ensures a smooth gaming experience. While the support is commendable, quicker response times and more support channels could further improve customer satisfaction.

Classic Casino Experience with a Crypto Twist

WildCasino brings the essence of traditional online casinos into the crypto casino world. It offers a range of classic casino games, including popular table games and slot games, appealing to those who enjoy the traditional casino atmosphere. As a bitcoin casino site, it integrates the classic with the modern, offering a unique experience among cryptocurrency casinos.

Exclusive Options for High Rollers

This bitcoin casino is a haven for high rollers, offering high-limit tables and exclusive VIP options. Such features make WildCasino one of the best choices for players seeking higher stakes and more significant wins. The VIP treatment and high-stake options are a unique selling point for this BTC casino.

Reliability and Security

Security is paramount in all online casino business. WildCasino is known for its reliability and the safety measures it employs. The commitment to protecting player data and transactions solidifies a position as a top contender for secure gambling.

Visit Wild Casino → BetPanda

Review Score: 4.5/5

• Mobile Gaming Focus: 5/5 BetPanda’s mobile gaming experience is seamless and intuitive, making it ideal for on-the-go gaming. Enhancements in app performance and additional mobile-exclusive features could further elevate the mobile gaming experience.
• Diverse Gaming Portfolio: 4/5 The wide range of games, including live dealer options, caters to various player preferences. However, the addition of more unique and exclusive games could make the platform more competitive.
• Regular Tournaments: 4.5/5 The regular tournaments add a competitive edge, but they could offer larger prize pools and more varied formats to increase player engagement and excitement.

Optimized for the Mobile Gamer

BetPanda shines as a bitcoin casino online with its exceptional mobile gaming experience. The platform is perfectly optimized for mobile devices, offering smooth gameplay for players on the move. This focus on mobile gaming sets BetPanda apart from many online casinos, making it a top choice among bitcoin casino sites for mobile users.

A Wide Array of Gaming Options

As a leading bitcoin casino, BetPanda offers a diverse range of casino games. From the latest slot games to immersive live dealer games, this platform caters to all types of casino enthusiasts. The variety of games available is a key factor in BetPanda’s reputation as one of the best bitcoin casino sites.

Competitive Tournaments for Players

BetPanda hosts regular tournaments, adding a competitive edge to the experience. These tournaments are a draw for players who enjoy an extra challenge, making BetPanda a go-to platform for competitive gaming.

Visit Betpanda Casino → BitStarz

Review Score: 4.5/5

• Award-Winning Platform: 5/5 BitStarz’s status as an award-winning casino highlights its excellence in gaming and customer service. This recognition is well-deserved, reflecting the high-quality experience it offers.
• Quick Withdrawals: 4.3/5 The fast withdrawal times are a major convenience, setting BitStarz apart from many competitors. While the speed is impressive, expanding the range of withdrawal options could provide even greater convenience.
• Extensive Game Library: 4.5/5 The extensive library of games, including exclusive titles, provides a diverse gaming experience. Adding more innovative and interactive games could further solidify its position as a top online casino.

An Award-Winning Leader in Bitcoin Casino Gaming

BitStarz stands out as an award-winning bitcoin casino, renowned for its exceptional service and high-quality bitcoin casino games. This platform has received multiple rewards as one of the best bitcoin casinos in the industry. The recognition is a testament to BitStarz’s commitment to excellence in all areas.

Exclusive Gaming Options

BitStarz offers exclusive bitcoin casino games, setting it apart from other bitcoin casino sites. These unique games provide a one-of-a-kind gaming experience, a feature that is highly sought after at Bitcoin casinos. The exclusivity of its games is a major draw for players looking for something different from traditional online casinos.

Flexible Banking Options

Supporting a variety of cryptocurrencies and fiat currencies, BitStarz caters to a wide audience. This flexibility in banking options makes it a versatile choice among cryptocurrency casinos, appealing to a broad range of players. The multi-currency support is a key feature that ranks BitStarz among the best bitcoin casino sites.

Visit Bitstarz Casino → Flush.com

Review Score: 4.5/5

• Innovative Rewards System: 4.8/5 The innovative rewards system adds an extra layer of excitement to the gaming experience. Enhancing the rewards to include more personalized perks could increase player loyalty.
• Variety of Live Dealer Games: 4.5/5 The selection of live dealer games is impressive, providing an immersive experience. Expanding the range of live games and including more interactive features with dealers could enhance the live gaming experience.
• User-Centric Interface: 4/5 The platform’s design is focused on user ease, but incorporating more advanced customization options could enhance user engagement and satisfaction.

Rewarding Players with Innovative Programs

Flush offers an innovative rewards system, distinguishing it from other bitcoin casinos online. The VIP program is designed to provide exclusive benefits, including special bonuses and personalized customer service. These rewards are what make Flush.com one of the best crypto casino sites for player incentives.

High-Quality Games from Top Providers

Partnering with leading software providers, Flush offers a range of high-quality and fair casino games. This collaboration with top software providers is essential for maintaining the integrity and appeal of the games, a must-have feature for legit crypto casinos.

User-Friendly Interface for Easy Access

The ease of use of the platform makes it a top choice among bitcoin casino sites. Both new and experienced players can navigate the site effortlessly, finding their preferred casino games with ease. The user-friendly interface is a significant factor in the appeal of a top bitcoin casino.

Visit Flush Casino → Luckyblock

Review Score: 4.3/5

• Blockchain Integration: 4.5/5 The use of blockchain technology for enhanced fairness and transparency is a major advantage. More innovation in blockchain integration could position Luckyblock as a leader.
• Progressive Jackpots: 4/5 The attractive progressive jackpots are a huge draw, but increasing the frequency and size of these jackpots could make the platform even more appealing.
• Global Accessibility: 4/5 Luckyblock’s wide accessibility is a strong point, though expanding language support and localized content could further enhance the global appeal.

Leveraging Blockchain for Enhanced Fairness

Luckyblock, a leading name among crypto casinos, utilizes blockchain technology to ensure fairness in its bitcoin casino games. This technology is a significant draw for players looking for provably fair games, a trait of the best crypto casinos.

Diverse Gambling Options with Global Lotteries

Apart from traditional casino games, Luckyblock offers global lottery options, a unique feature among bitcoin casinos online. This diversity in gambling options provides players with a comprehensive experience, making Luckyblock a top choice among the best bitcoin casino sites.

Rapid Growth and Popularity

Luckyblock’s innovative approach has quickly made it one of the top bitcoin casinos. Known for its wide range of gaming options and technological advancements, Luckyblock is rapidly gaining popularity in the player communities.

Visit Luckyblock Casino → Betplay

Review Score: 4.3/5

• Instant Bitcoin Deposits: 4.5/5 The focus on instant Bitcoin deposits makes starting the gaming experience incredibly fast and easy. Expanding instant deposit options to include more crypto could appeal to a broader range of crypto users.
• Provably Fair Games: 5/5 The emphasis on provably fair games is a standout feature, ensuring transparency and trustworthiness in the gaming experience. This commitment to fairness is a key reason why Betplay ranks highly among the best bitcoin casino sites.
• Regular Bonuses: 3.8/5 Regular bonuses add extra value to the gaming sessions, though diversifying these bonuses to cater to different types of players could enhance player satisfaction.

Fast Transactions with Lightning Network

Betplay, a prominent bitcoin casino site, supports the Lightning Network, ensuring fast and efficient transactions. This feature is appealing to players who value speed and efficiency in their gaming experience.

Commitment to Provably Fair Gaming

This btc casino focuses on offering provably fair games, ensuring transparency and fairness in its gaming options. The emphasis on provably fair gaming makes Betplay a top choice among the best bitcoin casino sites, appealing to players who prioritize trust and integrity.

Dedicated Crypto-Only Gaming Platform

Betplay’s dedication to being a crypto-only casino makes it a unique player in the world of cryptocurrency casinos. This focus on cryptocurrency appeals to pure crypto enthusiasts, setting Betplay apart from traditional online casinos.

Visit Betplay Casino → Metaspins

Review Score: 4/5

• Metaverse Integration: 4/5 The integration into the metaverse offers a unique and futuristic gaming experience, setting Metaspins apart from traditional online casinos.
• High RTP Games: 4.5/5 Offering games with high Return to Player (RTP) percentages increases players’ chances of winning. Further expanding the selection of high RTP games could attract a wider audience.
• Community Features: 3.8/5 The emphasis on community features allows for meaningful interaction among players. Enhancing these features with more social elements and community-driven events could further enrich the gaming experience.

Futuristic Gaming with Metaverse Integration

Metaspins integrates with the metaverse, offering a cutting-edge gaming experience. The high-tech integration sets it apart from traditional online casinos and even many online crypto casinos. We like this futuristic approach of Metaspins as it adds a little extra to the experience.

High RTP for Increased Winning Opportunities

This bitcoin casino site offers games with high Return to Player (RTP) percentages, making it a preferred choice for players looking for better odds. The high RTP games are a significant draw for players and are often highlighted in the best bitcoin casino reviews.

Interactive Community Features for Social Gaming

Metaspins emphasizes player interaction, setting it apart from many other Bitcoin casinos online. This focus on community features makes it one of the best crypto casino sites for players who enjoy a social gaming experience. The interactive community aspects enhance the overall enjoyment and engagement.

Visit Metaspins Casino → Getting Started at the Best Bitcoin Casinos

When getting started at the best Bitcoin casinos, it’s crucial to consider sites that offer a wide range of games, including your favorites. Pay close attention to the bonuses and other promotions, understanding their terms and conditions.

Ensure the casino has a diverse selection of games from renowned software providers and offers quick transaction processes for deposits and withdrawals. Prioritize casinos that provide robust security measures, maintain anonymity, and are licensed and regulated by credible authorities.

Good customer support is also essential, and always be aware of the legalities of online gambling in your region. By considering these factors, you will enjoy a safe, enjoyable, and potentially lucrative experience.

Choosing the Best Provably Fair Bitcoin Casino

The hallmark of top-tier Bitcoin casinos is a commitment to provably fair gambling. This technology allows players to verify each bet’s fairness, ensuring that the outcome is not manipulated.

When choosing a crypto casino, prioritize those that offer transparency. Look for sites that are audited by third parties and have certifications displayed on their site.

Additionally, review articles like this one and community opinions can provide real-player experiences that help in assessing the credibility of casinos.

Bitcoin Casino Games

The variety of Bitcoin casino games has expanded significantly in the last couple of years. Players now have access to an array of games made even better with crypto, including:

• Slot Games: From classic three-reel slots to multi-line video slots with advanced graphics and themes.
• Table Games: Including classics like blackjack, roulette, baccarat, and craps, with variations to suit all types of players.
• Poker Rooms: Offering a range of poker games, from Texas Hold’em to Omaha, often with tournaments and live play.
• Live Dealer Games: These games stream a live dealer, combining the convenience of online play with the authenticity of a live experience.
• Specialty Games: Such as bingo, keno, scratch cards, and virtual sports betting.

Security, Reputation, Trust

The security of a Bitcoin casino is paramount. The best casinos employ advanced security measures like SSL encryption to protect user data. They are often licensed by recognized gaming authorities, which adds a layer of trustworthiness. Reputation is another critical factor. Long-standing casinos with a history of positive player reviews are generally more reliable. Additionally, responsive and helpful customer support is a sign of a casino’s commitment to its players.

Crypto Payment Options at Bitcoin Casinos

While Bitcoin remains the most popular cryptocurrency for gambling, many casinos now accept a variety of digital currencies, including Ethereum, Litecoin, Dogecoin, and Bitcoin Cash. Each of these offers different benefits, such as lower transaction fees or faster processing times. Some casinos even provide special bonuses for using certain cryptocurrencies.

Bitcoin Casino Bonuses in 2024 Best Welcome Bonus

A substantial welcome bonus can significantly enhance your initial experience at a Bitcoin casino. Many top casinos offer match bonuses, where the casino matches your deposit up to a certain amount. For example, a 100% match bonus up to 1 BTC. These bonuses often come with wagering requirements, so it’s essential to read the terms and conditions.

No Deposit Bonuses

No deposit bonuses are a great way to try out a casino without risking your own money. These bonuses might be in the form of a small amount of Bitcoin or free spins on slot games. While these bonuses are generally smaller than welcome bonuses, they offer a risk-free way to experience real money games.

Free Spins

Free spins are particularly popular among slot game enthusiasts. Casinos might offer these as part of a welcome package or as a reward in ongoing promotions. Some casinos offer hundreds of free spins, allowing players to explore a variety of slot games.

Cashback Bonus

A cashback bonus provides players with a refund of a percentage of their losses over a specific period. This bonus acts as a safety net and can vary from 5% to 20% of the lost amount, depending on the casino’s policy.

VIP/Loyalty Bonuses

For regular and high-stake players, VIP programs offer exclusive benefits like personalized bonuses, higher betting limits, faster payouts, and even personal account managers. These programs are often tiered, and players can climb the ranks based on their activity and betting volume.

Withdrawal Process and Limits

Understanding the withdrawal process in Bitcoin casinos is crucial for a smooth gaming experience. Top casinos pride themselves on fast and transparent withdrawals. Here’s what to consider:

• Withdrawal Limits: Casinos often set minimum and maximum withdrawal limits. These can vary greatly, with some casinos offering high limits ideal for high rollers.
• Processing Times: One of the advantages of Bitcoin casinos is the speed of transactions. Withdrawals in cryptocurrencies are typically processed much faster than traditional banking methods, often within 24 hours.
• Payout Percentages: Pay attention to the payout percentages of different games. Higher payout percentages mean more favorable odds for the player.
• Taxes and Legal Considerations: Depending on your jurisdiction, winnings from gambling may be subject to taxes. It’s important to be aware of and comply with your local laws regarding cryptocurrency and gambling winnings.

Crypto Casinos VS Traditional Fiat Casinos Pros of Crypto Casinos:

1. Anonymity and Privacy: Cryptocurrency transactions offer more privacy than traditional banking methods.
2. Lower Fees: Generally, crypto transactions come with lower fees compared to fiat currency transactions.
3. Global Accessibility: Cryptocurrencies are not bound by national borders, making them accessible worldwide.
4. Innovative Games: Crypto casinos often feature newer, more innovative games, including provably fair games.
5. Bonuses and Promotions: Often more lucrative and frequent than those in traditional online casinos.

Cons of Crypto Casinos:

1. Volatility: Cryptocurrency prices can be highly volatile, which may affect your casino balance and winnings.
2. Regulatory Uncertainty: The legal landscape for cryptocurrencies is still evolving, which can affect the availability and operation of crypto casinos.
3. Complexity for New Users: For those unfamiliar with cryptocurrencies, there’s a learning curve in understanding wallets, keys, and transactions.

Are All Bitcoin Casinos Legitimate?

Not all Bitcoin casinos are created equal. While many are legitimate, offering fair games and secure environments, others may be less reputable. Here’s how to ensure you’re playing at a safe crypto casino:

• Licensing and Regulation: Check if the casino is licensed by a reputable gaming authority.
• Security Measures: Look for casinos that use strong security protocols, like SSL encryption.
• User Reviews and Reputation: Read user reviews and check community forums for real-player feedback.
• Software Providers: Reputable casinos partner with well-known and reliable software providers for their games.

Restricted Countries

Due to varying regulations, some Bitcoin casinos may not be available in certain countries. If you are looking for crypto casinos in the UK, we suggest these reviews of the best casinos not on Gamstop, as they have a larger selection. Always check the casino’s terms and conditions to see if your country is listed among the restricted territories.

Most Popular Games to Play in 2024

In 2024, the variety and innovation in games are more impressive than ever. Players have access to an incredibly diverse range of gaming options for all tastes and experience levels.

Slots

The slot games have always been a staple in the casino world, and they continue to thrive in the online realm. Classic three-reel slots bring a touch of nostalgia with their simple, straightforward design and traditional symbols, reminding players of old-school fruit machines.

Video slots, on the other hand, offer a more immersive experience with advanced graphics, engaging themes, and interactive bonus rounds.

For those mega wins, progressive jackpot slots are particularly appealing. These games are networked across various online casinos, allowing the jackpot to grow significantly with each bet placed by players worldwide.

Table Games

Table games remain at the heart of the casino experience. Blackjack, with its blend of skill and luck, challenges players to beat the dealer. Roulette, a quintessential game of chance, captivates players with its spinning wheel. Baccarat’s elegance lies in its simplicity, offering a straightforward gameplay where players bet on one of three outcomes: player win, banker win, or tie.

Live Dealer Games

The live casino segment brings the authentic casino experience right to players’ screens. Live blackjack and roulette games are conducted by real dealers, streamed in real-time, offering a social and interactive gaming experience. Live game shows have emerged as a fascinating blend of TV-style entertainment and casino gaming, providing unique and engaging ways to gamble.

Specialty Games

For quick and easy fun, specialty games like bingo, keno, and virtual sports betting are perfect. These games are ideal for those looking for instant outcomes, with simple rules and engaging gameplay.

Scratch cards, the digital counterpart of traditional scratch-offs, offer instant wins and are a hit among players who enjoy a quick gaming session.

Crypto Games

The cryptocurrency space has given rise to unique gaming concepts. Crash games, where players bet on an increasing multiplier that could crash anytime, offer a thrilling experience with the challenge of cashing out before the crash.

Dice games, although simple in concept, have gained popularity for their straightforwardness and the ability to set one’s own odds.

Plinko, drawing inspiration from a famous game show, provides an amusing way to gamble, where players drop a ball down a pegged board to win varying multipliers.

Sports Betting Platforms

Sports betting have become an integral part of Bitcoin casinos, with traditional sports betting allowing wagers on various sports like football, tennis, cricket, golf and basketball. The inclusion of esports betting adds another dimension, catering to fans of competitive gaming events.

New Bitcoin Casino Brands

2024 has seen the launch of numerous new online crypto casino platforms, many of them bringing something unique to the market. The new sites often push the envelope with innovative features, more games, or unique bonus structures.

When evaluating new casinos, consider their game selection, bonus offerings, security measures, and user reviews to ensure a safe and enjoyable experience.

Sign-up and Start Playing in 5 Easy Steps Step 1: Choose the Right Bitcoin Casino

The journey begins with finding the right platform, and this article provides just that. Focus on the important factors like reputation, security, game variety, and bonus offerings.

Look for licensed casinos with strong user reviews and clear policies on deposits and withdrawals. It’s essential to choose a casino that offers a wide range of your preferred casino games and also provides robust customer support.

Step 2: Register an Account

Once you’ve chosen a casino, the next step is to register an account. During registration, you’ll be asked to provide some basic information such as your email address, a username, and a password.

Some sites might also request additional details for verification purposes. It’s important to use real information to ensure a smooth experience with deposits and withdrawals. After completing the registration, you’ll receive an email to confirm your account.

Step 3: Deposit and Claim Bonuses

After setting up your account, you’ll need to deposit funds to start playing. Navigate to the cashier section, select the option to deposit, and choose Bitcoin or another cryptocurrency that is available.

You will be given an account address to send your funds to. Make sure to copy this address correctly when transferring BTC from your wallet. All the top crypto casinos in our list offer a welcome bonus or deposit bonus, and this is the step where you claim it.

A bonus can include free spins on slot games or a match bonus on your deposit, enhancing your initial bankroll. Always read the terms and conditions associated with these bonuses to understand the wagering requirements.

Step 4: Explore Games and Pick Your Favorites

With your account funded, it’s time to explore the game library. Typically the sites offer a vast array of games, including popular slots, classic table games like blackjack and roulette, poker, and live dealer games.

Many sites categorize their games efficiently, making it easy to navigate and find your favorites. If you are a beginner, you might want to start with simpler games like slots before moving on to more strategy-based games like blackjack or poker.

For a more immersive and interactive experience, try the live dealer games where you can play against real dealers and other players.

Step 5: Play and Enjoy

Now that you’ve chosen your games, it’s time to start playing. Whether you’re into sports betting, slot games, or challenging the dealer in live games, ensure you gamble responsibly.

Set a budget for your play, stick to it, and never chase your losses. Gambling should always be fun and not a way to make money. If you encounter any issues or have questions, don’t hesitate to contact the casino’s customer support for assistance.

Article Summary

The world of Bitcoin casinos in 2024 is vibrant and diverse, offering many options for the players. From the vast array of games and generous bonus offers to the security and convenience of using cryptos, the top scoring casinos cater to a wide range of preferences.

As the landscape continues to evolve, Bitcoin casinos stand out for their innovation, accessibility, and enhanced player experience. Remember, responsible gambling is key, and choosing a trustworthy and secure casino is crucial for safe and enjoyable gaming.

FAQ What are Bitcoin Casinos?

Bitcoin casinos are online gambling platforms that use Bitcoin as a primary currency for deposits, withdrawals, and gameplay. Unlike traditional online casinos, bitcoin casinos offer the added benefits of increased privacy, faster transactions, and access to innovative games like provably fair games. They have become a popular choice for players seeking a more secure and efficient option.

How Do I Start Playing at Bitcoin Casinos?

To start playing at bitcoin casino sites, first choose one of the best bitcoin casinos online. Register by providing necessary details, and then make a deposit using Bitcoin or other cryptocurrencies. Many bitcoin casinos offer a welcome bonus, including deposit bonuses or free spins, to new players. Once your deposit is confirmed, you can start playing a variety of casino games, from slot games to live dealer games.

What Games Can I Play at Bitcoin Casinos?

Bitcoin casino games include a wide range of options. You can enjoy traditional casino games like table games and slot games, as well as live dealer games for a more immersive experience. Most bitcoin online casinos also offer sports betting platforms. The variety of games at crypto casinos often surpasses that of traditional online casinos, ensuring there’s something for every player.

Are Bitcoin Casinos Legal and Safe?

The legality of bitcoin casinos depends on your country’s regulations on online gambling and cryptocurrency. Most top bitcoin casinos operate legally and are licensed by gaming authorities. As for safety, the best bitcoin casino sites prioritize security measures and responsible gambling.

Can I Get Bonuses at a Crypto Casino?

Absolutely! Bitcoin casinos are known for their generous casino bonuses. These can include a welcome bonus for new players, free spins on slot games, deposit bonuses, and loyalty rewards. Crypto casino bonuses are often more lucrative compared to traditional online casinos, making them very attractive for players.

What is a Provably Fair Game?

Provably fair games are unique to crypto casino sites. They use cryptographic algorithms to ensure the outcome of a game is fair and transparent. This system allows you to verify the fairness of each game round, ensuring a trustable environment. Provably fair games are a hallmark of legit crypto casinos.

How Do Deposits and Withdrawals Work in Bitcoin Casinos?

Deposits and withdrawals at bitcoin casinos are straightforward. To deposit, you transfer Bitcoin or other cryptocurrencies from your wallet to the casino’s address. Withdrawals are similar, where you transfer your winnings back to your wallet. Bitcoin transactions are usually faster and more secure than traditional banking methods, making them ideal for online gambling.

Can I Use Other Cryptocurrencies at Bitcoin Casinos?

Yes, many bitcoin casinos online also accept other cryptocurrencies like Ethereum, Litecoin, and Bitcoin Cash. This variety offers more flexibility for your online gambling needs. The best crypto casinos provide multiple crypto payment options, catering to different preferences.

Are There Live Dealer Games at Bitcoin Casinos?

Yes, many bitcoin casino sites offer live dealer games. These games provide an experience similar to being at a physical casino, with real dealers and live streaming. Live dealer games at btc casinos include popular options like blackjack, roulette, and baccarat.

How Do I Choose the Best Bitcoin Casino?

To choose the best bitcoin casino, consider factors like the range of games offered, the quality of casino bonuses, the casino’s security measures, and customer support. Also, look for licensed casino sites with positive reviews. The best bitcoin casinos provide a wide range of games, generous bonuses, and are committed to responsible gambling.

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