Each and every day new cryptocurrencies arise in the crypto market. Not only that but there are many “Bitcoin” alternatives that even partially adopt the same name. However, what is the difference between each version of Bitcoin? Are they made by the same developers? And most of all, why would anyone want to use them instead of Bitcoin or other, more popular tokens.
Well, this is an article that will give an answer to all of your questions, but for starters, it should be known that Bitcoin SV in particular is not part of the developers behind Bitcoin. We will talk more about the history of BSV in a moment, but before that, let’s talk crypto casinos.
Crypto casinos have never been more hyped than they are right now. There cannot be a comparison at all. Since the crypto market boom in 2021, more people started buying tokens, resulting in more people looking for ways to spend crypto for entertainment. One of these stops, of course, is the crypto casinos industry. It is a fun way to pass time for many out there.
In order to understand why you might want to try BSV as a payment method, we’ll have to look at what BSV is, and what its benefits are. If you are not interested in the history of the token and how it works, you can skip that sub-section. Without further ado, let’s dive into it.
Bitcoin SV stands for Bitcoin Satoshi’s Vision. Satoshi Nakamoto is the alleged creator of Bitcoin, the first-ever cryptocurrency. The Bitcoin SV blockchain was developed in 2018, as a hard fork of Bitcoin Cash, which is a fork of Bitcoin. Forking is the term used when a blockchain partially copies the operational code of another blockchain, using it as a foundation, but with changes in the protocol.
The goal of BSV is to stay true to the whitepaper written by Satoshi Nakamoto, aiming for scalability and stability, becoming an enterprise-level blockchain supporting dApps, decentralized finances, and more.
nChain, the team behind BSV, has unbound the block size of BSV, resolving many of the issues Bitcoin has in terms of congestion. In theory, this allows the blockchain to process tens of thousands of transactions, but also maintain adequate transaction fees. Additionally, BSV offers advanced capabilities such as smart contracts, personalized tokens, computation, data usages, and more.
BSV also offers companies and agencies an attractive field to experiment with the blockchain technology, attracting many enterprises and government users.
Crypto casinos differentiate from each other due to many factors. Obviously, the first is what currencies they accept, and what these currencies can offer. These tokens can offer decentralization, anonymity, transaction costs & speed, availability, scalability, and other features that regular fiat currencies can never.
For BSV, the main difference is the potential it has to become truly decentralized. For now, the network is only partially decentralized, but in the upcoming years, it is expected to reach its final form. This means that no governments or organizations of any sort will be able to tamper or manipulate anything that happens on the network. Translating this into crypto casinos it will mean that nobody will know whether or not you are making deposits to and withdrawals from a crypto casino.
Anonymity is another strong point that BSV has (or rather pseudonymity). This is possible because of its partial decentralization as well as the fact that the network does not require you to provide extensive personal information. Additionally, each transaction is masked, meaning nobody will know whether or not it is your or someone else’s.
Because decentralization and pseudonymity are such important factors of BSV, this also allows the token to be available worldwide. Of course, this shouldn’t surprise you as most cryptocurrencies are available worldwide. What this means is that no matter where someone is and whether there are government rules placed against cryptocurrencies or crypto casinos, they can easily be bypassed with the help of a VPN network. However, not all crypto casinos accept VPN players, so make sure to check with the casino you plan on staying with.
Now, the block time if BSV is nothing truly impressive, it is the same as Bitcoin, standing at 10 minutes. This means that your transactions will take a maximum of 10 minutes time to be completed. Of course, when you compare this with fiat payment methods, it is way faster, as some need days to complete a transaction. Overall, your deposits and withdrawals will take no more than 10 minutes to be completed.
Each transaction for BSV costs, on average, about $0.20. This means that even if you were to purchase BSV 50 times, you’d only pay around $10 in fees. This is a great advantage as Bitcoin and Ethereum have transactions fees between $20 and $50, depending on how congested the networks are. Low transaction costs are always a must, as this could mean you will be losing a lot in the long term, which, of course, is something that nobody wants.
If you are a low-risk player, you will be delighted to know that crypto casino games that accept BSV allow for lower entry bet of less than $0.01 when converted to USD. However, those who love higher stakes can also benefit as the upper limits are expanded usually in the thousands. This is something that fiat currencies will never accomplish, as there are certain regulations that developers must abide by, thus the impossibility to experiment.
In our previous sub-section, we mentioned the most important factors that make BSV a great cryptocurrency and BSV casinos a great place to tap into. However, there are many benefits that we could not fit within the section, so we have our favorite "pros & cons" section, where we add some additional advantages, as well as keep transparency about the disadvantages. We believe it is very important to be clear about all positives as well as negatives, because crypto casinos can sometimes be tricky, especially in terms of regulations. So without further ado, let's get straight into it.
New online casinos accepting Bitcoin SV deposits
BSV is not yet available on the biggest crypto exchange platform, Binance, but it is available for purchase at KuCoin, Huobi Global, Gate.io, Bithumb, Bittrex, Coinone, and more. The reason why we mention Binance, is because once a cryptocurrency is listed there, its volume skyrockets.
You will also need a crypto wallet, which nowadays most crypto exchange platforms have integrated. However, if you are not interested in integrated wallets, we suggest checking out MetaMask, Trust Wallet, Exodus, etc.
BSV is a great cryptocurrency for many reasons, as we explored. This makes it a beneficial token to use at crypto casinos, thus BSV casinos are a great landing point for beginners and experienced players alike. Many will find the decentralization and pseudonymity highly advantageous, while others will love the low transaction fees and low transaction time in comparison to fiat payment options.
We suggest you consider BSV casinos or at least give them a try. This is easy to do due to the low betting limits, allowing you to test such casinos for as little as $0.01 per spin at slots, for example.
As a bonus, we will leave you with our FAQ section, where you will find some unique and some condensed information.
Yes, most BSV casinos are regulated by Curacao, which is definitely not the best regulator out there, but owners have no other choice, as MGA and UKGC are not fond of the idea of cooperating with crypto casinos as of yet.
Some of the better advantages of BSV casinos are mostly based on the cryptocurrency advantages. These include, but are not limited to, low transaction fees, quick transactions, decentralization, pseudonymity, expanded betting limits.
Yes, you can. Mostly because BSV is a cryptocurrency that is available worldwide and crypto casinos sometimes accept players who use VPN software. However, just to make sure, check in with customer support whether or not the casino accpets players using such software.
The games offered by BSV casinos are not that different from what regular online casinos have to offer. However, the main categories you will be coming across are slots, table games, live casino games, sportsbook sections, as well as some unique crypto games, or sometimes even unique crypto games developed by the casino.