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Cryptocurrencies have revolutionized the online finance industry. Today, bitcoin is the most
popular digital currency and a true game changer in the online casino industry. Wagers and online casinos can now depend on bitcoins as a fast and effective payment method that cannot be sanctioned by authorities and central banks.
The Legality of Bitcoin Gambling in Japan
In Japan, wagering is restricted by the Criminal Code under chapter 23, which contains
multiple exceptions on gambling on horse racing, public sports, and motor sports. Remember, Japan is known to be very strict concerning law adherence.
With the generality and unclear clarification of betting laws, Japanese casino players and
bitcoin enthusiasts find it a bit confusing. Many lawyers strongly argue that chapter 23 of the Japanese penal code is not clear regarding bitcoin casinos. There are common views that just like other exceptions, bitcoin casinos are also exempted by Japanese penal code.
Nevertheless, the Japanese government classifies them as illegal.
The Current State of Bitcoin Casino Gambling in Japan
Casino players and bitcoin lovers are at crossroads in Japan because the legal system and provisions governing their activities is a gray area. The situation acts as a safer haven for bitcoin casino players because they are often troubled. The unclear regulatory scenario has further improved the cryptocurrency market in Japan. It is one of the leading countries in cryptocurrency trading, accounting for more than 50,000 bitcoin trades per day.
Regulators are now in a hurry to embrace other digital currencies and ethereum (ETH), which has gained a lot of admiration in the mobile gaming sector. Contrary, the Japanese
government is indirectly promoting bitcoin casinos. Nowadays, it is so common to find an
experienced Japanese gambler using an online bitcoin casino without fear of punishment or arrest. Since most Japanese bitcoin casino punters play from the comfort of their homes, it is hard to curb bitcoin wagering in Japan. Additionally, most bitcoin casinos available in Japan are hosted by overseas markets, fleeing them from the Japanese rule of law.
How to Use Bitcoins to Load Your Casino Account
Depositing bitcoins into your casino account is to some extent a different process from the
one you usually use to load a normal casino account. First, you must have bitcoins in a BTC
wallet- if you don’t have, you will be prompted to buy some from a cryptocurrency exchange or Peer-to-Peer platform, like LocalBitcoins.
After acquiring some coins in your BTC account, proceed to the payment section of your
casino account, choose BTC as your payment method, and copy the BTC address in display. Paste the address in your bitcoin account, enter the amount you want to deposit, and click the Send button. Once you have initiated your transaction, it will be verified across the blockchain network as usual before reflecting in your available balance section. The process of loading money into your casino account through bitcoin is one of those things that seems more comfortable the second moment.
How to Withdraw Your Winnings in Bitcoins
It is possible to cash out your winnings in BTC, and by the way, this is often the only
withdrawal payment method supported by most online bitcoin casinos. The withdrawal
process is the reverse of the deposit process- you simply request your winnings to your BTC wallet, and wait for the transaction to be completed. You can decide to hold, trade, or convert your coins into fiat money.
Bitcoin Casino Bonus Japan
Japanese casino gamblers can enjoy good benefits from using certain bitcoin casinos. There are online casinos that provide no deposit bonus Japan, which wagers can take advantage of while signing up. Japanese casino players can also be awarded free spins, and match bonuses in bitcoins. The maximum match bonus that a Japanese casino gambler can obtain can go up
to five bitcoins. Some online casinos also have bonus codes that gamblers can use during the sign up process. Advantages of Playing at a Japanese Bitcoin Casino
Whit the use of online bitcoin casino, there are several benefits that Japanese players can take advantage of compared to the use of traditional casinos:
Japanese gamblers can access good odds and enjoy playing anonymously
Bitcoin transactions eliminate the use of third parties, implying that there is no need to link
your debit or credit card to send and receive payments. Besides, bitcoin transactions are
almost instant. Since the Japanese government has not recognized cryptocurrencies as real money, they are not subjected to taxation yet. The use of bitcoins for deposits and withdrawals has little transaction charges. Actually, it is almost free!
Cryptocurrencies are likely to completely change the finance sector soon. Central banks all
over the world are already considering the possibility of going wholly digital with their
currency. Bitcoin and other digital currencies are benefiting from the growing reputation,
increased investor activity, and a high drive to positively control and boost cryptocurrencies in mainstream investment circles.
For online casino betting, bitcoin represents one of the newest methods of funding accounts and withdrawing earnings. Blockchain features, such as decentralization and anonymity make bitcoin a better alternative for executing online transactions.