Bitcoin Embassy - check what a cryptocurrency casino is!

2 min reading

Bitcoin Embassy is a rather unusual project which is a casino associated with the world of cryptocurrency. Find out what Bitcoin Embassy is and how it works!

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Bitcoin Embassy

Unfortunately, what lies behind Bitcoin Embassy has been kept secret and you can only guess or check in person. The premises under this name are characterized by strongly bitcoin decor. Graphics with the BTC logo on the windows, cryptocurrency rugs and other elements indicating a place strongly associated with digital coins. If believing the information contained on the Internet and users' posts on the forum, there is a bitomat and computers in the premises. Thus, it can be assumed that this is an ordinary place where you can buy cryptocurrencies.

However, there are some doubts as to whether Bitcoin Embassy is for the sole purpose of exchanging cryptocurrencies. Such opinions began to be strongly popularized in August 2019 during the loud attack of customs officers on the Bitcoin Embassy cryptocurrency facility. This event increased interest in the place itself. There were opinions that these are "murky bitcoin-gambling establishments all over Poland". In principle, nothing is wrong in gambling alone, if not for the gambling act, which since 2017 prohibits, among others, advertising and sharing games of this type throughout Poland. So there was a suspicion that Bitcoin Embassy are gambling establishments that bypassing the bill with the help of cryptocurrencies. Searching for information on this subject, there are opinions that on the computers that are located in the premises were installed gambling games. However, they only allow games for cryptocurrencies.

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How does Bitcoin Embassy Casino work?

The whole process looks like this. The customer enters the premises, exchanges the FIAT currency using a bitomat for cryptocurrencies that are a kind of tokens. Then, after the gambling ends, the customer can exchange their cryptocurrencies for fiat currencies. In this way, we are not dealing with gambling, but only with the purchase and sale of Bitcoin. One might wonder what if the customer does not understand Blockchain technology and he has no idea how the bitomat works. Here, "good souls" come to the rescue and lead the client "by the hand." Regardless of whether this is true, the overtone in the media is unfortunately very negative for cryptocurrencies. Bitcoin is once again shown as a tool to bypass or break recipes.

Focusing on the facts themselves, Bitcoin Embassy is a limited company that provides financial intermediation services and is basically the only thing that is certain. On the other hand, for cryptocurrency supporters, it is important to note that bitomats can be found at Bitcoin Embassy locations. Only information about the unclearly determined commission can be disturbing. Data and comments that can be found on the internet show that in Bitcoin Embassy bitomats the commission is displayed at the time of exchange, it is not dependent on the amount and is sometimes very high. Referring to the gambling sites themselves, the cryptocurrency community is no problem finding online cryptocurrency casinos that are equally anonymous and do not require leaving home.