Is the Mega Moolah slot available to play from Latin America using bitcoin?
Given that a few countries in Latin America, suffer from currency problems such as high inflation, it was perhaps no surprise to read news stories that many wealthy South American citizens had decided that bitcoin offered them somewhat of a safe haven.
Given that Latin America incorporates many different countries across Central and Southern America, it is fair to say that the situation regarding bitcoin and the use of cryptocurrencies across this diverse region is very different depending on which country you are visiting.
We have already looked at how bitcoin is becoming big in Brazil and how, potentially, it could become a legal form of tender at some point in the future. However the situation varies across Central and South America from country to country, with some operating a blanket ban on bitcoin, others welcoming the crypto with open arms.
With the new bitcoin-only casino now available for players in Latin America, what is the situation for bitcoin players in terms of how likely they are to have access to the casino and in which countries in this part of the world is bitcoin legal?
Let's take a closer look and find out.
Bitcoin was legalised in Mexico back in 2017, although it is not viewed as a form of legal tender. It is instead viewed as a form of 'virtual asset' by a piece of legislation known as the FinTech Law. This is one of the reasons why Mexico, with its massive population, has become one of the biggest bitcoin hubs in the Latin American region.
Although there are no clear statements as to whether bitcoin is viewed as legal or illegal in the country, there are plenty of reports of people in Nicaragua are using bitcoins increasingly, which suggests that the citizens have access to and are using bitcoins.
The situation is somewhat clearer in Costa Rica where bitcoin and other cryptocurrencies are not considered legal tender and are not backed by the government or subject to any specific laws. Despite that, they are not illegal and can be used by Costa Ricans. There are also a number of different businesses within the country that will now accept bitcoins as a form of payment.
Bitcoins are perfectly legal in Argentina, however they are not a form of legal currency, though they can be considered either goods or an item under the country's Civil Code, which means that the rules of sales that apply for the Civil Code in Argentina, would apply to transactions involving Bitcoin.
Bolivia is one of the few countries in Central or South America which has banned bitcoins absolutely. This has been the case since the Central Bank of Bolivia issued a resolution in 2014 which effectively banned the cryptocurrency (or indeed any other currency not regulated by a country or economic area).
Bitcoin use in Chile is legal but people who do invest in the currency are warned that there is no regulation on the use of bitcoins.
There is a ban on bitcoin in Colombia which applies in the main to financial institutions, who are barred from investing, brokering or managing anything to do with virtual currency. However, there are few laws that seemingly apply to the individual acquiring and using bitcoins and the effect of the ban on the individual user is not fully understood.
Ecuador has taken a somewhat unusual step of banning bitcoin and any other form of digital currency in the country, but rather than just offer a blanket ban, the government has decided to create its own form of state-run electronic money.
This new form of currency is tied to the Ecuadorian Dollar value and is controlled by central government and it is designed to allow the user to pay for some services and to send money between individuals.
However, one notable drawback of this is that this form of cryptocurrency has no inherent value outside of Ecuador, which somewhat defeats the object of having a unified, global digitised currency.
There was a time when cryptocurrencies and mining of bitcoins in Venezuela would see the individual arrested by law enforcement teams, however since January 2018, the stance on bitcoin usage has softened a great deal to the point where the activity is now deemed as legal. Furthermore, any individual arrested in previous years for mining bitcoin, will have the charges dismissed.
This could be partly due to the hyperinflation that is sweeping the country which is effectively rendering Venezuela's national currency as worthless outside of the country. As, strange as it may seem, bitcoin offers a more stable environment for people to keep their money than the newly introduced Bolivar Soberano, the currency which came into usage in August 2018 due to hyperinflation rendering the previous currency, the Bolivar Fuerte, impractical to use.
So which Latin American countries citizens can sign up?
Looking at the list of countries above, and knowing what we do about the improving status of bitcoin in Brazil, it seems that almost all countries in Central and South America will see their citizens be able to log in and enjoy some bitcoin-only gaming on the Mega Moolah slot.
Even in countries where a partial ban is in place, such as Colombia, the difficulty of stopping individual buying and using bitcoin online, using sites based in other countries, makes policing these bans almost impossible to enforce and as such, even in countries where bans exist many individuals still flout the ban and trade and use bitcoins online.
As a new customer, you can benefit from a first deposit bonus that is 100% matched up to 1 BTC. In fact you will receive sizeable bitcoin deposit bonuses on your first two bitcoin deposits at the casino, with the first one mentioned above, and the second one being a 50% matched bonus up to 1 BTC also, and then you will also receive a further 25% Reload Bonus each time that you add funds to your account after this.
There's also plenty of great games to enjoy at the Bitcoin Casino, including the very first chance to play the world record breaking Mega Moolah progressive jackpot slot via bitcoin. Microgaming's famous slot has been in the news recently as it has just smashed the World Record for an online slot prize with an €18.9 million jackpot won at the end of September 2018.
Alongside this game there are a selection of more than 1,200 games to enjoy at the casino, including many that have not been previously available at a bitcoin-only casino. This includes a wide range of games from top quality developers including, of course, Microgaming.
So if you are based in Latin America and have some bitcoins burning a hole in your virtual pocket, then why not take a trip to the Bitcoin Casino offer page and see if you could be one of the first big bitcoin winners at this brand new and exciting bitcoin-only online casino.
Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.
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