An Introduction to Online Casinos with Bitcoin
Bitcoin is a digital currency (or cryptocurrency) invented by an unknown person or group of people named Satoshi Nakamoto in 2009. Bitcoin, in its early days, gained a reputation as a currency for criminals, as it was mainly used by browsers of the Dark Web to pay for illegal activities such as drugs, fake identities and even contract killers, as it offered anonymity like no other payment system.
But it was always the security of the monetary transaction that was Bitcoin’s main selling point – for criminals and non-criminals alike – and as the cryptocurrency grew, so did its reputation as it began to shed that illegitimate image. As early as 2013, U.S. companies like OkCupid and Foodler began accepting it as payment, and it wasn’t long before multinational corporations joined in with the signing of Dell and Newegg in 2014.
By August 2015, an estimated 160,000 merchants accepted Bitcoin as payment, including Barclays, which became the first German bank to accept cryptocurrency. In 2016, NetBet became the first UK-licensed Bitcoin casino to accept Bitcoin, paving the way for more people to follow its lead.
Now dozens of casino online accept Bitcoin as a payment method, as the casino with Bitcoin payout is fast, secure and cheap, and the process of deposit and withdrawal is very simple. Bitcoin is suitable for both the casinos and the players.
Legality and Licenses in Bitcoin Casinos
Bitcoin casino industry is growing really fast and there are a lot of new casinos popping up almost every month. New bitcoin casinos have a lot to prove to get a good reputation among players and cryptocurrency forums.
This means that there are not many player complaints and everything in the casino works well. If you ever encounter problems with any of these listed sites, just post a comment in the online casinos bitcoin pages. It is important that everyone knows about good and bad experiences.
Fortunately, most sites are trustworthy. Unfortunately, there are casino Bitcoin sites that intentionally delay withdrawals or simply provide excuses why the withdrawal is not possible at this point. Or the customer support may be unavailable or answer replies with a delay of days or weeks. These kinds of things need to get out in the open.
Advantages of casinos with bitcoin deposit.
Here are the advantages of online casino with real money for bitcoin compared to other casino payment methods:
● Fast transactions
● Complete privacy & anonymity
● No transaction fees
● Casino pay with bitcoin
The first advantage of using Bitcoin is the privacy it ensures for both casino owners and players. No third party will be given access to your personal and financial information. Moreover, you won’t encounter the chargeback issues associated with standard credit cards.
Many countries around the world have yet to legalize online gambling. As a result, some banking institutions do not go through transactions to and from gambling websites, and players have no choice but to look for alternative deposit methods. In this regard, Bitcoin is the best choice. The transaction is not processed through a third party (bank). You do not have to link a credit/debit card to make a payment via Bitcoin.
Another advantage you should note is that deposits and withdrawals with Bitcoin are instantaneous. In fact, the majority of today’s payment processors offer instant deposits, but withdrawals take at least 2-3 days. If you use Bitcoin, you can withdraw your funds instantly. If you send money to the casino’s Bitcoin address, the desired amount will be transferred immediately after confirmation.
No country in the world has recognized Bitcoin as a real money currency, which can actually be a double-edged sword. Nevertheless, your Bitcoins are not taxable, which is a good thing. Using Bitcoin as your main processor for deposits and withdrawals is cost-effective, as you don’t owe any bank transaction fees. Moreover, you don’t need to reveal your identity. The transactions are anonymous, which is another advantage.
As you can see, using Bitcoin is not complicated. The transactions are fast and secure, but before you switch to depositing via Bitcoin, you should also be aware of the disadvantages.
Disadvantages of Bitcoin Casinos
One of the disadvantages of Bitcoin is that it is not regulated by the government, so in the unlikely event that a casino shuts down and takes your Bitcoin, there are very few options on how to get it back. Bitcoin can also be very risky, as the price of the coin is extremely volatile and can fluctuate wildly within minutes. Bitcoin is a global payment system and can therefore be used in any country on the planet.
Online Casino with Bitcoin Deposit
Whether you’re an avid Bitcoin user or just thinking about taking your first step into the new cryptocurrency on the block, we can’t recommend Bitcoin casinos highly enough! Not only will you benefit from some very tempting no deposit bonuses and promotions, but you’ll also get access to some of the most exciting new games. And that’s not all: the house edge at Bitcoin casinos is actually lower than at traditional casinos, so your chances of winning are also greater! So, you’ve heard all there is to hear about the benefits of Bitcoin casinos. It must be time to start playing. Maybe in the future there will be a dedicated bitcoin card, but until then you can play casino online with real money + bitcoin with the best bitcoin online casinos!
There is one big thing that separates the best crypto casino websites from traditional online casino games. That is the concept of provably fair casino games. Proven fair means that anyone can verify that bitcoin gambling websites are 100% random. Not all casino games are provably fair these days, but more and more are being offered on the markets.
How to make a Bitcoin Casino deposit
It has never been so easy to play at an online casino with Bitcoin deposit. As more and more casino sites start accepting deposits via the cryptocurrency, the process of making a deposit into your Bitcoin account becomes very simple and straightforward. While you can learn more about buying Bitcoin later in this guide, below we have listed the basic steps you need to take to make a deposit at Bitcoin Casino:
● Buy Bitcoin: Register for a Bitcoin wallet and buy Bitcoin to pay the online casino with Bitcoin.
● Visit an online casino that accepts Bitcoin.
● Register for a casino account.
● Visit the deposit page and choose Bitcoin as your payment method.
● Bitcoin casino deposit: enter the amount of BTC you want to deposit and click Confirm.
● Once the transaction is complete, your casino Bitcoin deposit will be credited to your account immediately.
● Start playing your favorite casino games and slots.
Game selection at Bitcoin Casino Online
The game selection at Bitcoin casinos varies widely. There are dozens of different casino game software providers and many websites have a deal with only some of them. Or some websites create their own casino games from scratch. Usually, these games don’t look so flashy, but the casino content is lower. This increases your potential winnings in the long run. The best Bitcoin casinos will offer titles from the most popular software developers. This means that you will have access to all the hottest and biggest slots that you may have played on other online gaming sites. You will definitely find your favorite titles on Bitcoin Casino sites, from Mega Moolah to Gonzo’s Quest, as well as new releases and indie slots.
Bitcoin Live Casino Games
Apart from slot machines, many major bitcoin casinos also offer a wide range of table games. These include video titles and live dealer bitcoin casino games played against professionally trained croupiers. This allows bitcoin casino players to enjoy the thrill of a real casino from the comfort of their own home.
Popular live bitcoin casino games and table games include:
● Blackjack
● Roulette
● Poker
● Baccarat
● Pai-gow
● Dice games
In other words, BTC sites have many variants of all famous casino games, including video poker. Just play one or two of the titles. You’ll soon find that they offer the same entertainment you’re used to, only with the benefits of BTC payouts.
The technical functionality and speed of the casino
Some casino sites work faster than others, depending on the graphical content. If you have a slow computer or network connection, this is also something to consider. My experience in this area is also mentioned in the Bitcoin Casino Reviews.
Bitcoin Casino Games Software
Gaming software providers affect the gaming experience. Almost all Bitcoin casinos have many gaming software providers and you can choose your favorite company in the casino lobby. Some casinos offer their own casino games. Usually in-house games don’t look that good, but they usually work very fast and the house edge is much smaller than flashy vendor games.
Bonuses and special promotions
Who doesn’t want good bitcoin casino bonuses? Almost all casinos offer deposit bonuses where you get extra bitcoins for depositing. Some bitcoin casinos do not offer deposit bonuses by just opening an account for the casino. A good bonus can make your bitcoin gambling a bit more profitable, so it is definitely a thing you should look for. As far as free offers go, a bitcoin gambling site is identical to your usual online and/or mobile casino:
● It extends welcome bonuses to new players.
● It runs special promotions (tournaments, for example).
● It offers free spins and reload bonuses.
● It extends offers to new players who do not receive a deposit bonus.
However, there is one thing you should keep in mind: Playing at a Bitcoin casino does not mean that all promotions are free of wagering requirements or other restrictions. Remember to check the wagering requirements in the bonuses as well.
Bitcoin Wagering Terms and Conditions
Usually, a Bitcoin casino promotion works just like the usual offers, but you should still make sure that you check the terms and conditions of any offer that you accept. When reading the terms and conditions, you should pay attention to the wagering requirements, maximum win limits, and bonus expiration dates.
You should also pay attention to any special terms and conditions regarding which deposit methods are eligible for bonuses. While at all good Bitcoin casinos, bonuses can be collected no matter how you deposit, you may find that some sites only extend bonuses to players who pay using certain methods, such as e-wallets or credit/debit cards. However, in general, these sites should be avoided – because if they set such rules, they obviously do not value their Bitcoin players.
Special offers for BTC players
Like anywhere else, BTC gambling websites may offer:
● Loyalty or VIP bonuses.
● Tournaments with BTC prize pools.
● Raffles with real and virtual prizes.
● Therefore, Bitcoin casino players should be able to benefit from the same offers as regular casino players. The only difference is that you deposited with a different currency.
How can you take advantage of these offers?
Again, the usual ways of opting in to events and receiving bonuses apply to casinos that accept Bitcoin. If you are new to gambling, this is easy to get to grips with. To get a bitcoin bonus, simply navigate to the promotions page when you are at a bitcoin casino and read it. The process of claiming these bonuses and their terms are explained in great detail.
Frequently Asked Questions about Bitcoin Casino
Can I deposit to my online casino account with Bitcoins?
Yes. There are now dozens of Bitcoin online casinos, each offering a unique portfolio of betting games such as roulette and online slots for cryptocurrency customers.
Is it a safe deposit method?
Bitcoin is a very secure banking option, which is why it has become so popular in recent years. Since most types of Bitcoin wallets would require someone to have both the login information for your wallet, they also require the actual physical device that your wallet is on. This second part makes hacking a Bitcoin wallet much more difficult, especially if the hacker does not live near you.
How fast are bitcoin transactions with casinos online?
Unlike some traditional banking methods you may have used at the best online casinos (like credit cards or e-wallets), both withdrawals and payments are instantaneous at casinos that accept Bitcoin.
How does Bitcoins differ from other banking options?
For those who want instant transactions, lower house edges, and who don’t want to give up their personal banking information, traditional banking methods can’t really compare to playing with bitcoin. The only downside to btc gambling is that values fluctuate: if the value of your bitcoins drops, you won’t be able to withdraw as much money. With e-wallets like PayPal, you have to tie your account to your bank. That’s not the case with bitcoin wallets, and that’s why they’re considered a much safer payment method (among other things).
Will there be fees for Bitcoin transactions?
Bitcoins can be purchased and sent peer-to-peer over the Internet without going through a bank or clearinghouse. The best online casinos have fees that are relatively low. The current market price for a Bitcoin is constantly changing due to supply and demand.
Is it legal to gamble with BTC?
Although it may not be legal in some jurisdictions, German players have nothing to worry about. Not only is it legal to play with Bitcoin, but there are many websites accredited by UKGC and other institutions.
What are the deposit and withdrawal limits for Bitcoin?
This depends on each individual casino. For bitcoin-only sites, there are usually no limits on deposits. For withdrawals, the minimum can be up to an equivalent of €1 in BTC.