Bitcoin is becoming more and more popular these days as a payment method at online casinos. The reason for this is simple: it is safe and secure, it is anonymous and it is fast to use. This is why online casinos encourage the use of Bitcoin and other cryptocurrencies such as Dogecoin, Litecoin, Ethereum, and Tether and some casinos provide special bonuses to promote their use.
In fact, there is a rise in Bitcoin-dedicated casinos recently and one of the top dedicated Bitcoin online casinos is Bitstarz Casino. At this casino, you can deposit, make withdrawals and receive bonuses using both Bitcoin and US Dollars.
In this article, we recommend the best Bitcoin casinos for users to play at and show you the advantages of playing at Bitcoin casinos.
How to Make a Deposit with Bitcoin?
One of the most common fears, especially among newbies, is that Bitcoin is a highly sophisticated and advanced technology that requires some learning. There is nothing further from the truth. You can simply follow the easy steps below, and you will be able to arrange a deposit at any Bitcoin Casino.
- Open a Bitcoin wallet of your choice*
- Add a payment method to your Bitcoin wallet.
- Log into your bitcoin casino account and click on Deposit funds.
- Select Bitcoin as your deposit method.
- Enter the amount you'd like to play with and click Deposit.
- Copy the Recipient Address (or scan the QR code).
- Send funds to the Recipient Address from your Bitcoin wallet.
- Enjoy the games!
*You should know that when it comes to Bitcoin gambling, some countries don't offer the full range of wallets available on the market. For players, in particular, we recommend using either Coinbase or CoinJar, as either one of these will allow you to register and deposit your bitcoins in online pokies establishments.
How to Make a Withdrawal with Bitcoin?
We've seen how to top up your account. However, just like with the standard-currency operators, online bitcoin casino user-based users are far more interested in how to cash out their winnings. Therefore, we're covering the procedure here:
- Go to the Withdraw menu in your Casino account.
- Enter your Bitcoin wallet and the amount you wish to withdraw.
- Click the Withdraw button.
- The amount will be sent to your Bitcoin wallet.
As for the average time frame, this mainly depends on the speed of the blockchain, but everything should be gnarly in a couple of hours tops.
Bitcoin Pokie Games
Most game providers out there have made their games compatible with Bitcoin. Top industry leaders such as NetEnt, Big Time Gaming, Microgaming, Playtech, and Play'n GO offer high-quality video and table slots that can be played with Bitcoin. Full disclosure though, not all of them are fully optimized for crypto, meaning that in some cases, the games will only translate the same bet sizes and levels from the fiat currency to the crypto one. What does this mean? If the minimum bet of the game is $0.4, in a Bitcoin online casino, this will translate to 0.4 mBTC, meaning $23.5. It's still something though, and we bet most of you out there have fantasized about going big at some point during your sessions. So, if you're not already a high roller, you can experience playing like one on Bitcoin pokies!
To sum things up, there's a long list of online real money pokies that can be enjoyed when playing with Bitcoin. Since this crypto is seen as the future of the online casino industry, most software providers are developing pokies and table games to work with Bitcoin and other cryptos as well.
Play with Bitcoin Bonuses
If there is something that players love more than trying their luck with these man-made machines of fortune, those have to be the bonuses that operators provide to attract and maintain players. The best Bitcoin Casinos out there are well aware of this and make no exception when it comes to supplying generous and lucrative promotional offers to their customers.
Many of the top Bitcoin casinos offer specific Bitcoin bonuses to entice players to deposit using Bitcoin. These often come in the form of a match deposit for your first deposits using Bitcoin. These offers function on the same principles as standard currency bonuses do, which means that they will have a minimum deposit requirement, a maximum limit up to which they can be claimed, a validity period, and a specific amount of time to complete the rollover if any.
There are absolutely no restrictions to claiming bonuses with Bitcoin up to this point, so players just have to use the corresponding codes as they would with a normal offer, complete their Bitcoin deposit, and that's pretty much it – the offer will get added automatically right afterward, in just about any Bitcoin Casino out there.
Advantages of Using Bitcoin at Online Casinos
If you’re wondering, there is a slight difference between regular gambling and bitcoin gambling. The main difference lies in their payment methods and the rate at which you can withdraw your winnings which is often much faster when using Bitcoin than using fiat currencies. But aside from that, what are the other advantages of playing in a bitcoin casino?
You are Completely Anonymous
One of the most favoured advantages of bitcoin gambling is the fact that you remain anonymous while playing. Since real money casinos are sometimes subjected to cyber threats that compromise players' personal information, Bitcoin players are completely guaranteed the safety of their identity. Also, there are no account registrations when playing Bitcoin games since you only need your Bitcoin wallets to play.
The System is Secure
Another great advantage of bitcoin gambling is the fact that the system is secure and transparent. You can’t find any incriminating paperwork trail or access any personal data. This of course only means that the data of each player, including yours, are kept secure and confidential.
For a beginner, you can expect a lot more benefits such as free transactions when depositing or withdrawing cash. However, you can expect a nominal processing fee, although it’s very tiny to even fret about. Also, every transaction is processed at a very fast rate, thus allowing you to acquire your cash as soon as possible.
You Can Expect them to be Fair
When you play bitcoin gambling, you can be sure that the games you’re playing are fair. But how is this possible? Through cryptographic hash technology, you are able to check if the casino you choose can manipulate the outcome of your bet or not. Bitcoin-powered casinos are installed with provably fair software, meaning the results are completely legit. Trusted online real money casinos that offer Bitcoin games have their own tools which you can use to check if the outcome of the game you’re playing is purely RNG and not manipulated by the administrator or the players.
Bitcoins Offer High Odds and Payouts
Unlike casino games which have low payout percentages depending on the game you play, bitcoin casinos have the best odds and payout percentages, thus making them quite attractive to a lot of players. But how are they able to offer better odds? Typically, an online casino will have to handle payment processing costs each time a player makes a deposit through any online payment method. In order to compensate for such costs, they end up reducing the odds or bonuses they offer to their players. However, with bitcoins, transactions are entirely free. This means that there are no payment processing costs, which in return translates to better payouts and higher odds along with other amazing bonuses.
There’s a Huge Variety of Games
Playing at a bitcoin casino allows you to access a plethora of casino games that you can normally find at any top online casino, plus a selection of exclusive bitcoin games. Among the most popular bitcoin games are online slots that normally have high payouts reaching up to 99%. Other crowd favourites are blackjack and online roulette which are offered in various versions by a lot of bitcoin casinos. If you check out the player return percentages of these games, you’re more likely to find that they’re a lot better than their land-based counterparts.
Like any other online casino, bitcoin casinos are also entering the field of live dealer casino games. This provides you with an even wider variety of games. Not to mention, it also adds up to your overall player experience.
Disadvantages of using Bitcoin at Online Casinos
Now, even if Bitcoin has a huge list of advantages and solves lots of issues that traditional gambling poses, it doesn't mean we can't think of some downsides as well. However, when you put the two lists head to head, it's obvious that the disadvantages are less important.
Higher stakes depending on currency fluctuation
When you use Bitcoin to make large deposits or play with big bets, you could be facing some secondary losses when it comes to cryptocurrency price fluctuation. Ultimately, you're going to exchange Bitcoin for fiat currency since there aren't so many places accepting BTC payments. So, if between the moment you make the deposit and the one you request a withdrawal, there's a consistent price drop, you may end up with a lower amount in the end.
Not all games are optimized for Bitcoin
It's true, the list of games that can't be played with Bitcoin or other cryptocurrencies is quite short. A small number of software providers chose not to make their titles available for Bitcoin play. However, it's a downside worth mentioning.
Not all online casinos accept Bitcoin
Even though Bitcoin is gaining a lot of momentum in the iGaming industry, the ratio of standard-currency casinos compared to cryptocurrency venues is still overwhelming. Therefore, there's still a chance you will find an operator that has everything you ever wanted from a casino but doesn't accept Bitcoin.
Transactions may suffer slight delays ( especially through crypto exchanges)
If you don't physically own the Bitcoin in a crypto wallet but choose the services of a crypto exchange to deposit, you could see some delays in processing. This comes from the time it takes for the casino to communicate with the crypto exchange website and complete the transfer. Also, even though the blockchain is one of the most reliable transaction systems around, even it can suffer some inconsistencies that could cause delays.
Losing Your Key Means You Can't Deposit BTC
We've seen how using a crypto exchange could generate delays in depositing with Bitcoin. But owning the cryptocurrency can come with complications as well. It's true, this is more a case of "human error" rather than anything. We're talking about the unpleasant situation when you lose the key to the address where the Bitcoin is stored. If you lose the physical crypto wallet, forget the key from an online one, or print a paper wallet, you basically don't own Bitcoin anymore.
Alternatives to Bitcoin for Players
With so many advantages, it's no wonder that Bitcoin's popularity is constantly increasing. There are more and more Bitcoin Casinos, from one quarter to another, but there are also those that prefer to remain outside the range of the cryptocurrency trend. We reckon there are also plenty of players out there that are not yet ready to embrace the new wave of crypto technology and prefer sticking to old fashion classic gaming. Oldies but goldies, as they say, and each to its own! But are there any decent alternatives remaining for these players, that could stand up to the significant advantages of Bitcoin gambling? We believe so!
Enter Neosurf, one of the oldest and most appreciated prepaid card systems in the world. Cash vouchers have never been easier, and nowadays, you can purchase them from just about any supermarket, convenience store, newsstand, gas station, Internet café, Tabac shop, kiosk, and the list could go on and on. Neosurf is available in thousands of convenient locations from all over the world, it's extremely easy to use, and much like Bitcoin, it's completely anonymous. Care to put this to a test? Simply access their website, select your country, enter your residential address, and start searching for the nearest access point using the location finder.
What is Bitcoin?
Bitcoin is the world's first major digital currency and is presumed to have been created in 2009 by Satoshi Nakamoto. The name of the "creator" of Bitcoin is more of a pseudonym than an actual person who created this currency that revolutionized the way the global financial industry works. In layman's terms, Bitcoin is a virtual currency, but it is not a dollar or a euro. It cannot be held in your hand and is not recognized as a currency of exchange by most stores, although there are traders from all over the world who already accept payments in Bitcoin.
The Bitcoin transfer process is very similar to a bank transfer. When you want to send a sum of money via bank transfer, fill in the recipient's data and your account data. The bank takes the amount of money from you from the account and sends it to the recipient. Then, the users need to trust the bank to take the money from their account and send it to the recipient. The Bitcoin blockchain is a database (or a registry, if you want) that will perform the same money-tracking functions without a bank or any other central authority.
Bitcoin transactions are made by consensus of the users of the decentralized network. These transactions can be made through companies (exchanges) that offer electronic wallets that upload data to the web, including the newly surfaced Bitcoin Casinos. All new transactions are sent to the network for verification, an operation performed by miners.
History of Bitcoin
Bit + Coin practically means a coin made of bits. In August 2008, an interesting paper called "Bitcoin, a peer-to-peer system with money" was sent to several users interested in cryptography. The article was written by Satoshi Nakamoto, the same programmer (or group of programmers) who registered bitcoin.org that same year. Up to this very day, however, Nakamoto's identity remains unknown and shrouded in mystery. The first network was born in January 2009, and Nakamoto mined the first block, called the "genetic block", and received a reward of 50 Bitcoins for it. Imagine for a second what that would mean today!
After this, one of the first contributors and supporters of cryptocurrency was also the first person to trade Bitcoin. We're talking about programmer Hal Finney, who reportedly mined over one million Bitcoins after the launch of Nakamoto's new system. Today's value is about 16.5 billion dollars! In 2010, he gave his alert key and control source code to programmer Gavin Anderson, who later became the main developer of the Bitcoin network. At first, the value of Bitcoin was negotiated by users, and the first transaction took place in 2010 when a user bought two pizzas with 10,000 Bitcoins.
Since then, the currency has gone through many cycles of appreciation and depreciation. In 2011, the value rose rapidly from $0.41 to $38.75 and returned just as rapidly to $2.58. And the rest is history! Or, at least, it's fair to assume that most of us have somewhat of an idea about the currencies' incredible trajectory, up to this very day when 1 Bitcoin equals no less than $59,201.16!
Bitcoin Casinos Around The World
When it comes to Bitcoin gambling, casinos are booming. Given its extremely high volatility and level of anonymity, it's no wonder that this is the status. The Bitcoin community here is thriving, especially since 2013, when the RBA Governor made the currency legal. Ever since that time, many Governments started treating Bitcoin "just like real money", exempting it from double taxation. Naturally, the coin's popularity started growing more with each year, quickly gaining over a large number of businesses and industries. Online gambling made no exception, and in a relatively short amount of time, even bogans knew how to arrange deposits and withdrawals with Bitcoin. The best Bitcoin Casinos of the moment have thousands of users playing on a daily basis, with more and more users realizing the benefits of gambling at cryptocurrency casinos and jumping on the trend.
Final Thoughts on Bitcoin Gambling
There's no doubt that new Bitcoin casinos will continue to emerge in the land. Players are known to be very receptive to new trends and since the popularity of real money pokies won't go anywhere, the future is a bright one. If you didn't know a thing about Bitcoin and its uses for gambling, you now have all the needed information to give it a shot. If you want more privacy, faster withdrawals, no fees, and the possibility to make even more profit, Bitcoin is your go-to currency for playing pokies and table games. All that's left to do is take a good look at our list of top Bitcoin casinos and pick the one that seems like the best for your taste. Create an account and start enjoying your favourite pokies to have a blast!
