As the online casino industry looks to keep pace with the fast growing world around it, one of the many things they are implementing is the ability to use Bitcoin as both a deposit and a withdrawal method. This can offer a lot of benefits to the player, and it’s something that many casinos are looking to exploit.
Top Online Casinos Accepting Bitcoin
In this article we’ll look at those casinos and at this currency. We’ll tell you all that you need to know to get more out of Bitcoin, to use it to play your favorite real money casino games, and to pickup some big bonuses at the same time.
What is Bitcoin?
It is a crypto currency, which is becoming somewhat of a buzzword lately. This basically means that it is a virtual currency, and one that can be used to send and receive payments anonymously. There is no central bank producing the currency, and it is not tied to any single nation. Bitcoins are “mined” into existence by computers running complex equations.
You need a very powerful bank of computers to mine this currency, which is why they tend to be produced by a small number of specialized miners.
Once in existence, a Bitcoin passes from one wallet to another, much like a PayPal account. The difference is that these wallets are not entirely virtual. They exist only on your hard drive, but if you lose that hard drive then you lose your wallet. This is one of the few downsides to this currency.
All wallets have a unique code, which is used to send money. This code is like a bank account number, but it can only be used to add money to a wallet and not to withdraw anything from it. What’s more, your code does not display any info about you or the contents of your wallet, and you will also not be able to see such details from someone who sends you money.
This makes it completely anonymous, which is the main attraction to Bitcoin.
The Best Bitcoin Casinos
The majority of big name casinos do not accept this payment method, and in most cases you will find that Bitcoin compatible casinos only accept Bitcoin and don’t deal in any other payment method. This is because it takes a lot for a casino to accept this option and it’s not as easy as it is to accept other payment options.
It’s also not easy to choose a good casino from the list of ones that do accept Bitcoin. That’s where we come in. We have reviewed many of the biggest, the smallest, the best and the worst casinos out there, and we have compiled a list of the very best.
Bitcoin Casino Bonuses
Just because you use a payment method that is not common doesn’t mean you can’t pickup some big bonuses. In fact, as Bitcoin casinos are still relatively niche, they are doing all they can to attract new players, and in many cases this means that you can pickup much bigger bonuses than the ones that are available elsewhere.
There are many different bonuses out there, including free spins, loyalty schemes and matched deposits. To learn what all of these mean, and to discover which one works best for you, we have compiled an extensive guide on casino bonuses here.
Why Use Bitcoin Casinos?
There are many reasons to use this payment option. Firstly, Bitcoin could be the currency of the future, which means that starting your collection now, could make you a lot of money in later years. Gambling with this currency is also a good way to get more of it, assuming you’re good enough to score some consistent wins.
The main reason people enjoy using Bitcoins is that they are completely secure and anonymous. There is no need to connect your wallet to a credit card, debit card or other payment method, and the same applies to your online casino account.
The only thing you need is your Bitcoin wallet, which in itself is also one of the most private and anonymous ways you can store, send and receive money.
5 Tips for Using Bitcoin
Keep an Eye on the Value
Bitcoin goes up and down, perhaps more so than any other currency. When you spend your Bitcoins at an online casino, you are effectively exchanging them for casino credits, which in turn will be swapped for cash. So, do as you would do when exchanging any other currency and wait for when it’s high before selling.
Keep Your Wallet Secure
With so much money going into and out of your wallet, you will need to make sure that it is secure. In the case of a hack, a theft, or a corrupt drive, you want to ensure that you will still have your money.
The casinos that allow this payment option tend to offer big bonuses, so you’re missing out if you don’t pickup a sizable bonus. Be sure to shop around, to take what you can get. This article and many of the ones we have linked to here will help you to ensure that you get a good bonus.
Use Other Methods
If the value of this crypto currency is particularly low when you want to make a withdrawal, then you can either keep the money in your account, or you can withdraw via another method. However, many casinos that accept Bitcoin do not accept other methods, so this is something you will need to lookout for prior to joining the casino.
Know Its Worth
One of the issues with this currency is that it’s hard to connect it to real money. When you’re using a debit card you know that every penny you lose is a penny less in your bank account. But with Bitcoin, after you convert it to credits and then use these in the casino, that connection is lost.
In such cases, it’s easy to get carried away and to gamble more than you usually would. That’s why it is important to always know exactly how much those credits are worth and to connect them to a dollar value (or whatever currency you use).
The Best Bitcoin Casinos Compatible Games
Poker and Blackjack
Poker and Blackjack are played by professional players, and if you know your stuff and you’re willing to go the distance, to stick it out and learn, then you can make a lot of money from them. What’s more, with Bitcoin you can play quickly, without interruption, without the need for ID checks and other issues that often arise with online casinos and gambling sites in general.
Games of Chance
Big bonuses are always great for games of chance like roulette for real money ,This is because you’re often given a lot of free cash, and rather than blowing through this steadily, you are afforded the chance to stick it all on a single bet.
And with Bitcoin casinos, the bonuses are often much bigger, which means that if you do win with that solitary bet, then you will be in for a very big payday.
How to Deposit and Withdraw Using Bitcoin Casinos
If you have never used this currency before then it might be tricky to begin with, because getting Bitcoins is not as quick and as easy as using them. Firstly you need to signup and then download a wallet, at which point you will get you unique wallet ID.
From here you can then purchase some Bitcoins from an exchange, paying the going rate at that time (unless you have the knowledge and the computing power, it won’t be possible to mine these coins yourself).
It gets easy from that point on, as you simply need to select the “Bitcoin” payment option and then send money to the wallet ID that is displayed. Once the connection has been made and the casino knows that you have sent the money, then that money will be credited to your account.
Obviously, you can not use Bitcoins like you would dollars, because 1 Bitcoin amounts to hundreds of dollars and you wouldn’t want to blow this on a single spin of a slot machine. To get around this, Bitcoin casinos will convert your deposit into casino credits, which you can use in any amount that you choose.
FAQs About Bitcoin Casinos
Can I Use Bitcoin in the US?
It is available everywhere, so there should be no issues in that regard. In fact, one of the many lures of Bitcoin is that it is a global currency, one that everyone can use, and one that is not tied to any particular currency or country.
However, you might have an issue finding a casino that allows US-based players and also offers this particular payment option. They do exist, but they are not as common as they are in other countries.
Do Bitcoin Charge Any Fees?
There are no fees associated with Bitcoin as such, but if you use an exchange to purchase some of this currency (which is the only option available to many users) then you might be charged a small fee for each transaction. These fees should not apply when making a deposit or a withdrawal with an online casino though.
Is Bitcoin Better Than Other Methods?
It is all down to preference, and whether you find Bitcoin to be better than other payment methods is down to you. For some, the anonymity and the security, as well as the ease of use, will be just what they are looking for.
However, in most cases the only people who will prefer this method are the ones who are already involved with the currency and are sitting on a stockpile of it. If you are not, then the process of getting those coins may not be worth it.
What Are the Upsides to Using Bitcoin?
This can be a great way to invest, a great way to use a small stockpile of coins to build more and to hold onto these as Bitcoin continues to grow and to become something extraordinary.
If you already have a Bitcoin wallet setup and you know how to use it, then this can be one of the quickest payment methods there is. It’s very easy to send money and to receive money, and most of the payments you make will be instant, speed that you just don’t get with any other payment methods.
If you’re worried about the taxman, the bank, loan companies or your spouse paying too much attention to your gambling, then this is a great way to gamble in secret. And in general, Bitcoins are one of the most secure ways to send and receive money, and one of the only ways that is completely anonymous.
What Are the Downsides to Using Bitcoin?
Slow for Non Users
If you do not own any of this currency to begin with, then the process of purchasing some and then using it, can be slow.
Bitcoin itself is not very complicated and it is easy to use, but if you don’t know much about economics and don’t pay attention to the global economy, then staying up to date with this currency and its worth can be confusing.
Easy to Use
Getting a stockpile of Bitcoins might be a good way to invest for the future, but it’s like sitting on a stockpile of cash, in that they are very easy to lose, and once they are gone, they’re gone.
Are Bitcoin Casinos Safe?
They are very safe. All online casinos, regardless of the payment options they accept, should be safe, because they all abide by strict regulations and rules. You can check the safety of these sites for yourself by looking for security certificates, as well as information on auditors and regulators, all of which should be available.
There is no telling what will happen to Bitcoin in the future as its value has been very unsteady and unpredictable. However, this is definitely one of the currencies of the future, and right now, thanks to Bitcoin casinos, it’s also a great way to get your online gambling fix.