In the digital era, using convenient payment methods is of utmost importance.
With e-commerce growing rapidly, people are used to making simple and fast payments, and in the last couple of years, Bitcoin has become one of the most popular payment options.
Thanks to its speed, safety, and versatility, Bitcoin can be used for various transactions — from payments and shopping to online betting and gambling.
I recently noticed a rise in the number of Bitcoin online casinos, and I can’t say I’m surprised — cryptocurrency plays a vital role in the further development of online casinos.
However, there are still people who see Bitcoin as abstract and unreliable. While I understand the fear of the unknown, I want to show you all why playing in Bitcoin online casinos is worth a shot.
To that end, I’ll talk about all the advantages of Bitcoin casinos. Stay tuned!
What Are Bitcoin Casinos?
A Bitcoin casino looks just like any other online casino — the only difference is that it supports Bitcoin (BTC) as a payment method. While you may come across online gambling sites that only accept crypto payments, you’ll also find Bitcoin in many online casinos that also accept fiat currency payments (USD, GBP, EUR).
You might even notice that your favorite casino platform introduced Bitcoin as one of its primary payment systems.
Bitcoin casinos offer a range of games, from:
- Slots
- Table Games
- Video Poker
- Live Dealer
If you’re worried about navigating a Bitcoin casino, I’ll make it easy for you — apart from the payment process, Bitcoin casinos function just like their traditional counterparts.
Advantages of Using Bitcoin in Online Casinos
To help you decide whether to try playing in Bitcoin casinos, I assembled a list of the benefits that come with using BTC in online gambling. So, let’s get started!
Safety and Bank-Level Security
- Bitcoin gained recognition as one of the safest payment options available today.
This cryptocurrency uses top-notch encryption protocols that make your transactions perfectly safe.
Additionally, you can’t reverse a payment — once you send the bitcoin, the transaction is done, making it impossible for anyone to track it.
Zero or Minimal Fees
Traditional online casinos are known for their excessive fees, usually associated with deposits and withdrawals.
If you want to cash out the winnings, you need to pay taxes and other duties, which can significantly decrease the actual amount of money you end up with.
On the other hand, Bitcoin casinos can absolve most of these costs.
- Bitcoin transactions bear minimal or no fees.
BTC doesn’t use a third party to transfer the funds, making all the payments even cheaper.
Fast Transactions
Bitcoin casinos are also known for their almost instantaneous transactions.
- No matter where you are, you can always access your Bitcoin wallet and make direct transactions, even international ones.
With fiat currencies, you usually need to wait hours or days for the payment to go through because of the intermediaries involved in the transaction process. Luckily, that’s not the case with Bitcoin — as soon as the online casino approves the withdrawal request, the funds are on the way to your BTC wallet.
Increased Anonymity
If you’ve played in online casinos before, you know that you need to share your personal and financial details with the platform to withdraw the funds. Unfortunately, leaving your data online can be a risky endeavor.
That’s what’s great about Bitcoin — you won’t need to provide any personal information, which increases your privacy and anonymity.
- To deposit Bitcoin, all you need to do is send the funds to a specific address, and you’re good to go.
The important thing is that you don’t need to go through the grueling process of filling out forms and sending a copy of your ID to the online casino — you can quickly start playing cryptocurrency casino games while remaining anonymous.
No Middleman
What makes Bitcoin transactions so fast and secure is that there are no intermediaries.
All payments are made on a peer-to-peer basis, meaning no third parties are involved in the transaction process. Consequently, your Bitcoin transactions are faster and safer.
Specialized Bitcoin Bonuses
Another significant benefit of playing in Bitcoin casinos is that they offer a number of specialized promotions and bonuses.
- Typically, a casino will offer a matched deposit bonus of 1 BTC to 5 BTC.
This might not seem like much if you’re not familiar with the value of Bitcoin.
However, one bitcoin currently amounts to tens of thousands of US dollars, significantly more than any bonus a traditional online casino would offer to its players.
Of course, the exact amount will depend on the market, so make sure you’re up to date with the latest news.
Bitcoin Deposits and Withdrawals
Now that I’ve gone through the crucial benefits of playing in Bitcoin online casinos, it’s time to learn how to make BTC deposits and withdrawals.
If you’re at all familiar with the usual payment processes in casinos, you’ll have no trouble understanding this, too.
How to Make a Deposit Using Bitcoin
Before you’re able to deposit funds to an online casino via Bitcoin, you’ll need a Bitcoin wallet where you’ll store the funds. Here’s what you need to do:
- Find a Bitcoin wallet you like the most — they are usually free of charge.
- You won’t need to register to get a wallet.
- Instead, you’ll receive a public and a private key.
- You use the public one to receive BTC and the private one to log in. That’s it.
If you already have Bitcoin, you’ll transfer it there, but if not, you’ll need to get it. There are many ways to get Bitcoin — you can ask a friend to send it to you or use a crypto exchange to buy it with fiat currency.
Once have some bitcoin in your wallet, you’re ready to make a deposit, and here’s how:
- Create an account in an online casino you like.
- Go to the Cashier and pick Bitcoin from the selection of payment methods.
- Now, the casino will give you an address — copy it.
- Open your Bitcoin wallet and paste the address along with the amount you want to transfer.
- As soon as you hit Send, the casino will process the payment and fund your account.
- Now, you’re ready to claim the bonus and explore everything the casino has to offer!
How to Withdraw Winnings in Bitcoin
While depositing via Bitcoin might seem complicated to beginners, it just takes some getting used to. On the other hand, Bitcoin withdrawals are much easier to complete.
Below is a step-by-step guide you can follow:
- First, go to the Cashier and pick Bitcoin from the available banking options.
- Enter the amount you’d like to send to your wallet.
- The casino will then request a wallet address — insert it in the designated field.
- Confirm the transaction.
- That’s it! Your winnings should appear soon in your Bitcoin wallet.
A little reminder — if you were using a bonus, just make sure you’ve met all the wagering requirements and additional terms. You don’t want the winnings to go to waste.
Final Thoughts
There’s no denying that Bitcoin has become a force to be reckoned with. Bitcoin casinos are slowly taking over the gambling industry, whether we like it or not.
Hopefully, this article helped you understand why Bitcoin might be a good investment, especially when it comes to online gambling.
While I understand why many people are reluctant to give cryptocurrencies a try, I still believe Bitcoin and crypto casinos can offer you an unmatched gambling experience in terms of security and wagering options.
Now, it’s up to you to decide — will you sign up in a Bitcoin casino or not?
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