Bitcoin Casinos

As technology advances, it was only a matter of time till our ways of paying did too, however, few people could have guessed the impact that the cryptocurrency Bitcoin would have. Now, depositing and withdrawing funds with Bitcoin Casinos is easier than ever before. Read about this and much more below.

What is Bitcoin?

bitcoin casinosEven though the first Bitcoin network was launched in 2009, it took another two years for it to hit the mainstream market. Bitcoin is the world's very first decentralized currency which means that unlike traditional currencies, it has no central bank and allows people to send money to each other via the internet without being linked to any real identity. While at first this form of currency was very much misunderstood, the anonymity it guaranteed its users gained it a lot of fans and its reputation has gone from strength to strength. By 2014, hundreds of business offered Bitcoin as a payment option and thanks to a surge in Bitcoin Casinos, every player can now play at a number of those casinos.

Why play at Bitcoin Casinos?

  • Bitcoin Casinos players are able to remain completely anonymous;
  • Deposits are easy to make and extremely quick;
  • Practically no withdrawal times;
  • Bitcoin Casinos offer particularly good welcome bonuses.

How to make a Bitcoin Casinos Deposit

  • Create a Bitcoin wallet: A Bitcoin wallet is set up through Bitcoin's site. Although there are two choices of wallet (web wallets and desktop wallets), we suggest that you opt for the former rather than the latter as desktop wallets will need you to download software. Once you have opened a wallet, the next step is to sign up by providing your address and setting up a password.
  • Fill your Bitcoin wallet: After setting up your wallet, it's time to get those Bitcoins in it. There are various ways of doing this: you can either buy bitcoins through your own wallet, use an exchange service like BTC China or Bitstamp which allow you to exchange your own currency with Bitcoin OR over the counter or ATM (the latter are very country specific).
  • Sign-up at a Bitcoin Casino: Once you've chosen which of the Bitcoin Casinos you want to play at, you need to set up an account. As soon as you do this, go to the casino's payment options page and choose Bitcoin as your currency.
  • Deposit your bankroll: While other payment options require you to enter your card details, with Bitcoin you won't have to, instead, funds in your Bitcoin account will be transferred directly to the casino through both parties' Bitcoin addresses. These addresses are characterized by a series of letters and numbers which usually range from 27-38 characters.

How to make a Bitcoin Casinos Withdrawal

  • Log into your Bitcoin casino account: When it comes to withdrawing your funds after you've won, you will be able to do so with the greatest ease. The first thing you need to do is go to the payment options page of the online casino you've won at.
  • Input your Bitcoin wallet address: Now that you're on the payment options page it's time to fill in your Bitcoin address. Once you do this, your funds will be transferred from the Bitcoin casino to your Bitcoin account.
  • Wait for your transfer to be complete: At this point, all you need to do is wait for your money to be transferred from your Bitcoin Casino account to your Bitcoin wallet.

Safety and Security at Bitcoin Online Casinos

Although Bitcoin Casinos are the new kids on the block, it doesn't mean that safety and security have been compromised, in fact, all casino experts maintain that Bitcoin is one of the safest payment methods you will ever use. Not only can one send money from one Bitcoin address to the other without there being a need for a third party but all Bitcoins are kept in an offline system which has no internet connection. Thus, this stops the possibility of any kind of data theft.

Transfer Times for Bitcoin Casinos

bitcoin transfer timesWhen it comes to transferring money, you will be able to see your transfer almost immediately, however, it does take another 1 to 3 hours for it be completely confirmed. On the other hand, if you do manage to win big whilst playing at one of the Bitcoin Casinos and want to withdraw, it will take you about 24 hours to get your money which is still a lot less time than if you were playing via Visa or e-wallet.

Advantages of using Bitcoin Casinos

  • There are no third parties involved in the transaction - Bitcoin does not use any third parties when transferring funds from one account to another which means that players won't have to pay a third party fee.
  • There are no fees to use Bitcoin - Bitcoin transfers cost next to nothing. Transferring Bitcoins is normally free and in fact, it might be the online casino which charges a small amount. Always make sure to read those pesky terms and conditions.
  • Bitcoin offers anonymity - At most, all players will be asked for is their email address (and even this is only asked for so that the casino will be able to recover your password should you lose it). With Bitcoin, your anonymity is guaranteed.

Disadvantages of using Bitcoin Casinos

  • Bitcoin's value is not fixed - As you may have heard, Bitcoin does not have a fixed value. This means that while some days its value shoots up, on others it can spiral down at an alarming rate.
  • Bitcoin payments are permanent - Once you've transferred money via Bitcoin there is literally no way to cancel your payment. Bitcoins can only be refunded by the online casinos you have paid themselves. This is another important reason why you should always seek reputable Bitcoin Casinos.
  • You make have to pay tax on your winnings - Although governments do not consider Bitcoin to be an official currency, you may be required to pay tax anyway because Bitcoin still has a financial value.

Bitcoin Casinos FAQs

Is Bitcoin Gambling legal?

Thanks to its newness, Bitcoin is still a bit of a grey area when it comes to whether or not you can gamble with it. The reality is that many places do not have specific laws when it comes to cryptocurrency. Our opinion on the matter is simple, if you own Bitcoin and want to play at Bitcoin Casinos, there's literally nothing to tell you not to.

Which gambling jurisdictions have given out licenses for casinos to accept Bitcoin?

Both Curacao and the United Kingdom have issued licences for casinos to accept Bitcoin as a currency. This basically means that they have accepted the responsibility to regulate the operation of cryptocurrency websites. Thus, you will definitely find Bitcoin offered as one of the online casino payment options at both Curacao online casinos as well as at Online Casinos UK.

Are there US friendly Bitcoin Casinos? 

Bitcoin Casinos are probably the best bet for USA players because of the anonymity they offer players. In fact, players will find that many Online Casinos USA offer Bitcoin Casinos.

Are there Mobile Bitcoin Casinos I can play at?

Bitcoin Casinos games come in all shapes and sizes and they have their own mobile versions of the desktop versions which players have come to know and love. Whether you want to take a spin on the Roulette Wheel or play Online Slots, Bitcoin Casinos have it all.

 

Join the revolution and play at the Best Bitcoin Casinos

There can be little doubt in anyone's mind about the impact that Bitcoin has had on the casino industry. Not only can players now deposit and withdraw their funds with the greatest ease, but they can also do so completely anonymously. Gone are the days when you have to give your name and address to an unseen third party, now, you can just click a button and wait while your money gets transferred. Bitcoin Casinos also offer some of the best online casino bonuses on the net. So what are you waiting for? Pull up a chair and start your Bitcoin Casinos journey.