If you feel like you are being bombarded by news about Bitcoin and other cryptocurrencies these days, you aren’t wrong. The whole world seems to be captivated by this new, decentralized “currency.” However, did you know that the online gambling world has been using these payment types for years already? In fact, online casinos and poker sites were some of the first outside of the Dark Web to accept Bitcoin as a potential payment option for players.
We are going to focus our attention on this page to Bitcoin Casinos – which ones accept the payment method, what you should be looking for when you are searching out a site to play, and why people are flocking to this digital currency.
Cryptocurrency is transforming the financial world and opening new doors for people looking to trade, save, and spend money. Leading the crypto industry is Bitcoin (BTC), the first and most powerful virtual currency on the market. Did you know there are now Bitcoin online casinos? Always looking to innovate, many online casinos now support BTC for deposits and withdrawals.
Moreover, some online casinos are emerging that are dedicated to Bitcoin. These aptly titled Bitcoin Casinos are in a niche market, but they are arguably showing the way to the future of online gambling. In this article, we will talk about online casinos that accept Bitcoin and dedicated online casinos that only accept BTC.
You can read about the differences between the two and find out why Bitcoin online casinos are useful, and even maybe why they may not be for everyone.
Let’s start with the dessert course, shall we? Some of you are impatient enough or have the information you need, and just want to get to finding a casino. Here are some of the best Bitcoin sites we have come across in our travels. As you can see from the list below, some of these casinos accept Bitcoin exclusively for real money play, while others also accept more traditional forms of payment. In both cases, these sites also offer great games and bonuses which should make your time spent with them very enjoyable.
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Now, why would someone go to all the trouble of opening a Bitcoin account and finding a site that accepts it in the first place? Well, there are many reasons, and we will review a couple of them here.
Without going into all the details, the fact that Bitcoin is a totally decentralized, encrypted currency means that there is no personal information that is being compromised by posting it online. This means a lot to people these days, especially when it feels like every day we are hearing about yet another data breach somewhere. For the casino world, using Bitcoin means that sites won’t have your financial data which makes your overall experience far safer.
If you have been watching the news lately, you will see that the Bitcoin market is incredibly exciting and slightly volatile these days. As more people understand the currency and trade in it, then it will start to stabilize and be much more like the traditional currency market. Those who have been in Bitcoin from the outset are making millions of dollars from the currency itself, so spending some of it gambling seems like playing with house money. OF course, we are not endorsing Bitcoin as an investment vehicle, but it is something to keep in mind when you decide to open a wallet and fund it.
Most gamblers are still not familiar with a Bitcoin online casino and that’s because it remains a small segment of the market. Not many casinos accept BTC as a payment method, but the number is growing. As mentioned, there are two distinctions for Bitcoin in the gambling realm: casinos that accept Bitcoin and casinos that are dedicated to it.
Online casinos that accept BTC: Customers can choose Bitcoin as a payment method alternative alongside more traditional methods like bank wire transfer, credit card, and PayPal.
Bitcoin casino: These online casinos will ONLY accept Bitcoin. Users deposit and withdraw in BTC with no other payment options available.
Needless to say, the market for dedicated BTC casinos that only function with the cryptocurrency is very small. In fact, even online casinos that accept bitcoin alongside other methods are relatively rare. However, more venues are expanding to allow cryptocurrency payments.Dedicated Bitcoin casinos are interesting because they combine the benefits of online casinos (access, many casino games, and usability) with the benefits of crypto (such as security).
Here are some of the advantages of using BTC at an online casino:
Because Bitcoin is decentralized, it comes with some privacy perks. For example, no banking or financial institutions can take a cut of your money through transaction fees.
If you already have BTC and use it, online casinos that support the currency are ideal.
Lack of middlemen means you have added security, such as not sharing personal information.>
Instant completion of transactions. Forget about holding times or waiting days for the money to clear, BTC transactions are instant.
No tax. Because of its decentralized nature, you won’t pay tax on Bitcoin deposits or withdrawals.
Casinos do not have specific policies towards BTC besides from either choosing to support the currency or not. Some online casinos have been more proactive than others and have already embraced Bitcoin. While these trailblazers remain relatively rare, the number of venues embracing cryptocurrency is growing.
Some online casinos are only now starting their journey with BTC, and these venues may not allow BTC deposits to work towards bonuses and promotions. For example, you won’t be able to redeem a no-deposit bonus by using BTC. It’s worth shopping around and finding casinos that allow BTC in their promotions. Dedicated Bitcoin online casinos will allow the currency to be used in bonuses such as no-deposit and welcome bonuses.
Bitcoin is decentralized and is inherently very secure… possibly the most secure payment method you can use at an online casino. You do not need to have or exchange bank details, private personal information, or other important data. BTC transactions are always encrypted and completed entirely in the digital realm.
When Bitcoin is moving from one place (your BTC wallet) to another (online casino), it passes through several security gateways. Each verification step adds an extra layer of protection to the transaction. The result? All BTC movements are almost untraceable. Furthermore, if you already use Bitcoin in day-to-day transactions, you don’t have to worry about annoying currency conversions.
“Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example, the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.” – Pieter Wuille, co-founder of Blockstream.
One of the best things about Bitcoin is it allows you to be completely anonymous. Your banking transactions are private and cannot be accessed by third parties.
Here are some of the core ways BTC protects your privacy:
So, with Bitcoin, your personal information will not fall into the wrong hands and won’t be shared… even with an online casino. It is worth remembering you will have to share some personal information with the casino when you first sign up to the service. However, this is not related to Bitcoin.
Because you don’t need to go through the process of signing up for a bank and linking to an online casino, Bitcoin is easy. Before you start using a Bitcoin online casino, you’ll need to get some BTC to deposit. Here’s how you do it:
Depositing at your chosen online casino is as easy as any other payment method. Of course, the following steps are dependent on your chosen casino supporting BTC.
Head to the “cashier” section of your online casino (once you have signed up).
Choose “Bitcoin” as your deposit method. Now the casino will provide a unique web address that will work with your account.
Open your Bitcoin wallet and paste that web address into the “Send” tab.
Enter the transaction amount.
Go back to the casino and start playing with your funds.
Making withdrawals is also a simple process… check out how to do it below:
“Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.” – Marc Andreesen, inventor of the first browser.
Perhaps the biggest reason why Bitcoin may not be the best payment method for you is because it is not widely available. Sure, the number of online casinos supporting the cryptocurrency is expanding all the time, but right now it remains a small niche. That means many online casinos you visit won’t support BTC.
It also doesn’t make much sense using a Bitcoin online casino if you don’t currently use BTC. For example, we wouldn’t advise starting your BTC trading and spending just to use it at an online casino.
While Bitcoin casinos are becoming more common, BTC is not supported as frequently as other payment methods. Most online casinos will allow you to make deposits and withdrawals via bank wire transfer, VISA (credit and debit cards), and e-wallet services like PayPal.
However, the online casino industry is opening its doors to cryptocurrency. Bitcoin is comfortably the most widely used digital currency, but there are other coins that casinos frequently accept, including:/p>
Like Bitcoin but with a low value per coin.
Litecoin has often positioned itself as the main alternative to Bitcoin and was launched in 2011, making it one of the oldest cryptos.
Next only to Bitcoin in terms of popularity, Ethereum is being adopted more by online casinos in recent years.
Monero has been moving through a period of evolution and improving recently. It now promises the best security of any cryptocurrency.
Those main Bitcoin competitors are becoming more common at online casinos but are still relatively rare. There are other currencies which are emerging, such as Dash, Dogecoin, Stratis, Peercoin, and NeoGas. Over the next five years to a decade, it’s likely the online casino realm will embrace these alternatives more and more.
There are always plenty of alternatives check our table below:
Today, there are dozens, if not hundreds, of casino sites that offer Bitcoin as a payment solution. So why would you choose one over another? Well, in many instances it can simply come down to where you live, as some sites are not available to residents of particular countries. However, to choose between sites that you can access, we offer these attributes that our review team look for as they research a site.
Some Bitcoin-only sites offer their own casino software as well, which can make for a very different player experience than a site that uses a more common vendor for its games. The most important factor to us when we look at casino software is that a site is offering the most games with the highest quality. This way, you shouldn’t get bored and want to leave the site. The casino offering can come from multiple software vendors if it is being distributed in a no-download format, so we also look for casinos that have multiple partners.
This is likely going to be your first time using a cryptocurrency so you may run into some issues you have never dealt with before. Having a 24-hour support department is a must in our books, especially when it comes to players having questions about finances. The best support departments will be trained by using Bitcoin or will be able to access someone with that information quickly, so you are not waiting too long for a solution. There is a bonus we give if a site offers a toll-free telephone number for you to reach a live body.
While many sites allow you to deposit using Bitcoin, most of them also require you to convert the money to USD when you are playing the games. This can sometimes be accompanied by a horrible exchange rate which can cost you in addition to the money you may lose gambling. You should look for sites that offer gameplay in mBit so you can keep track of all the transactions and not incur any unnecessary costs that could affect your bottom line.
Bitcoin remains relatively nascent in the online casino world, but it points to a bold new era. Patrons can use BTC to have instant transactions that provide robust security and market-leading privacy. Some online casinos have emerged that are dedicated to BTC. These so-called Bitcoin casinos are not common, but they show how popular the cryptocurrency is becoming.
While the cryptocurrency market is still very much in its infancy, it appears to be more than a passing fad. Where these decentralized currencies end up is anyone’s guess at this stage, but Bitcoin is far away the leader from an adoption standpoint. This is, in large part, due to the early adoption as a payment method for online casino sites. Today, you can find many sites that not only offer the currency for transactions but also a chance to play the games without converting to USD or Euro.