Casinos with Bitcoin
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Using Bitcoin With Online Casinos
Bitcoin is the world’s leading cryptocurrency. In a few words, a cryptocurrency is a digital asset serving as a medium of exchange. This is essentially what bitcoin is all about.
The particularity of Bitcoin is that it is a peer-to-peer monetary system; individuals can transfer money without the need of a third party such as a bank.
The bitcoin story started when the “bitcoin.org” domain was registered in 2008. The first bitcoin network was created in January 2009, by an enigmatic individual called Satoshi Nakamoto. In less than 10 years, bitcoin has developed to become a fully fledged alternative to traditional currencies, despite its decentralized organization.
More and more online shops, casinos and trading platforms are starting to accept bitcoins. This article will analyze how to pay with bitcoins and weigh the pros and cons of this payment option.
How To Start Using Cryptocurrency
Paying with bitcoin requires the creation of a Bitcoin Wallet. This wallet will act as a typical e-wallet on which you will be able to deposit and withdraw funds.
On the Bitcoin website, you will be given the choice between four different types of wallets:
- Desktop
- Hardware
- Mobile
- Web
For the purpose of casino gambling and online shopping, our team recommends creating a web wallet.
They do not require the download of any software and can be accessed from any computer. Many players will find this type of wallet quite practical!
After having created a wallet, you will need to purchase bitcoins to be able to carry out transactions. To do so, you will have the choice between many different options:
- Your very own Bitcoin Wallet: the bitcoin wallet interface allows its users to purchase bitcoins directly.
- Bitcoin exchanges: Some online and physical shops allow you to trade Bitcoins for other currencies and vice versa.
- OTC (Over the Counter): Bitcoins can also be exchanged between two consenting parties at a pre-specified price.
- Specialized ATMs: In some countries and cities, you will be able to purchase bitcoins on specialized ATMs.
- Mining: Bitcoin mining is essentially solving math problems in exchange of bitcoins.
Here also, we recommend the first option. Purchasing bitcoins from your wallet is usually the most efficient way to obtain bitcoins and start playing right away.
How To Deposit
Yes, bitcoins are fascinating in themselves. But many casino players will actually find depositing and withdrawing funds with bitcoins quite useful.
Today, only a handful of online casinos accept bitcoins as payment method. However, following a recent trend, more and more brands are starting to seriously consider using “the currency of the future”.
Both deposits and withdrawals are extremely easy. With your bitcoin wallet, you will be able to transfer funds to and from a casino just like any e-wallet.
Select bitcoin as a payment method and follow the instructions given by the casino website. This will generally be a simple process of adding a bitcoin ‘address’ from your wallet, into the form on your casino website. That is normally all that is required.
Advantages
- Speed: Bitcoin transactions are quasi instant.
- Security: One of the reasons bitcoin has become the world’s leading crypto-currency is its extremely secure payment interface.
- No Third Party: As opposed to many e-wallets, bitcoins do not require the involvement of any third party (bank, e-wallet platform…).
- Anonymity: Bitcoin transactions are fully anonymous.
- No Fees: Powered by block-chain technology, bitcoin payments are usually exempt from any fees.
Disadvantages
- Value fluctuation: One of the main issues associated with Bitcoin payments is that the value of this currency fluctuates. This could also be seen as an advantage, who knows, the bitcoin might rise again.
- Taxes: Because the value of bitcoin fluctuates, some governments might require bitcoin users to pay specific taxes.
- No Cancellation: As opposed to credit card transactions, bitcoin payments are irreversible and cannot be cancelled.
Conclusion
All in all, bitcoin is a very promising method of payment thanks to fast payments, a secure interface, anonymity and low fees. Even if the set-up could be scary, the bitcoin website is very well crafted and in less than a few minutes, you will be able to understand the concept of bitcoin, set up a wallet and start depositing in your favorite bitcoin casino.
FAQ
Which online casinos accept Bitcoin?
Use the list of Bitcoin casinos to see all online casinos that accept Bitcoin payments.
Bitcoin News
Categories:News, Online casino tips|Published by: YummySpins
Know About the Working of Bitcoin Casinos
The reputation of bitcoin as a digital currency has opened up a new way to flourish the economy of a country, and it is parallel to the conventional currency-based economy. Do you like to know how bitcoin casinos work? If yes, then read on this article.
What are Bitcoin Casinos?
Bitcoin is known to be the most famouscryptocurrency or digital currency. Some online casino performs transactiononly using bitcoins, whereas other operators provide bitcoin as the extra currencyof transaction along with conventional currency such as USD. Plenty of onlinecasinos provide gambling and money-based games in the field of bitcoincurrency.
The best bitcoin casinos Betsafe bonus terms and conditions. work from various parts of the world, and they are supposed to obey local laws. With bitcoin transactions, the online casinos offer a wide range of options for the players to place their bet on gambling games, casino games, online lotteries, and sports-based betting, etc.
Many bitcoin casinos need minimal user details, nolocation check, or no age verification, and other information. The bitcoin casino bonus is also quite highwhen compared to a currency-based bonus.
Some of the well known casinos who accept bitcoins offer good no deposit and welcome bonuses:
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Do you like fun comics-themed gaming experiences and super heroes? Slotman Casino — welcomes big fans of Superman and not only. At this casino website you will find super powerful Welcome bonus package, strong as iron selection of online slots and much more cool things. Grab the promo and have fun!
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Syndicate Casino is one of those few very modern casino sites where you can use Bitcoin as payment method, enjoy solid bonuses and its programs, get withdrawals very fast, play on device you prefer without any issues, delays or lags. Grab the bonus and try Syndicate Casino!
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PlayAmo Casino welcomes casino players with modern and mobile responsive design — created to enjoy gaming on any time, at any place and on any device. Solid bonuses, ongoing promotions and great tournaments are often mentioned by casino fans. Moreover, PlayAmo offers one of the fastest withdrawals in the market and many available payment methods including Bitcoin. Grab the bonus code and start playing!
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BetChan Casino offers wide range of casino games to it’s players: online slots, roulette, blackjack, live casino and some exclusive entertainment such as bitcoin games. In addition, VIP program as well as tournaments are worth to mention what players can find at BetChan Casino. As always, the best way to start is with great Welcome bonus casino has — package of deposit bonus and free spins for the first 4 deposits. Grab the promo code and enjoy this casino site!
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iLucki Casino — is a casino site designed to serve various players and their needs from around the world. Big selection of casino games’ categories and slots can be found here. Moreover, many different languages, currencies, payment methods — every player will find the most suitable option. Grab the bonus and enjoy playing at iLucki Casino.
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How do the Bitcoin Casinos Work?
Gaming software is the soul of any gamingbusiness or online gambling, and it seems to be true for the bitcoin casinos aswell. Most of the famous bitcoin casinos with huge user-base operate with thehelp of the gaming software created by them. While other smaller players dependon rented or purchased versions that might be customized by including a fewdistinct features in the game.
The gambling software verifies and runs the game with theleast human intervention. Thus, the game requiring human players lets thesoftware to play the role of a dealer. Poker is one of the most famous games ina bitcoin casino, while plenty ofother fascinating games, variations of famous games and lotteries also exist.
How are Bitcoin Casinos Attaining High Popularity?
Most of the bitcoin casino providers offerzero transaction fees with enormous free daily transactions. On the other hand,conventional currency-based casinos have set limits and high transaction fees. Theonline digital nature of this transaction facilitates global access and gathersthe attention of the players in huge numbers, round-the-clock.
As online games are hugely beyond thecontrol of authorities and purview, most of the games seem to be customizedwith tweaks in the game rules. This kind of variation is not permitted legallyin the conventional currency-based online casinos. So, it seems to be the vitalreasons for bitcoin casinos’ popularity.
Overall Verdict
Thus, whether casino gambling is based on anonymous digital currency transactions or conventional currency transactions, it is always a debated topic in terms of ethical grounds. With bitcoin transactions, you can avail quick and easy moneymaking options; however, the user must consider risk areas, challenges, and legal aspects before using it.
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