Best Bitcoin Online Casinos

An Introduction to Bitcoin and Best Bitcoin Online Casinos

Bitcoin is a cryptocurrency, not backed by a country’s (or economic area’s) central bank. It is a digital currency, whose value is chiefly determined by demand and supply. A government-issued (fiat) currency, such as the US dollar, is impacted by many factors. Some of these include supply & demand, government debt, inflation, interest rates and the balance of trade, to name a few.

Advantages of Bitcoin and Best Bitcoin Online Casinos

Bitcoin has the distinction of having become the world’s first cryptocurrency. Since being created in 2009, it has become a popular storer of value and medium of exchange. Even today, it remains the most popular cryptocurrency in a pool of 5,000 and counting! It has several advantages that have given it an edge over other currencies when it comes to online casinos.
Some of these include:
• Growing acceptance by online casinos
• Stored in Bitcoin wallets compatible with mobile, desktop or both
• Greater liquidity relative to other cryptocurrencies
• A borderless currency that lowers transaction fees typically to no higher than 1% of the value
• Decentralisation (P2P network) eliminates the need for using banks
• Blockchain technology acts as a digital and publicly available ledger of all transactions, increasing transparency and reducing fraud
• Safer for senders as payments exclude personal details, and sender controls the payment amount.
Bitcoins are increasingly becoming used by brick and mortar businesses such as restaurants as well as online merchants. With this said, there remains one significant disadvantage to consider, which is the volatility in the price of Bitcoins.

How Do I Get a Hold of Bitcoins?

Buying Bitcoins (ISO: XBT) on a Bitcoin exchange is a good way of getting your hands on them, at the quoted price. Depending on the exchange, you can purchase coins using fiat currency such as US dollars or even another cryptocurrency like Ethereum (ISO: ETH). Most exchanges will accept one or more payment methods like credit cards or bank transfer. There are many Bitcoin exchanges, some of which include Kraken, Bitstamp, Coinbase and Coinmama.
Once you’ve purchased your Bitcoins, you’ll want to move them off the exchange and into your e-wallet for safety. Enter the public key (address) of your wallet and follow the on-screen instructions.
You can also get your hands on Bitcoins by exchanging them for fiat currency with someone else. Some international Peer-to-Peer (P2P) networks include Paxful, Local Bitcoins, BitQuick and Bisq. There are also local ones depending on your country of residence.
You can also sell goods or services for Bitcoins or acquire them through the process of Bitcoin mining. The role of a Bitcoin miner is to ensure that the network is secure, issue new Bitcoins as well as to process transactions. This is accomplished with blocks of transactions chained together to solve a computational problem. Bitcoin miners are compensated with transaction fees and new Bitcoins.

What is a Bitcoin Wallet?

As with physical cash, you’ll need somewhere to store your Bitcoins. This leads us to the Bitcoin wallet, which is the equivalent of a bank account where you store receive or send Bitcoins. Of course, since Bitcoins are digital, it’s not so much the currency that you store so much as your private key which is a secret code required to spend them. The private keys act as ways of communicating securely using encryption technology.
There are different types of Bitcoin wallets, including hardware wallets, mobile wallets and web wallets to manage your private keys. You’ll need a separate wallet for each cryptocurrency that you plan on holding. Each type of wallet has advantages and disadvantages that you’ll need to weigh, so do your research and watch out for scam wallets designed to steal your Bitcoins. Some example of e-wallets includes Bitcoin Wallet, Edge, Coinbase, Exodus and Trezor.
Be wary of losing your wallet as you’ll also permanently lose access to your Bitcoins as it is impossible to retrieve your private key(s).

Best Bitcoin Online Casinos

Bitcoin casinos are operators that allow players to deposit, play and withdraw funds to/from their online player account using Bitcoin currency. Most casinos that accept Bitcoins also accept other cryptocurrencies which might include Ethereum, Bitcoin Cash, Dogecoin or Litecoin, to name a few. There are many reasons why cryptocurrency casinos appeal to players starting with anonymity and not having to provide personal information like credit card numbers.
State-of-the-art technology uses encryption to protect data, and the fees are relatively low.

Choosing The Best Bitcoin Online Casinos

So you’re sold on the benefits of using Bitcoin and ready to get started hunting for the best Bitcoin casino. So where do you start anyway? Well, the good news is that there’s no shortage of cryptocurrency casinos that accept Bitcoin.
It’s a good idea to shop around as the competition for new players can be fierce, and the casinos will try to one-up one another with attractive welcome packages. Do your due diligence when selecting a cryptocurrency casino which, at a minimum, should have a license and enjoy a good reputation with players. Many cryptocurrency casinos are licensed in Curaçao, and a few licensed elsewhere like Malta by the MGA. Consider a casino that uses a cryptographic method called provably fair, that verifies that the outcome of any game round is random.
The welcome bonuses are promotions that may entail several possibilities, some of which include a match deposit bonus and/or free spins. Consider the welcome bonus as a sweetener provided by the casino to get you to sign up, deposit, and play.
As is the case with all bonuses, keep in mind that terms and conditions apply including wagering turnover requirements, so read them carefully. While most players take advantage of the welcome offer, some find the requirements too restrictive. Since the welcome offer is optional, it comes down to you to decide whether to claim it.

Introducing The Bonus Code

To explain a bonus code, we can use the analogy of a coupon at a pizza restaurant. You see that a slice of your favorite pepperoni pizza and a coke is on offer but, you need to present a coupon to qualify for the offer. A bonus code is simply a short, alpha-numeric code that you need to input to be eligible for your welcome offer.

Bitcoin Casino Signup, Deposit, and Claiming your Bonus

The process of signing up and claiming your bonus at the Bitcoin casino should really only take a few minutes and is similar across casinos.

1. Begin by registering at a Bitcoin casino by following the on-screen steps. Typically, you’ll begin by entering your email address and a chosen password.
2. Proceed to the cashier (deposit) section of the casino, and it’s around this point when you’re invited to enter the bonus code. You can typically find the bonus code under the promotions section.
3. Be sure to choose Bitcoin as your currency. You’ll see a Bitcoin address or QR code which is where you want to send you Bitcoins too. You will want to copy the Bitcoin address to your cryptocurrency wallet and enter it in the ‘Send Bitcoin’ section. Enter the number of Bitcoins that you want to send, and click on ‘Send’. You’ll also need your private key to complete the transaction.
4. Within a few minutes, you should see the Bitcoins in your account, and you’re ready to begin playing with real money.

Withdrawals at a Bitcoin Casino

To withdraw your winnings, you will want to make sure that the casino allows you to transfer Bitcoins out from your player account back into your Bitcoin wallet. Keep in mind that the Bitcoin casino may have withdrawal limits which you can find in the terms and conditions.

Playing Games at a Bitcoin Casino

Once you have deposited Bitcoins into your player account and can see the funds you are ready to play. There are thousands of slots, casino games and live casino games to choose from, and dozens of developers. In many cases, you can try slots and online casino games for free to get a feel for them before playing for real money.

A Final Note on Best Bitcoin Online Casinos

The rise of the cryptocurrencies, like Bitcoin as an alternative currency, has resulted in a surge of Bitcoin casinos. Making deposits and withdrawals has never been more discreet, easier and safer. New players qualify for the same or similar welcome bonus that they would with a fiat currency. Playing with Bitcoins will mean that you will need a Bitcoin wallet and that you will need to acquire Bitcoins either from an exchange or a P2P network.

FAQ of Best Bitcoin Online Casinos

  • What is a Bitcoin casino?

A Bitcoin casino as an online casino that allows you to deposit, play, and make withdrawals using Bitcoins. A Bitcoin is a cryptocurrency or digital currency that is not issued by the central bank of a country. You can still find all your favorite slots, casino games, and live casino games as well as qualify for bonuses. In addition to Bitcoins, casinos may also accept alternative fiat or cryptocurrencies like Ethereum or Bitcoin Cash.

  • Are Bitcoin casinos safe and secure?

Yes – Making transactions in Bitcoins is safe and secure. An online player controls the amount sent and does not need to provide sensitive details like credit card numbers to the operator. All you need is your private key and the Bitcoin address to send a payment. To reduce the risk of having a bad experience, only play at a licensed casino. Ideally, the casino allows you to use provably fair technology that verifies that the outcome of any game round using a random number generator is fair. Also, remember to keep your private key(s) safe and secure.

  • What do I need to play at a Bitcoin casino?

To play at a Bitcoin casino, you simply need to have the minimum number of Bitcoin required to make a deposit by your casino. If you’re new to Bitcoins, then you’ll need to purchase Bitcoins and store them in a Bitcoin wallet for safekeeping.

  • Can I make a deposit and withdrawal from a Bitcoin casino?

Yes – you can make deposits from your Bitcoin wallet to your player account and withdrawals back from your player accounts to your Bitcoin wallet. Remember, it can take anywhere from a few minutes to 24 hours for the transfer to reach your player account. Withdrawals are typically quite fast to perform once your request to withdraw has been approved.

  • Is Gambling at a Bitcoin casino legal?

Gambling at a Bitcoin casino is legal in many parts of the world, which is why you find many Bitcoin casinos. Many of these casinos will accept Bitcoin alongside other cryptocurrencies and fiat currencies like USD.

  • Can I receive a casino bonus when playing at a Bitcoin casino?

Yes – new players who deposit Bitcoins qualify for a welcome bonus that may consist of a deposit bonus, free spins or other promotions on slots and/or (live) casino games.
Remember to go over the terms and conditions carefully before you opt-in as there are wagering requirements before you can cash out your winnings. Don’t forget to enter your bonus code or you won’t qualify for the bonus.

Read more

Subscribe Newsletter