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Bitcoin Gambling – How It Works and Why It's So Popular

bitcoin gamblingBitcoin gambling sites are growing in popularity every day, and for a good reason. These operators let you gamble using the worlds' most famous cryptocurrency and stay anonymous. BTC casinos give users freedom and flexibility, while they don't sacrifice any of the quality. Yet, many inexperienced players still aren't sure whether Bitcoin casinos are the way to go. In this article, we'll go over the basics of why you should choose the currency. Moreover, we'll teach newbies how to use it and which are the best BTC casinos online.

Gambling With Bitcoin Overview

BTC gambling has become extremely popular over the past few years. The iGaming industry accepted it with enthusiasm, thanks to all the benefits it provides to operators. Although players were sceptical initially, Bitcoin has established itself as a preferred form of payment for many.

BTC iGaming operators allow you to play anonymously. They usually don't require any personal or banking information, and they definitely don't ask for banking details. Additionally, Bitcoin transactions are fast, easy, secure, and they enable users to keep their casino activities outside banking reports. Finally, using Bitcoin is straightforward, and it works on desktops and mobile devices.

How We Rate BTC Casinos

Picking the right Bitcoin gambling sites can be challenging for players. Our goal is, as always, to provide you with the most accurate information. Therefore, we have some strict criteria that each casino must fulfil before we place it on our list of recommendations. The main aspects we consider are:

  • Certification and licenses
    Playing at a trustworthy casino is essential for an enjoyable gaming experience. That is why the first thing we check about each operator is their licenses and certificates. Bitcoin casinos overseen by recognised regulatory bodies ensure the safety of your personal and financial information. Fair play and a high level of protection of your money are guaranteed. Usually, Bitcoin is accepted by international operators working under the jurisdiction of Curacao eGaming.
  • Software and game selection
    Every player likes variety – the more extensive the game library, the better. Sometimes, as big of a slot enthusiast you are, you get tired of slots, and you want to try something else. It's essential to have options, so we only recommend casinos that provide them. Of course, when it comes to games, it's vital that you don't play just any game. The game provider also matters, and our recommended Bitcoin gambling sites include games from well-known names in the industry. Betsoft, Play'n GO, Aristocrat, and Yggdrasil are just to name a few brands whose titles you'll find there.
  • Bonuses
    This is the first thing that entices players to register at any online casino. An attractive Bitcoin welcome bonus is an excellent way to start your gambling adventure. However, that's not all. We look for BTC casinos that offer no deposit bonuses, reload bonuses, cashback, and multi-tiered loyalty programs with added benefits for players.
  • Support
    Whatever online casino you choose to play with, at some point, you may face some difficulties. If you have any questions or concerns about the gameplay or your account that the FAQ section does not cover, you will need further assistance. The sites on our list have an excellent customer support team. Their agents work around the clock to help and assist you whenever you need it. And, the best part is that you have more than one way to reach them – live chat, email, or phone.

Banking with Bitcoin

If you are new to BTC gambling, you have landed at the right spot. Given that you have already set up and loaded your Bitcoin wallet, it is now time to learn how to use it for gambling. Below, we will give you detailed instructions on how to deposit and withdraw using the cryptocurrency. 

How To Deposit With Bitcoin 

bitcoin casinosOnce you have acquired some bitcoins, you are ready to play. Follow these steps to make your first deposit successfully:

  • Register an account with one of our tested BTC iGaming operators and go to the “Cashier” section.
  • Choose Bitcoin from the deposit methods list, and you'll be provided with a unique web address for your account.
  • Enter the address in the required tab in your Bitcoin wallet.
  • Input the amount you want to deposit and confirm the transaction.
  • BTC will be transferred to your casino account instantly or within minutes.

How To Withdraw With Bitcoin 

Cashing out your winnings using BTC is a very easy and straightforward process. Follow these steps when you're ready to withdraw the funds from your casino account:

  • Go to your account and visit the “Cashier” section.
  • Select “Withdrawal” and choose Bitcoin as a cashout method.
  • Enter the amount you want to withdraw.
  • Go to your wallet and copy the address.
  • Paste the address into the required field and make sure you meet the withdrawal requirements.
  • Complete the withdrawal by pressing the “Withdraw” button and expect to see the bitcoins in your wallet within a couple of hours.

Limits and Fees

We want to highlight that each Bitcoin gambling operator has its own limits and fees for depositing and withdrawing. Generally, you can expect to play in mBTC, which is a milliBTC or 1/1000th of a single Bitcoin. The cryptocurrency has a soaring price these days, so it wouldn't make sense to play in BTC as that would require complicated figures.

The minimum deposit usually is between 0.001 BTC and 0.002 BTC, while the minimum withdrawal moves around 0.004 BTC. Usually, there are no processing fees. In case there are some charges, you can expect something around 2%.

Buying and Storing Bitcoin 

best-online-bitcoin-casinosThe main thing you must do if you're trying to get into crypto gambling is to learn how to buy and store the currency safely. Safely is the keyword here because you can buy Bitcoin from private sellers, which we don't recommend as the risk is too high. There are better ways to get some BTC and play at Bitcoin casinos while also staying anonymous. Keep in mind that different sellers come with different rates and advantages so, choose wisely.

  • Online Bitcoin Exchanges – Bitcoin exchange sites allow you to buy BTC with cash or other cryptocurrencies. Most of these platforms are available worldwide and offer hundreds of currencies. That way, you can quickly exchange currencies depending on what your preferred Bitcoin gambling sites accept.
  • Local Bitcoin Exchanges – Local exchanges cater to people living in the country. They are especially beneficial because they accept bank deposits, wire transfers, and online payments as well. Local BTC exchangers are fully regulated, so safety is not an issue at all. 
  • Bitcoin Brokers – While exchanging means that you have to buy BTC from other people, users who are selling them, with brokers, it's different. Bitcoin brokers directly sell the currency. They sell the currency at a set price, so you don't have to pay more using other methods. 

Benefits of Gambling With Bitcoin

Bitcoin casinos didn't randomly become favourite among players worldwide. Instead, they managed to do this by offering a range of benefits to users and operators. We listed the most important ones below.

  • Safety and security – Bitcoin wallets allow casino players to deposit and withdraw without exposing their personal details online. That way, instead of sharing sensitive information with the sites you gamble at, you will only do it when creating your BTC wallet. Then, you are entirely anonymous wherever you go online. In today's day and age of cybercrime, this is a massive advantage.
  • Fee – The digital nature of Bitcoin makes all transactions free, or when there is a fee, it's usually negligible. If you're a regular depositor at BTC casinos and moving around large sums, this can save you tons of cash. Besides players, operators also benefit from the use of BTC. It saves them lots of money in fees that they would have to pay if you chose another payment method. Therefore, many BTC casinos out there are willing to give players extra bonuses for using this cryptocurrency.
  • Speed and flexibilityBitcoin transactions are much faster than other conventional methods and, sometimes, even instantaneous. With other methods, payments are processed and sent out within days while Bitcoin casinos complete the process within hours. Furthermore, deposit and withdrawal limits are typically higher when you use the currency, which is very convenient.

bitcoin-casino-btc

 

Cons of Bitcoin Casinos

While everyone agrees that BTC gambling pampers players with pros, there are some drawbacks to consider, too. Bitcoin's price is highly volatile, meaning it can quickly lose its value. Moreover, handling your coins does include charges, which seem to be growing alongside Bitcoin's price. Finally, cryptocurrency isn't as widely accepted as other popular payment options. Plus, cryptos are still illegal in many countries. So, using this method may be impossible or inconvenient for millions of consumers.