- About Bitcoin & Its Usage In The Gambling Industry
- What is Bitcoin? Its Growth & Popularity at Online Casinos
- How To Deposit Using Bitcoin
- How to Avoid Scams & Gamble With Bitcoin Safely
- Top Online Casinos In 2021 Accepting Bitcoin & Crypto
- Advantages of Playing with Bitcoin
- Disadvantages of Playing with Bitcoin
- Bitcoin Alternatives
- Bitcoin Casino FAQ's
About Bitcoin & Its Usage In The Gambling Industry
Bitcoin works on Blockchain technology, making it difficult to trace, and by 2015, a conservative estimate is that 160,000 merchants, including Barclays Bank, were already accepting Bitcoin as a payment method. NetBet became the first UK Bitcoin casino in 2016, laying the paving stones for online crypto casinos and users to follow suit. These days a fair few UK online casinos accept Bitcoin as a depositing method. Bitcoin's intrinsic characteristics make it a favourite. Bitcoin casino withdrawals and deposits are swift, straightforward, safe, and cheap. Bitcoin's qualities make it suitable for online casinos and players alike.
User autonomy is a primary draw of Bitcoin gambling for many players. Since digital currencies allow more freedom than fiat currencies, players can control how they spend their money without dealing with intermediaries like banks. Bitcoin transfers are discrete, and your anonymous Bitcoin address changes with every transaction. That makes the best Bitcoin casinos so attractive to players. The elimination of bank charges is standard among all cryptocurrency exchanges, and you are not subject to banking fees associated with fiat currencies. There aren't any account maintenance or minimum balance fee charged and no returned deposit fees. Bitcoin Gambling sites also offer standard wire transfers, which typically involve fees and exchange rate costs. Since Bitcoin transfers have no intermediary institutions or government involvement, the charges for transacting are the absolute minimum. Furthermore, transparency, functionality, and speed make Blockchain entirely transparent and interference-free.
What is Bitcoin? Its Growth & Popularity at Online Casinos
There's been lots of excitement regarding Bitcoin's explosive growth, especially online casinos and sports betting. That is due in part to minimal banking fees and the ability to play anonymously. The best Bitcoin gambling sites are becoming more attractive and drawing in the crowds. So what distinguishes Bitcoin casinos from the rest of the pack? New UK casinos need to attract players quickly and build a customer base. So apart from the unique benefits of using Bitcoin to transfer funds, they offer exceptional welcome bonuses and multiple attractive ongoing Bitcoin promos.
How To Deposit Using Bitcoin
Once you sign up at one of the casinos accepting Bitcoin, you should visit the cashier section and follow the instructions that appear on-screen to set up your casino account. Next, choose Bitcoin from the payment options, and proceed as you would with traditional currencies. Subsequently, you will get an address where you can send your Bitcoin. Then, you can press the send Bitcoin tab on your e-Wallet and add the address before you click submit. The process lasts a few minutes, and the transactions take around 30 minutes to reach the casino from your e-wallet.
You can start by reading a few of our Bitcoin Casino reviews. That will point you in the right direction. We check all sites before recommending them; however, there are a few things you should limit yourself. The best Bitcoin casinos rank high in the following areas:
How to Avoid Scams & Gamble With Bitcoin Safely
Your safety is crucial, so make sure to check these practical ways to keep safe when you play at gambling sites on desktop and mobile.
Random Generator Password
One of the best things to do to secure your fiat and Bitcoin casino account is to use a random password generator. Then, you can quickly put your passwords in a vault and have your account safe and secure.
Check for Encryption
You should ensure the casino you play at has a secure system database and your passwords and sensitive data are stored properly.
Check the Casino T&C & License
When you check out casinos accepting Bitcoin, always read the terms and conditions to ensure your data or finances are safe. Never blindly trust a casino and make sure there's no fraud involved. Moreover, another thing to check is the casino's license since some online casinos operate without one. So always check if the request is valid and if the licensed stamp is genuine.
Top Online Casinos In 2021 Accepting Bitcoin & Crypto
Golden Lady Casino
- Accepts BTC & Crypto
- Mega Welcome Bonus - Good For Highrollers
- Alternative Choice of Games
Advantages of Playing with Bitcoin
Naturally, like with any other payment system, Bitcoin has its own fair share of pros and cons to using it at online casinos. Below we explore the main advantages of why some people opt to use Bitcoin at online casinos in the UK:
Bigger & Better Bonuses
Crypto casinos are renowned for their ultra-generous bonuses. You can often claim exclusive bonuses that go way and above the standard rewards at the casino. Moreover, some casinos offer regular Bitcoin deposit bonuses to encourage users to play more.
One of the benefits of playing at casinos accepting Bitcoin is that your virtual assets are decentralised. That assumes they have no ties to regimes or corporations, putting you in full charge of the finances. You cannot prevent them, nor will the account be frozen. You can transfer your cash to your Blockchain wallet without anyone observing while playing in a UK Bitcoin casino. The benefits of playing at an online Bitcoin casino mean that online gambling is a much different experience than playing in a traditional brick and mortar casino. However, the basic premise remains the same: to derive the most from spinning the reels on the various casino games.
Fast Payments & Transactions
Bitcoin casinos accept payments without third party interference, such as banks or other financial institutions. Moreover, since your transactions are directly between yourself and the UK online casino, there's seamless and fast processing of Bitcoin.
Privacy & Security Online
Low Transaction Fees
Bitcoin transactions have no intervention by third parties; therefore, you'll only need to part with lower fees while making deposits or withdrawals from the casino. Moreover, you won't have to pay any commission.
Disadvantages of Playing with Bitcoin
And here are some of the disadvantages that you may want to consider when using Bitcoin (or any other Cryptocurrency for that matter) at online casinos and gambling sites:
Not Widely Accepted
Despite its popularity, not all casinos accept Bitcoin. Nevertheless, the number of casinos accepting Bitcoin is steadily increasing since it suits players and casino operators. However, the same isn't valid for online vendors in other industries.
Since there's no one to control the Blockchain, it would be challenging to fix disputes with contracts. For example, suppose your e-wallet provider and the Bitcoin casino have a form of customer relations. In that case, they would have little influence. Furthermore, suppose someone steals the funds inside your crypto wallet. In that case, they might be untraceable, and you will have just a tiny hope of recovering them. That further reinforces the importance of using a good crypto wallet and ensuring that your funds are well guarded.
No Reversals or Chargebacks
The funds leave your wallet after you authenticate the transaction. If there's no issue with the casino, there is no option to chargeback and maybe even reverse the charge, as you would with a credit card.
Another factor that Bitcoin is well-known for is its instability, which can result in significant fluctuation. Although that may be advantageous, for example, as the value of Bitcoin rises, it may also have a contrary effect.
Another factor to consider when you consider joining a Bitcoin casino is choosing alternatives to fund your account and withdraw your winnings. Moreover, you may need an option to use in conjunction with Bitcoin, such as Neteller and Skrill, which you can use to deposit with Bitcoin or another crypto. PayPay is another helpful payment method. You may decide to deposit with a credit or debit card, bank transfer, so it's always good to have them available.
Bitcoin Casino FAQ's
We know that Bitcoin and any new-age cryptocurrency is a huge topic and one which is pretty hard to cover in one article, but we hope we've helped shine a light on how to use Bitcoin at online casinos, and also help you find safe and sound places to play. Below, we've also taken the liberty to add some common FAQ's asked around Bitcoin to help you further understand the topic. Feel free to reach out to us if you feel questions are needing adding or you have any questions for us too.
What is a Bitcoin Casino?
Bitcoin casinos are online casino sites that accept the cryptocurrency that is Bitcoin. Bitcoin Casinos will allow you to deposit by Bitcoin (and other Cryptocurrencies) and enable you to place real money wagers on their games and slots. To do this, players simply purchase Bitcoin (BTC) from an exchange (or transfer from their Bitcoin wallet) to the casino site to then play games and slots as normal.