Best bitcoin online casino sites that accept deposits at Bitcoin
Bitcoins is the innovative currency of the digital age that provides players with a safe and easy way to get their money in and out of their casino account. Due to the great benefits, the number of online casinos in 2020 that offer bitcoins as a payment method is growing rapidly. Below you can find the complete list of all the bitcoin casinos that CasinoBike has reviewed so far.
What are Bitcoin Casinos?
Bitcoin Casinos are all the online casinos that offer virtual bitcoin as a payment method. Bitcoin (BTC) is an encrypted digital currency that’s become very popular over the past few years. It’s unlike traditional currencies, such as the US dollar, euro and pound sterling, because it doesn’t have a central bank and operates only in the peer-to-peer market. Therefore, bitcoins can only be transferred between users via bitcoin addresses, which are a series of numbers and letters ranging from 27 to 34 characters.
There are only bitcoin casinos that deal exclusively with bitcoins. However, there are some that have been dealing with traditional currencies, and are now adding bitcoins as another method of deposit and/or withdrawal. The latter are called hybrid casinos. Most of them will accept deposits via bitcoin and process withdrawals back to a bitcoin address of your choice, but will convert the funds to a traditional currency when you deposit.
How can I get the bitcoins?
Find a reliable place to buy bitcoins. The easiest choice would be an established exchange service like Bitstamp, BTC-e, or Kraken. The most common way to get bitcoins is by bank transfer (e.g. SEPA, ACH, or wire transfer). However, there are some services that offer other methods such as regional payment vouchers, electronic wallets or even credit cards.
Once the location has been chosen and the payment method decided, the bitcoins are purchased. The operations are usually done instantly and at the current market prices. The exchange usually charges a very small fee that pales in comparison to most e-wallet fees.
How to Deposit into your Casino Account?
When you register, you will be given your bitcoin address, which you should use when you decide to make transactions with an online casino. Depositing money into your casino account is instantaneous and virtually free. You only have to wait for the transaction to be confirmed by the blocking chain, which almost always takes less than an hour. Once the funds arrive in your account, you are ready to play.
Also remember to keep an eye on the promotions page, as it’s the same as for traditional transactions. All brands have their own casino bonuses and giveaways that can increase your chances of winning.
How to cash in your winnings?
When you decide to cash out through bitcoin, simply send your coins to the address of your exchange service. You will need to sell them your bitcoins and request a bank transfer or other withdrawal method. However, if you prefer to keep your bitcoins, we recommend that you download your own free bitcoin portfolio and protect it with a password. Please note that bitcoin prices fluctuate.
What are the advantages of playing with bitcoins?
The reason why Bitcoin Casinos have taken the online gambling industry by storm is very simple – they offer many benefits:
First of all, payment processing is completely safe, easy and free. Many well-known casinos cover the processing fees themselves when dealing with traditional currencies, but in unregulated markets like the US, players end up covering fees of up to 10% of their winnings. When playing with bit currencies there are no processing fees at all, which saves money for both casinos and players.
Another benefit is the fact that Bitcoin isn’t tied to any government or bank. Funds can’t be confiscated or frozen in the same way as if they were in a bank using traditional currency.
This is not a big problem for those who live in legal and regulated online gambling markets, but for the unregulated markets, this is a very important aspect. For example, it’s not unlikely that US players will have their funds frozen. Bitcoin users have full control over their funds, so situations like this can’t happen.
Anonymity when playing online is also a big advantage. Most Bitcoin casinos only ask for the player’s email address to retrieve the password. The vast majority don’t ask for personal information, such as your name and address.
Games in bitcoin casinos
Bitcoin casinos offer the same games as traditional online casinos. Whether you’re a fan of online slots or more of table games, you don’t have to worry. Bitcoin Casinos have a wide variety of games to choose from.
Very often, at Bitcoin Casinos you can prove that the game is fair, a revolutionary way of determining fair play. Each game is calculated differently, but the concept is spreading in most of the major Bitcoin casinos. Players can verify that a game is fair by entering the betting identification numbers and other information that varies depending on the site.