Bitcoin is the most popular cryptocurrency, and unlike fiat currencies (such as the dollar or euro), it is not controlled by a central bank and operates on a peer-to-peer market. A Bitcoin casino is a casino that accepts cryptocurrencies as a payment method.
There are two types of casinos using Bitcoin as a payment method, those that exclusively use Bitcoin and other cryptos, called Bitcoin casinos; and those that accept both cryptocurrencies and fiat currency, the latter being known as hybrid Bitcoin casinos.
Bitcoin casinos accept deposits with Bitcoin and allow players to withdraw their profits to their Bitcoin wallet.
How to Deposit Bitcoin into Casino Account
Depositing Bitcoin into a player’s account is super easy and fast. After signing up to an online Bitcoin casino, you will be given the Bitcoin address of your casino account, which should be the address used to send money from your Bitcoin wallet to your online casino account.
Sending money to your Bitcoin casino account is a fairly quick process, taking only a few minutes, and with fairly low transfer fees.
How to Withdraw Your Bitcoin Earnings from Your Casino Account
Withdrawing bitcoins from your casino account is also quite easy and quick, you just need to transfer the money from your casino account to your Bitcoin wallet. That is, you copy the address of your Bitcoin wallet into the transfer field in your casino account, validate, and after a few minutes you will receive your earnings in your Bitcoin wallet.
What are the pros of Bitcoin Casino gambling?
There are several benefits to gambling at a Bitcoin Casino, the main ones being that payment processing is secure and fast, and the anonymity that gambling with cryptocurrencies brings to the player.
- Fast and Flexible
One of the main factors in Bitcoin’s success is the speed of its transactions (both deposits and withdrawals) when compared to any other traditional payment method. This is due to Bitcoin technology, which also allows for higher limits on both deposits and withdrawals.
Another major benefit of playing with Bitcoin is its transparency. That is, any transactions made with Bitcoin are listed and can be seen by anyone, however there is no personal data associated with the transaction, which allows for maximum transparency and anonymity.
Each transaction has an associated code, known only to the bitcoin sender and receiver, which prevents any kind of fraud. Plus, transactions with cryptocurrencies do not rely on third parties, such as banks or financial authorities, so there is no entity other than the sender and receiver to be aware of the transaction.
Besides this transparency, Bitcoin users have total control over their funds, so it is impossible for them to be blocked by any financial authority (bank or government).
Bitcoin casinos only require the player’s email address at sign-up, which helps maintaining the anonymity of those who use these kind of casinos.
- Casino games available at a Bitcoin Casinos
Bitcoin casinos have the same games available as any traditional online casino.
Bitcoin casinos offer a wide range of games, so there is something for every type of player. That is, you will find games such as slots, with progressive or fixed jackpots, table games such as Blackjack, Baccarat, Poker or Roulette, provided by top companies such as Netent, Pragmatic Play and Evolution.