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Top Bitcoin Casinos: Why You Should Try Them
Bitcoin gambling sites are now popular among gamblers. They offer an attractive combination of anonymity, safety, and transaction speed. The top platforms currently allow gamblers to deposit and withdraw funds with this cryptocurrency. This page contains all the necessary information about its benefits, casino payouts, bonuses, and much more.
Few Words about Bitcoin
Bitcoin is a relatively new currency type that does not rely on banks and has no physical cash corresponding to it. It is a decentralized virtual currency used by thousands of people and businesses worldwide. Transactions made at the top Bitcoin casinos with this cryptocurrency are processed much faster and usually have lower fees than those with other payment methods since they do not involve banks.
This payment method protects the player’s identity and allows him/her to deposit and withdraw the money anonymously. It does not involve sharing any personal or banking information for making transactions. Therefore, Bitcoin casino transactions are virtually untraceable and 100% secure, making them a perfect way to enjoy real money playing and withdrawing winnings. Additionally, if the user keeps the earnings in Bitcoin and does not convert them to cash currency, this money will not be taxed because the decentralization of Bitcoin means there is no central regulating authority that can tax it.
Reasons to Use Bitcoin Gambling Sites
Bitcoin is one of the safest currencies that can be used on the Internet. It gives users a chance to deposit any amounts quickly with little or no fees at all. Here are some of the reasons to use BTC on gambling platforms.
This is probably the main benefit of cryptocurrencies. This means they are absolutely not connected with governments or banks, putting users in complete control of his/her money. They cannot be blocked, and the user’s account cannot be frozen. Furthermore, when playing at a Bitcoin online casino, the gambler can transfer his/her money to a crypto wallet without anyone knowing about it.
All e-commerce companies need to make money, and one of the ways to do that is through the transfer of funds. Conventional payment options often have high fees at gambling websites. Fortunately, blockchain transaction fees are far lower than these conventional methods, allowing players to keep more of the money they win.
One more benefit of Bitcoin gambling is transparency. Why is it helpful? Because due to the public ledger, the client’s transactions are visible. This means a user can prove he or she made a payment and verifies that his or her withdrawal was made by the BTC casino.
One of the goals of Bitcoin is to provide a worldwide payment system without any involvement or control from banks and governments. Such a lack of national and institutional control means that this cryptocurrency works exactly the same for all Bitcoin casinos, regardless of which country the player resides in.
BTC is pseudonymous, so a gambler’s private data stays hidden throughout transactions. The transition can be viewed, but it is only the amount that is visible. There are some Bitcoin online casinos that offer completely anonymous accounts, meaning a user can play his or her favorite games without revealing his/her private information. Additionally, transactions made through this payment system are not recorded on a user’s credit card or bank account statements.
BTC Gambling Payouts, Deposits & Waiting Times
This cryptocurrency is deposited electronically for playing slots with a specific wallet address similar to using bank cards. Find out more about Bitcoin transaction times and payouts.
BTC has become one of the preferred payment options at gambling platforms because of its prevalence, speed, and anonymity. Payouts made with this currency are usually the fastest and have the highest limits. Payouts are usually made in 2-4 hours. The limits for withdrawing cash may be as high as $100,000, depending on the casino.
How do deposits with this cryptocurrency work at BTC gambling sites?
For using, storing, and transferring Bitcoins, a user needs a cryptocurrency wallet. BTC can be transferred from one wallet to another. Each wallet has an address consisting of randomly generated numbers and letters. To deposit money, a user has to link his/her wallet to the casino’s wallet. Once the casino has a player’s address, the transaction and the verification process begins on the BTC network. Once it is confirmed, the money gets deposited into the user’s casino account.
How long are transactions being processed?
Transactions at Bitcoin gambling websites are often quicker than ones made with other payment options that may take up to several days. The only waiting time with BTC is when the transaction gets verified, which usually lasts no more than 10 minutes. For larger sums of cash, the system may require several confirmations. This process could extend the time from 10 minutes up to 2 hours.
How to Deposit and Withdraw at Bitcoin Casinos
Using BTC is super easy and safe. Here are guides on depositing and withdrawing money at the best Bitcoin casinos.
How to make a deposit
- Choose a casino and create an account. Existing members only have to sign in.
- Go to the cashier. On this page, choose Bitcoin as the payment method. You have to own BTC already and use one of the accepted wallets.
- Provide your wallet address. Every player with a Bitcoin wallet has a wallet address. Input this address to start the verification process.
- Select a deposit amount. Every online casino Bitcoin has different deposit and withdrawal limits. You will require the casino’s BTC address which must be provided directly by them.
- Fund the account and pay. It is always a good idea to review any deposit bonuses offered by a casino. BTC is an instant payment method that takes a few minutes to process the request.
How to make a withdrawal
- Go to the casino cashier. Once you are ready to make a withdrawal, open the cashier page at the chosen casino.
- Choose Bitcoin. Select Withdrawal and then BTC as your payment method. Indicate the sum you want to transfer out of your account.
- Generate the BTC wallet address. At this stage, it is necessary to go to the Bitcoin wallet and copy the wallet address it generates.
- Check the details. Provide the BTC address to the Bitcoin gambling site and check if everything meets their withdrawal requirements.
- Click withdraw to make your withdrawal. The money will be available within a few hours after the casino has processed the request.
How to Choose the Best Bitcoin Casinos
Selecting reputable websites
This seems quite obvious, but checking the website’s reputation is the easiest way to pick a good casino. It gives a gambler an idea of how the casino has been doing in the past and how it is doing currently. While the reputation does not correlate to the casino’s future, it is often an indication of how it has dealt with customers earlier. Also, make sure to choose only the licensed websites for enjoying dice games and other types of casino games.
Creating strong passwords
The users should always create reliable and strong passwords when signing up for anything online. Therefore, it is necessary to come up with both a secure and unique password when creating an account with Bitcoin casinos. It is recommended to create a password that consists of upper case and lower case letters, special characters, and numbers. Also, it is crucial to create unique passwords for each gambling platform a user registers with. A final tip is to change the passwords from time to time and never share them with anybody. Using software that randomizes the password on signup and remembers it is also a good choice that helps eliminate the risk of getting hit by a keylogger.
Multiple phishing scams are ready to steal users’ personal information. If a player receives a message asking to reply with his or her account details, the player should never click on any links within the message. A legitimate e-commerce company would never ask a gambler to directly enter any private information through an email. In such a case, it is necessary to delete a message, even if it looks like it is from the best Bitcoin casino website that the gambler is a client of. Such websites always offer an opportunity to contact them through their website.
Some exchanges tend to be more reputable than others. When a client purchases his/her virtual coins, he or she has to choose reliable crypto exchanges. It is also better to avoid purchasing coins from anybody over a forum. The player cannot know who he or she is dealing with, and he/she may find that the person fails to deliver on the promise.
The safest and most convenient way of making transactions to play roulette and other table games is using an online wallet or an application. Hardwire wallets or cold storage are less user-friendly but also very safe. A great approach to storage is to keep the online wallet for what the user uses regularly and cold storage for other balances.
Bitcoin Gambling Platform Bonuses
Just like other gambling websites, the best Bitcoin casinos offer multiple lucrative bonuses. A player has to make sure that he or she at least understands the basic terms before he/she commits to accepting any bonuses. Here are the main types of online casino bonuses.
Two main bonus types are match deposit and no-deposit bonuses. The first one is the one that a player is faced with the most often. It is a match percentage bonus, with the bonus value based on the user’s first deposit, up to a specific amount, for example, a 100% match bonus up to $500. Some Bitcoin gambling sites offer more profitable match bonuses, which reward a player once he or she makes his/her first several deposits. These are always worth taking a second look at since the gambler benefits from the offer for longer.
This is also a type of bonus that is frequently offered by the top Bitcoin casinos. In simple words, it is a bonus that does not require any deposit to be claimed. These are often far smaller than traditional deposit match bonuses. These are very beneficial since they do not require any financial commitment, meaning a gambler can try his or her luck without risking any real money. All that is needed to claim this type of bonus is to create an account and receive the bonus to give a casino a try.
Alternatively to a match bonus, free spins are awarded either as part of a welcome bonus or exclusively as an incentive for making the first deposit. Sometimes, free spins are offered in the form of no-deposit bonuses without requiring a client to make a deposit at all.
These are bonuses that have no wagering requirements, meaning that a bonus can be claimed, used, and then withdrawn without any requirements for how many times the bonus amount is used in poker or any other game.
Many Bitcoin casino sites offer reload bonuses designed for gamblers who “reload,” meaning deposit more than once. These can be especially often met at crypto platforms since many BTC users like to deposit more than once. Reload bonuses are much like the regular welcome offers and usually have similar wagering requirements.
Pros and Cons of Bitcoin Online Casinos
Crypto gambling platforms, just like other kinds of casinos online, have their advantages and disadvantages. While some are quite subjective, others are undoubtedly significant for any gambler. Here are the main pros and cons of BTC gambling.
- Transactions are completed within minutes;
- Absolute anonymity is possible;
- Users can use Bitcoin wallets from their mobile apps;
- BTC wallets provide high-end security;
- This payment method in Bitcoin casinos involves small or no transaction fees at all.
- BTC is still a relatively new and untested currency;
- Bitcoin could be quite difficult to understand for users who have never used it before;
- BTC value fluctuates with users and markets.
What is Bitcoin?
Bitcoin is a digital asset and payment system. It is considered a virtual currency. One can obtain BTC by accepting them as payment when buying them from someone. A BTC user can use computing power to complete tasks and mine BTC.
What is a Bitcoin Wallet?
It is a device that stores a user’s BTC and allows him or her to transfer and receive coins. The unique address lets the user perform transactions at Bitcoin gambling platforms and Internet retailers safely and anonymously.
Is Bitcoin a safe casino deposit method?
Yes, BTC is a safe deposit method. Its transfers are secure since they use blockchain technology to transfer any currency. This means a system of checks and verifications takes place before a transaction occurs. Besides, any website from the Bitcoin casino list has additional measures to protect the player’s identity and wallet address.
How fast are BTC transactions?
They are almost instantaneous since they do not require any processing time with an external bank, unlike with other banking methods like bank cards or e-wallets. This concerns both withdrawals and deposits.
How does BTC compare to other banking methods?
This currency compares very well. It has an edge on other options for its instant transactions and anonymity. With e-wallets like PayPal, a user has to tie his/her account to the bank. BTC wallets do not require this. Therefore, they are considered a far more secure payment method. The only drawback when you select using a casino Bitcoin is that this currency’s value fluctuates: if the value of your BTC goes down, you cannot withdraw as much money.
Are there any fees with Bitcoin transactions?
Usually, there are no fees, or the fees are very low. BTC can be purchased and sent peer-to-peer across the globe without going through a bank clearing house, meaning there are no processing fees. However, there may be some processing fees depending on the gambling platform accepting Bitcoins.