Bitcoin Online Casinos
When Bitcoin was introduced in 2008; people that were not involved in its creation did not give it a chance. Fast-forward to 2022, and Bitcoin has grown to be one of the best methods of making transactions in most sectors. Bitcoin is a decentralized peer to peer payment system, and because of this, it presents the most anonymous method of exchanging funds. With the aforementioned quality, Bitcoin, and cryptocurrency as a whole became one of the most suitable payment methods for online gambling. It presents a very great avenue for players that will like to engage in online casino activities without traces. People who do not want to share their financial details with the rest of the world, those without credit cards or bank accounts, and people that live in jurisdictions where other payment methods cannot work because of restrictions, can easily use the Bitcoin online casinos.
What is Bitcoin?
Bitcoin is a decentralized digital currency that is bereft of any central authority. It’s a peer to peer system where a network takes charge of the transactions and payments. It is currently an open source system, with a very public design that is owned and controlled by nobody. Everybody can take part in mining, purchasing and owning Bitcoin, and it could be used for any type of payment like the traditional fiat money.
No central bank controls the use of Bitcoin and no single body that takes care of its administration. The entire Bitcoin transactions happen between the users in a very direct manner, and so does the Bitcoin online casino transaction happen directly between the casino and player. For security and safety purposes, there are network nodes that verify the transactions with Bitcoin. This node does its work through solid cryptography, and the outcome is stored in a publically distributed and accessed ledger called blockchain.
Benefits of Bitcoin Online Casinos
The benefits of using the Bitcoin payment system are so numerous. It offers an avenue for discrete transactions. The identity of the buyer and seller are never known by both of them and by any other system. It does not give room for any third party interruptions. There are no taxes on transactions with it, transaction fees are either none existent or very low, and it is the best system for mobile payments. To get a Bitcoin, all you need to do is to create a Bitcoin wallet, load it with Bitcoin. You can do this by buying through your wallet, through Bitcoin exchanges, over the counter, through Bitcoin ATMs or by mining directly from the center with special software.
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Types of Casinos accepting Bitcoin
Online Casinos That Accept Bitcoin
Bitcoin is currently the newest trend in the world of financial transactions. So, a lot of institutions are embracing it as a mode of making purchases and payments. Bitcoin online casinos delved into this because it provides a lot of benefits to players and the casino. There are two major types of Bitcoin online casinos, the ones that are specifically for Bitcoin payments only and those that accept both Bitcoin and other payment systems. For the first set, you will have casinos like 7 Bit, Bit Casino, Betcoin, Sportsbet.io, Cloudbet Sports, 4Grinz Bitcoin and mBit, Crypto Games, Bit Starz, Betcoin Poker, Bitcasino – Sports, Bitcasino – Bitcoin Raffle, Vegas Casino and others. Casinos that accept Bitcoin and other payment systems include Cloudbet, BetChain, Betchan, Oshi, Fun-Casino, and 24 VIP, 123 Vegas Win, Dimes, and Black casinos. Others are JackpotCity, Betway, SpinPalace, Casino Room, TonyBet and JoyCasino, NetBet, ZigZag777, AfriCasino, Das Ist Casino, Argo Casino and others. There are only a few casinos that do not accept the Bitcoin payment system yet.
Making Payments and Withdrawals in Bitcoin Online Casinos
To make use of the Bitcoin payment system, you need to choose the Bitcoin payment option, open your Bitcoin wallet, enter the amount you wish to deposit and enter the casino’s Bitcoin address. Click ‘confirm’ after this, and you will have the money transferred into your casino account. When you want to withdraw, repeat the same process in reverse and you will have your money back in your Bitcoin wallet.
Bitcoin online Casino Types
There are two types of Bitcoin casinos. They include the casinos that accept only Bitcoin as their payment method and those that accept both Bitcoin and other traditional fiat payment methods. The benefits of the Bitcoin exclusive casinos over the hybrid type include;
- Fast processing of payments with little or no fees
- Playing with Bitcoin, without any need to exchange the money into USD
- There are smaller table units
- They have better odds
- They are the best for areas where other payment methods are prohibited
However, they have limited games and most of them are not properly licensed.
Countries Where Bitcoin Operates
Because of the anonymous and decentralized peer to peer nature of Bitcoin, the payment system can be enjoyed from every country in the world. However, there are countries where Bitcoin are officially legal and countries where they are not yet legal. You can enjoy Bitcoin payments in the United Kingdom, Canada, Japan, Hong Kong, United States, Australia and New Zealand and in most of the European and South American countries. However, Bitcoin is still illegal in countries like Ecuador, Bolivia, Bangladesh, Nigeria, and Kyrgyzstan.
F.A.Q.
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Can I use Bitcoin for Depositing in UK and Canada?
Yes, Bitcoin payments are accepted in the UK and Canada.
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Can I Use Bitcoin in Mobile Casinos?
Yes, most of the Bitcoin online casinos have mobile versions. Also some of the hybrid online casinos accept Bitcoin for payments in their mobile casinos.
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Can I withdraw the won money from casino via Bitcoin?
Yes, you can withdraw your winnings from the casino into your Bitcoin wallet.
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In What English-Speaking Countries does Bitcoin operate?
Bitcoin operates the Australia, New Zealand, United States, United Kingdom, Canada, South Africa, and others.
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What Are the Alternatives for UK and Canadian Players?
Canada and UK players can also use PayPal, Visa, MasterCard, Skrill, American Express, bank transfer and other payment methods.
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Can Someone Track and Identify my Bitcoin Deposits?
No, Bitcoin transactions are conducted through blockchain and the person’s identity cannot be traced through that.
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Do All Casinos Accept Bitcoin?
No, not all casinos accept Bitcoin payments.