What is Bitcoin?
Bitcoin is the first and most popular digital crypto-currency, that was established in 2008 and since then have been gaining popularity with online users all over the world. In fact, the count of Bitcoin users goes into millions, and as you probably guessed there are many online gamers and gamblers among them. That’s why lots of online casinos didn’t wait too long to start offering this unusual currency among their casino payment methods.
Advantages of using Bitcoin at the casinos
Created by mysterious Satoshi Nakamoto in 2008, Bitcoin brought to the market a lot of great things that many people were waiting for. First of all, it is not attached or related to any of the world’s currencies or central banks, and therefore is not affected by political and economical events and government agendas, so there is no inflation or fluctuation, which is a massive plus.
In addition to that Bitcoin is a currency that is free of charges and extra fees, which makes it attractive for both casino players and operators, who struggle with the high fees in their daily operations. And since the fees are non-existent the online casinos can make more profits and, because of that, have more room for being a bit more generous with the players, offering better casino welcome bonuses, special offers and promotions for the Bitcoin depositors.
When you make a deposit with Bitcoin, it will be converted to any currency that you want as long as the casino supports it.
Bitcoin uses very advanced security protocols so the transfer themselves are safe and secure. All you need to do is make sure that the online casino operator that you’re using to make deposits and withdrawals with Bitcoin is a trustworthy one.
The Bitcoin transactions go through in a blink of an eye, so you will have your money immediately to start playing without any delays.
There is also a great deal of anonymity associated with the Bitcoin, which is appreciated by many online players worldwide.
Bitcoin accounts are usually completely separated from any of your other financial accounts and household money transaction, so you can keep your casino spending totally independent.
Many players also enjoy the total control over their money, budget and spending using Bitcoin, so it is another plus that many casino players will appreciate.
Once you made your deposit with Bitcoin at an online casino, you will be able to enjoy a wide variety of casino games. Some casinos actually allow you to bet and gamble with Bitcoins; the others will exchange it for another currency that particular games support. So you can be sure that you will always have a decent selection of slots and classic casino games like Poker, Blackjack or Roulette when using Bitcoin.
Another fact to pay attention to when it comes to the casino operators that use Bitcoin is that they often have to prove that they do operate legitimate Bitcoin gambling environments and show that their games are Provably fair (PF). What it means is that the games the casino offers has a reasonable return to players and doesn’t have the odds that are set against players in an overwhelming manner. In our guide, you will find some great suggestions of the legitimate and professional casino operators that allow you to deposit with Bitcoin.
Bitcoin casino tips
When you are just starting out with Bitcoins, you need to remember that this currency doesn’t exist in real life and the money is stored entirely in Bitcoin online wallets.
Bitcoins are transferred between the users and/or operators and service providers via Bitcoin addresses. These are the secure series of letters and numbers between 27 and 34 characters. You can set up a Bitcoin account via a wide variety of apps and websites that you can download to your iOS or Android device as well as Mac, Windows or Linux computers. When you have Bitcoins in your wallet, you can immediately start playing at any casino that offers Bitcoin.
The last advice we can give regarding the Bitcoin is making an effort to understand the difference between the different types of Bitcoin wallets. There are three types of them in total.
- Online wallets (blockchain) are recommended for the new users. In this case, your wallet and Bitcoins in it will be stored by the third party online and backed up on the cloud-based storage.
- Software wallets (electrum) – these are the types of wallets that are stored entirely on your own computer. Therefore, you need to manually back it up on a regular basis. These wallets are geared more towards intermediate users and considered to be more secure than cloud-based but require more maintenance and attention from the user.
- Hardware wallets (ledger) are the most secure ones and require a special software that you plug into your computer via USB. This is one step up from the security point of view as your wallet can only be accessed when the USB is plugged in.
Bitcoin casino list
So far our only casino partner to offer Bitcoin deposits and withdrawals is Yako casino, but we are sure that there will be more online casinos introducing this option in the coming months. For now, we also suggest checking our list of the UK casinos that accept PayPal.