Bitcoin Casinos

Although Bitcoin was launched in 2009, it has taken years for Bitcoin betting sites to actually rise up in significant numbers. Thankfully, there are now plenty of Bitcoin casino prospects to consider whenever you wish to play using the cryptocurrency:

Bit Casino

New players are treated to a match bonus that will enable them to many more of the 1,300+ games offered by Bit Casino.

LokiCasino.com

The next of the Bitcoin casinos is a place that will let new players claim free spins and up to 1,200 mBTC for sampling the hundreds of games.

mBit casino

mBit Casino enhanced the selection of Bitcoin casinos UK by letting newbies claim a 110% deposit bonus of up to 1BTC when joining.

MegaWins.com

Mega Wins can offer up to three deposit bonuses alongside access to special tournaments hosting games from the likes of BetSoft, Amatic, and Endorphina.

Oshi Casino

The last of the best Bitcoin casinos to recommend is Oshi Casino, where you enjoy BetSoft 3D slots after claiming a 100% match bonus and free spins.

How You Can Get Bitcoin

Bitcoin is a cryptocurrency that can be acquired through exchanging real-world currency. How Bitcoin differs from those is that it’s not run as a centralised currency by any nation or nations. It was traded as a digital currency and can be obtained as follows:

  • Sign up for a Bitcoin wallet: A Bitcoin casino can recommend a suitable option. Basically, this wallet is needed in order to successfully exchange the cryptocurrency. You can pick a wallet that runs from a website interface or one that works as an app.
  • Visit a Bitcoin exchange: These are marketplaces where you can exchange real-world currencies for Bitcoin. The process is completed using public and private address keys that securely encrypt the transaction using your Bitcoin wallet.
  • Deposit to a Bitcoin casino: You can use one of the examples given above. Simply sign up with the casino and then use your Bitcoin wallet to make a cryptocurrency deposit with the cashier.

How to Withdraw Bitcoin Winnings

The withdrawal of Bitcoin winnings works in quite a similar way to an eWallet, but it helps to be aware of the basics associated with the process:

  •       Meet your bonus obligations: After claiming a welcome offer, you must clear any wagering requirements and meet the minimum withdrawal threshold prior to attempting a withdrawal.
  •       Go to the cashier: You can then proceed by visiting the cashier/backing section and simply request a withdrawal. So long as you have met the required terms, you will be able to make a Bitcoin transfer to your wallet.
  •       Make a Bitcoin exchange: Once the Bitcoin funds are in your wallet, you can then go to your preferred exchange and convert the winnings into a real-world currency.

Frequently Asked Bitcoin Questions

Bitcoin is yet to become widely used among the vast majority of gamers, so it’s helpful to answer some of the most common questions out there.

Is Bitcoin Anonymous and Do I Have to Share Personal Information?

A Bitcoin casino is going to ask for your name, address, and other personal details. At the end of the day, Bitcoin casino sites are still licensed by remote gambling authorities that require for identity checks to be performed. However, you will not be asked to share sensitive payment information whenever depositing or withdrawing at a Bitcoin casino.

What is the Typical Waiting Time for Deposits and Withdrawals?

So long as you have Bitcoin funds in your wallet or casino account, it will be possible to complete a transfer in approximately 10 minutes. Ultimately, the most experienced Bitcoin users will aim to complete a maximum of six Bitcoin transactions in the space of 60 minutes.

How Can I Understand What BTC, mBTC, and uBTC Mean?

The realm of Bitcoin will raise an array of terminology and abbreviations that you will have to come to terms with. Among new users, BTC, mBTC, and uBTC are some of the most important to learn because they determine the valuation thresholds of funds:

  • uBTC: MicroBitcoin units (equivalent to one millionth of one Bitcoin)
  • mBTC: MilliBitcoin units (equivalent to one thousandth of one Bitcoin)
  • BTC: Individual Bitcoin units

Are There Any Pros and Cons of Bitcoin Casinos?

As a currency and payment method, Bitcoin offers a more varied option than many players will be familiar with. On balance, however, there are pros and cons to using Bitcoin at casino sites.

Strengths

When using Bitcoin, the strengths can outweigh the weaknesses that will eventually be discussed:

  • Personal and private keys: The use of codified keys means that players can securely complete transactions without submitting card details or login info.
  • Heightened security: Bitcoin has to provide mathematical evidence for the users involved, making the method more secure than just using encryption.

Weaknesses

After highlighting some of the core strengths, you can also consider the possible drawbacks that could impact your decision to use Bitcoin:

  • Transaction speed: Bitcoin is quicker than credit cards, but slower than e-wallets, what with the cryptocurrency limited to six transactions per hour. However, this can be offset by extremely low transaction fees.
  • Bitcoin acceptance: The cryptocurrency is yet to reach fully mainstream status, so you might not be able to use Bitcoin at your favourite casino.

How Bitcoin Compares to Alternative Payment Methods

Before embracing Bitcoin, it pays to compared it with some of the viable alternatives:

  • PayPal: The e-wallet gives you the ability to perform currency transfers from one location, whereas you need to have a Bitcoin exchange. However, you will need to use a debit card to avoid high PayPal fees.
  • Paysafecard: Security compares strongly with Bitcoin, but paysafecard is an eVoucher and is less convenient because you cannot complete withdrawals and will require an alternative payment method.
  • Boku: This method lets you deposit securely using your UK monthly phone bill, but Boku will not enable you to complete the withdrawal of your winnings, whereas Bitcoin can.

Bitcoin offers low transaction fees and superior security architecture at the casino sites that do accept the cryptocurrency, so it’s well worth trying out.

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