Volatility of Bitcoin: How your Winnings could double in value in a short space of time
When it comes to finding the best payment methods to use on online casinos and other betting sites, there is a huge array of choices. From credit and debit cards to e-wallets, there are plenty of options, and you can choose the best fit for your needs and lifestyle. There is one method in particular, however, which has been growing in popularity recently: cryptocurrency, and especially Bitcoin.
Bitcoin is a type of currency which is digital and totally virtual. Itis essentially a version of cash which is entirely online, and can be used to purchase products or sign up to services – including online casinos.
Bitcoin may seem complicated, but it is actually a pretty straightforward concept, and you will find plenty of guidance on any Bitcoin payment method page. Every Bitcoin works in a similar way to a computer file, and are all stored in a digital wallet, which may live on your computer or smartphone. Consumers are able to send Bitcoin, or parts, to the wallet, and they can be traded between users. Each transaction is recorded on the ‘blockchain’ – a public list that allows you to trace the entire history of Bitcoins. This prevents people from making illegal copies, undoing transactions or spending coins they do not have.
There are three main methods for getting your hands on Bitcoins; they can be purchased using real money, accepted as payment for goods or services, or created using a computer.
There is a huge range of benefits to choosing Bitcoin, and the primary one is security. The blockchain means that every single Bitcoin is a public record; there is no way you can be a victim of fraud, or spend any currency you do not possess. Making transactions via Bitcoin is also anonymous, and a perfect solution for anyone looking for a more discrete method of making transactions.
While every Bitcoin interaction is a matter of public record, this list does not include any identities, such as names, addresses or other financial records.
Bitcoin-friendly Casinos with amazing bonuses
It can still be difficult to find a casino that will accept transactions via Bitcoin; it is still fairly niche, though the popularity is increasing every day. There are two main casinos that are often name-dropped with regards to cryptocurrency; Playamo and Bitstarz; both popular sites with plenty of the top games and titles to choose from.
- Bitstarz Casino
Bitstarz is a site which really embraces Bitcoin, and includes this in their welcome offer; any Bitstarz Review will include it! The first deposit you make will see you grab a 100% match bonus up to 5BTC, as well as a whopping 180 free spins to spend on Wolf Gold, Boomanji or Fruit Zen. The first 20 spins will be added to your account 23 hours after you make your initial deposit and another 20-24 hours later. This continues for 9 days until you reach the grand total of 180.
The second deposit you make sees you grab a 50% bonus up to 5BTC and this is instantly credited to your account. This is a great way to really boost your initial deposit, helping it to go as far as possible and giving you the chance to totally explore the casino in all its glory before you decide whether to commit.
- Playamo Casino
Playamo is another big name in the world of the Bitcoin Casino, and any Playamo Casino Reviews will be sure to hype up this important aspect of the site. New players can enjoy a $/€100 welcome bonus, with a 100% match bonus up to $/€100, plus 100 free spins. While this deal may not be as Bitcoin focuses as Bitstarz, but they nonetheless accept this cryptocurrency as payment and remain one of the few sites to do so.
Verdict
Bitcoin may not be the most popular payment method, but it is certainly something that is worth examining and exploring if you are looking for an alternative to typical credit and debit cards or eWallets. This is a way to enjoy a secure and anonymous payment system that takes care of transactions without requiring extensive financial information and details.
The number of casinos that are starting to accept and embrace Bitcoin is on the rise, and you only have to Google the term to embrace a ‘how to deposit $1 in Bitcoin article.’ They are super popular for low deposit casinos and can be a great way to add a little spice to your casino experience, offering all the perks that cryptocurrency can bring.