Tag: Bitcoin
Why do Minimum Deposits Vary with Deposit Method?
To get started playing at an online casino, you will first need to make a real money deposit. There are various deposit methods you can use, such as Visa, Visa Electron and Mastercard, eWallets like Skrill and Neteller, bank transfers, cryptocurrencies like Bitcoin and many more.
We have prepared a handy guide for you to understand the main payment options, why minimum deposits vary depending on the deposit method and other interesting information such as how to maximize your deposit. Remember that some transactions are free of fees and others aren’t, so always check the casino’s banking page to confirm what fees you will be charged.
The most useful suggestion we have for you is to check the gambling site carefully before you make a deposit. Read our detailed casino reviews and ensure that the casino you choose to play at utilizes the latest security software and safety features like SSL encryption to keep your personal and financial information safe. Our listed casinos have been carefully vetted for top quality online gaming and offer you all the best and most popular slots and table games, they are all licensed and regulated by a respected Authority so that you can safely deposit and play casino games.
How to Maximize Your Deposit
One of the best ways to maximize your deposit is to be sure to claim the Welcome Bonus and Free Spins offers. New players will always be offered a lucrative bonus and a set of free spins to welcome them to the casino. Playing with a bonus means that you can start playing with double your bankroll and the free spins will give you more bang for your buck. Armed with a Welcome Bonus and a free spins bonus will extend your gambling time so that you can play for longer and get more opportunities to hit the big wins.
Types of Deposits You Can Make At Online Casinos
There are various types of bonuses on offer for both new and existing players and these bonuses and promotions are nearly always associated with a real money deposit.
First Deposit Bonuses
Have a browse through our listed casinos and when you find one that gets your attention, head over there, register and make your first real money deposit to trigger the Welcome Bonus package. Every online casino will offer you some sort of first deposit bonus and whether you will need a Bonus Code to activate it or if you have to opt-in to claim it, a deposit will nearly always be the trigger to receiving the bonus and free spins. Every online casino is different and as such will offer a different type of Deposit Bonus. Typically, you will receive a 100% match on your deposit and free spins that can be used to play popular slots. Many casinos also offer Loyalty Points for the VIP/Loyalty Programme so that you get started with a rich reward. At minimum deposit casinos, you can deposit small amounts like $/€1, $/€5, $/€10 and $/€20, while at other casinos your deposit can range from $/€20 up to $/€50 or more. Always read the casino’s Terms and Conditions so you can find out exactly what your bonus and free spins entails, how long you have to fulfil the Wagering Requirements and other important rules relating to your bonus.
Reload Bonuses
Reload bonuses are offered to casino players that have already deposited at an online casino. It’s an incentive for the player to make regular deposits and claim something back for it. Reload Bonuses are triggered by a deposit and in most cases, the player can enjoy a free bonus and several free spins for popular video slot games. Every Reload Bonus comes with certain specifications so always check the unique details of the bonus before claiming it. You will find all the relevant information in the Terms and Conditions or contact the customer service team via the live chatbox.
Free Spins Bonuses
Very often online casinos offer Free Spin Bonuses where you can play some new slot games on the house. No Deposit Free Spins Bonuses are very procured online as they allow players to register a new player account and immediately receive a set of free spins at no charge. The casino could offer 10 or 20 or more free spins that can be played on a top slot game and the winnings can be withdrawn after the Wagering Requirements have been met. As soon as your free spins bonus has been played, you will need to deposit to continue playing casino games online.
Online Casino Deposit Methods
The good news is that making your first real money deposit is easy to do. It isn’t any different than buying something online. You can add funds to your casino account via a trustworthy banking provider and once your payment is made, your deposit is instantly available. For withdrawals, select the same banking method you used to make your deposit and your money will reach you in a few hours up to a few days. But what payment providers can you expect to find at an online casino?
Credit Cards and Debit Cards
You can fund your casino account by using debit and credit cards Visa and Mastercard. At online casinos, Visa and Mastercard have become the most popular way to fund a casino account, and while some sites accept American Express and Maestro, they are less common. Online casinos are all different and operate according to a different set of policies. When transacting with Visa and Mastercard, many casinos will impose a minimum deposit limit of between $/€5 and $/€10 because of the fees that come along with using your credit or debit card.
Electronic Wallets
Another popular way to fund your casino account is with the use of eWallets. An eWallet is a storage banking method that is used to store your funds, which can then be spent online or transferred to your bank account. Making your deposit with an eWallet provider is a very handy way to transact at online casinos. It’s an easy and convenient way to make your deposits without constantly having to withdraw from your bank account. The most popular eWallet is PayPal, but it isn’t the leader when it comes to online casino gaming as its services are only allowed at casinos in regulated jurisdictions. However, there are other eWallets available that offer similar options for a much wider variety of gaming sites. Neteller, Skrill and ecoPayz are three of the most popular eWallets that offer low or no fees, complete security and anonymity. Minimum deposit casinos always offer a selection of eWallets as they allow players to make small deposits, even as small as $/€1. Withdrawals are processed very quickly and players can get their money back in 1 to 2 days. Be aware that at some online casinos eWallets cannot be used to trigger a Welcome Bonus.
Online Banking
It is also possible to fund your casino account by using your bank account. This can be done with a wire transfer or a bank transfer or even with an eCheck. Online banking is normally regionally designated, in other words, players from New Zealand and Australia can use PoliPay, while Portuguese players can use Multibanco. Using your bank account to transact online is quick and convenient and offers complete security as the payment is made directly by your bank. Deposits are instant but withdrawals take a little longer to reach your account, count on between 3 to 7 days.
Prepaid Cards
For players that want to avoid sharing their financial information, exposing their credit cards online or making their deposits with their bank accounts, prepaid cards offer a good alternative. Players can purchase cards like PaySafeCard that are already pre-loaded with different amounts, and after depositing whatever is left on the card can be used the next time you log into a casino. The best examples are PaySafeCard, that uses a secure 16 digit code and Ukash, a voucher system that uses a 19 digit code. PaySafeCard can be used at minimum deposit casinos as players will be able to make small deposits and still claim a Welcome Bonus and free spins.
How to Make a Casino Deposit
Before you can deposit, you will need to set up a casino account. The online casino will ask you for your personal and financial information, the currency you wish to play with and your preferred banking method. The casino will also ask you to confirm that you have read the Terms and Conditions. Once your new player account is verified you can deposit at the cashier. To deposit for the first time, the casino will ask you for additional information such as a copy of your identity document, but this is a once-off thing. For withdrawals, select your banking provider from the dropdown list at the cashier and enter the amount you wish to withdraw. If the casino processes all withdrawals instantly, expect to get your money back within a couple of hours for eWallets and with debit and credit cards, your money will reach you in a few days, up to 7 days for Bank Transfers. The fastest way to deposit and withdraw is via cryptocurrency. Using Bitcoin or another crypto means getting your money back within minutes.
How Low Can You Go with These No Minimum Deposit Casinos?
Freedom of choice is a wonderful thing and being forced to deposit more than you want to because a casino has minimum deposit limits as high as $/€20 can be off-putting. If you were planning on making an upper-range deposit, then limits may not bother you, but if you prefer to have complete control over how much or how little you deposit, a casino that has more flexibility in its deposit limits may suit you better. We’ve heard of $/€1 minimum deposit casinos, but if you really want to deposit less, how low can you go? We’ve compared several minimum deposit casinos to find out.
Advantages Of No Minimum Deposit Casinos
There are several advantages to choosing a casino that has very low, or no minimum deposit restrictions.
- Casinos that have no minimum deposit limits tend to have a wide variety of payment methods. It is very rare to find a casino that supports Visa and Mastercard only, that also allows a $/€1 minimum deposit. Flexibility is a philosophy, and it tends to make itself obvious in the range of choices a casino offers.
- You have full control of your deposit amount. You do not have to deposit more than you had planned simply because the casino will not accept a low deposit. A low minimum deposit casino takes the whiff of elitism out of online gaming. Anyone over 18 can play, at any price range.
- Making a very low deposit is an excellent way to test the functionality, games and support system that an online casino offers, without making a big financial commitment. If you are wary of trying a new casino, or if you are a new player and not sure how an online casino functions, making a low deposit and testing the platform is the best way to start, with the lowest possible risk.
- If you can find a casino that offers bonuses on small deposits, you can double your deposit (depending on the welcome offer) and extend your playtime. If you are playing games with low stakes, you could build up a reasonable balance from just a small deposit, if luck is on your side.
Some Of Our No Minimum Deposit Casinos
Our website specialises in finding casinos in various different minimum deposit categories. We have found several highly rated casinos that will allow you to make the smallest possible deposits to give you access to a wide selection of quality casino games. In some cases, the lowest minimum deposits will be linked to a particular payment method, while in others you have a range of payment options. Generally, a low minimum deposit will not earn a welcome bonus, but you can find some casinos that will give you a boost on your deposit. Here are some of the best low deposit casinos we have found for you.
22Bet Casino – Get a Bonus with a $/€1 Deposit
22Bet is a vast gaming platform that provides you with a full sportsbook to bet on a wide range of markets, and an impressive casino where you can play a huge selection of slots, table games and Live Casino games. In line with this concept of abundance, 22Bet gives you a long list of payment options that you can use to fund your account… and most of these options allow minimum deposits of $/€1.
Aside from its impressive game list and sportsbook, what makes 22Bet outstanding is the fact that the casino will give you a 100% bonus on your first deposit, even if you deposit $/€1. There is no lower limit to the bonus eligibility. You can choose to claim the 100% welcome bonus for sports betting, which will give you up to $/€122, depending on your deposit amount, or you can claim the casino welcome offer, which will give you up to $/€300 on your first deposit.
If you play casino games or follow sports on your mobile, 22Bet has an excellent mobile app to make your gaming more convenient. The website will adjust to functioning as a mobile casino in your browser if you prefer.
Gaming Club – No Lower Limits with Paysafecard
Gaming Club is a classic Microgaming casino, so you can expect an excellent collection of slot games with the software provider’s trademark bonus features and range of themes, from vampires to blockbuster movies. You can play a variety of poker, blackjack and roulette games in the online casino format, or you can enjoy a touch of real-world authenticity and play with a real dealer in the Live Dealer section. The casino offers a welcome package that could get you up to $/€350 over your first two deposits, but you need to deposit at least $/€10 to qualify for the 100% deposit match bonuses.
The minimum you can deposit at Gaming Club depends on the payment method you choose. If you use Visa, Mastercard or Maestro, for example, you need to deposit at least $/€10. If you prefer Skrill, Neteller or Echeck, you can deposit $/€5. If you use Paysafecard to fund your account, there is no minimum. You can deposit as little as you want.
Casino Z – Deposit $/€1 with Most Payment Methods
If deposit flexibility if what you are looking for, then Casino Z is an excellent choice. It has multiple payment options, from Visa and Mastercard to cryptocurrency. You can fund your account with a variety of web wallets, bank transfer methods, pre-paid cards, or even self-service terminals, depending on your location. The minimum deposit for most of these payment methods (including debit or credit cards) is $/€1.
Casino Z is a user-friendly gaming platform with an intuitive layout and simple navigation. Don’t let the simplicity deceive you, though – there are well over 5000 casino games in its impressive collection. The casino offers a range of slot and table games, including progressive jackpots, dice, lottery, cards and 3D games. There’s a full Live Casino that offers casino classics like blackjack and baccarat with a real dealer. You can also play in tournaments of you enjoy competing against other players.
Casino Z has a very generous welcome package. You could get up to $/€1500 and 150 free spins over your first four deposits. To trigger the first bonus, you need to make a minimum deposit of $/€10. This qualifying amount increases to $/€15 to access the rest of the welcome bonus package.
Best payment methods for no minimum deposit casinos
Although some of the low deposit casinos we found can accept $/€1 payment from Visa and Mastercard, using your credit or debit card might not be the best way to fund your casino account. When you wish to make a withdrawal, the processing times can vary from a few minutes to an entire week. Other payment methods tend to take around 15 minutes to complete your transaction. Some banks may block any transactions from a casino, so to avoid frustration and long waiting times, it’s a good idea to think about alternative payment methods.
Paysafecard
Paysafecard is a pre-paid card that works like a voucher system. You can buy a card at any land-based or online outlet in various denominations. You will receive a 16-digit pin code that you use in place of credit card details. It is one of the safest methods to perform a financial transaction online as you are not sharing any banking details with the casino. You can create a Paysafecard account for extra convenience.
Paysafecard is widely available as a payment method at online casinos. The only negative point about Paysafecard is that you can’t use it to make a withdrawal from most casino accounts. Because many casinos insist that you use the same method to process a withdrawal as you used to make a deposit, you might need to transfer more funds to your account with a different payment method if you want to withdraw your funds. However, if you are testing a casino and are unsure about its privacy or security policies, Paysafecard is one of the best methods to use.
Bitcoin and other cryptocurrencies
A few years ago, playing casino games with cryptocurrency was not possible, but as digital currency exploded in popularity, the online casino industry took note. Due to the nature of the transactions, playing in cryptocurrency is one of the best ways to preserve your online privacy, and it offers much more flexibility than conventional payment methods. As more casinos adopt this payment type, you will be able to enjoy lower minimum deposits and almost unlimited withdrawals at more online casinos. At the moment, there are numerous casinos that specialise in cryptocurrency payment methods, particularly Bitcoin. This number will grow as more casinos and players begin to understand the value of using this funding option.
EcoPayz
If cryptocurrency or pre-paid vouchers don’t appeal to you, a different payment system may be a better method for you to make the lowest possible deposits. Although EcoPayz is supported by a number of online casinos, not all of them allow you to make a small deposit with this method – but it is possible. You can deposit as little as $/€1 with EcoPayz at Casino Z. Deposit transactions will reflect instantly, and there are no service charges.
EcoPayz is a payment solution that allows for the safe and convenient transfer of funds worldwide. You can make ATM withdrawals and spend your funds abroad if you wish. Based on a contactless card system, you simply apply for your EcoPayz card when you set up your account, transfer funds to your account, then use your card to make deposits and withdrawals from your casino account. You will never need to share your personal banking details with the casino. This payment system is available in 8 currencies and is highly rated for both ease of use and security.
New Legislation for GBP casinos in UK
A group of influential British politicians have proposed the most radical change of gambling laws at GBP Casinos in 15 years. One of their recommendations is that an all-party group study the harms of gambling and reduce the maximum slot stake to £2. They also focused on payment methods to fund accounts and withdraw winnings, and have proposed restricting the use of credit cards to fund casino accounts. No mention was made on other payment methods such as:
Published recently in a leading newspaper, the Guardian, the government announced that the all-party parliamentary group (APPG) suggested making core changes to the online gambling market. In an area that’s already shrouded with rules and regulation, the subject of problem gambling was put under the spotlight. A report that took six months to compile outlined the dangers of online gambling and gambling in general. The report was backed up with evidence gathered from online operators and personal interviews with problem gamblers.
The strongest protesters were Ian Duncan Smith, a popular legislator in the UK and Carolyn Harris, Home Office Minister at Labour’s Shadow. They reminded parliament that similar changes had been made last year with the lowering of the maximum stakes allowed at fixed-odds betting terminals from £100 to £2, despite warnings from the betting industry that many outlets would close and jobs would be lost.
Changes in Casino Payment Methods
The report in The Guardian went on to say that the parliamentarians also proposed putting an end to the use of credit cards to fund online gambling. The other area under the spotlight is VIP accounts at online casinos and the article confirmed that tighter restrictions would be imposed on casino VIP accounts. The report revealed that high roller players could potentially accumulate huge debt because of enticing offers like tickets for exclusive events and free bonuses. The Guardian suggested that before online gamblers would be allowed to play their favourite online casino games, they’d have to undergo obligatory checks for affordability. In a recent interview, Harris added that reducing prize limits and stakes is the first step forwards. She also expressed her confusion about the lack of interest from the Gambling Commission and condemned the regulatory body as being irresponsible.
The British online gambling market is massive and with these new reforms, there’s a lot at stake. It’s a fine balancing act finding the most effective ways to regulate the market, protect the more vulnerable while at the same time not scaring off investors, casino, and sportsbook operators. Online gambling remains one of the main areas not perfectly regulated, but as the eyes of the world turn back on this form of entertainment, things are soon bound to change.
Up until now, online casinos have 72 hours to carry out age verification checks before players can withdraw their winnings, but the new rules propose that before clients can fund their account and gamble online, either with real money games or free-play, their ages must be verified.
In a recent press release, Neil McArthur the Gambling Commission CEO confirmed that the drastic changes were being made to protect children and the vulnerable from gambling-related damage and reduce the risk of gambling related crimes.
Online Casino Payment Methods
Moving money securely and speedily is a key factor to the enjoyment of online casino gaming. You’ll want to fund your casino account easily and transfer your winnings quickly. The payment provider you choose depends on a variety of priorities, but with the recent suggestion by British Parliament to not allow credit cards to be used to fund accounts, players have to re-think which method to use. Popular providers such as PaySafeCard,Skrill, Paypal and Bitcoin used at GBP Casinos have many advantages associated to them. In our article we’ll look at what they are.
Skrill used to be known as Moneybookers and both back then and now is still one of the fastest, secure and most affordable way to fund your casino account. Available in over 200 countries and in over 40 currencies, Skrill is being used the world over to fund online shopping and online gambling. It falls under the group of electronic wallets or eWallets, as they are referred to. This is because Skrill can digitally house multiple payment methods including credit cards, debit cards and cash in multiple currencies. One of the greatest benefits is how easy it is to get started with Skrill! By completing an account registration process at the Skrill website is the first step to funding this popular eWallet system. You’ll be asked for your personal information to verify your identity and you’ll also be asked to choose a password and enter a few additional security questions. The final step is to link your Skrill account with your bank account, debit or credit cards for easy deposits free from costly fees.
Skrill offers complete protection as it’s said to be one of the most secure eWallet available today. When using Skrill to make your deposits at online casinos, there’s no need to expose any of your bank account or credit or debit card information. Transactions are anonymous.
Skrill is also associated with very low fees and in fact most online casinos now process Skrill deposits fee from any fees. Once your Skrill account is up and running your deposits will be instant.
PaySafeCard
PaySafeCard isn’t exactly a card in the way we’ve become accustomed to using payment cards, it’s more a convenient e-voucher system that can be topped up to fund your casino account. PaySafeCard is a prepaid system based on vouchers and loading the card doesn’t need bank account information nor any credit card information.
When you use PaySafeCard to fund your casino account, you can rest assured that the voucher company uses the highest SSL Socket security standards to protect your information. Many players enjoy minimum deposit casinos and Skrill is perfect to fund even the lowest deposits. Casinos use sophisticated 128-bit Secure Socket Layer connections to keep your money details secure but using PaySafeCard as your funding choice keeps things even more secure.
PaySafeCard makes use of a multi-layered security PIN codes. Every PIN-code is generated by the system and is completely unique meaning that you can only use the voucher once. This offers a perfect way to ensure that no one can steal your PaySafeCard information.
Another very useful benefit about using PaySafeCard is that the mobile application allows you to keep on eye on how much is left on your voucher, and you’ll never have to worry about going over budget or overspending.
Bitcoin
Bitcoin casinos are becoming the new preferred way of funding online casino accounts. The term Bitcoin casino refers to any online casino that accepts Bitcoin, a form of electronic cash or cryptocurrency. Bitcoin is digital currency that works from a central bank and can be sent from user to user on a peer-to-peer Bitcoin network. In recent years, several Bitcoin casinos have surfaced offering players tailor made casino games and other services like funding their account in Bitcoin as opposed to fiat currency such as the UK Pound.
The greatest advantage of using Bitcoin is that no third party is ever given access to your personal and financial information. Many countries are yet to fully regulate online gambling and as a result players need alternative payment methods free from complications. Bitcoin is by far the best option. Transactions are not processed via a bank and with Bitcoin, players don’t even need to link their debit and credit cards to fund their casino account.
Bitcoin deposits and withdrawals are instant and not subject to taxes and bank transaction fees. This makes it the number one choice for players that want to get funding their account over with quickly, and get down to the business of playing casino games.
Minimum Deposit Casinos
As online casino gaming has continued steadily growing, gaming operators have had to come up with new and exciting ways to attract players to make real money deposit at their casinos. Until recently the lowest minimum deposit of £20 and more but many low stake players didn’t want to participate as they felt the deposit was too high. At some online casinos today you can make the lowest deposit possible of £1 and still qualify for a Welcome Bonus!
If you enjoy playing casino games on the go from your iPhone, Android or tablet or from your desktop but don’t want to invest too much of your money, then we have good news for you! We list a large selection of minimum deposit casinos! Follow our links for the best £1 deposit amounts, £5 deposit amounts, £10 deposit amounts and £20 deposit amounts. Head off to our UK home page and you’ll find some other great articles and reviews, have a read and get caught up with news, reviews and the best online gaming on the internet.
Betting Shares Fall After MP’s Call For Online Gambling Limits
A group of influential Ministers of Parliament recently proposed radical changes that could affect gambling as we know it. To combat what they called “a public health crisis” of gambling addiction, they called for a reduction of the maximum slot stake to $/€2. This has not been taken well by the industry. Following their decision to re-structure online gambling, shares in Britain’s biggest betting companies such as:
- Ladbrokes
- Paddy Power
- William Hill
- 888 Casinos
Their most urgent recommendation was to bring the maximum slot machine stakes down to the same level of fixed odds betting terminals. According to the Gambling Related Harm All Party Parliamentary group, slot machines are the crack cocaine of gambling and making them less lucrative could help players curb their addiction. In a recent press release they stated that there is no justification for players to stake anything over $/€2 for slots. They further advised that the way slots are right now, players can easily stake thousands of Pounds in a matter of minutes and not even realise it’s happening.
Labour MP for Swansea East and APPG chair, Carolyn Harris, called the gambling industry an unregulated wild west. She stated their intention to target slots and make radical changes as they did earlier this year. In April 2019, the maximum stake for fixed odds betting terminals were slashed from a maximum stake size of 100 to just $/€2. Since then, betting companies have sought growth in online revenues and in the three months following their drastic stake cuts on FOBTs, same-store revenues for UK retail business betting group GVC fell. GVC owns prominent sportsbook and casinos such as Ladbrokes, whose shares fell 18%. William Hill and Paddy Power shares fell 12.5% and 888 Casino Holdings saw a drop of 13.9%.
Members of Parliament re-iterated that reducing the maximum online gambling stakes to $/€2 would force gaming enthusiasts to spend less and stop them chasing their losses by doubling up significant sums with each successive bet.
With smartphones these days being the most popular way to play online casino games, the amount of money earned from online gaming increased from $/€1.2bn in 2007 to $/€5.6bn in 2018. This is unacceptable for MP’s who also criticized the Gambling Commission for not having looked into maximum betting stakes online. The Gambling Commission answered back by expressing their dissatisfaction at not having had the opportunity to give evidence to the APPG before the report was published.
Kenny Alexander, chief executive of GVC, said in a statement that over regulation does more harm than good. She further explained that these measures could lead to an increase in problem gambling as clients will be forced to move away from responsible, regulated casinos and play their favourite casino games through the black market. William Hill confirmed that a flat $/€2 stake is more likely to push players into unregulated sites.
Changes in Casino Payment Methods
A recent report in The Guardian informed that parliamentarians also proposed putting an end to the use of credit cards to fund online gambling. Moving money securely and speedily to play online casino games is one of the key factors to enjoyable online casino gaming. Players like to know they can fund their casino accounts easily with a variety of casino payment methods and transfer their winnings quickly back to their accounts. With recent suggestions made by British Parliament to not allow credit cards to be used to fund accounts, players will have to re-think which banking methods to use. Popular providers such as:
have many advantages associated to them and although credit cards might soon be removed from the available payment methods list, there are plenty more on offer!
Changes to VIP Perks
The other area under the spotlight is VIP accounts at online casinos. The article went on to say that MP’s will be targeting tighter restrictions for VIP accounts. Their attempts at reducing gambling addiction focused on the fact that high rollers can potentially accumulate huge debt because of the enticing offers casinos make to their VIP players. Exclusive tickets to concerts and sports events, free bonuses, regular offers for Free Spins and other cash bonuses are seen as ways to pull the gambler in and make them an offer they can’t refuse. According to the Guardian, suggestions have been made for VIP gamblers to have regular checks made on them such as obligatory checks for affordability, but it remains to be seen whether this will be instituted or not.
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.
Bitcoin Casinos – How Safe Are They?
Some industry watchers believed Bitcoin and online casinos are a match made in heaven; the reason at a closer look is not far-fetched.
You see, the gambling industry has struggled for a long time to get rid of a long history smeared in bad rep and publicity. And players over time have learned to seek out discreet, secure and safe gaming houses to satisfy their itch.
So, it is not surprising that the gaming industry was the first couple of businesses to adopt Bitcoin and its underlying Blockchain technology in their operation.
Now with several casinos running on Blockchain technology players can be safe in the knowledge that their personal information, transaction histories, and banking details are secure, encrypted, and anonymous.
What is a bitcoin casino?
These are new generation online casinos that rely on Blockchain technology and cryptocurrency such as Bitcoin to handle deposits and withdrawal on their platform.
In other words, the player has to fund their account using digital currency and also withdraw their winnings as a cryptocurrency. No need for fiat currencies, no need for financial houses.
This obviously benefits both the operator and gamer. One of such benefits is the elimination of transaction fees.
Now, for online casino operators using traditional payment platforms, they often pay a transaction fee for each transaction conducted on their system; these extra charges are often shifted to the final gamers.
Compare that to the Bitcoin casinos with little to no transaction fees. The operator can offer more enticing mouthwatering perks like improved welcome bonuses, side freebies, and the player doesn’t have to pay any transaction fees too.
Another attractive feature of a bitcoin casino is the opportunity for anonymity. You see, when a player decides to enjoy a game on conventional online casinos, they are often required to fill in personal details like banking information, names, contact addresses, and perhaps other personal identification information.
That’s not the case playing a bitcoin casino; you are only required to provide an email address that way your privacy is protected.
That said it is essential to note that you’re likely to encounter any of these three types of bitcoin casinos online.
One, there’s the full bitcoin casinos – these allow you to play anonymously with Bitcoin as currency only. They don’t have options for other payment methods.
Then, there are the hybrid online casinos – these lists bitcoin as one of the payment options available. You can deposit, play, and withdraw using the digital currency.
Finally, there are the online casinos that accept bitcoin deposits then convert it to fiat currencies to play with. They don’t support Bitcoin withdrawal.
But, how does bitcoin casinos work?
Just like traditional casinos, a bitcoin(BTC) powered casino needs a system to handle and process its transaction; and a medium to accept deposits.
However, instead of the regular fiat currencies – think: dollar, Euro, Yen, pounds, get the idea? The platform uses digital money but in this case, Bitcoin.
Also, most bitcoin casinos, especially for those with a large user base, operate the self-developed software. These programs manage and run the game, even taking on the role of dealers for all-human games.
Are they safe?
Be rest assured, your private information is safe and also your activities are anonymous. However, concerns exist about whether bitcoin casinos are fair or not; this arises from the fact that both the operators and users are anonymous and can hardly be tracked.
To address the challenge of fairness, build trust and show transparency, most of these operators publish how their algorithm works and how the random number generator operates – this way anyone that cares can run a check on the website.
In conclusion
Digital currencies have come to stay, and with the rave for foolproof security measures online, businesses including online casinos will have no choice but to adopt or integrate the technology with their platform.
For players searching for a bit more discretion, Bitcoin casinos offer the best option
If you aren’t fully convinced with Bitcoin as a method you want to use take a look at our other casino payment options here.