UK Bitcoin Casinos

Online Casino and the use of bitcoin

Bitcoin has fast gained popularity as one of the top buzzwords in the world of online casino. This trendy cryptocurrency is the latest craze, but it can be a complex topic to get your head around and fully understand. Luckily, we are here to help break down some of the confusion and answer your questions!

Introduced in 2008, Bitcoin is the very first form of cryptocurrency. This is a decentralized peer-to-peer network which is not controlled by a single entity – this makes it different from traditional banking systems. Nodes in the system are used to verify your transactions, and data is stored within the blockchain. Like any currency, Bitcoin is subject to fluctuations and changes, and it is important to understand these.

As well as online casinos, Bitcoin is also popular in blockchain only casinos, which are constantly growing in popularity.

Using Bitcoin at Online Casinos

One of the best things about Bitcoin is that it is super simple to set up and get started with. You first need to set up a digital wallet from the array of choice on the internet. Popular sites include Coinbase and Circle, and these help your buy and sell Bitcoin with ease.

You will need to purchase a certain amount of Bitcoin, and then head over to a casino which accepts this as payment – there are several available, and some are exclusively Bitcoin. The casino will then provide a wallet address, and this will need to be copied and pasted into your digital wallet to transfer the funds over. Once this is added into your casino wallet, you are ready to go!

Different Types of Bitcoin Wallets

Bitcoin wallets are simple to use, but it is important that you know the different types. The four most popular options are:

Online Wallets

These are the most common type and are the fastest and easiest options. They involve any third-party online wallet which can be accessed from your PC or mobile device. The downside is that they are quite susceptible to hacking and security breaches.

Hardware Wallets

These are stored externally on USB devices, such as flash drives. They need to be physically plugged into your computer to fund or withdraw your casino account. These types of wallets are beneficial as they protect your computer from potential viruses, and can act as a backup to a digital wallet while still being portable.

Software Wallets

These are installed on your mobile device or on your desktop and are only as secure as the device they are installed on. They take up quite a lot of disk space and so are rarely recommended.

Paper Wallets

As the name suggests, these have your public and private Bitcoin keys written on a piece of paper, and as such are totally secure – nobody can hack or access your data as it is totally off the grid. They are also great if you want to fund an online casino account on an occasional basis, and offer good old-fashioned security.

No matter which wallet you decide to choose, make sure your information is always safe and protected. This includes secure information such as software, usernames, and passwords, as well as any devices. Your cryptocurrency is only as safe as your device and data, so never leave any public or private keys lying about or easily accessible.

The Benefits of Bitcoin Payment Methods at Online Casinos

While cash and cards have long reigned supreme over online casinos, virtual funds definitely have their place and there are a huge range of advantages.

Anonymity

Payments which are made using cryptocurrency are totally anonymous, and individual transactions do not have any name attached to them. This means it is impossible for anyone to tell that you are funding your online casino account, and there are a range of steps you can take to protect your identity and ensure anonymity while playing at online Bitcoin casinos, including changing addresses and location which are stored.

Get around no-gambling rules

In areas where gambling may be banned or prohibited, Bitcoin is your new best friend. Cryptocurrency does not operate through the traditional banking system, and so cannot be regulated in the same way as tangible, physical currencies. This means it is perfect for using to fund your casino account in areas where a traditional currency will not be possible to use.

No transaction costs

Unlike traditional types of currency, Bitcoin does not charge you any additional transaction costs for processing your casino payments, meaning you get more for your money.

Cryptocurrency Payments at Online Casinos

Bitcoin is becoming an increasingly popular way to fun online casino accounts, and it is easy to see why. Many traditional currencies and credit cards will charge high amounts to process your funds, and will take their cut of the transactions so that you end up losing out and losing money, Bitcoin, on the other hand, does not charge any fees for either deposits or withdrawals, and has the added bonus of not being blocked by anyone – something which is a common risk when using bank accounts or credit cards to process your payments.

There is good news for casinos too; Bitcoin payments operate in much the same way as cash, and this means that there is no ‘chargeback’ which the casino may be liable for. This happens if a player disputes charges and requires a refund via credit card – a cost which usually ends up coming out of the pocket of the casino.

The anonymity is, of course, another benefit which comes with using Bitcoin as a payment method. Although the Blockchain will keep a ledger of every transaction, individual transactions are anonymous and you will only be traced in the case of absolute necessity, for example, as part of a criminal investigation.

Bitcoin transactions also tend to be faster, allowing you to get on with playing your favourite games faster or withdraw your winnings as soon as you need them. Again, casinos also benefit here – any payments they receive are instantly available. Do note, however, that ‘confirmations’ can slow down the process, depending on the policies of the individual casino. Some may opt to wait for the network to confirm a transaction a set number of times to prevent the same Bitcoin from being spent multiple times, and you will have to wait for the process to clear before your credits show up. Even if this happens, the delay is usually only between a few minutes and an hour.

The customer support team at your chosen casino should be able to give you information about how many confirmations are required before your deposit is accepted – this usually takes about 10-minute real time.

What You Need to Get Started with Bitcoin At Online Casinos

All you need to get started playing at a Bitcoin casino is an internet connection, Some casinos may also require a form of identification, just to prove who you are when you are setting up your new player account – this varies from casino to casino. It is a good idea to do some research to find the best Bitcoin casino or learn more about who accepts them – remember that all casinos will need to be regulated and licensed to be able to operate, so that is one less worry off your mind.

Making a Bitcoin Deposit

Any casino who approves Bitcoin will also have a helpful guide and FAQ section, which should go into great detail about how to get started – read these thoroughly if it is your first time, as they offer a wealth of crucial information about the nuances and differences between this casino and another.

With all casinos, you will first need to register with an online crypto wallet, and this will allow you to make online transactions using Bitcoin. You will have a code which can be used at online casinos, and will only have to create a username and password rather than handing over personal information every time you want to register.

When you get to the casino, head to the virtual cashier to choose Bitcoin as your preferred payment method. Once you have made your first deposit, your account will be credited in about an hour – from then, the casino is open to you and it is time to start playing!

Making a Bitcoin Withdrawal

The code which you use to credit and fund your online casino accounts also holds the key to withdrawing your winnings. Once the currency appears in your online wallet, you will have the choice to save it as Bitcoin or transfer it into online cash. Traditional payment methods can also be used to withdraw your funds as cash, and this is usually available immediately.

BTC Is Processed Instantly

One of the major advantages of Bitcoin is that the processing times are virtually instant, allowing you access to your favourite games or withdraw winnings within an hour or less. You can also skip the tedious identification and verification paperwork which is so often required for withdrawals, making the process quicker and easier. Withdrawals and deposits can be processed with equal ease, and this allows you to chop and change between casinos as you please rather than being restricted and confined to waiting for your funds to clear from a single casino.

FAQs

Bitcoin can be a confusing concept to get your head around, and it can sometimes be tricky to find casinos that accept Bitcoin. To help, we have put together a quick guide to help you get started and start enjoying cryptocurrency across your casino experience!

What is Bitcoin and how does it work?

Bitcoin is a form of cryptocurrency – a virtual or digital currency that can be used as an online version of cash. It can be used to purchase goods and services anywhere on the internet, including in the world of online gambling. Bitcoin casinos are still rare, but they are increasing in number every day.
Each ‘Bitcoin’ is essentially a computer file. These are stored in an app known as a digital wallet, which may be held on your computer or smartphone. Each transaction is recorded in the ‘blockchain; – a public list that allows the history of Bitcoins to be traced and tracked.

What online casinos take Bitcoin?

The number of casinos that accept Bitcoin is still fairly low but includes the following: 7Bit Casino, BitStarz Casino, BetCoin, SportsBet, BetCoin Poker, Betonline, Slots.LV, Bovada and CloudBet Sports. An increasing number of Bitcoin minimum deposit casinos are springing up, and it is important to check in with the Payment Methods page of your favourite casino to see if they have joined the group.

Do I need to open a wallet to start using Bitcoin?

Bitcoin is stored in a digital wallet, which is held on your smartphone, tablet or desktop.

How secure is using Bitcoin as a payment method?

Bitcoin is a perfect choice for players looking to remain anonymous online; though each transaction is logged, the identity of the participants is not.

How long does it take to process a Bitcoin Payment?

Bitcoin is a perfect choice for players looking to remain anonymous online; though each transaction is logged, the identity of the participants is not.

How long does it take to process a Bitcoin Payment?

It will usually take around 24 hours for a Bitcoin payment to fully process.

How fast are Bitcoin transactions with online casinos?

It will usually take around 24 hours for the casino to process your payment.

Is paying with Bitcoin at an online casino safe?

Bitcoin offers a secure and anonymous alternative to traditional payment methods.

What benefits does Bitcoin gambling provide?

Bitcoin allows you to place bets and enter deposits anonymously, helping to keep your online identity secure.

How do Bitcoins compare to other banking options?

Though still fairly new, Bitcoin is growing in popularity. At the present time, it can still be tricky to find stores and casinos which accept Bitcoin, but this looks set to change.

Will there be any fees with Bitcoin transactions?

One of the downsides to Bitcoin is that they tend to come with fairly high transaction fees, and this can eat into your potential profit.

Overall, Bitcoin can be a major benefit to anyone looking to boost their online casino experience and enjoy a faster, easier way to play.