Bitcoin

As part of our ongoing series of casino deposit options guides, the following guide will enlighten you on how you can use Bitcoin as a banking method at several different online casino sites.

Much like all other deposit and withdrawal options you are going to find both pros and cons in regards to using Bitcoin, and be reading through this guide you will be able to make an informed decision as to whether it is going to be a banking option you may wish to use.

One of the most important aspects to you deciding to use Bitcoin as your preferred banking option is that you are going to be given access to just as many bonuses when using this banking method as you will have available when using any of the more standard casino deposit options.

The types of bonuses you can claim are wide and varied, but the vast majority of them will be deposit match bonuses. Player comps will also be on offer at many Bitcoin accepting casinos and as always is the case it will be the volume of wagers that you place that will determine just how many comp and loyalty points you will earn.

What is Bitcoin?

Bitcoin is one of several brand new currencies, however unlike all other currencies it is a completely digital currency, which is both held and created electronically. Bitcoin is not controlled by any one single entity nor is it backed by a government and nor is it backed by any precious metal such as gold.

The one main advantage of using Bitcoin is that anyone is able to send funds to anyone else completely anonymously but more importantly in a completely safe and secure way.

Due to Bitcoin being an anonymous way of sending money online many online casinos now offer their players the ability to sign up to their sites from anywhere in the world and both fund and make withdrawals from their account using Bitcoin.

There are only ever going to be a maximum number of Bitcoins in circulation and as such you will often find much like any other currency of the world the actual value of Bitcoin can both increase in value and fall in value several times during the day or night.

However, you are going to be able to exchange any currency of the world into Bitcoin and when doing so you should shop around for the best rates possible as they can and will vary from Bitcoin Exchange to Bitcoin Exchange.

How to Use Bitcoin

If you are interested in using Bitcoin then you will first have to get yourself something known as a Bitcoin Wallet. This is a small piece of software that resides on your computer or on any type of mobile device in which you are going to be storing your virtual Bitcoins. Examples of wallets are Armory and Multibit.

Once you have got yourself a Bitcoin Wallet you will then need to purchase Bitcoins and have them sent into your wallet. You will need to visit one of several different Bitcoin Exchanges like Coinbase and Bitstamp where you are going to be able to buy Bitcoins using lots of different banking options, and once purchased they are then sent instantly into your wallet.

To be able to send funds directly into any online casino site that accepts it as a banking option you simply need to send your Bitcoins to their Bitcoin Address, that process is done instantly and as such your credits will reflect in your casino account in real time.

One question that we do get asked a lot is in regards to just how many different casino game you will have access to when playing at a casino offering you the ability to deposit and withdraw using Bitcoin.

There are admittedly some casino sites that will let you access a range of proprietary games when you utilize their gaming platforms, however quite a number of the newer Bitcoin accepting casino sites are launching gaming platforms on which you will find games from all of the major suppliers.

As such when accessing those sites gaming platforms you are going to find games you know and may have played before and will certainly never have any doubts as to the fairness or randomness of those casino games.

If you do fancy playing at a casino at which you can deposit and make a withdrawal using Bitcoin then please take a good look around our website as there are several sites listed, all of whom offer plenty of casino games and there are also plenty of high valued bonuses waiting to be claimed.

Bitcoin Fees

It will all depend on just which casino site you are logged into in regards to whether those sites are going to be charging you any additional fees when topping up your casino account balance with Bitcoin.

You will find that most if not all of the larger online casino sites will never charge you anything to deposit into your account or when you request a withdrawal from that account. However, always do pay careful attention to their banking pages on their websites which is where you will always find all of the information you require.

If you need to buy Bitcoins to add to your Bitcoin Wallet then by using the services of a Bitcoin Exchange there will be some fees and charges associated with turning one currency into Bitcoin. Once again, you need to shop around for a reliable Bitcoin Exchange but one that has the very lowest processing fees.

You will of course also be able to turn your Bitcoins into your own home currency by using the same Bitcoin Exchange as you used to buy your Bitcoins with and those funds can be transferred to you via several different methods.

Bitcoin Minimum Casino Deposits

One thing that you will need to be aware of is that you will find you are not going to be forced to make a deposit of one Bitcoin, but you will be given the option of making a casino deposit using one of the many different fractions of Bitcoin.

There are two different ways that a casino site is going to credit your casino account when using Bitcoin as your preferred banking option. Some sites will credit them as Bitcoins and as such the unit of currency you will be playing with at those sites are Bitcoins.

However, when you make a deposit into some other casino sites you are going to find each Bitcoin at those sites is worth a certain number of casino credits. So for example if you deposit one single Bitcoin into such an account you may be credited with 1000 casino credits.

Deposit half a Bitcoin will see you being credited with 500 casino credits and so on. When you make a withdrawal from those casino accounts you will get the same exchange rate on your casino credits to Bitcoins as you did when you make a deposit.

So for example if you cash out 5000 casino credits after having had a winning session the casino will convert those credits into 5 Bitcoins and send them back to your Bitcoin Wallet.

Bitcoin Casino Withdrawals

You may have had to put up with slow and long drawn out withdrawals when you have requested any cash out after having a winnings session at some online casino sites.

However the main advantage of you opting to use Bitcoin is that all deposits as well as withdrawals are instant made by most Bitcoin accepting casinos sites. As such you will find that as soon as you have clicked on the withdrawal button your winnings will be sat waiting for you in your Bitcoin Wallet.

One additional benefit is that as you are going to be able to sign up completely anonymously at most casinos that accept player deposits is Bitcoin you are never going to have to send those casino sites copies of your identification documents.

Many players hate having to send in their personal documents, more so with the increase in identity crimes. So this is certain one casino banking option that you should seriously consider using if you are seeking a reliable and 100% safe and secure casino banking option.

One final aspect to making a withdrawal via Bitcoin is as the value of Bitcoin when compared to all other currencies fluctuates all of eh time you may find that by requesting your withdrawal at the right time, when Bitcoin is at a favourable exchange rate with your own home currency the actual value of your withdrawal increases.

So by making a withdrawal back to your Bitcoin Wallet at the right time and then exchanging your Bitcoins into your local currency you make end up with more money than you actually won and withdrew!

If you do require any casino specific information regarding how to use Bitcoin at their respective sites, then please take a look over those casinos websites. That is also where you will find information in regards to the range and type of casino games available at those casino sites too!