Bitcoin is a crypto currency that was first introduced in 2009. It is a purely digital currency, and it can be used to make payments online at casinos, as well as online stores that accept Bitcoin payments. There are more and more land-based establishments that accept this digital currency for payments as well, for example restaurants, hotels or shops.
Online casinos accepting Bitcoin payments
There are some online casinos that accept Bitcoin for payments, but not many. Here is a list with the casinos that accept this payment method.
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Advantages and disadvantages of the Bitcoin payment method
The payment method Bitcoin has many advantages, but also many disadvantages. First of all, you will need a Bitcoin wallet where you store your Bitcoins. You can register these wallets with websites, or you can also download it to your own computer. Both methods have risks. When storing your wallet with a provider you need to make certain that they have a good reputation, as it has happened in the past that Bitcoin wallet providers just ran away with their user's Bitcoins. Storing it on your own computer on the other hand bears the risk of you losing the wallet through a hardware error or other malfunctions. Using Bitcoins on the other hand is very convenient, as you can make completely anonymous payments to and from casinos. You can also exchange Bitcoin into real money when using a crypto currency exchange, and then you can transfer it to your own bank account. Another disadvantage of Bitcoin is also that the currency is very volatile, and that the value fluctuates a lot.
Getting a casino bonus with Bitcoin
Depending on the policies of the casinos you can get a welcome bonus as a new player, which usually also includes bonuses for payments made with Bitcoins. Some online casinos also give you a special bonus when you deposit money with certain payment methods. The reason for this is that the casinos incur lower costs when you use a certain method, and they pass their savings on to you by rewarding you with a bonus for using a particular payment method. Unfortunately, this type of payment bonus is not available for deposits made with Bitcoin. To find out whether you qualify for a casino bonus you can contact the casinos directly.
Depositing money in an online casino with Bitcoin
If you want to deposit money into your online casino player account with Bitcoin, you will first have to make sure that the casino accepts this payment method, as there are not many operators that accept Bitcoin payments. To make the payment, you simply need to select Bitcoin as the method, enter the amount you wish to deposit and then follow the instructions on screen to confirm the payment with your Bitcoin key.
Withdrawing winnings from your player account with Bitcoin
The casinos that accept Bitcoins for deposits also often allow their users to withdraw money to their Bitcoin wallet. However, you need to confirm with the casino beforehand that this is possible. If it is not possible you will need to select a different payment method, usually a bank transfer. In order to process the withdrawal with the casino you will have to inform the casino about the public key of your Bitcoin wallet so that they can send you the Bitcoins to your digital wallet.