Before you decide to use bitcoins at online casinos as your prefered payment method you should know more about them, what they are, how they came to be and how you can use them to your advantage.
Bitcoins are a form of cryptocurrency and they are produced by individuals with the help of computers through the process of mining or solving complex algorithms. Bitcoins can then be used for many kinds of transactions and are untraceable, completely anonymous and not governed by any central authority. This leads to several things.
Firstly, you are anonymous and not tied to any personal or financial info, you don’t have to use your credit card or your IDs to be able to make transactions. Secondly, the exact exchange rate for bitcoins fluctuates so what today can be €5 can tomorrow turn into €1000 and the other way around.
Thirdly, everything is done peer to peer so a transaction takes about 10 minutes, thus making it a lot faster than classical payment methods like credit cards.
What is more, the number of bitcoins that can exist on the internet is limited to 21 million bitcoins and no more can ever be created meaning that they can grow in value without you having to do anything.
How Long Does It Take to Deposit/Cash Out? Are There Fees?
Both depositing and withdrawing happen pretty much instantly with bitcoins. If you have a wallet account small sums will be instantly transacted or it could take a couple of minutes, either way, a much shorter period of time than with any other payment method. Larger amounts can take 2 to 10 hours to deposit or cash out. Generally, transactions with bitcoin take a few minutes to 2 hours no matter how many bitcoins you send/receive.
Another great perk and the reason for which many players love using bitcoins when they are playing online casino games is the fact that not only is it anonymous and takes virtually no time at all, but there are no fees. You don’t have to pay anything. In the event that there are some fees for some reason, they are so small that you won’t even feel them, much lower than anything else.
Do Bitcoin Casinos Offer Free Bitcoins?
Many bitcoin casinos offer free bitcoins as an incentive to new players for registering, referring a new player or for playing a new game. Obviously, like all bonuses offered by any casino, they come with terms and conditions that need to be met. They can come as just free bitcoins, as free bitcoins plus free spins or many other combinations. It depends on the casino what the promotion will be. But if you look around and check our bitcoin casinos selection you should find some pretty amazing promotions.
Bitcoin No Deposit Bonus Offers: What is the Catch?
Obviously, no deposit bonus offers are amazing, no matter what currency or cryptocurrency they come in. No deposit bonuses with bitcoins are exactly like the no deposit offers in euros, pounds or dollars you’ve probably seen before. The only difference is that they are now in bitcoins which if you don’t already have bitcoins might be a little complicated.
While you won’t need to make any deposits with your own bitcoins, assuming that you go through the wagering requirements and win, you will have to either put that sum in your bankroll and keep playing with it or withdraw it. In order to withdraw it, you will need to have a crypto e-wallet that can hold it and you will have to know how to use an exchange if you want to convert it into your currency of choice.
Another “issue” that might arise could be that bitcoin no deposit offers aren’t as common as other bonuses because at this point there aren’t hundreds of casinos offering the possibility of using this cryptocurrency. The good news is that we are working hard to bring these great bonuses straight to you so you won’t have to search the entire internet looking for them. So stick around to get your hands on the best offers!
What Casinos Accept Bitcoin?
There are many exceptional casinos that give you the chance to play your favourite slot games or table games using bitcoins. They can be online casinos or mobile casinos, to offer you even more freedom.
If you want freedom in payment, peer to peer transactions, total control of your personal data, safety in complete encryption, transparent information, no fees and super speed, you should check out our top bitcoin casinos.
Here are just a couple of great choices you should definitely check out!