Best Bitcoin Casino: Which online casinos take bitcoins
Today we will continue our coverage of one of the most important parts of the online casinos namely the depositing methods. There is no question that for many years credit cards were the king of the depositing Methods at the online casinos. But as of late, there is a new camera that has taking over this role from the credit cards and that is the famous Bitcoin. No doubt that today Bitcoin is the easiest way to both deposit and withdraw winnings from the casinos on the internet. However, there is one caveat, and that is that not every online casino accepts Bitcoins or other alternative cryptocurrencies. And today, we will talk about both the casinos that accept Bitcoins and what that means to the industry overall, including how Bitcoins work how to deposit using cryptocurrencies and more. In order to save you some time, we will quickly list the best online casinos that take Bitcoin and other cryptocurrencies below. If you are interested in learning more about how Bitcoin works, you can read further down the article. Alternatively, if you’re not interested in the nitty-gritty of Bitcoin, you can simply check out the list below of the best casinos that accept Bitcoin deposits and withdrawals.
Best Bitcoin Casinos:
|Casino||Bitcoin||Other Cryptos||Min. Deposit||Min. Withdrawal||Bitcoin Bonus|
|#1||Bovada||Yes||Bitcoin Cash||$10||$10||Up to $5,000|
|#2||Slotocash||Yes||Litecoin, Bitcoin Cash||$25||$100||Up to $7,777|
|#3||Red Stag Casino||Yes||Litecoin, Bitcoin Cash||$25||$100||$3,100|
|#4||Las Vegas USA||Yes||No||$25||Varies||Yes|
More about Bitcoin
Starting as a typical tech innovation, the cryptocurrency Bitcoin was initially limited to early adopters and some of the techy-heads a few years ago. Turn the clock forward to today and there is no denial that the popularity of Bitcoin has exploded exponentially, valuing the current market in the billions of dollars. So what are bitcoins and how do they work at the online casinos? Well, in its simplest form, Bitcoin is a virtual currency. One can buy it online (or at selected few bitcoin ATMs) using credit cards, bank wire, draft, etc. and once you’ve bought bitcoins – you can deposit them at the online casino of your choice (a casino that accepts Bitcoin, of course) or you can withdraw your winnings as bitcoins (or other similar crypto currencies). Most people buy Bitcoin at the so called “exchanges”, which act just like any other market exchange, namely, there is a fluctuation price based on demand and supply, and one submits and offer to buy or sell their bitcoins at whatever price one chooses.
Online casinos and Bitcoin
So how does this cryptocurrency relate to the online casinos and why would you use Bitcoin at the casinos? There are quite a few benefits of using Bitcoin to both fund your player account and withdraw your winnings from the casino of your choice. First, it is much easier and faster to use, both for depositing and withdrawing at the gambling websites. Depositing using a credit card may seem as a faster and easier choice at first glance, but the harsh reality is that many credit card issues have decided to decline processing transactions with gambling websites, due to the high incidence of chargebacks. Believe it or not, quite a few customers would deposit at the gambling site using their credit card and if they lose – call the credit card company and file a chargeback. Since the transaction has already been processed – the credit card company often ends up eating the chargeback, something no financial institution would be happy to do. Thusly, they have simply decided to stop doing business with gambling sites. Using Bitcoin at the online casinos, instead guarantees that a deposit will go through.
The benefit to withdrawing your winnings is even bigger. Today many online casinos would have a certain limit on how much you can cash out via check, wire and other similar methods. Plus, it always takes a few days for the check to arrive at your doorsteps alone, not to mention the time it spends on hold by the bank, etc. Not so with cryptocurrencies – the withdrawal takes less than an hour to arrive at your Bitcoin wallet, an amazing benefit for the player, compared with the old-school payout methods.
The one drawback (or boon, depending on timing) to Bitcoin is that the price tends to fluctuate. Not so much today, as Bitcoin’s price has remained relatively steady over the past few months, but we have seen Bitcoin climb from $1,000 to $20,000 and fall to $3,000 in a matter of months in the past. As noted, depending on timing this could be both great and devastating about those investing in Bitcoin, but for the persons who use their cryptocurrency wallets to deposit and withdraw from the online casinos, this should not present much of a problem. Of course, should you decide to keep some bitcoins on hand – bear in mind the said possibility of wild swings a couple of times per year. While catching Bitcoin on the upswing could easily double your casino winnings, the opposite is also true and a real possibility.
But no matter how and what you decide to do with your bitcoins one thing is for sure – they are the best and easiest way to bank at the online casinos. The casinos love using them, as well, and as such, they tend to offer promotions and bonuses when using this payment method. Yet another reason to give Bitcoin a consideration.