Bitcoin is quickly becoming the currency of choice for gambling online. From faster speeds to greater reliability, there are numerous advantages to gambling with Bitcoin over traditional currencies. Ready to get started? Our guide will cover:
Here are our favorite online casinos that accept Bitcoin deposits and withdrawals:
While Visa (and credit cards in general) tend to be the default method for most US-facing online casinos given their popularity and high acceptance rates, it’s worth noting that each casino has different minimum deposit and withdrawal requirements for each payment method, so as always, we’d recommend reading the fine print.
As the calendar flipped from 2020 to 2021, the market value of Bitcoin soared to an all-time high in February of more than $58,000 per coin. As the value of each coin increased more companies and businesses started to embrace the popular cryptocurrency. In fact, Elon Musk not only invested $1.5-billion in BTC and plans to accept it as payment for his Tesla line of electric cars. Online casinos were ahead of the curve as to the notion that Bitcoin would become an accepted form of payment. This is why many early adapters like Bovada and Ignition casino offer such generous welcome and reload bonuses when depositing Bitcoin.
Select your Bitcoin casino and sign up for an account.
Select and set up a Bitcoin wallet, which is how you will manage and send your Bitcoin.
Select an exchange and purchase Bitcoin using your credit card or bank transfer.
One of the many pros to using Bitcoin at casino sites is the level of anonymity you have. There isn’t really any billing that comes with using Bitcoin at online casino sites as it isn’t connected to your bank account or credit card. Don’t put any personal details in your Bitcoin wallet and these transactions won’t be traced back to you.
Head to the casino’s withdrawal page, choose your amount, and select Bitcoin as your intended method.
Check your Bitcoin wallet address, confirm and it and send the address to the casino site.
Finish the transaction and receive your bitcoins almost immediately. It’s that simple!
Bitcoin is highly lauded for its security features. The encryption that comes with Bitcoin transaction is top of the line, and these transactions are largely unable to be traced to back to you, which is great. Meanwhile, you receive larger bonuses for making deposits with Bitcoin, so it works out for everyone.
You also have to check on the casino’s end to make sure they’re doing all they can to keep your transactions secure. Make sure you can see the padlock icon right by the website address to confirm that it is safe.
Current regulations in the USA do not prohibit gambling with Bitcoin. Gambling with BTC is incredibly similar to gambling with USD. While the currency wagered might be different, the core principle of online gambling remains the same. The player bets in the hopes of winning an additional reward.
When considering registering with a new casino, it is best practice to read up on the rules as well as the terms and conditions – each site has slight variations. Some may refuse to accept US Bitcoin players, while some might put an additional age limit on gambling with Bitcoin. This is important as in the USA, online gambling legislation tends to be governed by individual states – for example, some states prohibit all forms of online gambling.
The key is to follow any gambling law in your jurisdiction. To find out more about gambling laws in the US, check out our guide.
Since the successful launch of Bitcoin, over 5,000 alternative cryptocurrencies have been created. Affectionately known as altcoin, some of these alternatives are direct descendants of Bitcoin – Bitcoin Cash and Bitcoin SV. Born from developer disagreements, the crucial difference between them all is block size. However, while Bitcoin remains the most popular of cryptocurrencies, altcoins such as Ethereum, Ripple and Litecoin are gaining in popularity.
While these alternatives hold many of the advantages of Bitcoin such as the instant transactions and higher limits, a major disadvantage to gambling with them is that many casinos do not accept them. BetOnline supports many of the above cryptocurrencies as well as Bitcoin.
If you’ve decided that Bitcoin isn’t for you, here are some of our other favorite deposit methods:
Cryptocurrency is a digital currency designed to facilitate the exchange of goods or services in the same way that USD and EUR do. The cryptography of the currency makes it nearly impossible to counterfeit or double-spend, and because they are not issued by any central authority, they are (at least theoretically) immune to government interference.
Bitcoin is the first globally operated, decentralized digital currency. Launched in 2009, Bitcoin is the most popular of all the cryptocurrencies.
There are many Bitcoin wallets to choose from, but we recommend Exodus.
Bitcoin is safe to use. However, as with all online financial transactions, your safety is reliant on your security habits. You can keep your money safe by ensuring that your Bitcoin wallet is hosted by a trusted provider and that you play at the best, tried and tested casinos.
As long as you are playing at a reputable, Bitcoin-friendly casino, you’ll be able to play all of your favorite casino games.
