Everyone is talking about Bitcoin, as the concept of utilizing cryptocurrencies becomes more and more mainstream. From paying for your takeaway food to buying a pair of trainers, you can now use cryptocurrencies to conveniently pay for almost anything online: and that includes playing games at online casinos.
Regular online casinos are increasingly offering cryptocurrency as a form of payment, and specialist bitcoin casinos only allow you to place bets using the cryptocurrency. The best bitcoin casino offerings enable their customers to bet anonymously, providing a secure betting environment and peace of mind that their payment details and transaction history can never be shared with anyone else.
So, what are the benefits of using bitcoin in online casinos rather than traditional currencies? And is it as easy as it sounds? Here’s everything you need to know:
Bitcoin Offers Excellent Security
When you sign up to play at a conventional online casino, you have to share your name, your address, and your bank or credit card details. However, when you play at a bitcoin casino, you don’t have to share any of this personal information about yourself. One of the main benefits of cryptocurrency is that it is anonymous and therefore if a website is breached none of your private information can ever be stolen or sold. Not only will you be protected from identity theft, but this also means that you can keep all of your online gambling transactions completely private too.
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There are many circumstances where this level of privacy can be beneficial: if you’re applying for a mortgage, for example, and want to keep your outgoings to yourself then using cryptocurrency will mean that you don’t have to declare your casino expenditure on any of the paperwork.
Bitcoin Transactions Are Fast
Another benefit of utilizing a bitcoin casino is that you can log in and start playing incredibly quickly. For the same reasons that we outlined above, when you use bitcoin, you don’t need to enter all of your personal details, so setting up an account is incredibly speedy. So too is withdrawing funds if and when you win. It can take anything between several hours to 2-3 days to release funds from an online casino to a regular bank account. Because cryptocurrencies are decentralized currencies, the process of releasing funds can be undertaken much faster: in anything between ten minutes and two hours. Your money can be in your digital wallet before you know it.
One minor flaw in this system? There tends to be a minimum withdrawal amount, with both traditional online and bitcoin casinos. However, this minimum withdrawal amount is often larger with bitcoin casinos than it is with traditional casinos: this means that whilst you will ultimately receive your funds quickly, you may have to wait until you have a more substantial sum in your account before you are able to withdraw it.
Bitcoin Casinos Offer Brilliant Bonuses
Almost all online casinos will use bonuses and welcome offers to entice new customers. This is especially true of Bitcoin casinos, where site owners are keen to attract as many new customers as possible. This means that almost all bitcoin casinos will match your deposit by 100%, and some casinos offer additional bonuses for future deposits too, in a bid to encourage loyalty and ensure that you return to play again.
The strength of their welcome bonuses is one of the biggest selling points of Bitcoin casinos, as it means that you are effectively reducing the risk of your own bet by utilizing money added to your account by the casino in conjunction with your own. Whatever kind of casino games you enjoy, you will find a bitcoin casino (and an attractive offer for making a deposit) to suit your needs.
