Bitcoin Online Casinos

Bitcoin online casinos are all the rage. They were unheard of just a few years ago but they have quickly grown into the next big thing. This is the trend that everyone wants to be a part of, from the developers and designers making the casinos, to the gamblers playing on them.

But what is Bitcoin, how can they be used to gamble online and are they safe? We address these questions and many more in this guide to Bitcoin online casinos.

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      What is Bitcoin?

      Bitcoin is a digital currency also known as a “cryptocurrency”. It doesn’t exist in any palpable form but rather exists in a virtual world. It is not connected to a central bank, which means it can not be exploited by a government.

      This is the description always given to Bitcoin, but it’s one that still confuses many people, so let’s break it down a little more. If you already know the score and are here to learn about Bitcoin gambling and Bitcoin casinos, skip the next bit.

      Explaining Bitcoin in Laymans Terms

      A few hundred years ago, all currency was created from gold, silver and other precious metals. This meant that if you had, say, 1 dollar, then you had 1 dollar worth of silver or gold. If you were to melt the coin down and sell it for scrap, you could sell it for 1 dollar. It wasn’t quite that simple, but that was certainly the reason behind it and it was perfectly logical.

      Then fiat currency came along. This currency is created from cheap metals and other materials, it has no inherent value and its actual value is determined by the government, as well as many other factors too complicated to touch upon here. These currencies are susceptible to global changes and can plummet in value overnight, rendering them completely worthless, as we have seen with the hyperinflation in Mexico and Zimbabwe over the years.

      They are unstable, yet we rely on them to buy the things we need to survive. Bitcoin does away with this and introduces a new idea. With Bitcoin you still have something that has no inherent value, but because it is “mined” into existence like gold and silver and because it is available in limited amounts (also like gold and silver) it has more inherent value.

      Bitcoin is also not connected to any government or any bank, which means that it is more stable when it comes to national events and changes. This is why it is considered the currency of the future, because when all of this fiat money becomes worthless, we will either be forced back to gold and silver, or we’ll be pushed forward into Bitcoin.

      Bitcoin Online Casinos

      Bitcoin online casinos are simply casinos that accept Bitcoin in the form of a deposit. But there is a little more to it than that, so let’s unravel this subject some more:

      How they Operate

      Bitcoin casinos allow you to deposit and withdraw using Bitcoins. In most cases you can only use Bitcoins. The majority of online casinos use payment gateways that come loaded with a variety of web wallets, credit cards, debit cards and more. This means that rather than going through options to add VISA, MasterCard, PayPal and other methods individually, they are simply adding one network that has all of these.

      Bitcoin is not included on these networks as it processes payments in a different manner. This means that casinos that have all of those other options tend not to have Bitcoin, and casinos that have Bitcoin tend not to have the other options.

      Where to Find Them

      You can find them right here on this site. We have reviewed the very best Bitcoin casinos and we update our reviews regularly to account for any changes that these casinos have undergone. It is rare for a good casino to turn bad, but it’s not unheard of, so we like to keep an eye on them to keep them on their toes.

      Are they Safe?

      They are perfectly safe, but you should make sure that they are licensed, regulated and legal. It doesn’t take much for a scammer to create a fake Bitcoin online casino in order to steal your money and with Bitcoins this is easily done.

      Check that they are licensed and regulated, check that they use security certificates and check that they actually have the games that they claim to have. Scammers are fly-by-night schemers. They want to be here today and gone tomorrow, so they don’t go to the trouble of getting SSL certificates, casino software and all that jazz.

      That doesn’t mean that an online casino that has such a setup is legitimate, but it’s certainly a good indicator.

      How to Deposit with Bitcoin

      Your first step is to create a Bitcoin wallet. There are many options for that out there, including wallets that can be stored locally and wallets that can be stored on clouds.

      You then need to add Bitcoins to your wallet. You can do this by signing up to a cryptocurrency exchange such as CoinBase. For this you will need to verify your ID and address and then exchange your native currency for Bitcoins at the latest price.

      Once you have done this then you will have your wallet ID and your Bitcoins. From there you just need to signup, choose the “Bitcoin” deposit option and then send the required amount.

      How to Withdraw with Bitcoin

      When it is time to withdraw, just select “Bitcoin” as a method, input the amount and your wallet ID and then process it. It should be instant, but they will likely run some checks first so it may take up to 48 hours for it to land in your wallet.

      If you want to turn these Bitcoins into actual cash then you will need to jump on an exchange and swap them back. However, considering the potential that Bitcoins have, it might be worth holding onto a few of them. You just never know how high the value of this digital currency will go and if you sold them for a few hundred dollars before they climbed to several thousand dollars, you’ll be pretty angry with yourself.

      Bitcoin Safety and Security

      Bitcoin is very safe and secure and if you use a reputable online casino then that will be safe and secure as well. There are some things that you need to do to ensure this is the case though. Firstly, make sure your home computer, the one that you will be gambling on, is safe and free of malware, viruses and hackers.

      You can use anti-virus programs and firewalls to make sure this is the case. You should also back everything up to a cloud or an external hard-drive, including your Bitcoin wallet. This is true for Mac owners as well. Macs are harder to hack, but such things still occur. If you own a Mac, just make sure your OS is updated to the latest version, use iCloud and take advantage of their Time Machine facility. That should be enough to keep you safe.

      When you are online you should avoid giving your password out to anyone and you should also make sure that the password you use has not been used elsewhere. Hack attempts are very common these days and while hackers are not taking many credit card numbers, they are taking email addresses, user names and passwords. If you use the same details on a chat room, email client or social media account as you use on a gambling site, those details could be stolen and used to gain access to all of your hard earned and hard won money.

      You can use a password manager or you can simply use a Word document to store passwords. Just make sure that you use a long string of random characters to ensure it can not be easily guessed.

      Pros of Bitcoin Casinos

      It’s Anonymous

      Bitcoins are completely anonymous. No one needs to know how much you are gambling or even if you are gambling at all. And that includes the government.

      It’s Secure

      You can’t get much more secure than Bitcoins, which make use of advanced blockchain technology to ensure everything is safe, secure and untraceable. It’s also out of reach of the banks because it’s not a centralised currency.

      No Fees

      Sick of paying $10 to $40 per bank transfer and up to 3% for credit cards and web wallet transfers? With Bitcoin you won’t need to worry about fees because there are none.

      Big Bonuses

      Because Bitcoin online casinos are relatively new and the operators are trying to convince players to join, the bonuses are huge.

      Cons of Bitcoin Casinos

      You Cant Cancel Payments

      If you send a bank transfer to the wrong place there is a good chance you can cancel it and get your money back. Not with Bitcoin. You can’t cancel and there is very little room for error.

      The Value Changes

      The value of every global currency is always changing. With fiat money like the US Dollar and British Pound, those changes are slight, almost infinitesimal really. With Bitcoins, however, they can be significant. You could have $1,000 worth of coins one minute and $500 the next.

      Bitcoin Casinos FAQ

      Is Bitcoin Gambling Legal?

      If you reside in a state or country where online gambling is legal then Bitcoin is legal as well. It is as simple as that. If you live in a country where online gambling is not legal then you may face issues, such as an inability to find sites that will let you join.

      Will my Bitcoins be Hacked?

      Your Bitcoin wallet will be stored on your hard-drive. This makes it susceptible to harm if you are someone who uses questionable websites and downloads unsafe programs. You should store it on a cloud instead. You can also buy an external hard drive.

      Are Bitcoin Casinos Licensed and Regulated?

      The legitimate ones are because they operate just like any other online casino. Just look for the badge of the regulator at the bottom of the main page and make sure it checks out.

      Are There Deposit/Withdrawal Limits?

      There will be limits but they are usually very high. These limits are imposed by the online casino though and not by Bitcoin, so it changes from casino to casino.

      Do I Have to Use an Exchange to Buy Bitcoins?

      It is the easiest and most common way, but you don’t have to. If you know someone who has some Bitcoins then you can buy from them. You can also try to mine some yourself, but you need expensive software in order to make this happen.

      Is it Anonymous?

      Completely. This is one of the main reasons why Bitcoin was created in the first place and it’s why it has become so popular with underground users on the back market. That doesn’t make it a suspicious or criminal coin in anyway, but like other legitimate payment programs such as Western Union, it has become associated with such activities.

      Do Bitcoin Casinos Have Bonuses?

      Yes! In fact, they have some of the best online casino bonuses you will find. They are desperate to lure players away from traditional online casinos and they do this by throwing free spins, matched deposit bonuses and more at them.

      These super high and super generous bonuses are why so many gamblers are making the switch to Bitcoin.

      Can I Use my Mobile on Bitcoin Casinos?

      In some cases yes, but it will all depend on the online casino. This is the age of the smartphone and the tablet though and Bitcoin casinos are brand new, so we would be very surprised if you encountered many online casinos that didn’t let you play on your device.

      It should be noted, however, that they will rarely appear as apps in the app store and if you use the Google Play Store they will never appear due to its restrictions on online gambling programs. You will either have to use your mobile browser or you will have to download an app directly from the Bitcoin casino homepage.