If you had the chance to visit some of the best Bitcoin casinos or read reviews from current members, you might have noticed that many are using crypto as a withdrawal or deposit method.
It’s no surprise that with the rise of crypto, especially Bitcoin, many players have transitioned from traditional banking methods to modern options. To check out all of the benefits of using Bitcoin for gambling, keep reading this article.
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Benefits of Gaming With Bitcoin
First and foremost, you have to pick a legit casino site that has implemented crypto as a payment method. Always check for a valid gaming license before filling your account at any site.
Once you have established which gaming provider site is up to your standards, it’s time to claim bonuses and deposit cash. Bitcoin casinos have several benefits compared to “regular” ones. Below are some pros that come with using this crypto:
- More Privacy
- Instant Transactions
- Exclusive Perks
- Higher Limits
Extra Privacy
All casino sites use SSL encryption tech to protect all banking info and make sure the transactions are secure. However, when gamers use traditional payment methods such as credit/debit cards, e-wallets, or bank transfers, they must provide certain info. In other words, there can’t be any anonymity using those options.
Crypto, on the other hand, is entirely anonymous. Many users take this as the most significant pro of using Bitcoin. Note that to buy Bitcoin, you may have to give some private information if you are using credit/debit cards or other standard methods. But in any case, that info cannot be accessed by the casino site.
Making a transaction with Bitcoin requires only the specific address of your crypto wallet, which doesn’t contain any personal or banking details.
Instant Transactions
When a player has decided which casino site to use and wants to deposit a certain amount to play, the transaction needs to be fast. Even though almost every site today offers immediate deposits, there are some exceptions.
The same, however, cannot be said for withdrawals. If a casino site only provides traditional payment methods such as credit/debit cards, e-wallets, pre-paid cards, cheques, or bank transfers, players will have to wait out the processing period. This is where cryptocurrencies shine, as withdrawals only take up to 15 minutes to reach your crypto wallet.
It is a massive improvement to previous, traditional methods where players would have to wait between 1 and 7 days to get their wins to their accounts.
Exclusive Perks
Every casino site you visit will have its own promos. You will be able to find welcome packages, reload bonuses, cashback rewards, extra spins, referral programs, birthday gifts, and on rare occasions, no deposit perks.
Besides all of those mentioned incentives, each of the best Bitcoin casinos generally offers exclusive perks for members who use Bitcoin to make transactions.
You may find sites that offer larger welcome bonuses for players that use crypto. For example, if the standard welcome bonus can go up to $500, the exclusive welcome perk will go up to $1000 and sometimes even more.
Players can even get exclusive perks when they make their first deposit at the site. These offers can be deposit matches, reload bonuses, or gratis spins.
Higher Limits
It is normal for all casino sites to up the limit for withdrawals and deposits if players use crypto as a banking option. While gamers that use some traditional methods can make a maximum deposit of $1000 per day, players that use Bitcoin can make deposits above $5000.
This also goes for withdrawals. So, if the maximum limit for withdrawal per day is $2000, Bitcoin users have the chance to make withdrawals worth $5000. Keep in mind that playthrough requirements stay the same for both “regular” and crypto players, so before requesting a cashout, make sure to fulfill them all.
Other Cryptos That Have the Same Benefits as Bitcoin
Bitcoin was one of the first crypto methods implemented at casino sites. However, as time went by, more cryptocurrencies landed on the market, and naturally, casinos tried to include as many. Here are some that you can use besides Bitcoin:
- Ethereum
- Litecoin
- Dogecoin
- Tether
- Ripple
- Dash
- Zcash
How to Use Bitcoin Payment Method in an Online Casino
As we’ve seen, using Bitcoin for your transactions at a casino site has many benefits. Now comes the question, how do you deposit or withdraw using Bitcoin? The process is quite simple.
First, enter the casino’s website and browse through the deposit methods. Once you find Bitcoin, select this option. Online casinos usually place the minimum deposit limit at around $5 to $10 for Bitcoin payments.
The next step is funding your account’s wallet. To do this, you have to connect your existing crypto wallet. For larger sums, you should use cold wallets, whereas, for smaller ones, many online casinos allow creating wallets within the provider’s system.
All you have to do now is choose the amount you want to deposit and transfer the cash. This transaction will be immediate, so you can jump into playing your preferred games right away. Note that Bitcoins may be transferred to another currency after you wager.
Bitcoin cashouts are a recent thing when it comes to withdrawals, so not many game providers accept them. In these, players can pick other swift methods like e-wallets. Nevertheless, some providers do full transactions with Bitcoin, including withdrawals.
The process here is the same as for the deposits – click the Bitcoin withdrawal method in the cashier and choose the amount. If you have already deposited through the same method, you can expect your winnings to be instantly credited to your crypto wallet.
Final Thoughts
Bitcoin casinos have many advantages. Gamers will get extra security and won’t have to provide any personal or bank information and get instant deposits and withdrawals. On top of it all, many game sites have exclusive Bitcoin promos and higher limits for players using Bitcoin.
So go with the time, and replace traditional banking methods with Bitcoin at your preferred casino!
Varsha