Five Reasons to Use Bitcoin at Online Casinos
Bitcoin is the granddaddy of cryptocurrencies and has been in the news a lot over the last couple of years due to the volatility of its value. Over the last few years, online casinos have been one medium where one can actually use their bitcoin. Online casinos that accept bitcoin have become wildly popular as it gives players a safe, secure, and fast method for making deposits and cashing out.
Below are five reasons you should consider depositing bitcoin at online casinos that accept bitcoin. Note that this article is referring to standard online casinos that accept bitcoin as a method of payment, not casinos that operate exclusively in bitcoin.
Advantages of Playing at Casinos that Accept Bitcoin
You’re Not Subject to Banking Regulations
Australian gamblers know all too well the problems faced with trying to deposit money into online casinos. Australia has banned online gambling, therefore the majority of banks will block any gambling transaction in the country. Gamblers in the United States have experienced the same problems since 2006.
With bitcoin, you don’t have to worry about banking regulations as it is decentralized. If anything, you are the bank. Your bitcoin comes directly from your bitcoin wallet and the funds sent work like cash. It’s the same as going to a brick and mortar casino, giving the cage your money, and them giving you casino chips to play with.
Often Zero Deposit Fees
One of the expenses of playing at online casinos is deposit fees. These fees can range from 2.5% to 5% per transaction. While that doesn’t sound like a lot, that can add up over time and makes gambling more expensive.
With bitcoin, the majority of online casinos waive deposit fees. You can transfer funds without paying the casino a fee. Of course, there will still be miner fees that are part of the blockchain transfer, but that’s the case with any bitcoin transaction.
Fastest Way to Get Your Deposit
One of the most annoying parts of playing at online casinos is cashing out. Even the fastest deposit options can take two to three days to get to your account. If you play at online casinos using bitcoin, then you’ll experience the fastest withdrawals possible.
In most cases, your withdrawals will transmit instantly to your account. You’ll have to wait for verification from the blockchain, but we are talking 10 to 20 minutes as opposed to three days. Keep in mind that some casinos perform manual processing of bitcoin transactions, which means you may have to wait about a day for a person to initiate the transfer. However, you instantly receive your funds once initiated.
Special Offers Exclusive to Bitcoin Players
If you’re looking for largest online casino bonuses, then consider playing with bitcoin. Online casinos that accept bitcoin want to encourage bitcoin holders to deposit and often offer online casino bonuses that exceed all other bonuses.
For example, you’ll often see Welcome Bonuses with double the match for bitcoin deposits. A bonus with a $100 match usually will become a 200% bonus. It’s not unheard of for bitcoin casinos to offer bonuses offering a triple match bonus.
Similar to mobile deposit bonuses, you’ll find some online casinos will offer exclusive bonus offers to bitcoin customers. Often, these deals are not advertised on the website.
So make sure you sign up for promotional emails and texts from the casino.
Your Deposit Value is Locked In
Casinos that accept bitcoin instantly convert your deposit to the website’s primary currency. For example, if you deposit .2 bitcoin at a value of $1,000, then you have $1,000 in casino funds.
Why is this important? It means you don’t have to worry about your bitcoin deposit losing value as is the possibility when it sits in your wallet. Also, when you make a deposit, your funds are converted based on the price of bitcoin at the time.