With so many online betting sites to choose from customers could be forgiven for feeling overwhelmed with all the different bookies vying for their business. So to hear that there is a new group of online casinos on the market might be thought of as just too much! But with these new sites putting forward an online casino bitcoin is the main currency to use and it is proving a real hit with online punters new and old.
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Obviously when a relatively new angle to online betting comes along there are some who wholeheartedly embrace it and look at it to make their experience even more enjoyable. And then there will also be the more traditional users who will look at the arrival of a new currency with suspicion.
Of course customers should do their research and look into the new online casino bitcoin sites but only in the same way you should do when you are thinking of signing up to any other betting site. If you are unsure about whether online casino bitcoin sites are for you or not then we are here to go through some of the basics.
We will be taking a look at what bitcoin is and why you should consider using it for your online betting – as well as how you actually go about doing that. We will also take a quick look at some of the online casino bitcoin sites that are already out there and what kind of welcome offers you could take advantage of by getting in early. And there are always some good welcome promotions!
Many online sites believe that the use of bitcoin is the future so it is probably a good idea to at least find out as much as you can about it so you can make an informed decision about how you are going to use it.
What is Bitcoin?
You will probably have heard of bitcoin even if you don’t know much about it. You may even think that it is some futuristic currency that is only used by the technology advanced – or even worse, criminals. There are a lot of stories and rumours about bitcoin and the use of it as a worldwide currency but if you want to learn some actual facts about how it could revolutionise the betting industry – and how it is ideal for online gambling – then read on.
Bitcoin is just another choice of currency to use. The main difference to British pounds, US dollars or euros is that bitcoin is a digital – or cryptocurrency. It is exchanged for goods in much the same way as all other currencies but its digital nature means that it can be used in a more efficient manner – and is especially good for online transactions.
The use of bitcoin is growing and whether you are purchasing clothes or now playing bitcoin roulette, more and more people are recognising how useful it is to have a currency unhampered by the traditional methods of banking and currency transaction.
The main reason for introducing bitcoin was to have a currency that wasn’t owned by any central organisation but could be used by individuals to make their transactions over the internet in a better way. There are no actual physical coins (or notes) but there is also a limit to the amount in existence (around 21 million) so it cannot be affected by inflation. Although it must be said that the currency is regarded as highly volatile so it doesn’t come without its detractors.
But trading over the internet is exactly what online casino bitcoin sites do so if it makes life easier for betting customer account holders then surely this is a good idea for people wanting to play bitcoin roulette, place in play sports bets or simply spend some time playing slots.
Why Use Bitcoins?
We have already mentioned that using bitcoin as a currency is ideal for online betting. But really that is because it is specifically designed to be used online. As there is no physical ‘paper’ money it is wholly used over the internet in transactions. And this design means that several middle men – when it comes to conventional or traditional currency transactions – are missed out making it advantageous for all involved.
The speed of a transaction is regularly given as one of the main plus points with using bitcoin. No banks are involved so there is nowhere for the money to be held – something that infuriates customers making purchases or trading over the internet. And as there is nothing else going on other than the transaction there is very little charge or none at all – unlike card transactions.
Another major advantage to using bitcoins when online betting is the security of the digital currency. People trading in bitcoins do not need to produce any other personal information so these details cannot be hacked, stolen or forged. This obviously decreases the possibility of any online fraud. Credit cards were never designed to be used online (mainly because the internet had not been invented when they were first conceived) so using bitcoins instead will make your transactions far more secure.
We have already mentioned that, because bitcoins are decentralised, there is no inflation involved and this is because only bitcoin miners can produce more bitcoins – and then only up to approximately 21 million worldwide. With some investment you can actually become a bitcoin miner yourself so could produce more that way as well.
How to Store Bitcoins?
Much of what newcomers might find confusing or seemingly impenetrable about bitcoin is actually just the language that goes along with it. Take for example, the bitcoin wallet. You will need this to store your bitcoins. By calling it a wallet, customers not up with the language of bitcoin may be confused but when you understand that what it really is, the bitcoin equivalent of a bank account, it all seems so much easier to understand.
So, like a bank account where you keep other currency, your wallet is where you keep your bitcoins and where you will go to make deposits into your online casino bitcoin site account. You will need to trade or buy bitcoins such as you would any other type of currency but first we will take a quick look at the four kinds of bitcoin wallet you can have to dispel any further confusion.
The four types are split into hot and cold storage wallets. Hot storage means online and can be accessed anywhere on the internet. Cold storage is offline and considered to be more secure and they are physical storage facilities so harder for hackers to get into. It depends on your perceived level of security as to which type of wallet you go for in conjunction with your online betting account. But all bitcoin wallets are safer than using credit and debit cards to make your transactions for means of a comparison.
Four Types of Bitcoin Wallet
- Software wallets are hot storage and use software downloaded onto either laptop or mobile devices to create the wallet. These are particularly good on smartphones as you can then use an optimised app to conduct your business
- Although online wallets are the easiest to use they do use other servers to store some of the details needed for bitcoin transactions (we will go into the components of a wallet in a moment). For smaller transactions these online wallets are probably the best though so it all depends on how much you are considering betting with
- Paper wallets are actual physical documents holding the public and private keys that are needed for a bitcoin transaction. However, the term ‘paper wallet is also used as a general way of referring to bitcoins stored offline
- The final type of bitcoin wallet is the hardware version. These are cold storage devices that work as USBs and can be plugged into your computer to generate the keys needed for the transaction. The security on these hardware wallets is incredibly high and are also really easy to use
Hopefully we didn’t blind you with science there – it really is all quite easy to use once you get the hang of it. The ‘keys’ we referred to are the public key – basically the address of your wallet and ensures that you are the owner and able to receive bitcoins. The private key is the part that allows the bitcoin to be spent and the encryption code on this part is so developed that this is where the security comes in when dealing with bitcoins.
How to Get Bitcoins?
Now you understand the basics of bitcoin wallets the most important thing to find out is surely how you get the bitcoins in the first place – so you can use them on an online casino site.
There are a number of ways to get bitcoins including reputable exchanges as well as peer to peer platforms where it is more of an individual transaction. You can even meet people face to face to do a deal and there are a variety of companies who can facilitate that.
Recently there has also been the emergence of bitcoin ATMs that work in a very similar way to conventional cash machines where you can deposit cash and have it transferred into bitcoin in your wallet. Of course, when it comes to online casino bitcoin sites they will usually have some kind of welcome promotion that will normally include a deposit match.
You will probably have the choice between depositing euros or some other conventional currency but if you already have a wallet and deposit a bitcoin the online casino in question will match your deposit in the same currency. In this way you are getting more bitcoins to use across the casino site.
We did mention earlier the business of bitcoin mining where you produce more bitcoins yourself. Although this sounds too good to be true it has become much harder to do these days and is generally operated by big business rather than individuals.
The main thing to remember about bitcoins is that its growing popularity means that it will only become easier to get bitcoins as the technology advances and the use of the digital currency increases.
Online Casinos Using the Bitcoin Payment Method
When we talk about online casino bitcoin sites it should be made very clear that you are still able to use other currencies – such as euros, yen, British pounds etc – to bet with but the real selling point of these sites is that you are also able to play with bitcoins. The security is obviously a key advantage in using bitcoins as your designated currency and also the speed of the transactions is a distinct plus.
It must be said that the online casinos that accept bitcoins are not that subtle when it comes to naming so you should not find any difficulty finding a site that you can sign up with. For example, Bitstarz, Bitwin and Bitcasino are all examples of online casino sites that use bitcoin as a betting currency. We’re betting that you noticed the slight giveaway that they all were happy using this new digital currency!
Online Casino Bitcoin Welcome Promotions
Online casino bitcoin sites are just like any other online betting operation in that they will offer enticing welcome offers in order to sign up new customers. Again, the bitcoin way is not much different to the usual promotions in that for registering for a new customer account – sometimes with the use of a bonus code – punters will receive a selection of freebies.
The favourite with bitcoin sites seems to be a deposit match plus free spins on one of their casino slots. The use of the deposit match makes perfect sense when you take into consideration that there will eventually be a finite amount of bitcoins available.
Although the process of getting more bitcoins is not that hard once you have set up your wallet and know where to trade, receiving one just for depositing one into your new customer account seems a remarkably good deal.
Online casino Betchain is a perfect example of this kind of welcome deal. By depositing up to a limit of €100 or 1 bitcoin, they will match your deposit 100%. You could deposit as little as €10 or 0.05 BTC and Betchain would still effectively double your account funds. With this promotion you also get 50 free spins so you get some risk free plays as well.
One interesting element of many of the bitcoin casino site welcome promotions that isn’t always the case in the more traditional sites is that they seem to like offering further matches for the second, third and fourth deposits as well. Obviously we are not complaining as this gives new customers even more incentive to sign up and keep on playing – and funding their accounts. As another way to get even more bitcoins in your wallet this has got to be good!
Bonus Code for Bitcoin Casinos
As we have seen there are plenty of online casino sites that are starting to accept bitcoin as a method of payment – as well as those making it their main selling point. To be able to play casino games on these sites you will need to register as a customer account holder. We will go through what that entails shortly but the other thing that newcomers to online betting should know is bonus codes.
Bonus codes are used on online betting sites whether they accept bitcoin or not and the bookies believe it is a good way for potential customers to notice their site – and ultimately sign up. They are usually made up of words and numbers that will have something to do with the bookie or welcome promotion and can be found on blogs, betting sites or social media. There are reveal buttons on this very site that will take you to a registration page where you can enter the code, so they are just about everywhere!
It must be said that not all welcome promotions require a bonus code for you to qualify or activate the welcome promotion but make sure that is the case because you do not want to miss out on deposit matches, free bets or free spins just because you fail to include the bonus code when you register for your new customer account.
Entering the bonus code where required also tells the bookie that you are noticing their marketing campaigns so it is a good analytical tool for them – as well as getting another paying customer account holder on board.
How to Sign Up for a Online Casino Bitcoin
To play on any online betting site you will need to first sign up as a customer account holder. We have explained how you might get hold of a bonus code to help you qualify for a welcome promotion, but even if you don’t have one you still need to register.
Online casino bitcoin sites will differ slightly in appearance and sign up processes but the basics of most customer registration procedures are very similar so we can give you a general idea of how to go about it.
- On the casino site’s homepage there will usually be a ‘join now’, ‘sign up’ or ‘register now’ button in the top right hand corner of the screen. The wording may be slightly different but click on this and a new form will appear, possibly in a separate screen
- You will then need to enter your personal details – name, address, email, phone number etc – as well as some security details. This is usually in the form of a username (although sometimes your email address is used for this) and a password. You will be told how the password must be formatted but apart from that you can choose what you like
- Make sure your password is easy to remember but also not obvious to guess as this is what you will need when you log in to your account in the future
- You might be asked which currency you want to bet with and some other minor settings preferences questions here. Even if you are asked to complete this section now you can always change your choices later on so don’t get too bogged down on these details now
- Normally, towards the bottom of the registration form, you will be asked to enter a bonus code if you have one. Whether it is Bitstarz (who have one) or someone like Betchain (who don’t) this is probably the last piece of information you need to enter
- Then it is just a case of ticking the terms and conditions boxes and clicking the button at the bottom to complete the registration process
- You are now a brand new customer account holder! If you need to make a deposit to activate the welcome promotion you will usually need to do that fairly soon after you have signed up. If you needed a bonus code the site will pick up on the information and activate the welcome offer
It is always a good idea to look into the general terms and conditions of a welcome promotion before signing up for an account as there always some industry standard stipulations when it comes to withdrawing any winnings accrued from bonus money – as well as other details that could make you change your mind about signing up with a particular casino site.
What to Expect from a Bitcoin Casino Site
Apart from the ability to bet using bitcoin payments, a bitcoin casino site is basically the same as any other online betting site. They might have some specialist games available – such as the first bitcoin-themed slot game, Satoshi’s Secret as a nice marketing tool – but apart from that the choice is generally the same.
So what can you play and bet on at a casino site? A lot of online casino sites will concentrate on what they know and not include a sportsbook as well. The bigger bookies like to cover all their bases by having separate sections but many casino sites leave the sports betting to the specialist and go for what they know.
There is generally a main menu bar that will give you options including:
- Table Games
- Live Poker
You might find sometimes that these are broken down into more specific areas such as blackjack, bitcoin roulette or classic slots but if not you will be able to access the games once you choose the option from the main menu.
As with any betting site you will see other options including promotions, VIP packages and support but we will concentrate on the actual games you can play for now.
Bitcoin Roulette and Other Table Games
When most people think of casinos they picture a classy venue with guests dressed to impress sipping on expensive cocktails. For any of you that have actually been to a real casino you will know that that picture is not exactly how reality plays out! But the beauty of online betting is that you can let your imagination run free. So if you want to picture yourself in a high class casino when you are playing bitcoin roulette then you go for it!
The main table games are always offered no matter what site you end up signing up with. So you can choose from blackjack, bitcoin roulette and baccarat. There may be other options such as dice games like craps or other less common games but there will definitely be a number of variants of each game depending on what rules you are used to playing or more comfortable with.
Poker and Live Poker
Although it could be classified with the table games, a lot of betting sites give poker its own section – probably as they know that it is one of the most popular games to bet on online. A lot of customer account holders will make their way to the poker games and the bookies recognise this by regularly staging real life competitions and tournaments for its account holders. American sites are big on this but keep an eye out on the news of the site you choose if you like the sound of that.
As with the casino games there is usually a live option to choose from as well. Rather than playing against a computer programme, these live options let you play against other customer account holders and are more like the poker games you would play at a real life casino.
To give these live options a bigger sense of glitz and glamour you can also choose to play with a live dealer who can interact with the contestants as the game is in progress. Many players like this more realistic setting and you don’t have to be a high roller to participate. Find the game that you like – with the betting parameters you agree with – and cash in some chips!
Slots Slots Slots
For a less taxing but still hugely enjoyable online casino experience you could choose to play on the slots. Some of these betting sites have hundreds to choose from – from old favourites to all the new blockbusters. Whether it is Wild Sevens, Lucky Leprechaun or a movie-themed game such as Scarface or Ghostbusters, there is always a huge selection to choose from.
You can usually filter your search to find the slot you want by favourites, new games or even just alphabetically. Although there is not as much skill involved in these games – compared to some of the traditional table games – they are very enjoyable to play and some of the winning lines can bring in a lot of money!
An Extra Attraction for Bitcoin Casino Games
There is another great advantage to signing up for an online casino bitcoin site that we wanted to highlight away from the other plus points as we think it stands on its own and is a factor that should really persuade anyone unsure of registering for a new account.
Unlike real life casinos or other online casinos, bitcoin casino sites incorporate a piece of technology that ensures that there is no cheating going on – from the site operators or the player. The name of this technology is Provably Fair’.
Some people who might not be sure about signing up for computer controlled casino games should take the use of this technology as a sign that as a customer account holder you have a completely honest chance of winning on the games.
Provably fair technology makes it possible to check on any suspicious plays using a bitcoin cryptographic function to check that the outcome of the game was fair. You can usually check that the game you are playing uses Provably Fair on the individual sites. But what you will probably find is that the casinos make a big thing of having provably fair as they know that this a great marketing tool for signing up more customers.
There are different processes depending on whether you are playing card games, slots or bitcoin roulette, but the algorithm will be read and will show up any discrepancies.
The provably fair technology can tell if there has been any interference in a game’s algorithm and/or pay out. Having the security of knowing that the games are completely above board gives customers great piece of mind when it comes to their accounts. And it is obviously also good for the casinos themselves as they can check on any suspicious winning streaks from their account holders.
Betting on the Go
Online casinos know that their customer account holders demand all the latest technology and the easiest way to play their games; otherwise they will simply look elsewhere for their enjoyment and betting.
That is why nearly all betting sites – including casino and bitcoin casino sites – give their customers the chance to play on their smartphones or tablet devices. People bet in different ways than they used to. The leap from physical bookies and casinos to online sites was huge and opened up the market to a whole new customer base. And being able to bet on the go has just helped that grow even more.
Depending on the betting company you will be able to either download an app to your device or simply play through your browser as normal. All accounts are completely synced up so whatever you are playing on your computer or laptop at home will be continued once you leave the house and play on your mobile phone.
Downloadable apps are always free and can be found in the iTunes app store if you have an Apple device. Android device users will generally need to follow a link on the casino site to download the app as Google does not allow betting apps in their store.
If you are using bitcoins to bet with this is even more convenient as many of the bitcoin wallets have their own apps and customers can have all their information and currency in one place knowing that the levels of security are so high that they have nothing to be afraid of.
Hopefully you will have seen that using bitcoin casino sites is very straightforward and easy for customers who have little or no experience of betting online.
But all bitcoin casino sites have their customer support teams in place if there are any issues that customers need help with. It could be just asking about how a particular game is played, to forgotten usernames and passwords. Whatever the problem is the help team should be able to sort it out.
These support teams can usually be reached by phone or email – or in many cases using a live chat facility. Getting your problems solved via instant messaging really saves time and being able to interact with the support desk in real time should rectify any issues that you are facing.
All contact details for all the casino sites will be online.
You can find out more about bitcoins and the casinos themselves on the individual betting sites but here are a few frequently asked questions about the general use of bitcoins in online casinos to give you a bit more piece of mind and information before signing up for your new account.
Are bitcoin casinos legal?
As bitcoin is a relatively new currency – and due to their decentralised nature – they have attracted various scare stories concerning who uses them and some potential customers may be put off registering for an account. This idea of legality can be further questioned if you are playing in the United States as there are regions of the country that have very strict laws concerning online betting. In fact as bitcoin is not an actual physical currency, US laws do not recognise it as a currency in the same way so it is actually easier to play at a bitcoin casino than many others! You may find that IP addresses from certain countries are blocked from using some sites but the use of bitcoin for online betting is perfectly legal.
Are winnings paid back in bitcoins?
Hopefully this question will be relevant as you will be winning so much! As with other currencies and payment methods on other online betting sites, the bookie will generally pay out winnings in the same manner as they were deposited or bet with. If you use a debit card to link up your bank account to your betting account then when you withdraw money it will use that method. And it’s the same with bitcoins. If you are using an online casino bitcoin site then you will be paid your winnings in bitcoins into your wallet.
Are there any disadvantages to using bitcoins for your betting?
With all the advantages to be found with betting with bitcoins at online casinos it is only natural to wonder whether it is too good to be true. We have covered some of the questions surrounding the use of bitcoins online on this site but as it is a relatively new currency – especially when it comes to online betting – we understand that potential customers want to know for sure that their money is safe. The only thing with bitcoins is that the currency is fairly volatile and its exchange rates can vary from day to day. This is only really because of the newness of it all and once more people start using and accepting it that will soon disappear.
Online Casino Bitcoin is Here to stay
Whether it is for an exciting slot game experience or for an adrenaline-filled bitcoin roulette bet, the use of bitcoins in online betting is definitely here to stay. Initial confusion or lack of knowledge has gradually disappeared to the extent that new bitcoin casinos are being set up all the time.
This can only be good for customers as it means more and more welcome promotions involving bitcoins. Using the currency can make it much easier to play as well, knowing that your transactions will be quicker and safer than using some of the more traditional payment methods.
Online casinos such as Betchain, Bitstarz and Bitcasino are leading the way for this betting revolution so make sure that you do your research into which site is best for you and get involved!