Bitcoin
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Bitcoin - Payment Method for Online Casinos

Do you want to play at online casinos with Bitcoins as your payment method? We have a complete list over all the best casinos that has Bitcoin payments. Basically, Bitcoin is virtual money. It is actually the first “crypto currency” (electronic money). This currency was created by an unknown programmer under the pseudonym Satoci Nakamoto.

How does Deposits and Withdrawals work?

If you own Bitcoins you can now play all of your favorite online casino games from Microgaming and Playtech. When you have Bitcoins the deposit and withdrawal time is really good compared with other payment methods. In addition to this, the security level is super-high.

 

So how do you get Bitcoins?

Bitcoin is a unique payment method that isn’t linked to real money. Bitcoin is electronic money and its own currency. Here are a few examples how you can get Bitcoins:


  • Buy Bitcoins from specific casino sites.
  • Buy Bitcoins on exchange websites.
  • Buy Bitcoins directly from Bitcoin.
  • You can earn Bitcoins by selling goods or providing services online.
  • You can earn Bitcoins by giving some of your computers memory to Bitcoin mining.

 

Step 1: First, you need to visit bitcoin.org and get a wallet for your Bitcoins. There are different kinds of wallets that you can use and you will find more information on their website

 

Step 2: Once you have your wallet you can start getting Bitcoins. You can either have a friend that can give you some or you can buy or earn them.

 

Step 3: With Bitcoins in your wallet you can play at all the online casinos at this page. When you make your first deposit, choose Bitcoin as your prefered payment method.

Advantages with this Payment Method

  • Faster transactions than normal bank transfers.
  • Deposits and withdrawals are completely anonymous.
  • Bitcoin has a high security payment system that is incredibly safe.
  • Usually there are very low costs attached with this payment method.

Disadvantages with this Payment Method

  • The biggest disadvantage with this payment method is that it is very uncommon. This can of course restrict your choices and occasionally you won’t find your favorite casino games.
  • Bitcoin isn’t a simple payment method, it’s quite complicated and you need to install a specific software on your computer in order to reach your Bitcoin wallet.
  • One of the biggest issues with Bitcoin as a payment method is also one of its major advantages, it is totally unregulated by the government. If a casino shuts down and takes your Bitcoins with them you have no securities for your money. Payments are always irreversible once a transaction is completed.

Bitcoin - Review and Conclusion

Bitcoin was launched in 2009 and the developer behind it came up with a specific currency algorithm. Nobody knows where this man is or what his name is. Bitcoin has the basic functions and properties of conventional money, which includes:


  • You can trade with it.
  • You can save money in it.
  • You can buy things with it.

 

Just as Europe has the Euro, the United states have the Dollar, the internet has the currency Bitcoin. In 2013 the value of Bitcoin increased from $200 to $1000 dollar within one month! We can understand that most people don’t trust this currency entirely, but some casinos now take payments from Bitcoin which is really great if you have invested in this currency.

 

Bitcoin is essentially a decentralized virtual currency. This means that the currency doesn’t exist in the physical world like real cash. It doesn’t even have a central bank like the federal reserve. Yet, it is used by more than 100000 people all over the world. Trading in millions on the currency exchanges each day. More and more people feel that they can trust this currency and today there are more and more online casinos that are offering this payment method.

 

There are many advantages with using Bitcoins as a payment method at online casinos. For one, the cost of withdrawing and depositing money is quite low. Secondly the security is super-high. In these transactions, you have complete anonymity. Compared with other payment methods Bitcoin is much faster.

 

However, there are a couple of disadvantages as well. For one, it is quite complicated to use. Secondly, it is a very uncommon payment solution and few online casinos are offering payments with Bitcoins. All in all, this is a tricky payment method with a lot of risks attached. If you don’t know anything about Bitcoins, don’t use it.