The past few years have gradually brought Bitcoin to the fore as a payment option. A select group of computer specialists conceived this new digital currency back in 2008, and now it can be used for mainstream commerce. Bitcoin casinos have begun to emerge slowly since 2014, with players turning to them for their convenience, security, and low fees.
Best Casino Site that Accept Bitcoin
Paradise Win – This Bitcoin casino is in a position to offer new players a 200% welcome bonus worth up to £50. Those funds can be used on the many great slot games that Paradise Win Casino has to offer, including Choo Choo Slots, New York Gangs, Summer Dream, and House of Scare.
LimoPlay – New players to LimoPlay Casino can choose to claim a welcome package of £1,000 or 4 Bitcoins. Both options will also come with 100 free spins to be used on slot games Bomanji and FruitZen. There are many more to slots to play, in addition to roulette, blackjack, table games, and more.
Starting to Use Bitcoin
After selecting a Bitcoin wallet, players can go to a Bitcoin currency exchange where they will be able to purchase the value that they require. Typically, this will be completed using a credit card or some type of e-wallet like PayPal or Neteller.
However, some casinos can streamline the process by letting you make a conversion with them instead. This can be much more convenient than going to a Bitcoin currency exchange. Either way, you need to have a Bitcoin wallet in place.
What is a Bitcoin Wallet?
A Bitcoin wallet is simply an online bank account where you can store and transfer the cryptocurrency. These function similarly to e-wallets like Skrill, which enable you to move your funds over to an online casino without having to process a credit card payment.
There are quite a lot of e-wallets out there to choose from. Over at the official Bitcoin website, there is a lot of information on hand to help people to choose one for them. Some of the best-known wallets include Bitcoin Core, Bitcoin Wallet, and Electrum.
Different Types of Bitcoin Casino
The purest type of Bitcoin casino is the one that does not accept payments with any other currency on the market. However, the entire experience can sometimes suffer because these casino are not as committed to providing diverse gaming experiences for players.
Thankfully, more and more hybrid options are entering the industry. Essentially, these casinos integrate Bitcoin payments alongside various other options such as credit cards, e-wallets, and e-vouchers. These are so appealing because the dedication to choice often extends into game selection, device compatibility, and range of promotions.
Moving forward, it is highly likely that Bitcoin becomes more widely accepted as a payment method. Online casinos have already demonstrated a clear willingness to embrace financial innovation by integrating e-wallets and e-vouchers alongside credit cards, while also providing enhanced security through SSL encryption.
How Bitcoin Compares to Other Payments
Bitcoin offers the convenience and security of paying and accepting winnings by e-wallet. A Bitcoin wallet will act as a buffer that protects players from risk and allows for them to complete their transactions in an extremely quick timeframe.
Comparatively, it is much more appealing to use Bitcoin than to constantly reach for the credit card. This is because credit card payments can be subject to costly fees that add up considerably over time, whereas Bitcoin only incurs minimal fees.
Pros and Cons of Bitcoin
Bitcoin is worth using for its security, convenience, and lack of fees. This is a payment method and currency that also lets players collect their winnings earlier. Bitcoin winnings are often claimed in a few hours, while credit cards can take a few days.
A slight con is that it’s tougher to come by a Bitcoin casino no deposit bonus, considering that the currency is much more valuable than a standard bonus. For example, there is a £1,000 welcome bonus listed above that is the equivalent of 4 Bitcoins.
Another thing to consider about Bitcoin is that the cryptocurrency can fluctuate greatly, so it is vital to keep a close eye on currency exchanges to ensure that you can profit or avoid losing money as appropriate.
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