Bitcoin Casino: You need to know this

There is a good chance that you have heard of the "Bitcoin". Bitcoin is one of the most famous types of cryptocurrency of the moment. This is partly due to the strong periods of growth that Bitcoin knew successively. This ensured that many companies jumped on this Bitcoin hype. Online casinos could also not be left behind.

So nowadays you can start an online slot machine or go all-in with poker with credit that you bought via Bitcoin. Below we explain what Bitcoin is exactly and especially how you can use bitcoins in a online casinoo.

What exactly is such a bitcoin?

A Bitcoin is best comparable to a digital currency. You can pay for things with it, just like you can do with the regular euro. Large benefits mentioned when using crypto currency are, for example, that there is no intermediary such as a bank and that all transactions can take place completely anonymously.

To buy bitcoins or other cryptocurrencies, you must first purchase a special online wallet for this. Such a wallet ensures that all your bitcoins are stored and secured. You can then mine Bitcoins yourself or simply purchase it via a exchange office, where the second option is much easier.

Bitcoins are a very reliable way of paying. Because there is no question of the intervention of a bank, all transactions can be done completely anonymously. No purchase with Bitcoin can therefore be traced directly to you. Because there is no central body between buyers and sellers, it is also more difficult to regulate the value of the coin. This is completely dependent on the supply and demand of the coin. It can therefore rock hard.

Pay with bitcoins in casinos

Online casinos are known to quickly respond to all kinds of trends on the internet. For example, they are usually the first to add new developments, security options and such functions to their site. That is why they also quickly implemented the option to pay via Bitcoin. There are also even casinos where you can only pay with Bitcoin and where currencies such as the euro are not accepted.

Bitcoin has a few major benefits to use at online casinos. This is mainly related to the anonymity around the coin. This way you can easily and easily raise your balance via a QR code and this balance is on your account within an instant. In addition, gambling itself is also completely anonymous. Private data is not stored anywhere, because they are simply not known anywhere from the payment. Playing becomes even safer in this way. Although everything goes so anonymous, you are still obliged to pay gambling tax on victories higher than the standard 449 euros.

Pay and pay in Bitcoin

As mentioned, Bitcoin Casino can be paid directly from your online wallet.

Even if you have won, you can easily have your balance paid out in this digital currency. By requesting that you want to have your profit paid out, you quickly get your bitcoins back in your wallet. Pay attention to what value the online casino uses for the payouts. Some count with the current course, while others look at the value at the time of the most recent deposit.

Always pay attention to the current course and the method of payment during the payment. Because the value of Bitcoin can fluctuate so enormously, it can save a good amount of money to pay at a specific time. Therefore, make sure that your casino will deal with payouts quickly and adequately to prevent such surprises!

To prevent these problems, there are also a number of casinos that you will not pay in Bitcoin. You simply get your profits back in euros.

At which online casinos can you play with Bitcoin?

You can often see from the licenses issued that an online casino carries if they accept Bitcoin as a valid payment method. The most popular casinos are not very keen in this new way of paying and that has everything to do with their licenses. The gambling authorities of, for example, Malta or Great Britain, important and prominent license providers, have not yet implemented rules regarding Bitcoin and other cryptocurrencies. For online casinos this is an extra threshold to work with bitcoins yourself.

Licenses from other gambling authorities such as Curaçao, Costa Rica or other smaller countries may already have been calculated for this. In general, these casinos are unfortunately less reliable than casinos that have licenses from larger countries. Single casinos can be perfectly reliable, but do extra good research.

You can also make a simple distinction between online casinos where you can also pay with Bitcoin and online casinos where you can only pay with Bitcoin. The latter species, also called Bitcoin-only, therefore only accepts deposits in the form of crypto currency. At the other casinos you can also make deposits in, for example, euros.