Bitcoin and Casinos in India
Bitcoin as a method of payment has blown through the roof over the years. Many people believe that it is associated with how some people have become multi-millionaires by gambling with Bitcoin.
However, Bitcoin is not just a new version of the penny stock or for players at the casinos – It has also proven to be one of the best ways to do transactions.
However, you are missing out on many benefits if you are not playing with the Bitcoin cryptocurrency – Some of which we will be pointing out on this page.
What is Bitcoin?
Bitcoin (BTC) is a digital cryptocurrency that allows online casino players to easily and safely deposit and withdraw money from their Bitcoin casino accounts. It is this safety and ease of use that is perhaps the reason why the popularity of Bitcoin casinos is on the rise. Here is a guide to help any casino enthusiast who wants to gamble at a Bitcoin casino.
Casinos that accept Bitcoins
What are Bitcoin Casinos?
Bitcoin Casinos is an umbrella term that refers to all online casinos that have incorporated Bitcoins in their payment methods. One way Bitcoin differs from other currencies like euro, pounds sterling, and the US dollar is that it operates without any third party.
Instead, BTC functions through what is known as a peer-to-peer marketplace, meaning that it (BTCs) can only be transferred between users. To transfer Bitcoins, both the sender and the receiver must have a Bitcoin address, which is typically a code containing 27 to 34 numbers and letters.
Although there are bitcoin live casinos that allow players to transact exclusively in Bitcoins, there are those casinos where bitcoin is only but one of a number of currencies listed for use by players. Casinos who support multiple currencies where Bitcoin is one of them are called hybrid casinos. These casinos accept bitcoin deposits and withdrawals, but the deposited funds may be converted into US dollars, pounds sterling, euros, or any other traditional currency, by the casinos.
Which are the best online casinos with Bitcoin?
The best bitcoin casinos are
How to Get Bitcoins?
In most cases, buyers use bank transfer like wire, ACH, or SEPA to get bitcoins. Although not as common, other payment methods like e-wallets, credit cards, and regional payment vouchers are also used.
Typically, bitcoin purchases are made based on the current market rates, and they occur instantly. The buyer has to pay a small commission for the currency exchange.
How to Deposit into Your Casino Account?
To deposit into one’s casino account using bitcoin, the player must have a bitcoin address, which is given after registration. Bitcoin deposits are usually instant, and no fee is charged.
For security reasons, all the deposits go through the block-chain confirmation process. This hardly lasts an hour before the funds are reflected in the player’s account. The funds will be ready for use once they appear in the player’s account.
It is important for players to be on red alert about any promotions offered by casinos to players who deposit using bitcoins. Most casinos offer bonuses and other perks, which can be utilized to boost the player’s chances of winning. Thus, it pays to check the casino’s promotion page for any running promotions.
How to Cash out Your Winnings?
Cashing out through bitcoin is a simple, straightforward process. The player is required first to send the coins to their exchange platform. He or she will sell the coins to other traders on the platform before requesting a withdrawal through their preferred method of payment.
For those who want to wait for better prices before they can sell their bitcoins, it is advisable to store their money in their own bitcoin wallet, which can be downloaded. The wallet should be well protected with a password.
Perks of Playing with Bitcoins
Thanks to the benefits they offer, bitcoin casinos have become so popular today. Although there are tons of benefits that come with playing in these casinos, below are most of the common options.
No Processing Fees
Unlike many other online casinos out there, these casinos provide free-of-charge payment processing, which is usually safe and easy. While there are non-bitcoin casinos that don’t charge any processing fees, there are those that charge as high as 10% of winnings, especially in unregulated markets. There is no such thing as processing fees at bitcoin casinos.
Funds Stay Safe
Bitcoin does not operate with third parties, such as a bank; hence, the funds cannot be withheld as would happen with traditional currencies, which are tied to third parties.
Although this may not be an issue for online casino players from regulated countries, it is indeed a big deal for players in unregulated markets like the US, where freezing of funds is not a foreign thing. With Bitcoin allowing players to have full control over their money, freezing cannot occur.
You stay Anonymous
The Blockchain technology ensures anonymous cryptocurrency transactions between the players and operators, so there is no need for players to provide any of their data.
This is an important aspect when it comes to online gambling. In most cases, a bitcoin casino will need the player to provide their email address only in the event of password recovery. The player’s name, address, and other personal details are generally not required by the casino.
Speedy Deposit and Withdrawal
All cryptocurrencies are carried without interference or interruption from a third party, unlike Banks and other financial institutions. Therefore there is no chance of experiencing slow transactions since it is only between the operator and user.
Enormous Bitcoin Bonuses
Another interesting benefit of playing with Bitcoins at casinos is the level at which you receive great bonuses, and you get to be eligible for various promotions.
On occasions whereby you get to hit massive bonuses, bitcoin is the fastest and easiest way for you. Due to the simplicity of keeping money with Crypto, Casinos highly recommends you utilizing it.
Security is another very important thing to consider – with good security; you are free from danger or threats. The technology supporting cryptocurrencies gives access to payment history; therefore, all transactions’
Games at Bitcoin Casinos
Bitcoin casinos are no different from other online casinos when it comes to game selection. From slots to table games, bitcoin casinos have them all. Each game is fair thanks to the new, trendy concept of provably fair gaming. The game’s fairness can easily be determined by entering bet ID or any other information as may be required by the casino.