Your way to pay: Bitcoin Casinos

Bitcoin is essentially recognised as an international cryptocurrency and an open-source payment method that is not controlled by any third parties, cutting out the middle man entirely and in turn lowering the cost of any online transaction. It is safe and secure as there is no actual cash on hand, rather the transferral of cash that is a digital currency speedily deposited at selected participating companies, businesses and online merchants.

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Created in 2009, Bitcoin is growing at an exponential rate is fast becoming a popular form of online payment. Bitcoin was the first cryptocurrency to be built on the blockchain technology, this revolutionary technology is now the basis of not only hundreds of different cryptocurrencies, but is also currently being used in other areas of distributed ledger technologies. Using Bitcoin as a payment method is beneficial in terms of anonymity, secure online transactional services and there is an increase in the various entities that are using Bitcoin.

Top Bitcoin Online CasinosDecember 2018
1.
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4/5

How we rate Bitcoin

Bitcoin is a leap forward in distributed electronic payments, meaning that it is a safe and secure method of making any transaction transferals worldwide and is fast becoming a leading form of transactional online payment. Although not all online casinos have adopted Bitcoin as one of their payment platforms, many renowned online casinos have already implemented Bitcoin as one of their preferred transaction services, giving it a high ranking among leading New Zealand online casinos. Bitcoin adoption is changing the way businesses process financial transactions, offering a speedy and user friendly alternative form of monetary funds that can benefit players in a positive way.

Why use Bitcoin at online casinos?

Bitcoin is a safe and trusted method of payment amongst top online casinos who are taking the initiative to continuously outgrow their competitors. Being at the forefront of innovative thinking, these casinos are always looking for ways to create a safer and simplified financial transactional environment for their players. Another advantage of using Bitcoin is that no personal details are divulged to any third parties, as all transactions are anonymous, ensuring the utmost privacy for all users.

As a result of the recent interest in Bitcoin on an international level, numerous Bitcoin and other crypto wallets have sprung into existence. These wallet providers facilitate the transferring of Bitcoins to and from one entity to another. A prime example is Cubits, an internationally recognized Bitcoin wallet that is used to transact with Bitcoin. Any person interested in creating a wallet can simply log onto cubits.com and create an account where they can buy and sell Bitcoin, primarily using this as their online wallet. Cubits is a European based online company that transacts Bitcoin that allows users to buy and sell the coin as desired. Up to 17 different currencies can be used in exchange for the coin and can instantly be available for immediate transactions. Purchasing Bitcoin requires no identification or documentation, which makes the buying process almost instantaneous. Apart from this, the transaction that takes places when using Bitcoin is encrypted, allowing for safe and secure financial transactions over the web.

For players looking to create a Cubits wallet, all that is required is first and last name information, an email address, a password and a preferred currency. Once the terms and conditions have been accepted, potential members will be directed to a page where they will need to verify their account through an automated short message service (SMS) and finally the last step would be to make a deposit.

Drawback

One of the downsides of using Bitcoin is that not all online merchants accept this as a payment method. However, even this is evolving and more online and land based companies are beginning to take initiative as Bitcoin is fast becoming a leading form of payment. Bitcoin may also seem more expensive as welcome bonuses at online casino mostly offer 1 BTC and a number of free spins as a welcome bonus package. Players are essentially used to seeing a large percentage of cash on a match deposit bonus, and while this isn’t the case when signing up with Bitcoin, 1 Bitcoin is high in cash value and is a generous offer.

Making deposits with Bitcoin

To make an online deposit using Bitcoin is one of the most simplistic forms of online funds transfers for anyone that has access to Bitcoins. Making deposits with Bitcoin is a relatively simple process that only requires either a desktop or online wallet. The latter is the recommended wallet to use to make payments or deposits as it doesn’t require players to download and install any software, as one would when installing a desktop wallet. Once the online wallet has been created, either through the Bitcoin site itself or Cubits.com, players can move onto the next step which requires them to load their wallets with these crypto coins.  There are a number of ways to gain access to these coins, some of which include:

  • Bitcoin Wallet
  • Mining Bitcoins
  • Bitcoin Exchange Markets (generally on casino sites as an exchange option)

Once a user has exchanged cash for Bitcoins, they can then proceed to the online casino of their choice. Above listed casinos accept Bitcoin as a form of payment alternatively there are many online casinos that are solely dedicated to the usage of BTC and only accept this as a method of payment and in turn only payout in this crypto currency.

Withdrawing with Bitcoins

When it comes to withdrawing Bitcoins from online casinos in NZ, the method is safe as it is simple. Players will need to determine the amount of BTC they would like to withdraw from their online wallet and ensure that there are sufficient funds available in order to do so. If you have signed up with an online casino using a bonus code or a welcome package, you would first need to ensure that all wagering requirements have been met before making a withdrawal or you will not be able to access the funds. The following steps are usually required to make a withdrawal from an online casino that transacts BTC:

  • Sign into your online casino wallet using your login details
  • Navigate to the ‘Withdraw’ option
  • In the Bitcoin section an address will be required, enter the address for the Bitcoin wallet
  • Lastly, enter the amount that should be withdrawn
  • Confirm payment
  • Proceed to casino homepage

Where can I get Bitcoins?

Most online casinos have a ‘Get Bitcoin’ option which allows players to purchase these coins efficiently and conveniently. There are step by step guidelines that help you complete this process, however should there be no such option, you can always get Bitcoins from online sites such as Cubits or from the Bitcoin site itself. All transactions can be made conveniently online and all transactions are safe and secure as long as it is a legitimate site as there a considerate amount of fraudulent theft sites.

Bottom Line

The use of Bitcoin over the past few years has increased exponentially and is becoming more accessible for online casino users to transact. As more players are using these coins to play safe and securely, many online casinos are adopting this as a form of payment. Because of this, sites are being upgraded, games are being modernised and players benefit from all of these factors, giving them the best gaming experience.

Bitcoin's success has opened the door to over a thousand cryptocurrency coins. These coins are being traded on Bitcoin currency exchanges and their acceptance by the general population is pathing a whole new way of looking at financial transactions. A key advantage for the use of Bitcoin is the fact that no governing body owns the network or has the ability to manipulate it. This has been one of the key disruptive technologies that has dis-empowered banks and other financial institutions from monopolizing the financial industry. It is a safe and secure method of payment at trending online casinos and protects the identity of its users, making it one of the top preferred methods of payment.

If you are not using or unfamiliar with Bitcoin, the best time to get involved was 5 years ago, the next best time is today! Search online for any recognized wallet providers such as cubits, which you can then use to send and receive bitcoin and begin your journey into the new world of cryptographic currency and become a part of the new revolution that so many online casinos have already adopted.

 

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Last Updated: July 1, 2018