Casino News, Technology & Sport Editor
Are you an active Bitcoin trader, or do you at least keep a little Bitcoin stashed away in a crypto wallet somewhere? Wouldn’t it be nice to play online casinos with Bitcoins? Well, now you can. Not in all the casinos that are out there, but quite a few., as more and more casinos are signalling that they want to jump on the bandwagon. The future is certainly looking bright for Bitcoin users. If you already know a little about Bitcoin and the other cryptocurrencies you surely know that these digital coins have many advantages. And so does use them for casino payments. So, let’s have a look at this interesting, new phenomenon and learn how it may benefit casino players.
Your first challenge if you want to pay with Bitcoin in casinos is to find a real money casino that accepts the currency. You can refer to our list of secure and recommended online Australian casinos that accept Bitcoin payments. Some new casinos online have started up only accepting Bitcoin and other cryptocurrencies, others accept Bitcoin as well as Euros, US Dollar and Aussie Dollars. It all depends on the casino, so you need to do some research here. But the trend has certainly taken off and we could face a complete revolution here, for some experts believe that casinos that do not accept Bitcoin in the future, will not survive.
There are many advantages of using Bitcoins as a payment option. First of all, there are virtually no security concerns. All transactions are encrypted and safe, and – not least – anonymous. Leading Bitcoin experts feel that Bitcoin is going to change the way the whole Internet is working, and some predict that in a few years all payments will be done on the Bitcoin blockchain. Whether they’re right or wrong is still an open question, but the times are certainly exciting. One of the fascinating things about Bitcoins is that the currency is extremely volatile. This means it may surge several hundred dollars in a few days, or perhaps even fall. As an investment, it could be risky, but once it establishes itself better it could work perfectly for payments, like casino payments.
Most bitcoin withdrawals and deposits occur instantly. This means funds turn up in your bankroll at the click of a button. If you win and wish to cash out by withdrawing funds via bitcoin you will have it in your bitcoin wallet quickly.
Another advantage of a bitcoin casino is that the casino becomes a minimum deposit casino. The deposit can be lower than when depositing with fiat currency. A minimum $10 AUD deposit is roughly 0.00050 BTC.
Imagine how nice it would be to be able to skip using your regular VISA or MasterCard for casino deposits. With Bitcoin, you do not have to enter your name, your card number or any other kind of personal information. You just make a transfer from your Bitcoin address to the casino. The transaction is validated almost instantly, so you can start playing within seconds, or at the very maximum, within minutes. There has never been a safer or quicker way to pay online. And if safety is an issue for you, Bitcoin will always be a better choice than any card. But the really revolutionary use of Bitcoin when it comes to online casinos may not even be making a deposit, but receiving a payment.
Because Bitcoin casino withdrawals have always been a thorny issue. First of all, the casinos themselves need to employ many people and use many man-hours to confirm the different prizes. This is done to make sure that all winners get their share, and that the money is sent to the right person. But with a Bitcoin and blockchain-controlled system, this may be done automatically. This means that online casino is going to save lots of money. This is going to be such an important issue for most casinos that this alone will force most casinos to make that change to becoming Bitcoin-enabled casinos. Everything will become safer, quicker, and less expensive. What’s not to like?
Another cool factor is that once Bitcoin gambling becomes more and more common you will see hundreds of thousands of people, maybe even millions, keeping all of their casino stashes as Bitcoins. This could, again, help keep the Bitcoin value on the rise, which means that you could start making money off your winnings even when the money is sitting right on your casino account. Bitcoin transactions only take a few minutes, at the top, so if you see that the value of the Bitcoin is falling you can just ask your casino for a withdrawal, and you will get your money to your Bitcoin wallet within minutes. Just imagine the extreme benefits of this both for the customer and the casino. Bitcoin, or any other cryptocurrency, may completely revolutionize the way we pay online casinos, and receive money from them.
Now, it could take days to get a withdrawal. But with Bitcoin, the whole business can be done in a flash. Customer satisfaction will increase, and the fact that Bitcoins speeds up transactions will in itself be a reason for why casinos and customers alike will want to start using Bitcoin all over the line. If you find this whole idea of Bitcoin gambling interesting, do some research to find all casinos that allow you to make deposits and withdrawals in Bitcoins. Check them out, and then get the necessary tools so that you can begin buying and selling Bitcoins. We don’t know about you, but being able to pay, and get paid, in Bitcoin is such an advance for online casinos that we recommend all serious players to start looking out for this now, to be fully prepared for the day when Bitcoin payments most likely will be the major way of paying casinos, and the casinos paying you.
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