Online casinos have really taken off in the past few decades because they are now a better alternative to conventional casinos. This is due to the numerous advantages that online casinos have. One big advantage is the payout rates, which are significantly higher. This is due to the lower costs of online casinos. Another advantage is the usability, as online casinos are open at any time of the day or night.
In addition, there are often numerous payment options available, so that every customer has the possibility to transfer money to the Game account deposit. In addition, online casinos have more opportunities to incorporate new trends into the assortment. One trend that has been causing a stir lately is bitcoin. In the meantime, it is possible to make payments with this cryptocurrency at some online casinos. The following text will deal with the so-called Bitcoin casinos and explain important details about them.
Which online casinos support the cryptocurrency Bitcoin?
- Vegas Casino
- Ares Casino
- 77 Jackpot
What is the cryptocurrency Bitcoin?
Bitcoin is a digital currency that was invented in 2009. This currency works without an independent central bank, as a peer-to-peer transaction system is used. The transfer, generation as well as the verification of the cryptocurrency is done by an open-source software.
How can interested parties acquire Bitcoin?
Basically, there is the possibility to acquire Bitcoins on exchange markets. Money can be donated there and subsequently the customer receives a certain number of Bitcoins. Bitcoin exchanges are:
Another variant is the purchase of Bitcoins from other people who own Bitcoins and want to sell them. Here, the payment is dependent on the seller, as he or she can exchange the Bitcoins for anything in principle. In most countries, Bitcoins can be bought with cash, credit card or other payment options. Anyone who decides to buy Bitcoins should study the exchange rate carefully, as it is very volatile. Ideally, Bitcoins should be purchased as cheaply as possible.
Where are the individual currency units kept?
If a customer wants to purchase bitcoins, he or she needs an electronic wallet to store the individual currency units. All further transactions are carried out from this electronic wallet. It can be used to receive, send and store the currency units. There are two different types of electronic wallets for the cryptocurrency Bitcoin. On the one hand, software can be installed on the hard drive that supports the cryptocurrency, and on the other hand, a web-based service provider can be used. Both variants have advantages and disadvantages that customers have to weigh up against each other.
How long does a transaction with Bitcoin take?
When making payments in an online casino, the duration of the transaction is very important, as customers usually want to play immediately. The biggest disadvantage of the bank transfer is the possible waiting time of up to five business days. This is not the case with cryptocurrency because transactions are usually processed immediately. Especially for small amounts, the money is immediately available in the target account. This applies to both deposits and withdrawals. For higher sums, the payment may take a little longer. In this case, the transaction is marked as "pending". In most cases, the waiting time is two to ten hours. With Bitcoin, transactions can be carried out quickly and smoothly, regardless of whether the amounts are small or large. The maximum waiting time is usually ten hours.
Is gambling with the cryptocurrency Bitcoin legal?
In principle, this question can be answered in the affirmative, because gambling with the cryptocurrency is Online Casinos are legal. To date, there is no separate regulation for gambling with Bitcoin. Therefore, the currency units of the cryptocurrency are considered a legal variant for payments.
What alternative payment methods are available?
Customers who are sceptical about the cryptocurrency or do not have enough currency units can also fall back on other payment options at almost all online casinos. Often, the classic payment options of bank transfer and credit card are available.
However, electronic wallets and credit cards can usually be used as well. Visa and Mastercard credit cards can usually be used. The same applies to bank transfers, but there is a major disadvantage as this payment option takes up to five working days to process a transaction.
In most cases, the providers Skrill, Neteller and PayPal come into question as electronic wallets. Registration is necessary for all providers. The money can then be transferred to the target account within a few moments. PayPal also offers recognised buyer protection. Last but not least, there are credit cards, which, just like Bitcoin, allow anonymous transactions.
Overview of alternative payment methods
|PayPal||Instant bank transfer|
In the meantime, numerous online casinos are available that accept the cryptocurrency Bitcoin as a means of payment. Those who want to use such an online casino need currency units of the digital currency as well as an electronic wallet to store the currency units. However, most online casinos provide other payment options so that every customer can deposit money into the gaming account. Basically, customers should make sure to buy Bitcoins at a reasonable price, as the prices fluctuate strongly and are very volatile.
FREQUENTLY ASKED QUESTIONS
Some online casinos that accept bitcoin payments are Cloudbet, bitStarz, Vegas Casino, Ares Casino and 77 Jackpot.
Bitcoin transactions are usually processed immediately, especially for smaller amounts. For larger amounts, it can take between 2 and 10 hours for the transaction to be completed.
Yes, most online casinos offer alternative payment methods such as Visa, MasterCard, Skrill, Neteller, PayPal, Sofortüberweisung, Paysafecard and Giropay.