Since their introduction a few years ago, cryptocurrencies have been used in more and more areas, including online casinos. However, this particular payment method has some features of its own. What is a cryptocurrency? What is a bitcoin casino? How to properly use your BTC in an online casino? Thanks to this article you will learn everything you need to know about Bitcoins and you will be able to play your real money in your favorite German casinos.
Historical point: Learn more about Bitcoin (BTC) before you play
Bitcoin is a cryptocurrency created by an anonymous person calling himself Satoshi Nakamoto in 2008 after the global financial crisis. Its purpose at the time of its creation was to combat the stranglehold of banks on global finance by providing secure peer-to-peer virtual currency exchange systems. The creation of Bitcoin was accompanied by the creation of the blockchain (or chain of blocks in complete list of trusted online gambling houses accepting bitcoins), which is a registry that can be freely consulted and lists all transactions made. Bitcoin and the blockchain thus solve the crucial trust problem. It is servers that validate transactions thanks to their computing power. Thus, Bitcoin is a decentralized currency that works with the computing power of trusted computers owned by individuals around the world. Its dazzling success has led to the creation of many other well-known competing cryptocurrency projects, such as Ethereum, Ripple or Litecoin, and is the subject of considerable speculation about its value. This payment method is used in the world of online casino today.
Using the payment method in a Bitcoin online casino.
Now that you know more about Bitcoin, it is normal to wonder about using Bitcoin in your online casino games. In this section, we will explain why this particular payment method is possible and does not carry more risk than a traditional payment method. If you have any doubts, you can also contact your online casino’s customer service and they will be happy to help you.
Should we get into online gambling with BTC?
Is it safe to play Bitcoin at an online casino that accepts Bitcoin as a deposit or payment method? Like any gambling, betting with your own money is always risky, which is why it is essential to have control over your gambling and investments, even if you have to ask for help to do so. Reliable online casinos that accept Bitcoin offer a dedicated page for players to learn how to gamble responsibly and what to do if they encounter difficulties. If you are aware of it, playing Bitcoin at an online casino is no more dangerous than playing with a player account credited via credit card, bank transfer or e-wallet.
How do you use your Bitcoins to play at an online casino?
Let’s now discover how to use this cryptocurrency to top up your player account or collect your winnings. Once again, online casinos that accept Bitcoin don’t set any specific rules for using this payment method, although they reserve the right to tie the use of this payment method to a minimum amount, as with other deposit or withdrawal methods.
The list of the best casinos that accept Bitcoin.
After the speculative bubble of December 2017, in which the price of Bitcoin rose to over 10,000 euros per unit, everyone must have heard about it. It is not necessary to have a whole Bitcoin and therefore deposit such a sum to benefit from it, since it is divided into fractions that can be up to 0.00000001 Bitcoin. This is then called 1 Satoshi. Bitcoin is not just a speculative asset. It is starting to become a very serious alternative payment method. You no longer need to use your credit card, you no longer need to worry about what currency is accepted or whether you need to withdraw your money in dollars. Bitcoin can now be used by online casino players for all games. The first step to this is to have an e-wallet that accepts bitcoin. It is very easy to create one, visit the Coinbase website to do so. Then you need to convert your Euros into Bitcoin and then transfer your Bitcoin to the casino. Then use this cryptogram and your payment portfolios to make your first deposit safely.
There are very few online casinos that accept Bitcoin as an online payment method, although this number is growing exponentially. In fact, online casinos are regulated by the Regulatory Authority for Online Gambling (ARJEL). It is this body that issues licenses for operations in the hex. Bitcoin, however, is not allowed in casinos because it is considered a non-transparent means of payment that allows for some discretion in transactions.
However, there are casinos that offer the possibility to use Bitcoin as a means of payment abroad. So, if you live outside of Philippines or have the ability to open an account abroad, you can have bitcoin casinos at your disposal. Similarly, there are casinos that revolve around cryptocurrencies and offer the possibility of betting directly from Bitcoin to roulette. These casinos offer these methods to address the privacy concerns of some customers.