Bitcoin casino payment methods
Over the years, the popularity of online Bitcoin casinos has risen significantly. These casinos not only provide gamblers with a wholly anonymous way to deposit and withdraw funds from their accounts but also assure extreme security. With zero deposit fees and remarkably swift transaction processing times, they outperform many other banking methods.
Premier Bitcoin Casinos in the UK
Due to Bitcoin’s unregulated nature, it can navigate through various restrictions that typical FIAT currencies can’t bypass, making it an ideal online payment option for gamblers and investors seeking full control of their funds.
On this page, we delve into what Bitcoin is, how to deposit and withdraw at online casinos using Bitcoin, and identify alternative payment methods that offer equivalent safety, reliability, and beneficial features.
Our team scrutinises hundreds of distinct online casinos every week, zeroing in on licensed, safe, and fair sites that deliver an unparalleled gaming experience. Here’s all you need to understand about the best online casinos in the UK that accept Bitcoin!
Decoding Bitcoin
Bitcoin is a decentralised, blockchain-based platform that facilitates trading, buying, and selling without any oversight or need for an intermediary. Launched in 2009, it enables you to bypass traditional banking systems and legal consultation if you’re crafting a sales contract. The platform, powered by millions of machines creating a “blockchain” of transactions, offers superior security. Each Bitcoin transaction, to be documented on the blockchain, must be verified by a large network of Bitcoin holders, using codes that recognise user’s transactions and wallet in accordance with specific encryption patterns.
Depositing in a Casino via Bitcoin
If you’re indulging in real-money Bitcoin casino games, you can take advantage of various promotions, including no deposit bonuses. Post exhausting these, depositing into your bankroll via Bitcoin is straightforward and can be executed from your computer or mobile device. The procedure might slightly vary across casinos, but they generally follow similar steps. Here’s how you can deposit into your casino account using Bitcoin:
- Register at a top Bitcoin online casino, like the ones we endorse on this page
- Navigate to the Cashier tab of your chosen online casino and opt for Bitcoin
- Enter the minimum deposit required amount or as much as you wish to deposit
- Wait for the funds to reflect in your bankroll (this should be instantaneous when using Bitcoin)
- Start playing your favourite casino games!
Withdrawing from a Casino via Bitcoin
Most betting sites in the UK permit Bitcoin withdrawals, but it’s prudent to confirm this prior to registration. Here’s how you can make a withdrawal using Bitcoin at online casinos:
- Proceed to the Cashier tab and place your request – Before submitting your withdrawal request, ensure you’ve completed all necessary documentation, verified your identity, and satisfied the wagering requirements. You can then head to the Cashier and select the Bitcoin withdrawal option
- Decide on your withdrawal amount – Choose your withdrawal amount ensuring it complies with the casino-set minimum and maximum withdrawal values
- Savour your earnings – Once your winnings appear in your Bitcoin account (typically within 24 hours), you can instantly start enjoying them!
Advantages and Drawbacks of Using Bitcoin in Online Casinos
Every aspect of life comes with its pros and cons, and using Bitcoin for playing at online casinos is no exception. Hence, it’s crucial to scrutinise the terms and conditions concerning Bitcoin and other banking methods at online casinos before registration.
Pros
- Bitcoin’s inherent security due to blockchain technology ensures your online payments are safeguarded against fraudulent activities or third-party interferences
- In contrast to numerous cryptocurrencies, there are either negligible or no charges for using cryptocurrencies at online gaming sites
- Bitcoin operates on a decentralised platform, making it immune to typical banking regulations
Cons
- Despite Bitcoin’s surging popularity, only a handful of online casinos accept it as a deposit/withdrawal method
- Bitcoin, like any cryptocurrency, is subject to extreme volatility, which means exchange rates can plummet, leading to potential losses for users
Untrusted Bitcoin Casino Sites
Our team refrains from endorsing any online casino unless it fulfils our stringent review process criteria. This involves ensuring the casino offers high-quality games, valuable bonuses with fair terms, top-notch customer service, and secure and reliable banking methods. Any Bitcoin online casinos that we deem to be in violation of these guidelines or not truly prioritising players’ interests earn a place on our blacklist, cautioning potential customers to steer clear of them.
Bitcoin Online Casinos: Safety and Security
Despite being a decentralised platform, Bitcoin offers immense safety due to its blockchain technology protection. Any casino that accepts Bitcoin must be licensed and certified by organisations like eCOGRA, which routinely audit gaming sites to confirm the safety of the site and its players. They also ensure the games on offer are fair and free from any manipulation or tampering.
However, there’s one minor issue with Bitcoin – the need to depend on an approved central authority to vouch for the operator’s fairness. The positive news is that all our recommended Bitcoin casinos are safeguarded by all the safety protocols of blockchain and do not need to rely on other auditing companies to confirm their compliance. Encrypted and governed by codes, these platforms have been thoroughly scrutinised by the public and our review team, affirming their adherence to the safety standards of blockchain and cryptocurrencies.
Alternative Payment Options to Bitcoin
Ethereum – Ethereum is the second-largest cryptocurrency after Bitcoin and its major rival. Setting up an Ethereum wallet is incredibly simple and can be linked to your debit card or current account, ready for online trading or casino transactions.
Transferwise – This UK-based money transfer service provides a US debit Mastercard allowing users to transfer money overseas. Except for a 0.45%-3% conversion fee, no additional charges apply to transactions.
Ripple – Ripple is a transfer network capable of facilitating exchanges of various cryptocurrencies, traditional fiat currencies, and high-valued commodities like gold, grains, and oil.
Our Approach to Reviewing and Rating Different Banking Methods
Deposit and Withdrawal Options – We assess the deposit and withdrawal procedures from a player’s perspective, enabling us to evaluate payout speed, withdrawal limits, verification processes, and anything else that may impact payout turnaround times or winnings.
Safety and Security – Your safety is paramount, and this applies to our recommended payment providers as well. We only endorse payment gateways utilising advanced encryption technology and robust user protection services to secure your online activities and details at all times.
Customer Care – Irrespective of the payment method’s credibility, the accessibility of assistance is vital. Hence, we send queries to the customer support team through all communication channels to gauge response times, competence, and customer service quality.
Final Thoughts
Our team rigorously reviews any payment method, focusing on aspects such as device compatibility, service availability, user feedback, and other factors that let us confidently recommend it to our readers.
Why Choose Bitcoin for Online Gambling?
Overall, Bitcoin casinos are an excellent choice for players who prefer to utilise a crypto-wallet for their transactions. Since this currency isn’t governed or regulated, it simplifies payment processing for online casinos. Deposits are typically instant, more reliable, and quicker than other banking methods. Additionally, withdrawals are expedited, with winnings appearing in your account within hours, ready for use.
Bitcoin Casino FAQs
Bitcoin (BTC) is a digital currency and an instantaneous payment system that, unlike traditional FIAT currencies, isn't governed by a central authority. You can acquire Bitcoins via a cryptocurrency exchange or broker, from a friend, a third party, or even directly from a bank.
A Bitcoin wallet is a virtual storage space for your Bitcoins, allowing you to transfer, send, and receive funds similarly to a regular bank account. On signing up for a Bitcoin wallet, you receive a unique address, enabling secure transfers and transactions at online retailers and gambling sites, like those we endorse on this page.
Depositing in Bitcoin is completely safe as long as your chosen online casino accepts it. Leveraging blockchain technology, Bitcoin ensures all payment transactions are highly secure. All payments undergo verification procedures and other checks before transactions are processed. Moreover, all Bitcoin casinos and platforms maintain stringent security measures to safeguard your wallet address and personal identity.
Numerous online Bitcoin casinos are available, but to save you the effort of finding one, we recommend checking out our top Bitcoin online casinos listed on this page. Each one accepts cryptocurrency deposits, boasts high security, and features an array of excellent games with enticing bonus offers, particularly for Bitcoin users!
While depositing at online Bitcoin casinos is generally free, many cryptocurrency exchanges and brokerages impose trading fees for Bitcoin. These are separate from the transaction fees on Bitcoin's network, which depend on network congestion and your transaction's data volume.
Bitcoin operates on a global, decentralised system, and there are various exchanges and online brokers in the UK where you can buy it. Depending on the exchange used, it can take anywhere from an hour to a day. After purchasing your desired amount, you'll need a BTC wallet to store your digital currencies.
Similar to traditional payment methods such as debit cards or bank transfers, you can request your winnings through Bitcoin as your withdrawal option. Be sure to adhere to the guidelines and requirements for submitting a withdrawal request to expedite the process. Provided the casino's accounts team has all necessary details, you can expect to receive your winnings within a few hours.