The arrival and widespread use of Bitcoins at online casinos was something bound to happen. This is because of the benefits that cryptocurrencies like Bitcoin have to offer.
If you’re an avid online gambler and have been playing with traditional currencies, you should try Bitcoin-enabled casinos. But it’s a whole different experience playing at fast payout Bitcoin casinos. In this article, we’ll explain some of the benefits you get out of them.
Why Play at Instant Payout Bitcoins Casinos?
The main reason you should play at Instant payout Bitcoin casinos is because of the safety and transparency these types of casinos have to offer.
Bitcoin is part of a distributed ledger, also known as Distributed Ledger Technology. Every transaction that takes place in it is recorded and open to the public. In fact, Bitcoin was created in the first place to solve the issue of fraud transactions and tampering.
With Bitcoin, every transaction is safe and recorded. If you’ve made a deposit using Bitcoin and the casino accepts it, they cannot raise a false payment charge on you since the transaction is recorded in the open public. This makes your transactions extremely safe and transparent.
Other benefits of playing at Instant payout Bitcoin casinos are:
Bitcoins are known for their fast processing speed. Soon after you request a withdrawal, you’ll have the Bitcoins in your Bitcoin wallet. Similar statements can be made for making the deposits. In a section below, we’ll review how Bitcoin compares against other payment methods in terms of speed.
Many online casino operators that do provide Bitcoin as one of the payment options encourage players to transact via Bitcoin. So they provide Bitcoin exclusive bonuses and promotions. This can be either 10% cash back or 10 free spins or offer along those lines. When you transact using Bitcoin, you make yourself eligible to receive these promos.
More selection of games
Bitcoin is often carried by reputed casino operators. Thus, when you see a casino accepting Bitcoins, you can conclude to some degree that they are reputed and have a large selection of games, at least 500+. You can use the Bitcoins across a wide range of available games.
How to Make Instant Withdrawals at Bitcoin Casinos?
Bitcoin at online operators work more or less the same way as any other transaction method. If you’ve carried out a transaction before, then you should have no problems with Bitcoin whatsoever.
Before that, you need to have a Bitcoin wallet with you. This should be your personal Bitcoin wallet. If you don’t have, you need to take the help of someone who has one.
Here’s a brief overview of the process:
After you’ve created your account at that particular casino, you need to navigate into the “Add Money” or “Deposit Money” section. This is where you carry out transactions
From the list of options, you need to select “Bitcoin.”
Click on it, and it’ll open up a separate panel
Provide the number of BTC or Bitcoins you want to deposit
Provide your Bitcoin wallet details
This will transfer the required number of Bitcoins from the wallet to your playing account. This is both safe and transparent. Many casinos offer an instant deposit with this method. This means your account will be credited instantly, and you can start playing with Bitcoins.
If there are bonuses available with Bitcoin deposits, then the section will be highlighted.
How Does Bitcoin Compare To Other Banking Options?
Bitcoin is considered faster than other banking options, even faster than certain e-wallets. To know why you need to understand how Bitcoins work in the first place.
The Bitcoin is a shared digital public ledger that is open to everyone. You join this ledger by creating a Wallet of your own. Whenever a transaction takes place, it is processed by the computing power of the blockchain and is processed automatically. Once processed, it gets recorded in the public ledger. The wallets hold a secret piece of data, which is called a “Private Key.” This is used to sign the transaction and verify authenticity. The Private Key also ensures the value and nature of the transactions aren’t altered.
This way of processing is radically different from the way traditional banks process transactions. They rely on multiple third-parties to confirm the payments. Therefore, Bitcoin is decentralized, whereas banks are centralized, owned, and operated by an organization.
That’s the reason that Bitcoins are the fastest method of transactions at online casinos. Both deposits and withdrawals are carried out almost immediately. E-wallets take as much as few minutes to few hours to process your transactions. Banking methods are the worst, which can take up to a few days.
Will There Be Any Fees With Bitcoin Transactions?
Bitcoin transactions are considered cost-effective. Because of the decentralized nature of blockchain, it requires minimal capital to maintain the infrastructure to run it. In fact, the infrastructure is shared by many people who are part of the network. This brings in the required computing power to run the digital ledger. Also, this brings down the cost.
But Bitcoins do charge fees for processing your transactions. This is not charged by an organization, but by miners who provide the computing power necessary to provide support for the transaction. Also, this varies and is not fixed.
A few years ago, it was around 1.3% of the total transaction amount. Then it rose to 3.301% before dropping to 2.738%. This percentage is affected by many different factors. But these are nevertheless less than what most other payment methods charge. At times, this can be higher, though.
The fees will be mentioned in detail when you process the transactions. The same will be deducted from your wallet.
Bitcoin is a revolutionary payment system that is still in its infancy. In the coming months and years, as we see better adoption among casinos and players, there will be more offers and better fees offered. But the current state is admirable too. You should highly consider transacting with Bitcoins at online casinos.