Pros and Cons of Playing in Bitcoin at Casinos

With such a wide range of payment methods available at modern casinos, it can be tricky to determine the best option for you. Bitcoin is a growing favourite amongst players and is celebrated for its anonymity, speed and increasing appearance at some of the top casinos. While there is still a way to go, Bitcoin is a currency which shows no sign of slowing down and should be on your radar.

To help you make up your mind, we have put together a list of the ultimate pros and cons of Bitcoin. It may become your new favourite payment method!

Pros of Using Bitcoin

Bitcoin offers a huge range of bonuses, and these include:

No minimum withdrawal

One of the major advantages of using Bitcoin is that there is no minimum withdrawal amount. This is a real plus point for players; you can withdraw your winnings at the most convenient time for you, with no minimum criteria to meet.

Extra privacy

Paying via Bitcoin also allows players additional privacy while playing at the casino. The currency is operated through the exchange of digital transactions known as Bitcoin, and each transaction is recorded in a public list, known as the blockchain. All these interactions are totally anonymous, allowing for extra privacy.

Fast Payout times 

When it comes to fast payout time, Bitcoin reigns supreme. It offers some of the fastest payout times in the industry, making it appealing for customers who like to play fast and get their hands on their winnings more easily.

Earn Big Bonuses 

The relative novelty of Bitcoin means that many casinos will offer lucrative bonuses to players who choose this method. This can help your cash go even further and ensure that you can get your hands on some of the most tempting bonuses in the business.

 Cons of Using Bitcoin

As with any payment methods, there are of course downsides which need to be taken into account by players. These include:

Trickier to use

Bitcoin is a little trickier than some other methods, especially for first-time players. Setting up your account can be complicated; you need to set up a range of accounts to buy and trade Bitcoin, as well as a digital wallet in which to store the currency. If you are fairly new to cryptocurrency or online gaming, this could be overwhelming.

Volatile currency

One of the main disadvantages of Bitcoin is its volatility. Value can quickly plummet to become almost worthless – this may mean that your deposits end up costing you far more than you initially anticipated. It may also mean that you find that your winnings are worth far less than you may have expected.

Lack of accessibility

As we mentioned, Bitcoin is growing in popularity, and becoming more prevalent in online casinos. Despite this, it can still be a challenge to find a place which accepts the currency. This is a feature which is rapidly changing, however.

How to open an account and play at casinos with Bitcoin

About 10 minutes

If you are keen to give Bitcoin a go, here are the main steps you need to take:

Necessary Items:

Open a Bitcoin wallet

Bitcoin

Steps to follow

Open a Bitcoin wallet

This is where your Bitcoin will be stored. There is a range of options available to players; do your research to find the best option.

Purchase Bitcoin

Once your wallet is ready to go, you will need to purchase your Bitcoin at an exchange. This is fairly simple, but make sure you take it slowly if it is your first time.

Open an online casino account

When the payment method is ready, it is time to set up an account at your chosen casino. This usually involves heading to the homepage, clicking the Join link and following the steps.

Make your deposit

Once you are registered, it is time to make your deposit! Simply head over to your account area and choose ‘Bitcoin’ as your deposit method. Make your chosen deposit, and you are ready to start playing!

Frequently Asked Questions