On this page we’ve listed the best online bitcoin casinos, they accept players from across the globe, the United States and they accept cryptocurrency payment methods.
As a deposit and cash-out option, Bitcoin gambling is advantageous to USA players as it allows deposits with almost no limits and withdrawals are almost cleared immediately. However, it also depends on which casino you’re playing at. Another feature we like about Bitcoin is you can link your credit card to your Bitcoin account and withdraw the cash from an ATM no matter where you are.
What exactly is Bitcoin?
It’s a peer-to-peer electronic cash method that can be used to purchase goods online and it’s a payment system that’s based on trust. It allows any two parties to transact with each other without the need for a trusted third party. It’s a popular payment method because there’s no government intervention.
We’re not going to discuss the origins of Bitcoin since it’s outside the scope of this article. One of the most important features about Bitcoin is that it’s decentralized with no central authority. It wasn’t long before online casinos saw its potential and started using bitcoin as a deposit method for players to gamble at online casinos and sportsbooks.
You can now purchase bitcoins with your credit card at any trusted vendor who trades with it. As more and more governments begin to regulate it we’re pretty confident that it’s going to grow bigger and bigger.
When you play at our top listed Bitcoin casinos not only do they accept Bitcoin but they list an extensive variety of games that include poker, roulette, blackjack, bingo, dice games, slots, live casinos and multi-million dollar progressive jackpots. If you are interested in Sports betting with bitcoin check out our sister-site.
Why Online Casinos Use Bitcoin
The first two and a half years Bitcoin went from being an unknown cryptography to a niche online currency. In February 2010, BitcoinMarket.com was the first company that traded in Bitcoins. The abbreviation for Bitcoin is BTC. A single bitcoin is 1BTC. If you want to transfer bitcoins from your wallet to an online casino, you’ll need the operator’s public key.Bitcoins.
The reason why sports betting sites and internet casinos prefer the digital currency; it’s safe and there are no bank costs involved unlike credit or debit cards. Bitcoins don’t have any ties to banks or governments because it’s decentralized. In the past the U.S government froze player funds because they gambled at unregulated offshore casinos. Thanks to Bitcoin, players now have complete control over their funds and it’s anonymous. Bitcoin online casinos won’t even ask your name or address, just an email address is all that’s needed.
For a small fee you can send and receive Bitcoins over the Internet in U.S Dollars, Euros or British Pounds. This could be done through web wallets. Before you can transact in Bitcoins you need a Bitcoin wallet. There are two types:
- Software wallets. You must download the software on to your computer first. They are more secure than web wallets and cuts out any third party. I recommend Armory, Bitcoin and Multibit.
- Web wallets. It’s web-based and the most convenient of the two. However, I must warn you that it’s not as secure as Bitcoin wallets. Popular web wallets are Blockchain.info, BitGo and Coinbase.
How To Buy Bitcoins?
You can buy bitcoins from friends or you can purchase them using your own online currency. You can store your bitcoins by using a hot wallet or cold storage.
- Hot Wallet: Public and private keys are stored on a device that’s connected to the Internet or an online service like a Bitcoin-trading exchange. It’s the most convenient way to store your bitcoins but it’s not the safest. Your cash might be at risk since your private key is stored on your computer. If a hacker hacks your computer your bitcoins are as good as gone.
- Cold Storage: This is the opposite of the hot wallet. As the name implies, your public and private keys are stored offline. You can save them on a USB stick or in a safe. The downside to this method, if your hardware malfunctions you can lose everything.
- Players from the United States can use Coinbase or Circle to buy bitcoins with credit cards.
- UK players can purchase bitcoins from Bittylicious on 3D Secure-enabled Visa and MasterCard networks.
Aside from the aforementioned keep in mind that desktop wallets only apply to PC desktops. Mobile wallets are meant for smartphones and lightweight apps. While Web wallets can be accessed through your browser be it from your tablet or PC.
- Multibit: Non-technical people like this wallet since it has a reputation for being hassle-free and fast. It operates in several languages and works on all operating systems.
- Armory: For Windows and Linux users, Armory offers additional security features.
- Xapo: It incorporates multi layers of advanced cryptographic security that protects all bitcoins. The process entails private key segmentation. Your bitcoins and private information is stored using a cold storage facility. Long story short, it’s stored in the Swiss Alps in an impenetrable safe. Players outside the U.S can get a debit card which trades bitcoins in real time when used.
- Bitcoin.org: Alternatively you can also head off to this site. Currently it features a Bitcoin wallet which runs on Android devices.
You can buy from the exchange companies that send you bitcoins for the money you pay them. The exchanges are for example: Kraken.com, BTC-E.com or Localbitcoins.com. You can also purchase bitcoins from people who have bitcoin and want to sell. You can buy bitcoins against any mode of payment supported by the seller of bitcoins. In many countries you can purchase bitcoins from exchange against, hard cash, debit card, credit card or any other supported form of payment.