Best Live Casinos That Accept Bitcoin 2020
Bitcoin, and cryptocurrencies in general, has become the most popular way for modern, forward-thinking consumers to pay for things online – and funding your online casino is no different.
Whether you are a long time Bitcoin investor with a fully stocked wallet, or just a regular fan of live casino games looking for an easy way to get money into your account, Bitcoin is a great option. Bitcoin transactions are cheap, fast, and just about the most secure and discreet way to do business online.
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Since the transactions happen between your Bitcoin wallet and your casino, you never need to directly connect your bank and casino account.
It’s also more than just a payment method. As plenty of people who have turned a few dollars into a fortune can tell you – Bitcoin is an investment. Obviously, this comes with a few risks, and won’t appeal to every player. For those, Bitcoin is equally effective as a way to simply get money in and out of your account.
There are lots of reasons to choose Bitcoin, and we’re getting into all of them all here. We cover all the bases, including:
- How to use Bitcoin
- Potential fees
- How long the process takes
- Withdrawing, security and more
The full story of Bitcoin is here.
How to Deposit Using Bitcoin
Using Bitcoin is a little more complicated, at least from scratch, than some other popular methods for funding your casino – but it has plenty of advantages too.
Bitcoin is a cryptocurrency: a kind of digital money that you can buy and keep in an online wallet. Just like any other currency, you can buy and sell Bitcoin, convert it into another currency (like GB pounds or US dollar), or use it to pay for things. Also just like those other currencies, Bitcoin’s value is subject to change.
Some might be intimidated by the idea of Bitcoin, but in truth there is loads of technology out there these days that makes the process of using it very easy.
Your first step to fund your account with Bitcoin will be to create an online wallet to keep your Bitcoins in. There are different platforms you can do this with. We recommend Coinbase, which has 35 million users around the world, and simplifies the process a lot. However, you can choose whichever software you like.
All you need to sign up is to provide your name and email address, and create a password. Once you’ve verified your account, you’ll also need to set up a payment method you can use to buy Bitcoins. Directly linking your bank account is the easiest way to do this, since it means you can quickly and smoothly move funds from your bank to your wallet.
Remember that only transactions with Coinbase (or whatever platform you use) will appear on your bank statement, and not whatever else you choose to spend your Bitcoins on. Your transactions are also protected.
Like we said, there are other platforms similar to Coinbase you can also use, and the sign up process will be very similar.
Once you’ve successfully bought your Bitcoins, it’s time to head to your live casino cashier, and choose to deposit via Bitcoin.
You will be provided with an address, which you should copy. Go back to your Bitcoin wallet and find the “Send” option. Paste your casino’s unique address into the field, choose how much money you want to send and click the confirmation button.
That’s it! Subsequent deposits will also be much easier once you’ve already signed up for your Bitcoin wallet.
Processing Fees and Bitcoin
Casinos very rarely charge players any fees for using Bitcoin. We always recommend checking in advance to make sure, but this is normally the case.
Depending on how you are storing your Bitcoins, you may find that the platform charges you a small fee per transaction. Most will only charge you to deposit or withdraw from your e-wallet – not for sending money to your casino.
Coinbase for example charges 1.49% to buy Bitcoin, depending on the payment method. Once your e-wallet is topped up with Bitcoin you generally won’t encounter any fees until you decide to withdraw back to your bank account.
We’re speaking in generalities here, and we do recommend checking the terms and conditions of whatever platform you use. However, Bitcoin transfers are usually one of the cheapest ways to fund your casino account.
Withdrawals and Bitcoin
If your casino allows you to deposit via Bitcoin, chances are you can also use the same method to withdraw.
Withdrawing via Bitcoin is very easy. You’ll need to receive your unique address for your Bitcoin wallet, which you can find in your account. Look for “Request Bitcoin” or something similar.
Once you’ve copied your address, just head to the cashier and choose Bitcoin as your withdrawal method. Type in how much you want to withdraw, copy your address and click the button to confirm. Simple.
Once your Bitcoins are safely back in your wallet, you can always withdraw them by converting them back into your currency and sending them to your bank account – although this may involve a small fee. Just leaving your wallet topped up is also a good option.
Processing Times and Bitcoin
Bitcoin is consistently one of the fastest payment methods at online casinos.
Deposits are almost always instant, or close to it. If you want a method that lets you start betting immediately, Bitcoin is a great shout.
Withdrawal times are more variable.
Some casinos may offer instant withdrawals. A mandatory processing period of a couple of days or even longer is also common. You can check all of this out in advance.
Whatever the processing time, you are very unlikely to find any faster payment methods at the casino.
Advantages of Bitcoin
- Bitcoin is very private. You can make a variety of transactions online with basically full anonymity. Your Bitcoin wallet acts as a layer of security between your bank account and your casino, and your transactions are very secure.
- Bitcoin is cheap. Casinos almost never charge users fees for depositing or withdrawing via Bitcoin.
- It’s usually the fastest, or joint-fastest, payment method at the casino.
- You can use Bitcoin for so much more than just funding your online casino. You can generally have full access to your Bitcoin wallet via mobile app. It really feels like Bitcoin is the future of online payments.
Disadvantages of Bitcoin
- Although the process of using Bitcoin has only gotten easier over the years, it’s true that it’s not quite as straightforward as some other methods, like depositing directly via a bank card.
- By its nature, Bitcoin’s value is subject to fluctuation. In truth this can go either way in terms of how it affects our overall finances – but it’s certainly an extra thing we need to be aware of.
- You may be charged fees to buy or sell Bitcoin, depending on your platform and payment method.
- Comparatively less widely accepted than other payment methods
The Future is Bitcoin
Bitcoin payments are quite simply the safest and most secure way to spend money online. If security is a big concern for you when topping up your live casino account, or you want to avoid making direct transactions from your personal banking, Bitcoin is a perfect choice.
As well as being safe, Bitcoin is consistently one of the fastest and cheapest payment methods you will find at an online casino.
Then there are all the external benefits to using Bitcoin: investment potential, using your wallet to manage money transfers, paying for all kinds of things online.
The biggest downside we can see to using Bitcoin is that some people may be put off by what seems like confusing technology. Which we totally get. At the same time, it’s never been easier to use Bitcoin than now. Cryptocurrency has broken into the mainstream, and in our expert view it’s just a really efficient and secure way to make online payments.
You can check out our list of recommended sites to find the best sites that accept Bitcoin, and don’t forget to use our links to sign up.
Bitcoin is a cryptocurrency which you can use to pay for a variety of goods and services online, by transferring Bitcoins from your e-wallet.
Yes. If a casino allows you to deposit via Bitcoin, it typically also lets you withdraw the same way.
Casinos very rarely charge fees for Bitcoin transactions. Depending on your wallet software, you may find there are small fees for buying or selling Bitcoins.
Yes. Bitcoin is consistently the fastest payment method at online casinos.