The online casino regulatory landscape is constantly changing, and banks in certain jurisdictions are coming under increasing pressure to block transactions to and from registered online casinos. Therefore, more and more players are choosing to avoid potential hassles by using Bitcoin to send and receive payments.
Bitcoin is incredibly secure (it’s basically impossible to hack or alter in any way). It also affords the highest levels of personal privacy protection available in a currency. And with increasingly fast transaction times, Bitcoin is rapidly becoming one of the most preferred transaction methods for casino players in the USA and around the world.
Top Online Casinos Accepting Bitcoin
Advantages of Using Bitcoin
Online casino deposits and withdrawals using Bitcoin are fantastically safe and secure. All of the latest casinos are utilizing cryptocurrencies, as they are uniquely reliable for many various online transactions. Thanks to the sophistication of blockchain technology, Bitcoin transactions are, in essence, impossible to hack due to the lengthy formulas involved in creating the blockchains. The public and private key systems ensure that you retain total control of all your Bitcoin transactions.
It’s perfect if you have a keen interest in protecting your privacy. If you believe that it’s nobody’s business how much you gamble and win in online casinos, Bitcoin is the ideal transaction method for you. While all transactions are visible to the world on the blockchain, the identity of the person making the transaction is completely hidden behind the encrypted dual key system. This keeps you and your transactions safe and anonymous.
While traditional withdrawal methods such as bank transfers and bank checks can take days and in some cases even weeks to completely process and receive, Bitcoin withdrawals are essentially instantaneous. They only involve the time it takes for the block on the trusted global blockchain to be securely completed as well as the transaction validated. This means you get your Bitcoin withdrawals in as fast as minutes, and not days.
Drawbacks of Using Bitcoin
Bitcoin is not for everyone as it can be complicated. Learning how to use the public private key system takes a bit of effort and time. Moreover, some people are put off by the fact that Bitcoin doesn’t actually “physically” exist anywhere, as it is code that is distributed across the world-wide blockchain. This lack of physicality can be troublesome for some people.
Potential for Loss
As a society, we’re still overly accustomed to our physical currency, and the idea of digital currency is still foreign and uncertain for many. You can’t stack Bitcoins into piles or put them in your pocket or count them. As a virtual currency, Bitcoin only exists as a data chain, which means that if your hard drive crashes, is corrupted by a virus or you lose your private key, your Bitcoins are gone forever.
As a new cryptocurrency, the value of Bitcoin is extremely volatile. Bitcoins have been 7.5 times as volatile as gold and can fluctuate as much as 1000% in a year. This means that if you own $1,000 in Bitcoin today, it could become anything from $1 to $1,000,000 tomorrow, all depending on the market. While all currencies fluctuate in value, Bitcoin reaches an extreme due to uncertainty and speculation surrounding its uptake all around the world.
How to Deposit Using Bitcoin
#1 Get a Bitcoin wallet.
Choose a hot wallet for online storage and cold wallet for offline storage.
1. Software: hot wallet that requires download of software for desktop and mobile use
2. Online: easy-to-use hot wallet provided by a third party; accessible from any Internet device with private keys are stored on another server
3. Paper: DIY cold wallet with public and private keys printed out
4. Hardware: USB-like cold storage device that generates keys while making a transaction
#2 Obtain some Bitcoins.
You can get Bitcoins from someone else as a gift or you can accept it as payment for any goods or services. However, the most common approach is to purchase them yourself. You can choose one of several online exchanges that can be found here: https://bitcoin.org/en/exchanges or if you already have a Bitcoin wallet service, consult their FAQ to learn more.
#3 Register or log in.
Browse through the list of different casino options, and select your favorite one. Or, if you’re feeling adventurous, try something new. We are pleased to announce that all of the verified casinos reviewed here at USA Online Casino now accept Bitcoin, so you can feel free to choose from any of them. If you’re a new player, register for a free account in just a few quick steps.
#4 Choose a Bonus.
Go to the cashier page to select your bonus of choice and deposit your Bitcoins. As you’re looking through the active bonuses, we recommend reading the details carefully to ensure that you choose the one most suited to your gaming interests. Don’t forget to click “redeem coupon”! Select Bitcoin from the list as your payment method of choice and follow the prompts on the screen.
#5 Enter your details.
Follow the simple instructions on the screen to deposit your Bitcoin. As with most other online purchases, you will be required to provide some personal details and verification of payment. Just like all other secure websites, this information is kept confidential and will not be made available to outside parties. Be sure to have all the relevant information ready and your Bitcoin wallet at hand for a smooth deposit.
#6 Start winning!
Your account will now be credited with whatever amount you’ve chosen to deposit. You can view your updated balance by clicking on the “my account” tab. Now that everything is taken care of, you’re ready to move on from free practice rounds to playing for real money. Enjoy the added level of excitement that comes from a little extra risk, and of course, the sensation of winning real money!
How to Withdraw Using Bitcoin
#1 Log in.
Open the website of your favorite bitcoin casino or whichever website you have winnings to withdraw from. Log into your account as you would normally do and locate the tab at the top of the page for the cashier section. This is the same section that you would normally visit to depositing money before playing.
#2 Go to the withdrawal page.
Head to the cashier to cash out on your well-deserved winnings. Once you have made your way there, click on the tab “withdrawal” and check your balance. The page will display your current balance as well as your withdrawable balance. Keep in mind that there are withdrawal limits: $100 to $2,500 per transaction, so you’ll need to take that into consideration moving forward.
#3 Choose your payment method.
Where it says, “Choose your payment method,” select “Bitcoin.”
#4 Enter your details.
Enter the amount you would like to withdraw and click “Withdraw.” You will then be taken to a page where you must enter your Bitcoin details. Be prepared with your wallet information in order to complete this transaction successfully.
#5 Enter your approval code.
Frequently Asked Questions
Is it safe to play online casinos using Bitcoin?
Are you kidding? Yes, a thousand times, yes! It simply doesn’t get any safer! Bitcoin is bar none the safest, securest, most transparent way to make online casino deposits and withdrawals. Used by hundreds of thousands of people the world over every day, Bitcoin is perhaps the securest transaction form ever invented (we say perhaps as Bitcoin has its competitors, who are claiming that they can make the super security of Bitcoin even more super secure. Only time will tell there).
How easy is it to make online casino deposits using Bitcoin?
Super easy, once you have Bitcoin. The thing is, setting up your Bitcoin wallet and buying your first Bitcoins does take a bit of tech savvy or at the bare minimum some perseverance and a willingness to learn. Once you actually have Bitcoin, online casino deposits and withdrawals couldn’t be easier.
Are there fees involved is using Bitcoin at an online casino?
No. That’s the beauty of it. Bitcoin transaction fees are few to none for all types of transactions. Online casinos, eager to please players and maintain their trust, have made sure that Bitcoin transactions are both free of any additional fees and completely secure and transparent.
Can I play at an online casino using Bitcoin?
Absolutely. Bitcoin transactions not only provide the highest levels of safety, security and privacy available, they also dramatically lower online casinos transaction costs in processing payments. This means that almost every casino reviewed here at USA Online Casino now happily accepts Bitcoin.
How do I make a deposit using Bitcoin?
Once you have Bitcoin in a Bitcoin wallet, just register or log on and go to the cashier. Click on the Bitcoin icon, enter the amount you wish to deposit (it will appear in USD) and click next. You will then receive a code that is valid for 60 minutes. You then enter this code in your Bitcoin wallet. As soon as the transaction is approved your account will be credited automatically and you’re good to go!
Do I have to be based in the U.S. to use Bitcoin?
Not at all. One of the brilliant things about Bitcoin is it doesn’t physically exist anywhere. Bitcoin is a digital currency (technically a cryptocurrency) that exists only electronically, on a global computer network. The keys to your Bitcoin are stored in an electronic wallet. Bitcoin is completely decentralized, with no overseer like a bank, and can be accessed 24/7 from anywhere in the world with an internet connection.
What is the future of Bitcoin?
It’s really anybody’s guess. So far uptake has been gaining strength, with the market capitalization of Bitcoin rocketing into the hundreds of billions of U.S. dollars, most analysts believe Bitcoin as a currency is here to stay. At the same time, significant establishment figures, perhaps intimidated by central banks lack of control over the decentralized, web based cryptocurrency, are proclaiming Bitcoin a bubble, like the Tulip Mania in Holland in the early 1600s.
Currencies need two things to work: public acceptance of its value as a means of exchange, and a way in which to exchange them. Bitcoin so far offers both quite well. That said, many establishment figures are threatened by Bitcoin’s anonymity and lack of centralized control and would prefer the status quo. Central bankers prefer to control the world’s currencies. At the end of the day, however, it will be the global public that decides on Bitcoin’s ultimate success.