How do you recognize an absolutely convincing online casino? The means of payment factor plays an important role. What may seem unspectacular at first glance is immensely important: with the number of payment methods, the size of the group of potential customers increases. An online payment method that is becoming increasingly popular is the Bitcoin. The following guide shows what the crypto currency is all about and what the customer has to pay attention to. We also list the best online Bitcoin casinos!
Bitcoins and online casinos – how does it work?
In the previous section it was mentioned that Bitcoins require special software on the user’s computer as well as acceptance from the other side, the online casino. If the Bitcoins are not accepted as a means of payment, the user cannot use them. The payment process itself does not differ significantly from that with other currencies. As a rule, most online casinos rely on traditional payment methods such as digital purses, credit cards or several forms of bank transfer.
Once the player has found a casino that offers Bitcoin payments, the next steps are very simple. The following list shows what these look like:
Step-by-Step Guide: Paying with Bitcoins in Online Casinos
- Open the customer account and click on the payment area
- Select Bitcoins as payment method
- Request transaction
- Specify individual Bitcoin address
If you follow these steps, you can easily deposit online with the crypto currency. Bitcoin Casinos in German are now also available, so that not only English-speaking customers get their money’s worth here. That was different until a few months ago.
What are the advantages and disadvantages of Bitcoins?
Bitcoins have advantages, but of course also disadvantages. The advantages are that it is a currency that is independent of the economic development of other currencies. If the Euro, Dollar and Co lose value, the Bitcoin remains unaffected.
In addition, Bitcoin is very easy to use. All the user needs is appropriate software on the computer and a counterpart that accepts Bitcoins. Another advantage of Bitcoins is the relatively low fees that the user has to pay.
If you are concerned about legality: Bitcoins are a legal online currency with which the user can pay without banks intervening.
Of course, where there are advantages, there are also some disadvantages. One point has already been mentioned here: acceptance. The Bitcoins are, so to speak, still in their infancy, so that there are not yet too many merchants or online casinos that accept the Bitcoins as a valid payment variant. For example, supporters of this currency are sometimes forced to search for suitable merchants.
Nevertheless, there is a positive trend. However, there is still a long way to go before Bitcoins can be described as an area-wide payment method. Another disadvantage is the sometimes fluctuating price. The Bitcoins can gain or lose value within a short time. There are also exchange rate fluctuations for other currencies, but in most cases these are not so significant.
The issue of security could be a disadvantage, but it is not due to the Bitcoins as such. The Bitcoins are stored in a digital wallet. The user should therefore ensure that his computer is free of viruses or fraudulent phishing software, otherwise the valuable coins can be stolen. It is therefore advisable to increase the security of your system.
The advantages of Bitcoins:
- Anonymous
- Without the intermediation of banks
- Independent of exchange rate developments of other currencies
- Low fees
The disadvantages of Bitcoins:
- No area-wide offer
- Strong price fluctuations sometimes
- High demands on the security of your own computer
How do you recognize Bitcoin casinos?
This question is easy to answer. Some casinos even advertise quite aggressively with their acceptance of Bitcoins, so the customer should have no problems recognizing them. Acceptance can also be derived from the name of the online casino. For example, there is Bitstarz. But even if there are apparently no clues, it is worth taking a look at the payment methods that are listed in a casino. If Bitcoins are accepted, they appear between PayPal, Visa and Co. by name.
Tip: Sometimes all payment methods that a provider has in its portfolio are only displayed to registered customers. It is therefore worth opening a customer account. Alternatively, you can also find the respective payment methods for each online casino on our page.
The offer of Bitcoin Casinos
The player does not have to make any compromises when it comes to the offer at Bitcoin Casinos. Here, too, they will find a concentrated selection of games of all kinds. For example slots. These slot machines have a long tradition – also in real casinos – and attract the players magically. In online casinos, which also accept Bitcoins, this is no different. The slots are also available here in abundance. The range of topics is very broad.
There are classic slots in which, for example, bells, fruits or the number 7 belong to the symbols. In addition, there are also theme slots that have a lot to offer graphically and can even shine with small video sequences. The slots are available from well-known manufacturers such as NetEnt, Novoline or NextGen.
But not only the Slots count in on-line Bitcoin Casinos to the offer. Also the normal card and table plays do not come here too briefly. Here it concerns nearly always the absolute classics named Black Jack or Roulette. In addition, Poker or Baccarat are very frequently to be found in on-line Bitcoin Casinos.
If you want to play in a special atmosphere, you can also try a live casino. Here, the games are played with real dealers or croupiers, which once again provides a thrill and a certain flair.
Bitcoins and the casino bonus
The Casinobonus is a variant of the offerers, in order to give above all new customers a thank you. New customers are usually rewarded with a deposit bonus and/or free spins for certain slots. They must deposit a minimum amount and then receive a percentage bonus on this deposit. Customers who like to use Bitcoins are now naturally wondering whether they can also benefit from these bonuses or whether this is reserved for players who deposit into their account in other currencies.
Bitcoin fans can rest assured, however. There are casinos where the Bitcoins are also used for a bonus. Basically there is no difference for the customers, because there is also a certain percentage up to an upper limit. The maximum volumes of the bonus offers can be found in the bonus terms and conditions. There is also the necessary information about which currencies or deposit methods for a bonus are possibly even excluded.
Online Bitcoin Casinos and Licenses
The advantage of a Bitcoin can also quickly become a disadvantage in the casino sector. Bitcoins are a worldwide accepted means of payment. The disadvantage, however, is that it is not an official currency despite all legality. Those who want to play in a secure online casino will pay more attention to factors such as a valid gambling license.
But this is exactly where the dog is buried. Because Bitcoin Casinos do not always need such a valid gambling license. In and of itself this is not an exclusion criterion. Because not each on-line Casino, which does not have a valid license, can be set at the same time also with fraud or Abzocke in connection. This applies both to online Bitcoin casinos in German and to casinos in other languages. Even without such a license, they can operate safely and seriously.
Nevertheless there is a danger for the player: If you are unlucky enough to get into the hands of a black sheep of the industry, you will not be able to see anything more of your Bitcoins if the provider disappears from the scene. A legal pursuit turns out to be difficult to impossible here, so that the majority of the injured parties would surrender.