While other payment methods like Credit Cards and eWallets may be more well known, playing at an online casino with bitcoin is slowly gaining traction as players realise that bitcoin can offer them a number of benefits not offered by other banking methods. So, what is bitcoin?
Bitcoin is a form of digital currency that is not regulated by any government but rather by other bitcoin users. Bitcoin transactions work by transferring value between wallets, with each wallet identifiable through a unique digital code. These wallets can be bought and sold on various marketplaces at the currency of your choice meaning that bitcoin is truly a universal form of currency.
Due to bitcoin being stored in these unique wallets, whose ownership is easily transferred, the details of buyers of bitcoin can choose to remain anonymous, something much looked for by avid online gamers looking to keep their personal details secure. This is just one of the benefits of playing at an online casino accepting bitcoin.
Being a digital currency means that bitcoin is widely accepted and easily converted into any currency of your choice. In addition to this, being more akin to an eWallet service means that bitcoin users can choose to remain anonymous when banking online, with transactions reflecting a digital signature rather than having any personal details attached.
Finally, bitcoin boasts the lowest fees associated with online banking as, due to the nature of the system, users could in fact choose to not pay any fees at all on their transactions. Transactions themselves are free though some players may choose to pay a small fee to have their transaction done faster or even instantly.
“Bitcoin boasts the lowest fees associated with online banking.”
What this means for players is that, once your bitcoin wallet has been acquired, you are free to play at any online casinos that accept bitcoin and you are guaranteed:
By choosing to play at an online casino using bitcoin you are guaranteed all of the peace of mind of other payment methods with the added benefit of anonymity and the lowest banking fees.
Being a relatively new payment method, it can be difficult knowing how to get started with bitcoin so here is a quick rundown on how to deposit using bitcoin:
If you thought depositing using bitcoins was simple, how to withdraw using bitcoin is even easier. Online casino bitcoin withdrawal is simple and fast and we will even cover how to convert bitcoin into your local currency in our breakdown:
Only the best bitcoin casino software in the UK are guaranteed to offer you the best bitcoin rewards, with many sites offering players bonuses just for signing up and choosing bitcoin as they preferred banking method. From bitcoin casino with a no deposit bonus, to casinos that reward you with free satoshi (the smallest unit of currency) just for making deposits using bitcoin, the ticket to your next reward could lie in choosing bitcoin. Certain gambling sites also offer Bitcoin faucets to reward players for signing up.
Take a browse through our selection of bitcoin casino reviews for a look at what the best bitcoin casinos in the UK can offer you.
While bitcoin may not be the most well-known casino banking method in the UK, it is nonetheless one of the safest, most secure ways to play online. If you are still trying to decide if bitcoin is for you, be sure to check out our handy FAQ for a little more information.
Bitcoin is a form of digital currency used to make payments without fees. Sophisticated encryption techniques are used to regulate the generation of units and verify the transfer of funds without the need for a centralised banking system, meaning that the system is unregulated by banks and government alike.
Bitcoin transactions work by transferring value between wallets, with each wallet identifiable through a unique digital code, and each transaction appearing on a public ledger kept by all the users of the bitcoin network. These wallets can be bought and sold on various marketplaces at the currency of your choice meaning that bitcoin is truly a universal form of currency.
Yes, many online casinos now accept bitcoin as a banking option.
Bitcoin transactions are identified solely by their unique transaction numbers meaning that any bitcoin transaction performed will be anonymous, meaning your personal banking details are completely safe when playing at a bitcoin casino in the UK.
The beauty of bitcoin is that transactions are free, unless you require them to be performed instantly. The average transaction takes up to 10 minutes though, by paying a small fee, you can choose to have your transaction moved up the list and performed even faster.
Reputable casinos, like the ones we recommend, will never charge you extra for choosing to bank with bitcoin and with the bitcoin system designed as a way to transfer funds without fees, bitcoin truly is the cheapest way to play online.