Bitcoin is everywhere. Some years ago many people were completely surprise, that cryptocurrency was highly demanding and pricy. Betting companies did not miss this moment and provided customers with the possibility to play for bitcoins. This looks so attractive for those, who possess this currency, hence, we will introduce you the list of the best Bitcoin Casinos.
Is it safe to pay at BTC Casino?
Paying with bitcoins works a little differently than with classic payment service providers. Since BTC is a decentralized blockchain, there is no central body that checks or approves the payment. You simply send the corresponding amount to the desired address and the payment is recorded in the blockchain. All credits and addresses are publicly viewable on the blockchain, but cannot be manipulated. The credit is only secure if you protect your own private key. A private key is literally the key to all access to a specific Bitcoin address, which is called a public key.
Even the best Bitcoin Casino has to encrypt all communication and payment transactions. But even if the individual public keys should be intercepted, without the associated private key, this data is completely useless, which is why the public keys (as an analogy to this account number) can also be shared publicly without hesitation. Paying at Bitcoin Casino is therefore safer than with any other payment method .
Bitcoin casino test – how do you recognize a reputable and fair casino?
In our Bitcoin Casino comparison, we naturally only oriented towards reputable BTC casinos. This sometimes raises the question of how to actually recognize a fair Bitcoin casino. These were the most important factors in our comparison.
- Transparent conditions
- Fair conditions (also for bonus)
- Positive experiences from users
- Bitcoin casino payout
- Various deposit types
Before you log on to an online casino indiscriminately, check exactly where the Bitcoin casino is located. The safest providers come from the European Union. Here you not only come across a legal area that is directly accessible to you, but you can also rely on the strict regulations of the international community, which are probably much more meticulous in Europe than in other countries.
Most providers have promotions, such as a no deposit Bitcoin bonus. This may sound tempting at first, but it is important to check whether the platforms are delivering on their promises to pay out. At a Bitcoin casino without a deposit, the bonus amounts often have to be exposed to a certain turnover. The higher this is, the more unattractive the offer becomes.
It is one of the basic requirements of every modern website to have an imprint. If you notice here that there is no such imprint with risk information, you can close the browser window with the conclusion “untrustworthy”. It certainly doesn’t hurt to continue to gain user experience in forums. Reviews of test sites can also help.
Sure, you want to pay for Bitcoin games primarily with cryptocurrencies. But are there alternative payment methods? If so, that clearly speaks for the provider. Paypal in particular is an indication of seriousness, since you can still enjoy the buyer protection of the service provider.
Fairness of BTC casinos
As already mentioned above, you should generally deal with the security measures if you want to play in an online casino with bitcoins or real money. So it’s best to check the footer, the lower part of an online casino website, and make sure that independent companies regularly check the RTP values and the RNG.
What you should definitely look out for when choosing to play in Bitcoin casinos is the current value of that currency. Many people who owned BTCs early became millionaires due to the increase in value. For this reason, you should always grapple with the current value of cryptocurrency to get the most out of playing in Bitcoin casinos.
Overview of advantages and disadvantages
Casinos that provide Bitcoin as a payment option offer players advantages and disadvantages. One of the biggest pluses is definitely that players can deposit anonymously and quickly without having to worry about any tax related costs. You also don’t need to worry about a chargeback. In addition, a few clicks in the Bitcoin Online Casino are enough to let the fun begin and to try out your favorite slots or live dealer games.
|Low fees||Fluctuating course|
|safety||Requires above-average knowledge|
|privacy||Small number of Bitcoin casinos|
However, there is also a big disadvantage that Bitcoin casinos do not need an official gaming license and regulation is very difficult in this regard, so that you should always make sure that the casino is licensed in the first step.
Furthermore, you should be careful about your deposits because the market value of bitcoins is very fluctuating. This may result in your credit changing week by week or day by day. That is why we recommend that you always change them to euros in the online casino so that your balance remains regardless of any exchange rate fluctuations.
Bitcoin casino bonus – which one is the best?
If you are looking for an exclusive welcome bonus If you are specifically aimed at players who make a Bitcoin deposit, we unfortunately have to disappoint you. There is currently no such one. Nevertheless, you can of course make use of one of the Bitcoin Casino bonus offers that are offered to you in different casinos. Be sure to inform yourself beforehand, because not all casinos that offer BTC as a payment method offer you the opportunity to claim the bonus if you choose the cryptically digital currency. That is why it is all the more important that you read the general terms and conditions beforehand, because in many online Bitcoin casinos you can only make use of bonus packages when making a deposit by credit card, bank transfer or PayPal. However, you have the chance to switch to bitcoins at the provider from the second deposit. Many providers promise you welcome bonuses that give you 100 bitcoins. Sounds too good to be true and it is. Such providers are not serious, but fraudulent. So make sure that those casinos have a valid gambling license.
Can I also use Bitcoin for withdrawals?
Not only is it easy to deposit bitcoins, but it is also easy to withdraw.
When you have successfully played for a certain amount of time and have been able to win bitcoins, the moment comes when you want to pay off your winnings. To do this, click on the bank area of your Bitcoin casino and look for the payout area. Once you’ve found it, fill in the information you need to complete the withdrawal process. Withdrawals can take a few days as they have to be checked by the casino first. On the one hand, this serves your security and, on the other hand, it protects you from fraud.
If you have any questions or problems regarding your payment, contact customer service, who will be happy to help and advise you.
Are there any fees to be paid?
While bitcoins differ from other classic currencies, this does not mean that they are exempt from taxes. As with any type of income, you obviously have to tax your profits. This seems tricky against the background that this cryptocurrency, in contrast to traditional currencies, does not exactly have a lot of information or documents that can be checked.
Only when you sell or pay with bitcoins do you have to pay taxes . If you have bought some or generally have some in your cyber wallet, you do not need to pay any taxes. We therefore recommend that you familiarize yourself beforehand with how much tax you have to pay and how you can pay it.
You might also want to think about fees when playing in an online Bitcoin casino. It can often happen that some have to be paid and the recipients are usually responsible for it. However, you should receive this information in the payout area of a proper online casino . However, many providers also pay the withdrawal fees and keep the costs away from the players.
Nevertheless, as with any other payment method, you should always inform yourself beforehand.
What are the best alternatives to bitcoins?
If you’re looking for an alternative digital payment method that’s as secure as cryptocurrency, we recommend PayPal or another eWallet option. eWallets are linked to your bank account and allow you to make deposits and withdrawals without having to provide your bank details.
Is it legal to play with bitcoins?
Playing with bitcoins is absolutely legal. While the cryptocurrency has been discredited by criminal activity, BTCs are still absolutely safe and legal.
Can I get bitcoins for free?
The answer is no. You can be sure that websites that promise you free bitcoins mean fraud. The only way to get bitcoins is to buy them from an online retailer or generate them through mining.