Bitcoin Review – Safety First!
Bitcoin is more than 10 years old. In 2022, it is the most popular gaming cryptocurrency. In the age of DeFi (decentralized finance), more online casinos are integrating Bitcoin and blockchain.
- About BitCoin
The Bitcoin cryptocurrency started to take its toll since 2008 and to this day is still considered the top cryptocurrency in the world. Find out how this digital payment method works and how it compares to other payment methods.
- Safety and Security
Bitcoin wallets serve as a go-between that enables users to make deposits and withdrawals in a totally anonymous manner, without ever having to provide their personal information to the websites at which they are transacting. Those who do a significant amount of playing, or even shopping and business online will benefit from this enhanced safety and security.
- BitCoin safety and security in online casinos
When looking for things to do at a casino, safety and legality are the most important things. Because when you first start playing at a casino, you have to give the casino some personal information and the documents you need to prove your identity.
- How to know which casinos are safe?
Always check for KYC, GDPR and other licensing before you deposit money in any online casino.
- We only promote safe and regulated casinos
Our team of online casino experts will only promote the safest and best-regulated casinos in your market, ensuring you have a worry-free online gaming experience.
Some of the casinos that are using Bitcoin as a payment method are:
- Lucky Days
|Did you know?|
|Most of the UAE Players are using cryptocurrencies as payment at online casinos.|
How to Use Bitcoin in an Online Casino?
Making a deposit at your favourite online casino is broken down into three easy steps:
- Create a Bitcoin wallet
- Add money into your Bitcoin wallet
- Deposit money on your favourite site using your Bitcoin Wallet Account.
Are there any fees when depositing and withdrawing at a BitCoin Casino?
Players often worry about the fees they have to pay when they deposit or take money out. Players rarely have to pay fees to put money into or take money out of casinos these days, which is a good thing. When you play at an online casino with Bitcoin, you don’t have to worry about whether or not the casino will charge you.
But there are some small fees to trade on the Bitcoin exchange. Fees can differ, but most people pay between 0.5% and 0.75%.
|Casino||Deposit Fees||Withdrawal Fees|
|Bet O Bet||0%||0%|
How to place a deposit and withdraw your winnings using BitCoin?
Now that you know all of its benefits, you want to use BitCoin as your casino payment method.
Open a Bitcoin Wallet
Bitcoin wallets work similarly to PayPal. You can add money into the wallet using your bank or credit/debit card and use it to make purchases or deposit into an online gaming site. The main distinction is that you can transfer money into the wallet into Bitcoins to make transactions. As with PayPal, opening a Bitcoin wallet account is the same. Follow the provider’s instructions, and you’re done.
Deposit Money into your Bitcoin Wallet
After you set up your account, the next step is to deposit money. You can deposit using a debit or credit card or link your bank account to your Bitcoin wallet and deposit money that way. These options will work the same way, so pick the one you like best. Some Bitcoin wallets may also let you use PayPal or other payment methods to add money if you prefer.
Deposit Bitcoins into the Casino
Once you have your money in your Bitcoin wallet, you can make a deposit at an online casino and start playing right away. You must go to the deposits page of the casino you want to play at and click on the Bitcoin option. They will tell you exactly how to make your deposit, and that will be it. After the transaction is approved, it shouldn’t take more than a few minutes for you to be able to play with your money on the site.
|Did you know?|
|Currency has only two uses. Two things are needed: a finite currency supply and an agreement that it will be used to exchange goods and services.|
Solutions to Common Issues when using Bitcoin at an Online Casino
Understanding cryptocurrencies may take some time, but don’t worry! You’re not here to trade cryptocurrencies, you’re basically just using it as a payment method to enhance your online gaming experience.
- I can’t find MasterCard as a payment option for my Bitcoin Wallet
If you are unable to find MasterCard as an available payment method in your chosen bitcoin wallet, it could be that MasterCard isn’t an accepted payment method on that particular bitcoin site. Just to make sure that you aren’t doing anything wrong, contact customer service for assistance.
- I think I may be a victim of fraud. What should I do?
If you suspect that you have been a victim of fraud, most banks advise you to contact the financial institution that issued your card. There is also the option to call the Visa or MasterCard Assistance Center directly. However, it is very unlikely that your Bitcoin Wallet information has been compromised since it’s very secure.
- I made a mistake with my deposit, can it be refunded?
It’s important to check to see if there are any terms and conditions that cover you if you’ve made a mistake with your deposit before reaching out to contact customer support for further guidance.
|Did you know?|
|Bitcoins are officially whole units, but you can buy them in incredibly little bits for almost any dollar amount you desire. This is because Bitcoins were designed to be divisible.|
Pros and Cons of Using Bitcoin at Online Casinos
Like most things in the world, we’ve found that using Bitcoin has its advantages and its disadvantages.
|Pros 👍||Cons 👎|
|It is decentralized.||Bitcoin goes up and down.|
|There is no risk.||It’s still being worked on. Even though the Bitcoin network has been around for years, it is always changing.|
|It is not public. People don’t know who bought what because your Bitcoin wallet doesn’t have any personal information tied to it.||Not a payment method that most people use.|
|It is quick.||It can’t be traced.|
|Bitcoin’s transaction fees are low.|
|It won’t go up in price over time.|
|Not always is it taxed.|
Bitcoin vs. other payment methods
How does Bitcoin compare to other online casino payment methods? Does Bitcoin as a payment method have more features than more popularly used methods?
|Feature||Bitcoin||Pay-by-Phone||Bank Card||Apps (ie. PayPal)|
|Did you know?|
|Bitcoin is much cheaper than other ways to pay online and is also much faster. Bitcoin transaction fees are a small fraction of the fees that come with bank transfers or credit card payments, which usually take a big chunk of your transaction as a service fee.|
Set Up Your Bitcoin Wallet, You Know We Did!
Bitcoin started on the Internet and was made to be used on the Internet. So, this digital currency is a nearly perfect way for online gambling platforms to handle money. Before bitcoin, though, people didn’t have many other options. But now we have digital cash, so we don’t need cumbersome institutions like credit card companies, banks, and payment processors. Because Bitcoin is optimized for use online, it doesn’t need any of these things. This guarantees a high level of privacy, security, efficiency, and ease of use.