Bitcoin has taken the world by storm and become a genuine currency accepted by numerous business, including online casinos in America. What started as a novelty system, made the value of Bitcoin skyrocket and many early adopters rich. As the world began taking this cryptocurrency seriously, more and more companies started accepting it as legal tender. This included casinos around the world.
Now, as more casinos have started accepting Bitcoin in America, it has become a little more difficult to make sure you’re choosing the right casino. Our Bitcoin casino guide will give you everything you need to know about using Bitcoin for gambling and choosing the best Bitcoin casino sites
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What is Bitcoin?
Many people still don’t fully understand what Bitcoin is, and for good reason. It is not an easy concept to fully comprehend. The official definition would be that Bitcoin is a decentralized virtual currency. In plain English, this means that it is a currency that doesn’t actually exist in the real world and is not controlled by a central bank.
This doesn’t really make it much easier to understand, does it? All we really need to know is that in recent years, the value has exploded. In 2017, the value increased by 2200% and at one point, a single Bitcoin was valued at over $15 000. However, the value has decreased significantly since the highs in 2017. For most of 2018, it was valued at around $6000, with plenty of fluctuations.
How to Use Bitcoin Casinos?
Bitcoin casinos USA work exactly the same way as any other online casinos. Players need to deposit funds into their account, and then play the casino games. The difference here is that players aren’t funding their accounts with dollars. In order to use Bitcoin, players will need to sign up for a Bitcoin Wallet. This is where they store their cryptocurrency.
Once this is done, they’ll need to purchase Bitcoins. This can be done from friends, or from a Bitcoin Exchange. Alternatively, you can Mine Bitcoin with a PC, but that’s a different story. Once the Bitcoins are purchased and transferred to your wallet, you simply need to deposit funds into your casino account in the same way as always. The exception being that you’ll select Bitcoin from the casino deposit page.
How to Choose a Bitcoin Casino?
Choosing a Bitcoin Casino in the USA follows the same basic guidelines as choosing any other casino site. There are several important factors that must be considered before you sign up. Alternatively, you can simply choose one of our recommended casinos, as we have already examined the casino closely and recommended it when we were satisfied. Below are the important criteria we look at.
- Safety – Before recommending a casino we make 100% sure it is safe for players to gamble at. This includes making sure it is licensed and regulated, uses appropriate security measures for transactions, and keeps player details secure.
- Games – A good game selection is imperative to a good Bitcoin casino. There needs to be a wide variety of slots and table games, and the games need to be fair and audited by third-parties.
- Bonus – Any online casino needs a great bonus to stand out from the crow and attract American gamblers. This is another aspect we consider, paying attention to the size of the bonus, as well as the terms and conditions.
- Fast Payouts – No one wants to wait months for their winnings. For us to recommend a Bitcoin casino, it needs to payout quickly.
- Customer Support – Great customer support is non-negotiable these days. Players need to be able to get hold of the support staff 24/7.
Benefits of using Bitcoin
So, by now we’re sure you are wondering, why you should even consider using Bitcoin? What is the benefit over regular cash? Well, in truth, there are actually a few benefits that players enjoy. For starters, some Bitcoin casinos offer a slightly lower house edge than traditional online casinos.
In addition to this, the banking times tend to be quicker, and players can deposit and withdraw using Bitcoin. Lastly, there is the anonymity. When using Bitcoin, you are completely anonymous. This is great for those players who do not want to divulge any personal details to an online casino.
Bitcoin Casinos USA FAQs
Are Bitcoin Casinos Safe?
They are as safe as any other online casino out there. If you do your research and choose a reputable casino, you are perfectly safe.
How do I get Bitcoin?
In order to get Bitcoin, you’ll either need to buy from someone or mine them yourself. Mining is a very slow process that needs specialised computer equipment. The easiest route is to buy them from someone you know, or a Bitcoin Exchange.
Do all USA casino sites accept Bitcoin?
No, not all of them do. Players will need to make sure that the casino they are signing up with will accept Bitcoin.
How quick are the transactions?
Bitcoin should provide quicker transactions than traditional banking methods in the USA, especially with withdrawals. Most casinos in America require a few days or even weeks to get your money to you, but with Bitcoin, it should be almost instant.
Is it more expensive to gamble with Bitcoin?
No, it really shouldn’t be. Casinos will keep their service fees very low, while the transaction fees at the Bitcoin exchanges will also be small. The biggest thing to remember is that the value of Bitcoin is very volatile. When it comes to withdrawing your Bitcoin, their value is likely to be very different from when you deposited, for better or worse.