Bitcoin Casinos

Bitcoin and cryptocurrencies have seen a rise in popularity in recent times and with both more people owning bitcoin and more companies accepting bitcoin as payment, it only makes sense that casinos jump on the bandwagon. Below we list the top Bitcoin casinos available to join in the UK.

What is Bitcoin/Crypto?

Bitcoin is the very first digital asset that was created with distributed ledger technology in 2008, which can be used as a means of exchange in a peer-to-peer fashion, devoid of centralized control.

Originally described by an entity known pseudonymously as Satoshi Nakamoto, Bitcoin has grown to become the number one digital currency in the world today, with a market capitalization of $597.21 billion (as of January 10, 2021).

What scenarios best match the definition of a Bitcoin casino?

• Online casinos, where the use of Bitcoin as the accepted payment method is promoted. However, the use of Bitcoin for gameplay is not exclusive, and there may be some fiat options as well.
• Casinos that runs exclusively on the distributed technology that Bitcoin runs on. These casinos also promote the exclusive use of Bitcoin as the method of deposits, withdrawal as well as for gameplay.

In time there will be “hardcore Bitcoin casinos” that go well beyond the use of Bitcoin as a payment method for deposits and withdrawals, which would differentiate them from other websites that only accept payments in cryptocurrencies. A Bitcoin casino should be able to allow for the use of Bitcoin or other cryptocurrencies paired or aligned with Bitcoin for gameplay. This will present several advantages to the user, one of which is the avoidance of outrageous transaction fees.

The use of Bitcoin casinos which runs on blockchain technology, or which allows for gameplay using Bitcoin, usually presents very reduced fees. Also, games are adjudged to be fairer, as the players have the same level of access to check results as everyone on the network. Furthermore, the usage of Bitcoin and the blockchain technology by a Bitcoin casino ensures that the casino bookmaker gets to keep more profits, as operational costs are reduced.

The anonymity and the integrity of the systems of a Bitcoin casino as provided for by the use of blockchain technology, are unparalleled.

Advantages of Using Bitcoin/Cryptos as a Deposit Method

Global Acceptability – Bitcoin remains the only currency of all fiat or digital currencies that has amassed global appeal and acceptability. There is hardly a country on this earth where Bitcoin is not bought, sold or exchanged. Even in countries where the use of Bitcoin is banned, people still find a way to trade it or use it as a means of exchange in an underground mode. For merchants, the use of Bitcoin as a method of exchange enables them to push their product all over the globe, knowing that anyone in any part of the world will have the means to pay for their products or services.

Easy Payment Access for Users – In many countries, access to fiat foreign exchange is a huge hassle. There are limits on how much foreign currency an individual may buy, hold or remit overseas. Other fiat payment methods such as cards also come with limitations. There are fees to pay as well. If you use a wire transfer, you will quickly find out that it is a slow process filled with loads of paperwork and mind-boggling bureaucracy.

Every user or shopper wants means of payment that they can get easy access to, devoid of all the drama that goes with the use of fiat payment channels. Bitcoin has come to be the payment means that provides the payment access that users need. This has been especially helpful for citizens of countries in Africa and South America, where access to the conventional global payment systems is usually limited.

Payment Confirmations Are Fast – Deposits made using Bitcoin or other cryptos usually require a minimum of three confirmations for approval. These days, such confirmations are approved fast, ensuring that users of the Bitcoin casino platforms confirm their deposits and also get their payouts faster.

How Does a Bitcoin Casino Work?

The mainstay of any online casino operation is the software on which it runs. Typically, there are two types of Bitcoin casino software:

• Turnkey
• Proprietary

Turnkey solutions are typically cheaper to create and are designed for widespread use, with options for customization to each brand. The turnkey nature of the solution does not allow for deep customization of game types, and the options to create brand new games are unavailable.

In contrast, the proprietary software is designed by in-house developers, and built to suit the unique product offering for the Bitcoin casino in question. Deep customization of gameplay types, adding unique features and new casino game types are the main reasons why a Bitcoin casino may opt for an in-house product as opposed to a turnkey software.

Whatever software is used for the Bitcoin casino, the essential performance of the casino is the same. The software can conduct game plays without the need for human direction. Operations are, therefore, mostly digital.

The digitalized nature of online casino operations usually presents trust issues. Players would want to know if cards were shared fairly or would like to find out if there is an unseen hand actively influencing game outcomes. However, the coming of blockchain technology and the open access it gives all participants appears to have taken care of most of the trust issues.

How to Cash Out from Bitcoin Casinos?

It depends on the casino, however, cashout is usually an easy process. The beauty of it is that the user gets payments as soon as three confirmations are achieved on the blockchain. In many cases, this takes as little as 15 minutes.

When cashing out from your Bitcoin casino account, you will be required to head over to the cashier page of the online casino website or app.

You will enter the amount you are cashing out, and also enter the address of your external Bitcoin wallet. Please make sure you check your address before clicking the button to execute the withdrawal, as any Bitcoin sent to a wrong or non-existent address will be lost forever. In many cases, the Bitcoin casino will require you to have 2-factor authentication in place so that no one other than yourself will have access to your account for withdrawal purposes.

When cashing out online from a Bitcoin casino, your number one priority should be security.

Many stolen Bitcoins are sent to casinos and you would not want to be a recipient of some of these coins, especially if you live and operate your Bitcoin wallet from heavily regulated jurisdictions. It is therefore recommended that you use a wallet provider that does not permit tracing or would permit you to mix your coins before you use them in your regulated wallet.

For those of you who have embraced the 21st century and do most of your browsing on your mobile phone, we have ensured that all of our recommendations are fully-functioning iphone and android gambling sites – with many available as casino phone apps in the relevant app stores

Join the Best Bitcoin Casinos!

All the Bitcoin/Crypto gambling sites listed here at SmashCasinos.com are licensed, regulated and safe to join. Not only that, but they all have the best selection of online casino games and fast cash-outs. You can read comprehensive reviews of all our recommended online casinos, as well as play free slots and learn how to play roulette, blackjack and Crazy Time.

Should you wish to browse our selection on your mobile phone, almost of all our recommended partners have dedicated games on the Apple store and Google Play store, packed with a huge selection of gambling games to try including live dealer options.