The best Online Bitcoin Casinos that accept players globally including those from the United States, Asia, Europe and elsewhere, Below is our recommended list, Most have instant payouts and fast easy deposit methods.
Bitcoin Casinos for Online Gambling- The Benefits
Before we can discuss the benefits of using bitcoins for online gambling casinos, we need to know what exactly bitcoins are.
Bitcoins what are they?
Bitcoins is still somewhat new as they are a form of digital money that is created and controlled through digital encryption techniques. Bitcoin is a peer to peer monetary transaction system, with the biggest advantage being it is free from centralized banks. There is NO middleman or centralized banking body involved as it works with the generation, transfer and verification of digital money between two peers that occurs through an open-source software.
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Where to buy Bitcoins
To purchase bitcoins, there are a number of exchange companies that have bitcoins available for purchase. The simplest and fastest way is to use an exchange company that sells bitcoins Localbitcoins.com is one of the easiest to use and you can pay using various methods, Credit or Debit card, paypal, Neteller, Cash, Transfer wire etc, nearly every payment method is available.
An important side note: Be aware that the daily price of Bitcoins can fluctuate rapidly throughout the day and should be watched on a consistent basis for the best opportunity to buy and/or sell. Feel free to visit Bitcoinkurs.com to check prices bicoin prices dailey.
Bitcoin Wallet explained
Simply put, it is exactly that… a wallet. It is an electronic account that is used to receive, send, and hold your encrypted currency. You can create a bitcoin wallet through two different ways; by installing cryptocurrency software on your computer’s hard drive or two– registering online for for bitcoin wallet with the many web based services that cater to bitcoins. Whichever wallet you decided to go with, there are pros and cons to both uses when it comes to security and safety.
Provably Fair Gambling- How Does it Work?
Though, maybe tough to understand, the provably fair gambling works on the basis of a cryptographic hash function. A cryptographic hash function is an algorithm for creating encrypted hash value against the server and clients seeds. In short, the procedure of provably fair gambling occurs through the following steps:
- A secret seed is randomly generated and then encrypted into a hash code by the server.
- The hashed code of the server seed is sent to player.
- The player inputs a random client seed.
- Both seeds are mixed through an encrypted function to create the result.
- When it comes to player verification, the server seed is revealed to the player again to check.
Can Players be Cheated Using Bitcoin Gambling Site?
In a nutshell with the cryptographic hash functions that are being used… the answer is no for a casino to cheat a player. But, keep in mind this is a game of money. Be aware there are some sketchy casinos that will use some type of tricks to cheat their players such as disconnection of the software of nonpayment of winnings to their players. Do some due diligence and read the reviews and feedback on that casino before making a decision.
We here at Wonder Punter will do our part to ban any affiliation with any online casino that comes into question with any type of fraudulent activity.
Fast Cash outs and easy deposits
When using bitcoin for deposits and withdrawals, the process is fairly quick. If it’s a smaller bitcoin amount, the process is very fast and instant if you have your wallet account is ready to go. However, for larger bitcoin amounts, the process may take anywhere from 2 to 10 hours to deposit or withdraw. Just watch for the pending transactions to monitor when your transaction has a changed status or is cleared.
Keep in mind all bitcoin casinos will use appropriate security measures when it comes to large bitcoin payouts and may take anywhere from a few minutes to 2 hours in median, no matter the amount of the bitcoin involved.
Free Bitcoins From Bitcoin Casinos
Many bitcoin casinos now offer free bitcoins to new players and affiliates as well for many different activities such as casino registration, player referrals for signup and gameplay and many others. These free bitcoins are used mainly for promotional purposes and of course… certain terms and conditions may apply. Some casinos may also offer free bitcoins as a bonus on games, etc.
Are a Credit Card or Bank Account Needed to Gamble?
When it comes to wanting to use a bitcoin casino, a credit card or bank account are not necessary to have. Feel free to gamble using bitcoins transactions as they are not only easy to send/receive but bitcoins are free of charge and/or deduction free. Whereas, using a credit card or bank account statement may incur additional processing fees, bitcoin transactions are free of charges, except a 0.0001 Bitcoin transaction fee; (less than 2 cents) at time of this write up.
Regulated Bitcoin Casinos
When it comes to regulation of bitcoin casinos, not all are regulated but some casinos that have become reputed are regulated and licensed. Much like other casinos, bitcoin casinos are required to be licensed in the country it operates, but some bitcoin casinos may not be licensed so once again it is important that some due diligence is involved when determining a bitcoin casino is properly regulated and licensed before investing any money.
Bitcoin Deposit Bonuses
Deposit bonuses are a special promotional offering in regards to terms of percentage of original money or player deposits and of course varies from casino to casino. Depending on the casino you are using, the deposit bonus will be based on wagering, a minimum amount of bonus to reach before it can be used or a minimum amount of games that must be played first. It is highly recommended that you review each bitcoin casino deposit and its bonuses before deciding which casino to invest your money in.
Are Bitcoins Casinos Safe and Secure?
There is no straight answer on the security of a bitcoin casino as it depends on the casino of your choice but as discussed already, it is important and highly recommended to review and investigate any new bitcoin casino you have an interest in.
Minimum Deposit Amounts
When it comes to a bitcoin casino, there is no minimum amount needed to deposit. However, when it comes to gambling on a bitcoin casino, the most commonly used bitcoin unit is a Milli-bitcoin (mBTC). For gambling purposes, when you deposit 1 bitcoin, it then converted into 1000 mBTC. Once converted, you can play games by way of the 1000 units of your bitcoin deposit. Any amount may be deposited to play games, however, there are some casinos that require a certain minimum amount so please review any such conditions prior to your initial deposit.
Does software need to be downloaded?
It depends on your preference but if you want to create a bitcoin wallet on your computer’s hard drive, the appropriate software will be needed to download and install on your computer. However, if you wish, you can use the services of a web based company for the use of a bitcoin wallet. Some bitcoin casinos require their clients to download and install the appropriate software on your computer for gambling use.
Are There Any Bitcoin Casino Sites or Apps for Mobile Use?
The answer is yes! Many bitcoin based gambling sites or applications work great on modern smartphones such as an iPhone, Android and others. These apps can be downloaded directly from the Google Play Store and Apple Store. Some bitcoin casinos offer their own software applications that can be downloaded directly onto your phone.
Types of electronic currency BTC, mBTC and uBTC
The abbreviation BTC means Bitcoin currency. The 1000th part of a bitcoin is called milli-bitcoin or mBTC. The millionth part of a bitcoin is called micro Bitcoin or uBTC. As discussed in the last paragraph, in bitcoin casinos, the 1000th part of mBTC is a very popular unit to play and wager with.
Bitcoin Gaming Sites vs. Regular Payment Sites
There a few reasons why using a bitcoin gaming site is an advantage over the more traditional payment methods that online casinos use. Here are a few:
- Very fast withdrawals and deposits
- No fraud is involved due to you securing your credit cards and other bank information
- With just one email address to create your bitcoin account, you play it anonymously
- Any bitcoin transactions such as receiving, sending and others are all free
- By using bitcoin encrypted currency, you get complete control over your funds
Being in control over your gambling desires and understanding gambling is a type of entertainment like any entertainment in our routine life. Gambling is form of expenditure NOT a form of earning.
Is Bitcoin betting online Legal?
The answer is YES! Bitcoin gambling is legal so long as the use of flat currency such as USD, Euro and other currency is a means of gambling currency. As of today, there is no known legislation on bitcoin gambling. Bitcoins are considered a form of payment for gambling purposes.
Is Any Personal Information Needed if Bitcoins is Anonymous?
No. All that is needed to deal in bitcoin currency is just a single email ID. In the future there may be some type of legal regulations but as of today a single email ID is all that is needed.
Bitcoin US Friendly Casinos?
The good news is yes, there are many US based bitcoin casinos that offer gambling services for US citizens via bitcoin digital currency. Just scroll to the top of the list to see our certified casinos.
Gambling with Bitcoin benefits
- Speed- No more waiting around for your winnings. All bitcoin payments are processed and paid out immediately. Just initiate your payment and it’s on its way!
- Anonymity- When it comes to using bitcoins in an online casino, you will have the option to remain completely anonymous. No name, address, credit card details or any other personal information will ever be asked. Sometimes, even an email address will not be needed.
- Value- When you use bitcoins at a casino, casinos are happy because they save on credit card fees. Proven to offer fair games, no expensive Certificates from third parties are needed; in turn, the additional savings are passed on to the players in the form of better rates and bonuses that you will anyone happy.