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Last updated May 27, 2020

Bitcoin Casinos | Casinos Accepting Bitcoin

Bitcoin is a new and innovative technology known as cryptocurrency. It’s essentially a new form of currency for the digital age. Bitcoin represents a safe and independent way for people to transfer money around, usually at very low cost and with ease.

Bitcoin has the advantage over most other methods that it’s not a centralized currency or service. No one owns Bitcoin and it can be used by anyone, anywhere in the world with no limits. The only thing you need to use it is an internet connection.

Thanks to its increasing popularity, Bitcoin is fast becoming one of the most common ways to transfer money online. Many online casinos are now starting to offer it as a payment method, allowing people to fund their account directly using Bitcoin. To see the full list of online casinos accepting Bitcoin, check out the list below. Keep reading if you’d also like to find out more about Bitcoin and how to use it.

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What is Bitcoin?

Bitcoin is the original example of a cryptocurrency and was developed as a completely decentralized currency, not controlled by any company or bank. First created in 2009 Bitcoin has since then seen numerous spikes in popularity. The popularity and userbase of Bitcoin have grown massively in recent years, and there are now millions of Bitcoin users around the world. Because it’s not owned by any entity, anyone can own a Bitcoin and you don’t need to sign up to use it. Owning and using Bitcoin is as simple as setting up a free address and buying your own Bitcoin from an exchange. Bitcoin can be purchased with regular currency at an exchange like Coinbase or Kraken. Be sure to transfer your currency off of the exchange once you’ve finished your purchase.

Using Bitcoin Online

Before you purchase any Bitcoin, you’ll want to first set up a Bitcoin wallet. This virtual wallet is used to store your coins, and you’ll use the public and private keys to send and receive money and access your funds. Be sure never to reveal your private key as this will allow others to access your funds. Once you’ve set up your wallet, you can then send and receive money either by using your own public address or by sending it to someone else’s address. If you want to use Bitcoin to send funds to your online casino account, first check that the casino accepts Bitcoin. If they’re featured on our list, you’ll then be able to choose Bitcoin as a payment method. The casino will give you an address which you’ll need to copy and paste to your wallet. Once you’ve entered the amount, the code and hit send, the money will be transferred across. The exact time taken for your transaction will vary, but most of the time payments are completed quickly. Average transaction time is less than an hour when using Bitcoin to make payments online. When you’d like to make a withdrawal, simply send your winnings to your Bitcoin address. Note that although there are lots of casinos accepting payments in Bitcoin, some still don’t allow you to withdraw directly using Bitcoin so you may need to use another service and then convert your cash to Bitcoin.

Advantages of Bitcoin

The biggest advantage of using Bitcoin for online payments is that you have complete control over your money. At no point will your funds be controlled by a bank or financial institution, as long as you have your private keys, you will have complete control over your Bitcoin. Another reason for the increased popularity of Bitcoin is that transfers are usually extremely quick and often free of charge. Fees do exist when moving Bitcoin but they’re usually a lot lower than the alternatives. Bitcoin is also simple to use. You will need to make sure that everything is secure and safe, but you don’t need to go through any lengthy signup process to own Bitcoin.

Disadvantages of Bitcoin

There are a lot of positive things about Bitcoin and cryptocurrency in general, but they do still have some downsides. For one, although creating a wallet and purchasing Bitcoin is fairly simple, it can be a little daunting for some people. The process can be confusing for first time users, and while there is plenty of information out there, it can be difficult for a first-time user to know what to do. On top of that, while owning your money directly is a big positive, it can suddenly become a big drawback if you lose your private keys. If you lose your keys, you’ll lose your coins completely. There’s no bank or customer service you can call to get them back.