- Bitcoin Online Casino Payment Method in US
- 10 Best Bitcoin Casinos
- New Bitcoin Casinos
- Pros of Using Bitcoin Casino Payment Method
- Cons of using Bitcoin casino payment method
- Bitcoin Safety and Security
- Are Bitcoin casinos legal in the US?
- Bitcoin Games to play at Online Casinos
- Bitcoin Casino Bonus Codes and Promotions
- About Bitcoin Payment
- Alternatives to Bitcoin Payment Method
- Other banking options
Bitcoin Online Casino Payment Method in US
Despite the fact that BTC was created back in 2008, the mass use of this method occurred only in 2017. In the US, electronic currency is more developed than in many other countries. For this reason, it is much easier for American players to find a decent online casino bitcoin. Some of these casinos focus entirely on cryptocurrency and offer BTC as their only means of payment. Bitcoin Casinos are filled with the same variety and number of games, promotions, and other entertainment content as the playgrounds in which users play for money (US dollars, euros, etc.).
To understand the appropriateness of using this method of payment, you need to pay attention to the laws of the United States, which regulate gambling. Currently, in most states, online gambling is directly or indirectly prohibited, with the exception of three states. However, many laws adopted at the federal level contradict each other, thereby confusing the situation with online casinos. Currently, many legal experts argue that the Bitcoin casino operates in accordance with applicable laws. In addition, many positive factors, such as anonymity, ease of use and low commission significantly increase the demand for online casinos that accept bitcoin.
Get a Bitcoin Wallet
If you have never played bitcoin casino US before, then you will need some tips on how to start using the casinos that accept Bitcoin payment system. First of all, you need to set up an account. To play using BTC, you first need to purchase the coin and choose reliable storage for them. To do that, you should get a BTC-wallet. This is an easy-to-use application that is available for your PC and mobile phone. By its functionality, the application is like the usual electronic wallets where US players are keeping an electronic equivalent of paper money. There are many BTC wallets:
- Online wallets (this type of wallets is suitable for newcomers. In addition, they can be used from anywhere in the world. Please note that the security level is lower than that of other types of wallets);
- Local wallets (a program that is downloaded and installed on the user’s PC. Security is not absolute, but higher than that of online wallets since all confidential information is stored on the hard drive of the user’s PC);
- Hardware storages of digital currency (these are wallets for storing bitcoin installed on a stand-alone small electronic device. For operation, the hardware wallet is connected to a PC via a USB connector);
- Mobile electronic wallets (applications installed on devices with Android, iOS operating systems).
When choosing a wallet type, users should just go through a simple registration and purchase BTC.
Bitcoin Exchange USA
Bitcoin casino legal in the USA. And the players immediately asked the question of how to purchase virtual currency. There are several options to purchase BTC. To do this, players willing to gamble at bitcoin casinos USA need to open an account on the online cryptocurrency exchange. There are several popular exchanges that are available to players from the United States:
- Coinbase – it is a cryptocurrency wallet service and the largest US exchange. Coinbase is probably the fastest and easiest way to buy bitcoins in the US.
- CoinZoom – is an adjustable bitcoin exchange.
- Coinmama – is a reliable and trusted broker. You can purchase cryptocurrency with a credit card.
- CEX.io – allows you to purchase bitcoins using a bank transfer. In addition, in some cases, compensation is used for using this exchange.
- Coinbase Pro – is one of the largest BTC exchanges in the United States. Users can replenish their accounts with bank transfer, SEPA or bank transfer.
The most popular exchange in the USA is Coinbase. This exchange has a customer base exceeding 13 million. You can buy BTC with a debit card or just from your bank account. The commission for the purchase using a debit card will be 3.99%, while the purchase through a bank account is subject to a commission of 1.49%. However, the player will receive his cryptocurrency instantly.
Select Trusted Bitcoin Casino
The pleasure of the players and, as a result, the size of the winnings will depend on the right choice of casino. To have fun without worrying about security and anonymity, players need to carefully choose the online casino. First of all, make sure that the online casino accepts BTC. Be careful, as some fraudsters intentionally provide false information about themselves thereby attracting players. Secondly, we recommend you to pay attention to the availability of support services and work schedules. Best online bitcoin casinos offer 24/7 player support. In addition, we advise you to check the casino bonus offers, as well as whether the casino allows withdrawals using BTC. We recommend paying special attention to bitcoin casino software. To save your precious time, we have compiled a list of top bitcoin casinos. In the list of best bitcoin casino USA, you can see BoVegas Casino, Betway Casino, El Royale Casino.
Bitcoin Deposit to USA Online Casino
Making a deposit at casino with bitcoin payment method is quite simple. First of all, you should become a BTC user. We talked about how to open a BTC wallet in our article above. After that, you just need to follow simple rules. Please note that each casino can set its own limits. The minimum deposit using BTC is from 0.0011 BTC ($ 10). The maximum deposit in most cases is 100 dollars or 0.011 BTC.
To simplify the process, we have prepared step-by-step instructions for you:
- Register in an online casino that accepts BTC (you can choose bitcoin casino USA legal in our list);
- Go to the cashier section in the casino (in this section, select BTC as the preferred payment method);
- Enter the address of your BTC wallet;
- Indicate the amount of the deposit you wish to replenish to the casino account (take into account the limits that the casino sets);
- Confirm the deposit and proceed to the game.
Bitcoin is a method by which a deposit is replenished instantly. Pay attention to all the bonus offers that you can receive after replenishing the deposit. Please note that refunding online casino BTC is not possible. All Bitcoin transactions are carried out in such a way that they cannot be canceled or suspended.
Bitcoin Withdrawal from USA Online Casino
When choosing a casino, pay attention to whether it is possible to withdraw winnings using this payment method. The withdrawal of funds is practically no different from the algorithm you already know. We have prepared step-by-step instructions for you:
- Go to the “Cashier” section in the casino;
- Select the option “withdraw funds” and then “Bitcoin” among the proposed payment methods.
- Enter the address of the BTC-wallet (it can be copied in the application that you use);
- Enter the amount you want to transfer (pay attention to the limits that the casino sets);
- Recheck your data (we recommend checking the correctness of the data you entered several times);
- Confirm the transaction.
After completing this algorithm, funds will be credited to your account as soon as possible. It is important to add that there are bitcoin casinos instant withdrawals. In addition, remember that the minimum withdrawal amount is $20 or 0.002 BTC. Limitations on the maximum amount will vary depending on the casino.
Bitcoin Casino Transaction Times and Fees
In most cases, transactions using BTC are instant or take minutes. This is due to the lack of transaction processing in an external bank, as is the case with a credit card or traditional bank transfer. This applies not only to deposits but also to the withdrawal of winnings from BTC casinos. Please note that the time is indicated without considering the time that the casino processes the transaction. For security reasons, online casinos may consider withdrawing a prize from 24 hours to 5 days. After approval of the withdrawal, you will receive the money in a matter of minutes.
As for fees, there are practically no fees in the Bitcoin online casinos payment system. The commission for some transactions can be from 1% to 1.5% of the amount. Nevertheless, one should bear in mind that some casinos may establish additional commissions for players for transactions.
10 Best Bitcoin Casinos
As you might have guessed, it is quite difficult to choose an online casino that accepts Bitcoin. For this reason, SlotsSpot experts have compiled a list of the top 10 Bitcoin casinos in the US that accept crypto players.
10. Bovada Casino
Bovada Casino opened in 2011 and provides access to around 300 slot machines, live games and sports betting. The gambling site operates under license from Curacao and uses software from Rival, Proprietary Software, RealTime Gaming. The casino is focused on US residents, it is closed for citizens of most European countries. As a welcome bonus, players receive up to $ 3,000 with a x25 wager. For referring a friend, a $ 125 bonus is awarded, and for playing live poker – 100% for a deposit (up to $ 500).
The only account currency at Bovada Casino is the US dollar. Players can replenish their balance and withdraw money in cryptocurrencies – Bitcoin and Bitcoin Cash, as well as through their own bank card. The minimum deposit in a casino that accepts Bitcoin is $ 20, withdrawal is $ 100. For the first deposit using cryptocurrency, a 75% bonus is awarded (up to $ 750). The use of cryptocurrency ensures anonymous transactions.
9. Rolletto Casino
The new Rolletto Casino was founded in 2019 and uses the Curacao license. The site has about 600 gambling games from 25 providers, such as Ganapati, Platipus Gaming, Booming Games, NetEnt, Microgaming, Pragmatic Play, Evoplay, etc. Classic and new slots prevail in the range of Bitcoin casinos, you can play table games (including number in live mode) and place a bet on sports. For new players, a bonus is provided – up to $ 6,000 for the first 3 deposits.
Rolletto is one of the casinos that accept Bitcoin, Ethereum, Litecoin, Bitcoin Cash. An account on the site can be created not only in dollars, but also in cryptocurrency, which allows you to do without exchange operations. Players can immediately withdraw Bitcoin to their personal wallet. The minimum withdrawal amount in dollar terms is 20 USD. The casino credits a 10% bonus for depositing an account in any cryptocurrency with a wager for wagering x20.
One of the popular American casinos accepting Bitcoin is 7BitCasino. The advantage of the site is the ability to open an account directly in cryptocurrency (BTC, ETH, BCH, LTC, DOGE and USDT). Financial transactions are carried out instantly and without commission. Crypto payments can be made using P2P transactions.
On the gambling site 7BitCasino there are thousands of slots, table games (roulette, poker, baccarat, blackjack), and the amount of the jackpot being played is displayed in Bitcoins. The software of trusted companies is used: 1x2Gaming, 2 by 2 Gaming, Amatic, Belatra, Betgames, BetSoft, etc. Live mode is a strong point of the casino thanks to 4K videos and croupiers who speak English and Spanish. Access to the games is provided under a license from the island state of Curacao. For users, there is a welcome bonus package (up to $ 500), daily cashback, a bonus on Mondays (25% for a deposit), free spins on Wednesdays.
7. BC.Game Casino
More than fifteen hundred games, bonuses and accepting payments in Bitcoins are the main features of BC.Game Casino. The gambling site uses software from trusted companies such as BetSoft, Yggdrasil Gaming, QuickSpin, Habanero, Booming, Platipus and others. The game’s fairness and safety is confirmed by the Curacao license.
BC.Game Casino mainly uses video slots, but roulette, poker and baccarat are also available, including with real dealers. For the first three deposits, players are given a 180% bonus, the fourth – 240%. There are rewards for completing tasks, a bonus for rakeback in poker and a loyalty program with VIP levels. The casino accepts not only Bitcoin, but more than ten other cryptocurrencies: Ethereum, Dogecoin, Ripple, Bitcoin Cash, Litecoin, EOS, etc. Players can create an account directly in BTC to avoid converting funds.
6. Super Slots Casino
Super Slots Casino is a new casino that accepts Bitcoin. The site has been operating since 2020 under a Panama license and provides access to several hundred games produced by BetSoft and Concept Gaming. The range of slots is not impressive, but the casino offers different types of blackjack, roulette, poker and craps. Users can play with live dealers, participate in promotions and lotteries. As part of the welcome package, bonuses up to $ 6,000 are awarded.
Super Slots Casino is popular with cryptocurrency customers. You can replenish your account and withdraw money using Bitcoin, Bitcoin Cash, Ethereum and Litecoin. The minimum deposit amount is $ 20, withdrawal is $ 100,000. There is a separate bonus for Bitcoin players – 100% for the first deposit (up to $ 4,000), which is won back with a x48 wager. Another bonus of 5% is available for any balance top-up in BTC.
5. Andromeda Casino
Andromeda is a bitcoin casino that opened in 2021. The gambling site offers crypto players a unique bonus – up to 275% and 20 free reel spins for a BTC deposit. Accrued funds are wagered with x20 wager. When betting on fiat money, beginners receive a welcome bonus package of up to $ 5,000, 10% of the deposit when playing with high limits, and monthly free spins.
The gaming range of Andromeda Casino is represented by several hundred gambling games produced by Belatra, BetSoft, Igrosoft, Triple Edge Studios, BGaming, Endorphina. There are a small number of table games – poker, roulette, blackjack, sic bo. Access to the games is provided under the Curacao license. For registered players of Bitcoin casinos, tournaments and lotteries are held with prize pools of tens of thousands of dollars. Crypto players may face a significant inconvenience, because the minimum withdrawal amount for Bitcoin is equivalent to 1,000 USD.
4. mBit Casino
mBit Casino is a renowned casino that accepts Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Dogecoin. The gambling site operates in accordance with the laws of Curacao. More than two thousand games are presented to the attention of players – these are video slots, keno, craps, roulette, poker, sic bo, jackpot games. The casino uses software from only trusted developers, such as Amatic, Betsoft, EGT, Endorphina, Evolution, GameArt, Habanero, Microgaming.
Among crypto players, mBit Casino is known for its generous bonuses. For the first deposit in Bitcoins, the player is credited another 110% on the balance (up to 1 BTC). For the second replenishment of an account in BTC, 50% is given, the third – 25%. In addition to the welcome bonus package, the newbie gets 100 free reel spins, as well as the opportunity to become a member of the VIP club. A casino account can be opened directly in cryptocurrency, and deposits and withdrawals are instant and commission-free.
3. Bspin Casino
The main feature of Bspin Casino is the use of only Bitcoin for payments. Cryptocurrency is the only way to deposit and withdraw funds. Deposits are credited to the balance instantly, the minimum amount is 2.000 μBTC. You can withdraw up to 10 BTC per week.
For visitors to the Bspin Casino website, there are more than 1,000 gambling games licensed by Costa Rica. Bitcoin casino provides access to software from BetSoft, BF Games, Booming, Endorphina, Ganapati, Kalamba, Pragmatic Play and others. Video slots and table games are available in the catalog. The site’s bonus policy is adapted for cryptocurrencies. For the first deposit, beginners receive a 100% bonus, the second – 50%, the third – 75%. The maximum size of each gift does not exceed 1,000,000 μBTC, and in addition, 20 free reel spins are credited. Bonuses are cleared with x35 wager within 30 days.
2. Red Dog Casino
Young Red Dog Casino was founded in 2019 and provides access to gambling under the Curacao license. The site is geared towards US players, but also welcomes visitors from Canada, Australia and New Zealand. The software is used only by the provider RealTime Gaming, which limits the catalog to two hundred games. Slots, poker, blackjack, roulette and jackpot games are available.
Bitcoin is used as one of the deposit and withdrawal currencies at Red Dog Casino. The player can withdraw funds to the Bitcoin wallet in the equivalent of 150 USD. Bonuses are provided for all users. Casino newbies receive a first deposit bonus of 225%, and using Bitcoin gives another 20% of the deposit amount. To withdraw the bonus money, you need to wager 35 times. According to the terms of the “24/7” promotion, the player receives a bonus of 120%, 135% or 160% for a deposit of $ 30, 75 or 150.
1. BetUS Casino
BetUS Casino is one of the oldest legal casinos that has been operating since 1994. The site accepts deposits and pays out money in such cryptocurrencies: Bitcoin, Bitcoin Cash and Litecoin, but the only account currency is the dollar. When using cryptocurrency, the player is limited to one transaction per day. A casino accepting Bitcoin does not charge any fees.
The BetUS Casino website is licensed in the jurisdiction of Curacao. The software is presented by BetSoft, Visionary iGaming, Nucleus Gaming, and the number of gambling games reaches 300. The catalog contains video slots and dozens of table games. In addition, the casino accepts sports betting. When using cryptocurrency for the first deposit, the player is credited with a bonus of 250% (up to $ 5,000) with a wager of x30 and a condition of use within 14 days. For replenishment of the account by the attracted friend, a bonus of 100% is given.
New Bitcoin Casinos
Of course, new gambling sites are appearing on the market that accept Bitcoin payment method, which may be of interest to players. Below you will find some of the newest Bitcoin online casinos.
|Rank||Casino Review||Established||Payment Methods||Number of Games||Bonus|
|4500+|| 100% Up To €/$2125 + 250 FS|
|2||Divas Luck Casino||2021|
|600+|| 100% Up To €1000|
Pros of Using Bitcoin Casino Payment Method
We have already mentioned the benefits of casinos that accepts BTC many times. Nevertheless, we should talk in more detail about all the possibilities that cryptocurrency gives us.
- Easy to use (all transactions using BTC are carried out in just a few clicks);
- Transaction speed (money is credited to the player’s account almost instantly, unlike some outdated methods where you have to wait a few days);
- Low commissions (in the best bitcoin casinos commissions are either low or completely absent);
- High withdrawal limits (in most online casinos, the withdrawal limits using BTC wallet are much higher in comparison with alternative payment methods);
- Anonymity (in the modern world, anonymity is rare, but thanks to cryptocurrency it is possible. Players do not need to provide personal data);
- A large selection of bonus offers from casinos (very often bitcoin online casinos offer more generous bonuses in comparison with other casinos);
- There are no geographical restrictions (you can use BTC from anywhere in the world. However, note that the casino of your choice may have territorial restrictions).
Cons of using Bitcoin casino payment method
After the above advantages of Bitcoin online casinos, it seems that there is nothing to say about the shortcomings. This is partly true. The disadvantages of this payment system are very few and all of them are not significant.
- BTC is not such a popular payment method as many others (this is the main drawback of this payment system because due to its small popularity some players are still afraid to try it and do not fully trust it);
- It is not regulated by any government (at the same time, this is a questionable disadvantage, since it entails a number of advantages. It is a matter of no taxation, fast transactions and a high level of security due to decentralization);
- Not a large list of Bitcoin online casinos in the USA (despite the fact that the list of casinos accepting BTC has already exceeded several dozens, this figure is still small compared to the global gambling market);
- You need to create a BTC wallet before you start playing in the casino (players will need to take a little time to start using this payment system. But this is only the first time).
Bitcoin Safety and Security
By their nature, Bitcoin online casinos are some of the safest sites on the gambling market. This is due to the fact that there is no connection with player names, bank accounts and other personal information. Transactions are carried out according to a new system called blockchain. No one will be able to use the player’s personal information for his personal purposes. BTC transactions are digital and highly encrypted. During each transaction, a series of checks are performed to verify the integrity of the transfer. In addition, your transactions are not tracked by the central bank or third parties, as is the case with more traditional payment methods. The use of the Tor network, which hides the true IP address, but does not change the bitcoin address, can provide additional anonymity for Bitcoin operations. Also, to preserve confidentiality, a “bitcoin mixer” can be applied, which mixes different users at the input of a bitcoin in one transaction and makes a lot of payments at the same time. This makes it difficult to match senders and payees.
In 2013, Bitcoin was recognized worldwide as an important innovation by receiving the TechCrunch Award for Best Technology Achievements.
Are Bitcoin casinos legal in the US?
Bitcoin gambling is completely legal in the USA. The legislature made it clear that betting on cryptocurrencies in online casinos is not prohibited, but restrictions may be set in certain states. For example, playing at Bovada Bitcoin casino is prohibited in the states of Delaware, Maryland and some others. Residents of such states will not be able to register on the site.
Restrictions may also apply to online sports betting at Bitcoin casinos. They are banned in the United States under current law, but no practical countermeasures have been developed or are not working. Players are encouraged to study the rules of the selected casino, which describe possible prohibitions and territorial restrictions. Additional questions can be asked to support.
When considering the legality of Bitcoin casinos in the United States, one should also take into account the legality of the site itself in the country. As we can see from the rating above, most crypto casinos use the Curacao license. Of course, such a license cannot be called the most authoritative, because the jurisdiction weakly protects the rights of players. But to work in the United States, you must have any license approved in the country. Less popular jurisdictions are Panama and Costa Rica.
It should be remembered that winnings at online casinos, including those on Bitcoin, are taxed in the United States. Therefore, it is necessary to take into account the gains and losses when drawing up the tax return. More information is available on the official website of the IRS USA.
Bitcoin Games to play at Online Casinos
The list of games that can be played in casinos that accept bitcoin is very large. In fact, such gambling sites are no different from other casinos, except that you may wish for bets in BTC. Best bitcoin casino typically showcase an exciting collection of different types of games, such as video slots, baccarat, roulette and blackjack, which are produced by various providers. In all US casinos with bitcoin payment system, a player can place bets at the BTC, as well as receive winnings at the BTC. Minimum/maximum rates amounts are also very liberal and universal, given different budgets. We will tell you more about each type of game that you can play at Bitcoin online casinos.
Online slots are the most popular category of games in all bitcoin online casinos. The goal of the game is a winning combination of symbols for one rotation of the drum. The gameplay of online slots in casinos that accepts BTC is no different from slot machines on other sites. In every good casino with bitcoin payment system you can find hundreds of varieties of slot machines. All of them will differ in RTP, bonuses, the number of paylines and reels. In addition, modern slot machines are made in the most unusual styles. In a Bitcoin casino, you can even play slot machines with a progressive jackpot. All bets are placed in BTC or converted into US dollars.
Therefore, as soon as you open an account with casinos accepting bitcoin, do not hesitate to first examine the slots for BTC to see which one suits you best.
Bitcoin Table Games
Of course, board games are slightly inferior in popularity to slot machines, but nevertheless they should not be missed from our attention. The selection of board games in the Bitcoin casino is unusually large, including roulette, poker, baccarat, craps, blackjack and much more. Some casinos may still add a monopoly to their list. As with slots, there are several options for playing board games. Depending on the casino, you will be able to bet in BTC or convert to another currency. In American casinos, the default currency is the US dollar. It means that even if you make a deposit in bitcoins, the casino will automatically convert your BTC to US dollars at the current rate. This will not cause inconvenience to the players.
Poker is a card game which goal is to win bets by collecting the highest possible poker hand using 4, 2, or 5 cards, or forcing all opponents to stop participating in the game. In Bitcoin online casino, you can see several types of this game at once. The most popular games in the USA are Texas Hold’em, 7 Card Stud, Exchange Poker. Playing poker requires certain knowledge and skills from players. There are a number of strategies that allow you to win in this game. For this reason, playing poker in a Bitcoin online casino should be after acquiring skills in other gambling games.
Every American casino with accept bitcoin also has real money roulette games. Roulette is a game of chance, which is a spinning wheel with 36 sectors of red and black colors and the 37th green sector “zero”. The goal of the game is to predict the combination that will fall at the end of the wheel rotation. Roulette is not inferior to poker games in its variety. Bitcoin online casinos have American roulette, French roulette and European roulette. In addition, some software vendors add interesting special effects or an exciting storyline to their games.
Blackjack is one of the most popular card games in the casino, which is also present in many bitcoin online casinos. Blackjack is a card game for intellectuals and those who like to try their luck. The essence of the game is to score 21 points using as few cards as possible. To play blackjack, you need to learn strategies and learn how to put them into practice. There are several types of blackjack in bitcoin online casinos, such as European blackjack, American blackjack and Spanish blackjack. To choose the most suitable for you, get to know each of them closer.
Among American players, bookmakers are in great demand. This is due to the popularization of sports and sports games in the country. Modern betting shops along with casinos strive to add BTC to the list of available currencies. Players have access to a large number of sports and competitions. As in the case of Bitcoin online casinos, bets can be placed either in BTC or by converting them into US dollars at the current rate. Betting using a BTC wallet is always safe and convenient.
Bitcoin Casino Bonus Codes and Promotions
In order to draw the attention of players to the site, many casinos offer various bonus offers. As BTC is becoming such a popular deposit method in the industry, online casinos have made special bonuses for players who use BTC. You can try your luck at real money bitcoin casino free play. The most common types of bitcoin casino bonuses are no deposit bonuses, first deposit bonuses and free spins. Bitcoin casino bonus code is in great demand. Bitcoin casino promo codes gives players a number of additional features. You can get it through promotions or on sites that offer online gambling services. Please note that each casino has personal wagering conditions. Thus, before you can collect your winnings, you must make sure that you have fully redeemed your bonus. We will talk more about each type of bonuses later in this article.
Bitcoin Casino No Deposit Bonus
Bitcoin casino no deposit bonus USA is one of the most generous bonuses in the vastness of online casinos. Not every site can offer it to its players. Bitcoin Casino no deposit bonus is one of the types of casino promotions that provides players with money when opening an account or try out a new game without making a deposit. Bitcoin casino no deposit bonus codes are special promotional codes that give players privileges. Money is credited to the players account without making a deposit, and the chances of winning real money are saved. Such bonuses allow Bitcoin casino players to get acquainted with a new gaming site or test games with minimal risk.
Bitcoin Casino Free Spins
Bitcoin online casinos free spins can get both new players and VIP players. This can be in addition to no deposit bonuses or in the first deposit bonus. In addition, free spins are provided to players to learn more about a new online slot. Most of the casino with bitcoin payment system players are given free spins on the occasion of the holidays or for becoming VIP players. Nevertheless, as is the case with other types of bonus, free spins will also have to be won back before you may withdraw the winnings. Please note that some free spins can only be used on those slot machines that are specified in the bonus conditions.
About Bitcoin Payment
Bitcoin is a peer-to-peer system used by the currency of the same name. At the heart of the Bitcoin online casinos payment system is a technology called a blockchain. The first BTC unit was launched in 2009. In February 2010, the first service for buying BTC Bitcoin Market appeared on the network. In the same year, the first exchange of BTC for goods by the American Laszlo Hanech took place. It was a symbolic purchase of pizza for 10,000 BTC. In February 2011, bitcoin equalled the value of the dollar, and in March, cryptocurrency exchanges were opened. At the moment, the price of 1 BTC = 9,213 US dollars.
At this stage, cryptocurrency is gaining popularity in the United States. Already, many Americans are shopping and playing in bitcoin casinos. At the same time, Bitcoin casinos are legal in the USA and were not subject to harassment. Cryptocurrency is rapidly gaining momentum precisely thanks to the advantages that we have listed above in this article. Now there are more than 3,000 bitcoin ATMs in the world, the main share of which is in America, Canada and Europe. For the first time, such ATMs appeared in the United States in 2013. An interesting fact is that only a third of the coins mined are actively involved in the turnover. The rest are inactive. Analysts suggest that most inactive BTC are simply lost or forgotten by their users. Experts remind that if the password from the BTC wallet is lost, it is impossible to recover it, this is how the system works.
Satoshi Nakamoto, Martti Malmi
Alternatives to Bitcoin Payment Method
For a long time, BTC remained the first and only cryptocurrency. However, at present, people can use more than a thousand different cryptocurrencies. Most of them are not very popular and do not represent special value. About 13 of the most popular digital and crypto- currencies account for more than 85% of the total market value. But only a few cryptocurrencies have taken firm positions in online casinos. However, we have compiled for you three alternatives that can replace the BTC.
Although BTC remains the most popular option for online gambling, we want to tell you more about some other options for making deposits and withdrawing winnings in casinos.The most popular of them are Ethereum Payment, Litecoin Payment, Ripple Payment. We will tell you more about them.
Ethereum Payment – Ethereum cryptocurrency is an open software platform based on blockchain technology that allows developers to create and release decentralized applications. It is implemented as a single decentralized virtual machine. Ethereum was originally created by Vitalik Buterin, a cryptocurrency researcher and programmer who previously worked at the casinos that accept BTC. Online trading held in 2014 became the main part of financing the new platform. The system went live on July 30, 2015, backed by 11.5 million coins. Many online casinos offer players to pay deposits using Ethereum Payment. With Ethereum Payment you can play at Joy Casino and BitStarz Casino.
Litecoin is a fork of Bitcoin, a peer-to-peer electronic payment system using the cryptocurrency of the same name. As of May 27, 2020, 1 LTC is equivalent to $ 43.63 and is the seventh largest cryptocurrency by value. Litecoin can be used to exchange bitcoins or generally accepted money in exchangers, as well as for electronic payment of goods or services, including for playing in a casino.
The advantage of Litecoin is that one block is generated in 2.5 minutes, which is 4 times faster than Bitcoin online casinos. With Litecoin, you can play at Bitstarz Casino and Betchain Casino.
Ripple is a cryptocurrency platform that is focused on currency exchange operations. The system began its work in 2012. The platform supports not only cryptocurrency, but also tokens, as well as minutes of voice communication and miles for those who like to travel. Ripple has a high transaction speed, which on average takes from 3 to 5 minutes. The security of this payment system is also good. Payments cannot be allowed without the permission of the account holder. In addition, payment processing is carried out automatically without the involvement of third parties. The user will receive a notification of payment within a few seconds after confirmation. If you want to use Ripple Payment visit 7BitCasino.