Bitcoin Casino 2017 Guide
Privacy and security are the order of the day with Bitcoin Casinos!
If you’re a fan of gambling on popular casino games, you’ll notice that many casinos have online websites and apps to play games as well. Playing casino games online usually comes with multiple payment options, including Bitcoin.
Benefits of playing at a recommended Bitcoin Casino from our list:
- very short waiting times when cashing out your winnings (sometimes immediate)
- play online casino games without surrendering credit card information
- fully regulated, licensed and secure
- extremely low transaction fees
- unmatched privacy compared to other payment options
- safe and reliable payment option
What is Bitcoin?
Bitcoin is a type of digital currency you exchange your money into in order to buy goods over the internet. It is a highly favourable type of currency to use in digital exchanges since top-of-the-line encryption techniques are used when Bitcoins are generated and transferred from one party to another.
Bitcoin first came about in 2009 when it was created by a person supposedly named Satoshi Nakamoto, although it is speculated that this is an alias of a programmer or a group of programmers who wished to stay anonymous.
How Does Bitcoin Work?
The Bitcoin system is peer to peer, which means the money goes from entity A to entity B with no middleman involved. This means you can transfer money without the involvement of a bank.
When you play on a Bitcoin casino, you’ll find it extremely convenient since there are basically no transaction fees involved when it comes to playing on Bitcoin games. When you buy Bitcoins, there is also no need to give away personal details, such as your full name. Because of this, Bitcoins are extremely popular for purchasing items anonymously.
Commonly Seen Bitcoin Units
Bitcoin currently comes three main units: Bitcoin (BTC), milli-Bitcoin (mBTC), and micro-Bitcoin (uBTC).
The BTC is a whole unit, the mBTC is a thousandth of a Bitcoin, and the uBTC is a millionth of a Bitcoin. Other units that are commonly seen include the dBTC (one-tenth of a Bitcoin) and the cBTC (one-hundredth of a Bitcoin). When you gamble on mobile casinos, you’ll mostly see the unit of mBTC being used.
Bitcoin Units Table
Value if 1BTC = £100
(one tenth of a Bitcoin)
(one hundredth of a Bitcoin)
(one thousandth of a Bitcoin)
(one millionth of a Bitcoin)
|0.000001||Less than £0.01|
Bitcoin Buying Guide
If you’re interested in Bitcoin casino games, this is one of the few Bitcoin casino reviews that’ll tell you exactly how to go about investing in the digital currency.
When you go to play on a Bitcoin casino, it is helpful to first have a balance in your online wallet. Online wallets come in three forms: online, software (offline), and hardware. Almost all Bitcoin casino reviews agree that hardware wallets are the most secure type of Bitcoin wallet, but online wallets are the easiest type to use, especially if you’re not particularly tech savvy.
However, all three types of Bitcoin wallets should not be hard to use, especially if you take the time to read the instructions and familiarise yourself with each type of interface. You can actually join many Bitcoin casinos without having a balance in your Bitcoin wallet, so you can get acquainted with the wallet you choose before you actually add money in it.
How To Buy Bitcoins
There are two ways that you can add money to your Bitcoin wallet. You can ask friends to transfer Bitcoins from their wallets into yours, or you can buy Bitcoins – either from an exchange company or from individuals who have Bitcoins to sell.
Bitcoin is popular with a lot of people because of its inherent privacy. You can buy Bitcoins anonymously; the only information you have to provide is an email address. Bitcoin is very easy to purchase since it supports payment types of all sorts, such as debit cards, credit cards, and even cash.
The type of payment accepted depends on the seller you’re trying to buy from. The exchange rate for GBP (or any type of currency) to Bitcoin constantly fluctuates and is extremely volatile, so you should keep a close eye on the exchange rates and buy Bitcoins when the exchange rates are in your favour. That way, you can get the most out of your Bitcoin games.
Making Deposits and Cashing Out
You don’t have to have a credit card or bank account tied to your online casino account when you want to make transactions. All transactions go through your Bitcoin wallet, just like when you make real life purchases, all transactions go through your physical wallet.
When you make deposits or cash out your winnings, it shouldn’t take long at all for your transactions to go through. However, the length of time does depend on the amount of money you’re dealing with.
Short Waiting Times
For smaller transactions, transactions are almost instantaneous, especially if you already have a Bitcoin wallet set up. For larger amounts of money, it can take two to 10 hours for the entire transaction to be completed.
The reason for the longer wait time when dealing with larger amounts is that while all transactions are processed within a few minutes to two hours, the security measures employed by the Bitcoin casino may cause slight delays.
With a maximum wait time of less than half a day for cash outs, Bitcoin transactions are highly superior to many other types of withdrawal method. Cheques can take an average of five working days to be sent out, so waiting 10 hours for your winnings seems like a minor inconvenience in comparison.
Is There a Minimum Deposit at Bitcoin Casinos?
When you play on Bitcoin casinos, you’ll be glad to know that there are no minimum deposits required. Typically, the unit you will be mostly using on Bitcoin games is the mBTC.
The worth of an entire, whole Bitcoin can be hundreds of pounds at times, which is why most payments you’ll make when gambling online will deal with mBTC instead of whole Bitcoins.
If you’re interested in a casino, you should check out their terms and conditions carefully before you make a deposit, especially if you’re concerned about minimum deposit amounts. Although there is no minimum deposit required to play on a Bitcoin casino, you may run into some online casinos that put minimum limits on the amounts that you deposit to play.
What Do I Need to Download?
If you choose the hardware wallet as the type of your Bitcoin wallet, you’ll need to download the software for it and install it onto your computer. Otherwise, there are two more types of Bitcoin wallet which don’t require you to download anything else.
When signing up at the Bitcoin casinos themselves, you may find that playing on the casino’s downloadable software is more enjoyable that the web-based gaming experience they offer. However the vast majority of Bitcoin casinos offer extremely well-optimised and smooth gaming on all devices by simply playing through your web browser.
Bitcoin Games on Your Mobile Phone
Generally, you’d play on your laptop or computer, which means you’re usually limited to playing on mobile casinos from your home or place of work on your breaks. However, you can also enjoy Bitcoin casinos on your mobile phone.
Most Android smartphones and iPhones, as well as Android tablets and iPads, should be able to run Bitcoin casinos. When you buy Bitcoins, you’re able to play with any online casino games you wish to, provided that the casino itself accepts Bitcoins as payment (check out our list above for these).
How To Play At Bitcoin Casinos On Mobile
In order to play on a Bitcoin casino on a mobile phone or tablet, take a look at the list above and click on at the online casino you’re interested in. After you sign up for an account (or log into your account if you already have one), you will be able to start playing almost immediately.
Most Bitcoin casinos offer a mobile app for you to use as well. But if you don’t like downloading apps, you can just go into your mobile or tablet’s browser and access your favourite online casinos from there. Most online casinos are optimized for mobile use, which should mean that you have an
Bitcoin Casino Bonuses
With the selection of Bitcoin casino UK operators above, you may have trouble deciding on one or a few to invest your money in and play on. What can help you narrow your choices are the bonuses these Bitcoin casinos offer.
In order to motivate you to commit to making a deposit, many Bitcoin casinos will offer deposit bonuses. The amount will vary from casino to casino since it depends on their budget and how desperate they currently are for new customers. Some mobile casinos may even offer free Bitcoins for many things, such as making a new account with them, making referrals, playing new games they roll out, and more.
Bitcoin Casino Bonus Terms
Even though some deposit bonuses may seem extremely attractive, you may want to take a closer look at some of them to make sure you know exactly what you’re getting. Many of these deposit bonuses put a limit on the number of wagers and amount of bonuses you need to get before you can use it.
They may also limit you to a few certain types of games to use your deposit bonus on. Make sure you read the terms and conditions of your Bitcoin bonuses so you have a clear and full picture of what each Bitcoin casino is trying to offer you.
With this deeper understanding, you’ll be able to make an easier and smarter choice as to which Bitcoin casinos you want to put your money into.
Bitcoin Casinos: Are They Regulated?
Are Bitcoin casinos regulated? Well, yes and no. Not all of the Bitcoin casinos that exist are regulated, but the cream of the crop – such as those in our list above – are regulated and also hold licenses with the Gambling Commission which allow them to operate fully within the parameters of the law.
Technically, Bitcoin casinos must obtain a license in the countries in which they operate from, but because there are so many of them online, many Bitcoin casinos get away with not having a license. Even in the cases where an online casino does have a license, they may be from a country where they can just pay a license fee and receive a certificate. Just because a Bitcoin casino has a license doesn’t mean it is necessarily a trustworthy one.
Again, before you make a commitment to play on a mobile casino, you should do some research and find out more about the background of the casino and see what their previous customers have to say about their services and more. The casinos listed above are all vetted and recommended, so if you’re short on time, you can choose one from our list with confidence.
What is Provably Fair Gambling?
Fair odds are the cornerstone of an enjoyable online casino experience. What fun is it to gamble on an online casino that constantly undermines your ability to win? Fair odds are enforced through provably fair gambling.
Provably fair gambling occurs through a set of digital steps that are called cryptographic hash functions. Here’s what happens when you sign up at a mobile casino and play on your favourite casino games.
- Secret seed is generated — This secret seed is random and is encrypted into a hash code. This is all done by the server.
- Secret seed is delivered — This hashed code of the secret seed is sent to your device.
- Random client seed is inputted — This random client seed is inputted by you.
- Seeds are mixed up — Both of the seeds are then mixed up by an encrypted function.
- Secret seed is revealed — This is done for client verification. You are able to check the secret seed.
This method is popular with Bitcoin casinos, but is hidden behind a more user-friendly interface. However, there are tools that exist which can be used to verify the fairness of a game you just played.
How to Tell if a Bitcoin Casino is Fair
Because provably fair gambling is based on cryptographic hash functions, casinos aren’t able to swindle you out of your money through that system.
However, dishonest online casinos can cheat you out of your Bitcoins in other ways, such as disconnecting their software, refusing to pay you your winnings, and other types of shady behaviour. Naturally, none of the Bitcoin casinos in our list engage in such practices.
We can check the fairness of a Bitcoin casino by recording the hash function of their server’s seeds as well as the client’s seeds. If the results generated aren’t done locally, then we know that something is wrong and the Bitcoin casino may not be provably fair.
At CasinoGuide, we understand that not everyone has the means nor the knowledge to check this for themselves, which is why we are here to help. The Bitcoin casinos listed above are all totally fair and above board.
Are Bitcoin Games Secure?
As mentioned above, the use of Bitcoins is very secure since there are many encryption techniques used to protect you from unwanted people accessing your online wallet. When it comes to the actual Bitcoin casino itself, the security can vary. Although there are many reputable and trustworthy Bitcoin casinos, there are just as many unscrupulous ones out there.
When you’re interested in playing on a Bitcoin casino, be sure to check out our review of them before you make a deposit. A Bitcoin casino’s reviews can be very telling about how they run their casino and handle their customers’ concerns, so they’re definitely reading if you have the time!
Is Gambling with Bitcoins Legal?
As long as the country you’re in allows gambling with their currency, Bitcoin casino play is completely legal. Because they’re hosted from all around the world, a Bitcoin casino, UK or otherwise, will be able to take Bitcoin as if they were any other form of currency (which they are!).
Currently, there are no laws specific to Bitcoin gambling, so although that may change in the future, you should be fine to gamble with this currency so long as the country you reside in allows gambling with real money – UK players need not worry.
Bitcoin Casinos: An Easy Way to Play
The rise in popularity in online casinos is because of many factors, the main ones being that casinos don’t have to pay to maintain a physical casino and they can better serve their players by providing vast choices of games they can access from the comforts of their own homes or while they’re outside running errands.
If you’ve read many Bitcoin casino reviews, you’ll see that the general consensus is that Bitcoin casino play is advantageous in many ways. Even though the government has moved towards discouraging online gambling by restricting the different types of payment providers, Bitcoin has definitely flourished when it comes to mobile casinos.
Not only can you buy the currency anonymously, but you’re also buying it in a very safe and secure way. You pay a negligible transaction fee of 0.0001 BTC, which is currently less than £0.10. This is a significantly lower transaction fee when compared to credit cards.
Play at a Bitcoin Casino Today!
You have virtually no risk of compromising your personal information and you can rake in some attractive bonuses when you sign up with a Bitcoin casino.
So what are you waiting for? Get online, buy some Bitcoins, and get busy playing on your favourite casino games now!