Bitcoin Casino Deposits – Everything you need to know about depositing with bitcoin and crypto
As the digital asset and cryptocurrency industries hot-up, increasing numbers of online casino and sports bettors are starting to deposit and play using bitcoin and other cryptocurrencies. If you’re looking for an edge, betting using bitcoin is now fast, secure and offers some intriguing advantages. This week we’re deep-diving into the world of bitcoin casinos, to give you an insight into this growing trend, plus tips on bitcoin casino wallets, crypto gambling advantages and tips on maximising the potential of BTC casino gaming.
How to Play Online Casinos with bitcoin
If you’re a bitcoin and crypto investor who also likes playing online casino games, then playing at the best bitcoin casinos might be something to consider. It might mean putting a little of your precious crypto into your casino account, but getting lucky could see you boost your crypto holdings – a double win if the price of BTC also rises at the same time.
Playing at bitcoin casinos with crypto is simple – but here’s a quick-start guide if you’re seeking more information before picking a crypto casino and depositing bitcoin:
Select crypto-ready casinos
Before you can play at an online casino or sportsbook using bitcoin, you need to ensure you’ve selected a brand that offers BTC deposits and wagering (plus any other cryptos that you’re interesting in depositing and betting). Adoption of crypto is relatively advanced in the online gambling industry, particularly with casinos. However, unsurprisingly, smaller brands are often ahead of the curve in many cases, versus big brand casinos that are often lagging behind niche industry-trends. Fortunately there are plenty of high quality and fully-licenced crypto casinos such as Betchain, which you can read about in our comprehensive bitcoin casino reviews.
Deposit using bitcoin at an online casino
Depositing at bitcoin casinos and playing games with crypto funds is fast and easy. Sites like Betchain offer a range of top crypto deposits and wagering – including BTC, LTC, ETH, DOG, BCH and USDT. Minimum crypto deposits are usually set around the 0.0001 BTC level, although it’s recommended to check a casino’s requirements before signing-up and starting the deposit process. If you’ve sent crypto before, then you’ll already be familiar with how to deposit bitcoin and crypto into a casino account; just log-in to your account, click “Add Currency” and copy the BetChain address; then add the address to your wallet payment box, pick the amount and instantly activate the transaction. Many casinos such as BetChain, also let you deposit in fiat currency and convert your funds into bitcoin.
Withdraw your bitcoin winnings
When it comes to withdrawing from bitcoin casinos, it’s just as easy as making a deposit; just swipe the QR code to manually enter your crypto wallet address. The only caveats to withdrawing crypto, is making sure you’re aware of any minimum withdrawal amounts and meeting any bonus terms that are applicable to an offer you’ve selected (e.g. withdrawing bonus winnings may not be possible prior to meeting wagering requirements, or may invalidate an in-play bonus such as free spins or bonus funds).
Bitcoin Casino Bonuses
One big incentive to play at crypto casinos is the bitcoin bonus offers, which in some cases are much bigger than standard casino bonuses.
Take the current 1xBit Casino bonus, which offers you a 100% first deposit welcome bonus up to the value of 1BTC, with four deposit bonuses worth up to Seven bitcoins.
Even if bitcoin isn’t approaching all-time-highs when you claim a bonus, these are very large bonus offers than few players will ever need to max-out. Most bitcoin and crypto bonuses are very flexible when it comes to how much bonus can be claimed, making them ideal whether you’re a small stakes causal player, or much higher-roller.
Top Bitcoin Crypto Wallets
When playing at bitcoin casinos, you’ll need a compatible crypto casino wallet. Although some casinos let you deposit fiat via a card and then convert into crypto without a wallet, you’ll still need to get a wallet if you want to withdraw any crypto winnings. Most crypto casinos support a variety of top crypto wallets such as Neteller; here are five top options to fund your casino account with bitcoin:
- Neteller: Fast crypto casino wallet from a globally trusted brand
- Coinbase wallet: Fund casino gaming via the famous Coinbase wallet
- Crypto.com wallet: 38+ cryptos, top rewards & fast crypto casino option
- Ledger: Classic cold storage casino funding option
- Trezor: Hardware & web wallet casino funding
The choice of wallet is really down to personal preference, with many good options available. You may also want to think about having a crypto wallet specifically for your casino gaming.
Pros & Cons of Playing Casinos with Bitcoin
Playing with crypto like bitcoin in online casinos is really starting to trend among online gamblers, casino fans and sports bettors. Depositing with your crypto has some distinct advantages, but it’s worth weighing-up the pros and cons of playing with digital assets, versus classic fiat currencies.
Convert fiat into crypto without impacting your main crypto holdings
One reason some casino players are wary of playing with crypto in casinos, is in case they lose some of their precious assets. However, you never have to risk your main holdings – simply buy some BTC with the fiat funds you’d normally deposit into a casino; then deposit your crypto into your casino account. For example, if you have 0.5 BTC in Coinbase that you want to HODL, you could top-up with $250 and then deposit the funds into a casino wallet.
Bitcoin casinos are offering some incredible bonus offers and it’s easy to find brands offering welcome bonuses in excess of 1-5 BTC. Of course, casinos themselves are keen to increase their bitcoin holdings given the long-term potential for price gains, so they’re keen to get players using bitcoin. But if you get lucky in casinos using crypto, their bonus offers can be much bigger than standard casino bonuses and therefore have the potential to be great for crypto holders. As noted above – you do not need to play with your main crypto holdings.
Crypto only games
Online casinos are increasingly making some crypto-only games, offering you the chance to enjoy some exclusive casino action, when you play with crypto. From bitcoin slots to intriguing gambling games such as dice, switching from fiat to crypto offers you some new twists in the casino.
Losing on BTC price rises
If you play with bitcoin and lose in a casino and the market price of bitcoin rises, then you’ll lose the gains plus the the money spent in the casino. In other words, if you deposit BTC when the price of bitcoin is $35,000 and lose $100’s worth of the crypto, but in the time period bitcoin rises to $40,000, then you won’t benefit from the price rise if you lose funds in the casino.
Gaining more BTC
In contrast, if you don’t lose any BTC in the casino and hopefully get some winnings, then you can withdraw BTC and end-up with more bitcoin holdings (e.g. if you deposit $500 in BTC and make $200 profit, then you’ll have more crypto in your wallet after withdrawing). Getting lucky in the casino can also see you gain twice if the price of crypto also rises.
Playing at unregulated crypto casinos could see you subject to bitcoin fraud. Fortunately by playing at full-licenced and regulated casinos like those in our verified bitcoin casino list, you can play with maximum trust and security. We strongly advise never playing at casinos that are not full regulated.
Play with micro bets
Although bitcoin casinos offer the potential of huge crypto bonuses for high-rollers, they also tend to offer casual players the chance to play with very low bets. Thanks to each BTC having 100 million satoshis, you can often find games take can be played with bets of one satoshi – a fraction of a standard fiat bet.
Betchain Welcome Bonus Offer with Bitcoin – Deposit Here