With cryptocurrencies gaining more mainstream adoption, the number of Bitcoin casinos continues to rise. Whether it’s a brand new casino using BTC or an established site that now accepts this digital payment method, players have a plethora of options.
However, keeping track of the best cryptocurrency and Bitcoin casinos is no easy task in this fast-paced industry, which is why we’ve done the legwork for you. You can compare the top-rated BTC casino sites in your country. All you have to do is choose your favourite and sign up to claim a bonus before you play.
Pros and Cons of Bitcoin Casinos
Bitcoin casinos offer players numerous benefits, but there are also some drawbacks. Here’s an overview of the main pros and cons so that you can decide if using a crypto casino is right for you.
Advantages of Bitcoin Gambling Sites
The Bitcoin blockchain is a decentralised digital currency that isn’t controlled by a bank or any government, which gives it certain advantages over traditional fiat currencies like US dollars and Euros.
Whether you’re in Canada, Japan, or India, Bitcoin remains constant. This makes it an attractive payment method because players can use any casino (in accordance with the site’s terms and conditions) under the sun. Furthermore, having a global payment method means that you are not burdened with foreign exchange fees, which can handicap players in specific countries.
At some Bitcoin casinos, your identity remains completely anonymous, meaning you can visit the site, make a deposit and start playing. Other casinos do require some level of verification, but this may only be an email address or phone number. Contrast this to heavily regulated casinos that want proof of ID and address for every player, and you can see why cryptocurrency casinos are becoming more popular.
✅ Fast Withdrawals
With a Bitcoin casino, you can typically expect your withdrawal request to be processed within minutes, so you usually receive your winnings within the hour. This is much faster than most non-BTC payment methods which can take up to seven days in some cases. Additionally, all transactions are stored on the blockchain; you have undeniable proof that payments were sent as it’s completely transparent.
Disadvantages of Bitcoin Gambling Sites
Of course, no payment method is perfect; otherwise, we would all use the same one. Even Bitcoin has some disadvantages that you should consider before using it.
❌ Price Volatility
The price of all cryptocurrencies, including Bitcoin, can be extremely volatile. This means that you could buy $100 of BTC, and a week later, it may be worth $70 or $140. To a degree, this doesn’t matter when you are using the currency at the casino. For instance, a slot game might cost 0.01 mBit a spin. This is fixed regardless of the dollar value of Bitcoin. However, when you want to withdraw and sell cryptocurrency for a fiat currency, you will notice a difference if the price has changed.
Many Bitcoin casino guides claim that cryptocurrencies have no fees, but this isn’t correct. Firstly, you need to buy the cryptocurrency with money from your bank account. Whether you use an exchange or a third-party service like Neteller, you will pay a small fee. The next charge is when you send your Bitcoin from an exchange or wallet to the casino, you have to pay a network fee. This can vary depending on how busy the network is. All in all, the fees are reasonable for most cryptos, but they do exist.
Bitcoin Casino Bonuses
Without question, Bitcoin casinos offer some of the largest bonuses around. This is simply because the value of 1 BTC has risen so dramatically; for example, a bonus of up to 1 BTC in 2011 was worth between $10 and $30. However, that same bonus today would be worth over $60,000. These are some of the most popular bonuses you’ll discover at our top-rated crypto casinos.
Often called a welcome bonus, these offers are exclusively for new customers. Most Bitcoin casino first deposit bonuses are ‘matched deposits’. For example, the casino could offer 100% up to 2 BTC. Of course, there will be wagering requirements and other terms and conditions, but nevertheless, it’s a generous offer.
Free spins bonuses are popular at all casinos. These offers come in many shapes and sizes. Some sites bundled them in with the first deposit offer, or you can find them as regular promos like in a game of the week. Typically, you will have to make a small deposit to activate the bonus, but not always - there are some no-deposit free spins available if you look around.
A reload bonus is essentially the same as a first deposit offer, but these are for existing players. Bitcoin casinos offer reload bonuses to keep players active and to entice them to continue making deposits. While the value of these bonuses is not as high as the first deposit, it’s still a good way to boost your bankroll before you play.
Bitcoin Casino Games
The variety of games found at Bitcoin casinos is no different to any other regular online casino or mobile casino app. However, some of the software providers may be different because they have developed games that accept cryptocurrencies. With that said, what many sites do is convert your Bitcoin into dollars for specific games, and when you’ve finished playing, the dollars are converted back to BTC.
Here are some of the most popular casino games you can enjoy:
- Jackpot games
- Video and classic slots
- Video poker
- Live dealer games