There are a significant number of online casinos accepting Bitcoins as a transaction method. Bitcoins are relatively new as a form of currency and there is a lot to know about them. There is also a lot you will want to know when it comes to casinos that accept Bitcoin withdrawals and payments.
Why do casinos nowadays accept Bitcoin withdrawals? How do withdrawals happen at these casinos? What are the advantages Bitcoin withdrawals have over withdrawals using traditional currency? We will discuss all this and more on this page.
Casinos that Accept Bitcoin Withdrawals
Casinos that accept Bitcoin withdrawals are not very different from the regular online casinos. The popularity of Bitcoins has steadily gone up over the years, which is why you see quite a few well-known casino brands accepting Bitcoin withdrawals and payments. There are also mobile casinos that support Bitcoin payments.
Of course, things happen differently with Bitcoins and that is probably why you will find a few differences between these casinos and the regular ones.
- Bonuses: Casinos that accept Bitcoin withdrawals usually offer special bonuses to their players as incentive for playing and also as appreciation for signing up.
- Games: Most Bitcoin casinos have special games for players using Bitcoins for withdrawals and payment.
- Transaction fees: All casinos that accept Bitcoin withdrawals have no transaction fees; the fees if any are very nominal and that is a major difference compared to casinos that transact in regular currency.
The no-fee situation arises because there is no third party controlling the way Bitcoins work. That is not the case with regular currency.
- Country-based play restrictions: The country-specific limitation for players may not apply in Bitcoin casinos given the level of anonymity and independence that Bitcoin transactions give players.
Casinos that Accept Bitcoin Payments: The Withdrawal Process
Withdrawing funds at a casino where you are transacting in Bitcoins is fairly straightforward and easy. You should have won Bitcoins while playing the games to qualify for withdrawal. Ensure that you have fulfilled the different terms and conditions, like wagering requirements, for any bonuses used. Otherwise you will not be able to withdraw your winnings, like at any other casino.
Once you have done these and completed the withdrawal process correctly, the Bitcoins are sent to your Bitcoin wallet. The following are the steps to withdraw funds at casinos that accept Bitcoin withdrawals. The entire process is usually no-cost or minimal cost; the minimal cost is in the form of a miner’s fee. You must of course log in to your casino account first.
- Visit the banking/cashier tab and head to the Withdrawal section.
- Click the Bitcoin option to indicate that is the method you want to use to withdraw.
- Enter the amount of Bitcoins you want to withdraw.
- Click the Withdraw button.
- On the resultant screen, enter your Bitcoin wallet’s public key address.
- All you need to do is copy-paste or type the alphanumeric string that comprises the address.
- Some casinos give you the option of scanning this address as a QR code.
- You can do this using your mobile device’s camera.
- Confirm that you want to withdraw your Bitcoins.
- The Bitcoins get transferred to your Bitcoin wallet instantaneously.