Best Bitcoin Casinos 2021
There are more Bitcoin casinos every day – which ones are recommended? What to look for when paying with Bitcoin, are there Bitcoin casino bonus offers? We have analyzed the best casinos with Bitcoin and tested them for security and quality. We have the best Bitcoin casinos and our experiences for you here!
What are Bitcoins?
What are Bitcoins? Quite simply:
- It is an online currency
- Another word for Bitcoins is cryptocurrency
- “Bit” refers to the smallest units of memory in a computer
- “Coin” is the English word for coin
- Bitcoins can be exchanged for other currencies
- Bitcoins are traded decentralized – that means without the intermediation of banks
- Bitcoin wallets can be used to pay with the cryptocurrency
- A Bitcoin is a so-called cryptocurrency.
In order to use this cryptocurrency for payment transactions, two things are crucial: the customer must have a so-called Bitcoin client, as this system works via a peer-to-peer network.
On the computer, one has a kind of wallet. This wallet makes trading with Bitcoins possible. Bitcoins, or BTC, can be exchanged for other currencies. For this to work, the counterparty must also be able to offer BTC. Since it is a decentralized currency system, no banks are involved in the trade. This means that the online currency is not affected by the exchange rate fluctuations of other currencies.
BTC Casino – how does it work?
The payment process itself is not much different from that with other currencies. As a rule, most online casinos rely on traditional payment methods such as digital wallets, credit cards or several forms of bank transfer.
Once the player has found a casino that offers bitcoin payments, the next steps are very simple. What these look like is shown below:
- Step-by-step guide: paying with Bitcoins in online casinos.
- Open the customer account and click on the payment section
- Select Bitcoins as payment method
- Request transaction
- Specify individual Bitcoin address
If you follow these steps, you can easily deposit online with the cryptocurrency. With other cryptocurrencies, the destination address to which you should transfer the coins is usually simply displayed. A few minutes later, these are then also in the account. BTC casinos really stand out here with simplicity.
What are the advantages and disadvantages of Bitcoins?
Bitcoins have advantages, but of course also disadvantages. The advantages are that it is a currency that is independent of the economic development of other currencies. Should the euro, dollar and co lose value, the Bitcoin remains unaffected.
In addition, dealing with Bitcoins is very simple. All the user needs is the appropriate software on the computer and a counterparty that accepts Bitcoins. Another advantage of Bitcoins is the relatively low fees that the user has to pay here.
For those who are concerned about the legality: Bitcoins are a legal online currency with which the user can pay without banks intervening.
Of course, where there are advantages, there are also some disadvantages. One point has already been mentioned here: acceptance. Bitcoins are still in their infancy, so to speak, so there are not yet too many merchants or online casinos that accept Bitcoins as a valid payment option. Thus, advocates of this currency are sometimes forced to go in search of suitable merchants.
Nevertheless, there is a positive trend here. However, one is still far from being able to call Bitcoins a widespread payment method. Another disadvantage is the sometimes fluctuating exchange rate. Bitcoins can gain or lose value within a short period of time. Although there are also price fluctuations with other currencies, they are not that significant in most cases.
The issue of security could be a disadvantage, but it is not due to the Bitcoins as such. The Bitcoins are stored in a digital wallet. Therefore, the user should make sure that his computer is free of viruses or fraudulent phishing software, otherwise the valuable coins can be stolen. It is therefore advisable to increase the security of the system.
The advantages of bitcoins:
- Without intermediation of banks
- Independent of exchange rate developments of other currencies
- Low fees
The disadvantages of Bitcoins:
- No area-wide offer
- Sometimes strong exchange rate fluctuations
- High requirement on the security of the own computer