Cryptocurrencies are receiving a wide global acceptance and even gambling sites accept payments made with them. There are some benefits and downsides of using Bitcoin so it's up to you to decide if you want to start paying with cryptos or not. Here you can learn all about casino sites that accept Bitcoin as a method of payment.
Cryptos as a transaction method
The list of companies that are accepting cryptos as a payment method has been getting longer and longer. With the rising popularity of cryptos, there is no surprise that even gambling sites have started to use them as a transaction option. To everyone's surprise, there are a lot of casinos that accept digital currencies.
- Cryptos that are accepted by casinos
- Bitcoin Cash
- PAX Gold
Bitcoin is the most widely accepted cryptocurrency as it is the most well-known and successful digital currency. But other currencies are accepted too, like Bitcoin Cash, Ethereum, PAX Gold, Tether, USDC, DAI, Litecoin, PAX, Chainlink, Dogecoin, and DASH. Most casinos that use cryptos usually accept only the 4 or 5 most used cryptocurrencies.
Why use cryptos?
Compared to other transaction methods, Bitcoin and other cryptos have many advantages for online casino players. If you make a deposit or withdrawal using Bitcoin, your identity will be anonymous, as your transaction will have no direct connection to your personal bank account. Another advantage of cryptos is that they do not incur banking fees too.
Furthermore, players can get access to extra bonuses and promotions if they use cryptos. Some casinos will reward you if you make a transaction using Bitcoin or other digital currencies. For example, Cloudbet Casino offers a great crypto welcome bonus consisting of a 100% match deposit of up to 5 Bitcoins, Ethereums, etc.
Casinos that accept Bitcoin
Even the entertainment industry has started to accept this digital currency. There are also casinos that function solely on digital currencies and have no other payment method supported. Some casinos that accept Bitcoin as a direct payment are Casinoin, BitStarz Casino, KingBilly Casino, 1xSlots Casino, Megapri Casino, Betmaster Casino, 7Bit Casino, CloudBet, mBit casino, Red Dog casino, etc.
- BitStarz Casino
- KingBilly Casino
- 1xSlots Casino
- Megapri Casino
- Betmaster Casino
- 7Bit Casino
- mBit casino
- Red Dog casino
Also, many other gambling sites accept Bitcoin not as a direct payment but through other payment methods. Some casinos allow players to deposit and withdraw money using specific e-wallets that allow users to deposit bitcoin. It might not be the same thing, but if you want so badly to use Bitcoin at your favourite casino, this may help.
Downsides of using Bitcoin as a transaction method
Bitcoin may have low transaction fees, it is usually not taxed and keeps your transactions highly private, but it still has its flaws that you should be aware of. The most dangerous thing about cryptocurrencies is that their prices go up and down daily, so you never know the possible value a Bitcoin will have after a week.
When using digital currencies, keep in mind that their high volatility is a potential for large losses. Also, the leaders of the gambling industry usually don't use them. There are plenty of small and medium casinos that accept Bitcoin, but when it comes to industry giants, they are hesitant about using them.
- Cons of using Bitcoin as a transaction method
- Cryptos are volatile
- The most well-known casinos don't accept them
Conclusion - Casinos that accept Bitcoin
As you saw, using Bitcoin and other digital currencies has its perks and its drawbacks. There is a high chance that your most favourite casino doesn't accept cryptos, but the good news is that there are plenty of gambling sites that do. Using Bitcoin provides you with low fees and taxes and complete anonymity.
But the high volatility of cryptos may also mean great losses for your wallet. It's up to you to decide if you want to take the risk and still make a Bitcoin deposit. At the end of the day, the most exciting part of gambling is that you never know what could happen next.