Cryptocurrencies, also known as digital currencies, group together all payment methods issued peer-to-peer without needing a central bank or a payment institution. Transactions between the owners of electronic currencies do not require intermediaries..
There are thousands of cryptocurrencies, most of which have a low unit value. However, some are much more well-known and valued, such as Ethereum, Bitcoin Cash, Litecoin, Solana, Avalanche, Luna, and of course, the queen of them all: Bitcoin. And today we’ll talk about top online casino sites that accept bitcoin deposits.
Cryptos are also characterized by still very high volatility. Their prices rise or fall sharply within a few days. This is the main parameter explaining the reluctance of some people to use them nowadays. Many merchants (mainly on the internet) offer them as one of their means of payment, and online casinos are increasingly inclined to set it up for their players for their qualities of the speed of transfers and discretion. In this game, bitcoin is the one that stands out widely.
Using cryptocurrencies as a payment means online casino players deposit but also withdraw winnings. With cryptos, winnings are withdrawn quickly since they are not subject to banking deadlines. Once the online casino validates a payment, it is available a few minutes later. The speed of transfer and discretion are the two main advantages that justify using cryptocurrencies in online casinos.
History of Bitcoin
Bitcoin is an electronic currency invented in 2009 by Satoshi Nakamoto, a nickname its creator still unknown to the general public. Bitcoin is not only one cryptocurrency among many others; it is the most important. It represents about 55% (as of July 2022) of the total cryptocurrency market and is the driver of the entire sector: when its price drops, the rest follows, and vice versa.
Bitcoin online casinos
Online casino players often ask themselves: is it possible to deposit and withdraw winnings with bitcoin? This option is increasingly possible for players. Bitcoin indeed allows an almost unparalleled speed of transfers (except with electronic wallets such as Neteller or Skrill).
Those who use bitcoin to deposit and withdraw at online casinos find it challenging to return to banking. With bitcoin, withdrawals of winnings are usually made within a few hours, and it is enough for the casino to approve the payment for it to be executed and arrive in a few seconds/minutes. Many of the casinos using bitcoin validate the winnings quickly. So you don’t have to wait up to 48 hours for the win to be validated, adding a few more days for the win to reach the bank account with difficulty. Everything is done very quickly.
Another advantage of bitcoin: is its anonymity. Are you tired of your bank having an eye on your gaming expenses? Bitcoin is the perfect alternative because only you manage your transactions. So you can deposit, play and withdraw without anyone but you know.