Find out more about Bitcoin gambling and check our list of no deposit Bitcoin casino bonuses and the best UK casinos accepting Bitcoins!
These days, more and more UK casinos are inviting players to use Bitcoins in order to place bets and play games. So what is Bitcoin and how safe is it to use in online casinos?
Let’s find out more about Bitcoin gambling and making a Bitcoin casino deposit. Not lastly, we invite you to check all the new Bitcoin casino bonuses and the best Bitcoin online casino promotions we have on offer.
In this UK Bitcoin casino guide we will:
- Tell you what is Bitcoin;
- Talk about its evolution over the years;
- Tell you how to get Bitcoins and how to make a Bitcoin casino deposit;
- Give you a list of some of the best Bitcoin online casinos taking UK players.
What is Bitcoin?
Bitcoin is a currency created in 2009 by a man who assumed the name Satoshi Nakamoto and is the most valuable and famous of the cryptocurrency family. Bitcoins can be used to purchase goods, pay for services and play casino games online. With no middlemen and regulations, Bitcoin initially became popular as a means of payment for those who wished to stay anonymous and has enjoyed massive publicity as of late due to its potentially lucrative worth in trading it.
In 2017, Bitcoin’s value skyrocketed, taking it to an eye-watering $19,783.21 in December 2017. With an increased interest in this mercurial cryptocurrency, more and more investors have been speculating on just how far it can go. With modern advancements still trying to catch up with Bitcoin’s explosion, and frequent calls for the cryptocurrency to be regulated and monitored just like traditional currencies, there is still uncertainty as to what role it will play in our future.
As governments across the planet discuss measures to bring Bitcoin in line with stricter measures and taxation procedures, it may not be long before it goes completely mainstream and is adopted by society. For now, many enjoy the freedom and flexibility owning the alternative currency brings them.
Bitcoins price evolution
To say the rise of Bitcoin has been unique would be an understatement of epic proportions. Since the inception of the alt-currency in 2009, the price of a coin has risen spectacularly. In October 2009, New Liberty Standard published what was to be the first exchange rate following their launch of a service to trade Bitcoin. The opening exchange rate was 1,309.03 BTC to a US Dollar. This works out at eight-hundredths of a US cent to a Bitcoin, which makes today’s figures simply jaw-dropping.
The following year, Bitcoin version 0.3 was covered on Slashdot.org, and this exposure raises more interest, raising the price from circa $0.008 to $0.08 in five days. Four years later and the price of a Bitcoin is now at $662.67 as of March 2014. Following hacks and speculation which lowered the price to just over $200 in 2015, Bitcoin hits $1,000 for the first time in 2017 and eventually goes on to hit its highest ever price of $19,498.63, stopping short of $20,000.
Bitcoin fell dramatically not long after. With such volatility and its unpredictable nature, it is anyone’s guess as to how it will progress or digress in the immediate future.
Do online casinos accept Bitcoins?
Those who wish to play online casino games with Bitcoins will be happy to learn that there are many UK casinos happy to take Bitcoins. More than that, there are plenty of Bitcoin casino bonuses on offer, including Bitcoin casino no deposit bonuses. Regardless to where you are in the world, the chances are that, if gambling is legal in your country and does not carry regulations which forbid the use of Bitcoins, you will find a Bitcoin online casino to play. As the world’s foremost peer-to-peer digital currency, more and more Bitcoin casinos are being launched.
In fact, many online casinos are beginning to offer the means to deposit or withdraw from and into your account in Bitcoins as a standard. Better yet, there are casinos which are designed for and cater explicitly to players who want to play with Bitcoin only. Many of the games offered in these casinos, are unique and Bitcoin-themed and sit next to the traditional 3-reel, 5-reel, and video slots, roulette games, blackjack, poker, baccarat and everything else you would expect to find anywhere else.
There are advantages to using Bitcoin for many novices and seasoned casino players, and as such, it is certainly growing in popularity.
How to Choose the Best Bitcoin casinos
Bitcoin is no longer a novelty. You can use Bitcoin all over the place. And it’s been joined by a load of other cryptocurrencies too. Most of what we say here about Bitcoin can be applied to those currencies too.
More and more casino sites in the UK now accept Bitcoin. Bitcoin is a decentralised, digital-only currency.
The first thing you need to know about Bitcoin is that it is more volatile than (most) standard currencies. Bitcoin can have sudden changes in value and this might affect the value of your Bitcoin holdings so be sure that it’s the right way for you to store value.
The first rule of Bitcoin Gambling Club is Talk about Safety
Safety first is our motto. Never use a site that doesn’t have up-to-date UK Gambling Commission licensing that you can check via a link on the site’s front page.
We would recommend being particularly careful around safety with cryptocurrencies. If sites offer a range of payment options that’s good. If they ONLY allow you to use Bitcoin we would suggest you look very carefully at the site’s safety and reputation before signing up.
Bitcoins just wanna have fun
Once you’re happy that the Bitcoin online casino site is safe you want to check out whether you’re going to enjoy spending time there.
You want to see a good set of games that you enjoy from quality providers. Ideally, the site will have a live casino site too.
Good quality Bitcoin casinos will let you look around before you sign up.
The Financial details
Most of the things that you look for in a Bitcoin casino will be exactly the same as the virtues of any other casino site.
The main differences will be in the payments section. Check that out via the FAQ section.
What you want to know is if Bitcoin deposits are eligible to qualify for any offers that you want to claim.
You also want to check how fast your deposits in Bitcoin will be credited to your account. And you also want to know whether you can withdraw to your Bitcoin account and how quickly these withdrawals will be credited to you.
Bitcoin and anonymity
Some Bitcoin gambling guides make a point about the anonymity of Bitcoin. It is true that Bitcoin can be traded and moved around without leaving personal traces; that’s one of the reasons Bitcoin genuinely is liked by criminals and money-launderers.
However, a good, legal Bitcoin online casino will require that you prove your identity with proper identity documents in order to withdraw cash. And trying to hide gambling transactions is often a sign that you are having problems with your gambling behaviour, so whatever currency you use to make sure you’re not behaving in a way you feel you can’t tell other people about.
How to get Bitcoins & how to make a Bitcoin casino deposit
There are many ways you can obtain Bitcoins, with the most common method generally using a Bitcoin Exchange. Bitcoin exchanges are outlets which help you purchase Bitcoin by using traditional means such as bank accounts and credit cards. Exchanges are operated regionally, from Europe, USA, Canada, China, Australia etc. There are no agreed principals between these exchanges, as many are not linked beyond the purpose of exchanging Bitcoin.
Alternatively, you are free to accept Bitcoin as a means of payment or use a Bitcoin ATM, which works similar to regular ATMs, only that their purpose is to provide you with a means to deposit and withdraw money to buy BTC. There are many communities and platforms which you can also use to obtain Bitcoins and these are readily available and easy to find online.
Here are the steps to make a Bitcoin casino deposit:
- You will need a Bitcoin Wallet in order to keep your currency safe, and there are many you can choose from.
- Once you have your wallet, you can deposit to a Bitcoin online casino by depositing via a general payment method like a debit card or bank transfer.
- Once you are ready to deposit, you can select the option to add funds to your balance via Bitcoin.
- After you have deposited, you will notice that your balance is (generally) immediately updated.
It is also likely that Bitcoin online casino withdrawals are processed instantly, but do check to ensure that the casino you are playing with has this option.
Is Bitcoin gambling safe?
Asking if bitcoin gambling is safe is similar to asking if online gambling is safe at all. As with any online transactions or gaming, there are always ways you can ensure that you are protecting yourself. If you wouldn’t play or gamble online with your credit or debit card, there is no reason to do so with Bitcoin. Check the online casino or site’s security procedure and Google their name in order to paint a picture via reviews. If things look legitimate and there is nothing glaringly strange, then your mind should be put at ease.
Another thing to consider is how long you leave your funds on the site. When you have amassed your winnings and are done with playing, withdraw your balance to your wallet. Most Bitcoin online casinos will allow you to withdraw instantly, so ensure you read the terms and conditions in full relating to banking, especially if you claim a Bitcoin casino bonus when you sign up.