Everyone has heard about the cryptocurrency Bitcoin in the news, but few people actually use it in their day to day lives. However, casinos are slowly adopting Bitcoin as a payment method due to its many advantages. Although it’s not widely accepted yet in the UK, we hope that many casinos will start to accept Bitcoin in the future. This cryptocurrency is experiencing a surge of interest from players and casinos alike.
Find the Best Bitcoin Casino at JohnSlots!
Although a relatively new payment method (and new currency at that), there is still a market out there that accepts Bitcoin payments. At JohnSlots, we’re working hard to find and review the best online casinos that accept Bitcoin. See below for our top picks:
In our Bitcoin payments guide, you will find:
- What is Bitcoin?
- Bitcoin Pros and Cons
- Bitcoin Deposits
- Bitcoin Withdrawals
- Best Casinos that Accept Bitcoin
- Bitcoin Alternatives
- Bitcoin FAQs
Bitcoin is a cryptocurrency, which is a digital currency that can be used to transfer funds independently of a central banking authority. It cannot be withdrawn like ‘real’ cash, such as from an ATM or your bank. Bitcoin is revolutionary because there is no third party when it comes to transactions. Instead, it relies on a peer-to-peer marketplace.
There is a blockchain carrying nodes, which have all the transaction history. Your transactions are recorded via a Bitcoin address, a string of random numbers and letters, obscuring any personal details and making transactions lightning fast. Miners verify and confirm transactions as to avoid duplications, making it legitimate and secure. Many people favour Bitcoin because there is no regulatory body, such as the government, meaning it cannot be ideologically controlled, and it is completely anonymous.
You can exchange Bitcoin with other currencies, including the Great British Pound, Euro and US Dollar. It’s important to know that Bitcoin has a very volatile conversion rate. The exchange rate determines how much each Bitcoin will cost in flat currency. This fluctuates greatly and it is known to go up or down steeply within 24 hours. For example, in 2019 the price of Bitcoin varied between £2,525 and £10,895, which is a massive difference. The conversion rate will also vary according to which payment provider you use.
It’s normal to have many questions associated with the use of Bitcoin. After all, cryptocurrency has many advantages and disadvantages. As the newest currency in the world, people are bound to question its value. But, despite certain reservations, Bitcoin will appeal to many casino players.
|PROS OF BITCOIN||CONS OF BITCOIN|
|Instant money transfers||Not universally accepted by many UK casinos|
|No central authority, keeping you anonymous||Exchange rate can be very volatile|
|Your winnings could increase in value||Still not widely accepted for eCommerce|
|Payment freedom, as it can be transferred anywhere in the world||Your currency may not be as secure due to crypto exchange hacks|
|Your payment information cannot be stolen||Cryptocurrency is still an ongoing development|
|Provably fair||Withdrawal can take a long time|
The main appeal to Bitcoin is its anonymity because there is no middleman involved in transactions. In traditional payment methods, there is a third party which authorises transactions (usually a bank). That is replaced with blockchain, which keeps track of all transactions with mining. This means you can keep all your personal payment information safe. You don’t have to worry about the casino keeping information about your personal payment details.
Bitcoin casinos tend to brand themselves as provably fair. This means that players get to verify each bet and wager they place, ensuring that the games are fair. For example, each time you spin an online slot, you will receive a random hash certifying that neither you nor the casino has any control over the outcome.
Another advantage is that Bitcoin has one of the fastest money transfers in the world due to the nature of how it works. It beats bank transfers by a long-shot. However, it’s worth noting that withdrawals from online casinos can take longer because they are processed manually. You’re also not tied to a bank if you want to transfer money across the world. These days we live in a globalised world where we have friends and family all over the world and conduct business across the globe. Cryptocurrency gets rid of the barrier of currency exchange and guarantees payment freedom.
Bitcoin is still very volatile to this day which means there is a degree of risk. The value of your currency can rapidly shoot up or down within days. Potentially, you could increase your winnings but, unfortunately, it can go either way. Cryptocurrency is still an ongoing development so it’s unlikely it will stabilise anytime soon. You also have to be careful about cybersecurity as hacking is not too uncommon. It’s usually safer to store your currency in a software wallet rather than a cloud wallet to help avoid this.
Bitcoin is still relatively new, and for that reason, it’s not universally accepted. Only a small minority of casinos accept Bitcoin, but it is something that is expanding. In fact, there are a few casinos that are solely dedicated to cryptocurrency – they accept no other payment method. You’ll also have to consider that although you may be able to transfer cryptocurrency to your casino, the rest of eCommerce is still coming around to accepting Bitcoin. This means there are still limited options when it comes to spending your Bitcoin.
How about other cryptocurrencies?
In the UK, online casinos usually only accept Bitcoin as a cryptocurrency even though there are many other options available. However, other crypto casinos accept a range of cryptocurrencies, including Litecoin and Ethereum. However, these are less popular than Bitcoin, so you’ll find them few and far between. It’s unlikely that UK casinos will start to accept other cryptocurrencies for the time being, but it’s something we hope will change quickly. Bitcoin is just one cryptocurrency making waves. In the wake of its huge success, a number of Alt Coin currencies have emerged, though so far, none have been accepted as a payment method at online casinos.
To start using Bitcoin, of course, you’ll first need to have your very own Bitcoin currency. You can purchase this directly or start mining your Bitcoin. You’ll need to have a wallet to store your Bitcoin. Make sure you use a safe and secure one to avoid any security threats. That way, your money will remain safe in your hands.
There are two ways you can play with Bitcoin at an online casino. Some casinos allow you to deposit directly with Bitcoin, as it is integrated specifically in their system. Input your Bitcoin address (make sure it is copied exactly and completely) and choose how much you would like to deposit. Once the transfer is complete, you may start to play with real money. Other casinos will only accept third party payment providers. There are many of these which include Coinspaid, BitPay, GoCoin and Cubits.
Here are two options for making Bitcoin deposits at an online casino:
- Specialised crypto casinos accept Bitcoin in their current form, and you can deposit and withdraw with the Bitcoin currency. You play online slots and table games with your Bitcoin currency.
- Regular UK online casinos accept Bitcoin transactions, but these will be converted to your local currency via Skrill. In the UK, most online casinos only accept Bitcoin via Skrill, so you’ll still be playing with your local currency and not Bitcoin. As Bitcoin fluctuates every day, this may be a risk.
Bitcoins and Bonuses
In the UK, you are restricted about what first deposit method you can use if you want to sign-up for the welcome offer. To be eligible for welcome bonuses at most UK online casinos, you will have to deposit via debit card, bank transfer or PayPal. As most UK casinos only accept Bitcoin via Skrill, this would mean you cannot claim the welcome offer.
Usually, you will have to register to a crypto casino to make use of great bonus offers with Bitcoin. Due to the nature of how cryptocurrency works, most regular casinos will not accept Bitcoin as an eligible deposit method for bonuses. However, they may have specific Bitcoin bonus offers instead.
To claim your bonus:
1. Sign up to your online casino,
2. Pick which bonus offer you would like to claim,
3. Deposit via the link or enter the bonus code,
4. Click on Bitcoin as your payment method,
5. Confirm the payment on your Bitcoin wallet by scanning the QR code,
6. You’ll be redirected to your casino to play with your bonus.
Fees when using Bitcoin for deposits
Bitcoin will never charge you to transfer funds as there is no third party authorising these transactions. However, some casinos may charge a small fee for the use of Bitcoin. You’ll be able to find this information in the terms and conditions before you deposit.
Minimum deposits with Bitcoin
As with most deposit methods, many casinos will have a minimum deposit limit. As Bitcoin is a different currency altogether this, of course, will look different. The minimum deposit limit can range anywhere from 0.001BTC to 0.025BTC and beyond. At regular casinos, these will be shown in your local currency. You’ll be able to check the limits of your casino on the payments page or by going through the terms and conditions. However, the quickest way to check is by contacting 24/7 customer support live chat if this is available.
How fast are Bitcoin deposits?
Cryptocurrency, especially Bitcoin, is one of the fastest money transfer systems on the Internet. As Bitcoin eliminates any central authority, the time to wait for your transaction to be authorised is drastically reduced. In most cases, confirmation by the blockchain technology that underpins the currency will be complete in less than an hour.
Bitcoin via Skrill
In the UK, the majority of online casinos accepting Bitcoin only do so via Skrill at the moment. This means you will also need to set up Skrill and deposit Bitcoin into your Skrill account. Skrill has a dedicated Bitcoin/Bitcoin Cash service which allows you to deposit Bitcoin from your crypto wallet into your Skrill account. You’ll then be able to use your Bitcoin to play on your online casino.
When depositing to these casinos using Skrill, your Bitcoin will get converted to your local currency instead. You won’t necessarily be playing with Bitcoin.
If you need any further assistance regarding Bitcoin payments, or if anything has gone wrong during your deposit process, contact customer support straight away. They’ll be able to offer the right assistance for your situation and help you to solve it quickly.
Unless you’re playing on a specific crypto casino, casinos for the most part do not accept withdrawals via Bitcoin. You will receive your winnings back into your normal bank account in your local currency.
Withdrawal alternatives for when you deposit via Bitcoin
There are many withdrawal alternatives you can choose to retrieve your winnings. If you’re depositing via Skrill, most players prefer to accept their withdrawal using that same payment method, knowing it’ll be in their local currency instead. Others may prefer to withdraw their wins straight into their bank account via debit card or bank transfer.
Bitcoin is still very new but we’re working hard to find the best online casinos that accept Bitcoin for you. We’re always searching for the top gambling sites that offer a great selection of online slots and brilliant bonus offers. Check back regularly as we’re constantly adding new casinos!
If you’ve decided you want to play at a Bitcoin casino, there are few things you should always consider before you register:
- Make sure the payment options are convenient for you.
- Find a casino with the best welcome offer, such as a no deposit bonus or free spins.
- Check the wagering requirements before you sign-up for a promotion. The lower the wagering requirements are, the better.
- It’s better if your casino offers 24/7 customer support in case you ever run into trouble.
Players in the UK will need to wait a while before Bitcoin becomes universally acceptable. If you’re a Bitcoin investor already, it makes sense that you would want to play at an online casino with Bitcoin. However, players new to Bitcoin who are just looking to play some online slots may be better off using one of the more conventional payment methods, such as Visa, Mastercard, Trustly or Neteller.
It’s very common to have many questions regarding Bitcoin, especially when it comes to how it works on an online casino. We’ve created this guide to help answer these questions.
What is a Bitcoin casino?
A Bitcoin casino is an online casino that accepts Bitcoin as a currency. A few crypto casinos accept a wide variety of cryptocurrencies and allow you to play online slots and table games with your preferred currency. A small number of regular casinos are starting to catch up by offering Bitcoin as a payment option. However, your Bitcoin will be converted into your local currency to play.
How do Bitcoin casinos work?
There are two types of Bitcoin casinos. The vast majority of regular online casinos that accept Bitcoin as a payment method will require you to bet and play in your local currency and they do not allow Bitcoin withdrawals. On the flip side, a small number of crypto casinos offer their services entirely in cryptocurrency. These crypto casinos are becoming more popular. However, these are currently not licensed under the UK Gambling Commission.
Is it safe to use Bitcoin at an online casino?
Bitcoin is a safe and secure currency to use. You shouldn’t have any trouble using Bitcoin at a licensed online casino. Always check that you are playing at a licensed online casino before joining any casino that accepts Bitcoin.
How do I find Bitcoin casinos?
The best place to find Bitcoin casinos is at JohnSlots. Check out our list of top Bitcoin casinos. We are constantly searching for new online casinos that accept Bitcoin. We will be updating this page regularly, so bookmark it and check back soon!
Can I get bonuses from Bitcoin casinos?
Yes, you can certainly claim bonuses even if you’re using Bitcoin. However, because you’ll be using a different currency, the nature of the bonus will differ. You may find that they won’t be exactly the same as regular bonuses. If you deposit with Bitcoin via Skrill, you may not be eligible for a bonus. Always check the T&Cs of casino bonus offers.
Why don’t all UK casinos accept Bitcoin?
Bitcoin is still a relatively new currency even in the finance world, which is why not all UK casinos are accepting Bitcoin yet. It’s probably going to take a while before Bitcoin is universally accepted.
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