Best US Bitcoin Gambling Sites
At the time of writing, the value of bitcoin is at an ‘all time’ high. Chances are that by the time you read this, the value of the cryptocurrency would have plummeted somewhat, but for now the price is skyrocketing. Why? It is because more companies than ever are allowing people to make payment using Bitcoin. Casinos are among these companies.
What is Bitcoin?
I do not want to get into this too much because you likely already know what Bitcoin is. However, for the uninitiated, you can think of it as a ‘digital currency’. There is no central organisation that controls it.
The value is determined by the people that are using the currency, which is rather nice.
Companies now accept bitcoin because it has really taken ‘ahold’ of the market. They always want new ways in which to make some money, right?
How do you pay with Bitcoin at an online casino?
This is going to be dependent on where you are gambling. In most cases, you will not actually be giving the casino bitcoin. The bitcoin will be converted into your local currency.
Most online casinos will use a payment system which accepts bitcoin gambling. The idea is that you give the payment system your bitcoin. They will then do a bit of wizardry and send the value in your local currency to your account.
It is unlikely that you will ever get the ‘market value’ for your bitcoin, mainly because of the volatility of the currency means that it is a massive risk for the companies that accept it, but you should come pretty close.
You will be withdrawing the money in your local currency. It is unlikely that you can withdraw it in Bitcoin, although stranger things have happened!
What are the advantages and disadvantages to gambling with bitcoin?
Well, it is much the same as if you were gambling with any sort of cash, to be honest. I guess the major advantage is that it gives you a way in which you can spend your bitcoin. You won’t really be able to take advantage of the other benefits of the cryptocurrency. You must remember that while bitcoin has been designed to be anonymous, gambling can’t be anonymous due to the various pieces of legislation in place. So, for now, the major benefit is that you can gamble with your bitcoin.
The only real disadvantage is the volatility of the currency, but this is not really tied to the online casinos. You could deposit your money into your online casino account and notice that the value of the bitcoin climbs sky high, which means that you miss out on some cash. However, the same could happen on the opposite end of the spectrum. You deposit cash, the value plummets. However, as I said, this is not really the online casino’s fault.
How can you choose an online casino for Bitcoin?
Simple! You do it much the same way as you would if you were looking for any other online casino although, of course, they will need to accept bitcoin.
- We suggest that you check out a couple of our reviews to get an idea about how we review online casinos and what we look out for in them. However, these tips will also help:
- Choose a place which has an astonishing number of games. The more games there are, the better! We know that many people are after something specific, but it is always good to have a choice just in case you get bored.
- The withdrawal and deposit times need to be quick.
- It needs to be easy to get in touch with customer support if you run into any issues with the website.
- We love it when there are some decent bonuses on the website. We are not just talking about welcome bonuses here, although they are lovely. We are talking about loyalty bonuses which have been designed to keep us coming back for more.
Fancy checking out some casinos which accept Bitcoin?
Brilliant! Our team have been working incredibly hard and put together a list for some of the best online bitcoin casinos out there. We urge you to check out this list below. It saves you putting in the work yourself, plus you know that these places are going to be great!