Several online casinos now accepting deposit by Bitcoin

Have you heard about Bitcoin Chances are you probably have and are intrigued! As you should be, this new form of currency is an exciting way to send and receive money. Most specifically, players can now use Bitcoin to make their deposits and withdrawals at several online casinos. There are many different perks to making deposits this way, below is a look at the different reasons why a player might choose Bitcoin over some of the popular credit card or bank wire options commonly available.

Bitcoin can be anonymous When making a payment via a debit card, credit card or any other method for that matter, players will have their information tracked in a log by their financial institution. Along with this, you would need to submit your personal banking information online, which can sometimes fall victim to identity theft. With Bitcoin, there are no logs kept and players won’t have to worry that their funds or winnings could be confiscated by the government should the laws change surrounding online gambling from your region.

Bitcoin is processed instantly Players have the ability to sign up and make their deposit, within just minutes they will be on their way to playing games once their deposit has been verified. The process is quite simple, players can visit the Bitcoin website to see the three easy steps that it takes to make purchases using the service. When it comes to making withdrawals, players will have a waiting period for the casino to approve their winnings but it is nowhere near the period of time that it takes for a bank to process the incoming payments. In some cases, choosing a different withdrawal method could leave the player waiting more than 30 days for their payment. When using Bitcoin, as soon as the withdrawal is approved by the casino manager, your funds will be back within your possession within minuets.

Bitcoin does not charge exuberant fees Have you noticed that sometimes when processing a transaction, you are hit with a fee from the casino for processing the payment, and another from your banking institution for accepting it Well with Bitcoin, you can receive your winnings with no fees or very low transaction (in the amount of cents not dollars) fees. Meanwhile the fees associated with receiving funds via a credit card or bank wire seem random amounts of money that are set by the banks, and can be low to high almost always end up on the higher end cutting into the player’s winnings tremendously.

No more weekly limits Hit a jackpot If you choose Bitcoin as your withdrawal method, you won’t have the same cap on how much you can be paid in a single transaction. Normally due to payment processing restrictions, many casinos would only send out installments of $5,000 weekly or monthly! Bitcoin raises these limits considerably higher, allowing players to receive all of their winnings at once.

Above all, Bitcoin casinos are becoming more popular as the cryptocurrency makes its way into the virtual wallets of the mainstream consumor, and businesses are paying attention. As of July 2016 Bitcoin has a market cap of over ten billion dollars and is accepted by major companies such as Overstock, Microsoft, Dell.com and thousands of other innovative businesses including some of the top online casinos in the industry.