Are you thinking about using Bitcoin to make deposits and withdrawals at your online casino? If so, you are one of the many Aussie players who are increasingly getting interested in using Bitcoin as a casino payment method.
Using Bitcoin has plenty of advantages. Having used it myself, I can confidently tell you that it is not only safe and secure but also easy to use. Plus, it supports deposits and withdrawals.
Here are a few points that give you an idea of how Bitcoin works:
Let me now show you how to use Bitcoin to make an online casino deposit:
Download a Bitcoin Wallet
You need a first create a bitcoin wallet. A bitcoin wallet is a software program that allows you to store, send, and receive bitcoins.
Obtain Bitcoins
Here is a list of ways I use to get hold of bitcoins:
Make a Deposit
Here is a simple guide to making a Bitcoin deposit:
Now that you have won plenty of prizes in bitcoins, it is time to request a payout. Let me show you how to withdraw your winnings with Bitcoin:
Don't worry about the fees. Bitcoin online casinos do not charge fees. However, you may opt to pay a fee if you want your winnings to reach your wallet very fast. If you don't mind waiting for a few hours, using Bitcoin for withdrawals is free of charge.
I am careful about signing up at Bitcoin-only online casinos mainly because Bitcoin is not under the control of any government, especially not the Australian government. Some Bitcoin-only online casinos, therefore, do not feel the need to obtain a license. Avoid such unlicensed online casinos.
As far as possible, I stick to online casinos that offer Bitcoin along with many other traditional payment methods and cryptocurrencies. But I research them thoroughly before signing up.
I have compiled the following tips to help you choose a good Bitcoin online casino:
Licensing |
Licensed online casinos display logos and links of the regulatory body that has licensed them. Avoid online casinos that are silent about their licenses. |
Ownership |
You can trust the online casino if the parent company is well-known, reputed, and experienced. |
Software |
Software is the soul of an online casino. Find out something about the online casino’s software providers. I recommend playing at online casinos that offer hundreds of games from multiple providers. |
Mobile |
If you cannot access the online casino on your smartphone or tablet, avoid it. |
Bonuses and Promotions |
Avoid online casinos that offer large bonuses with unreasonable or hard-to-understand terms. |
Rewards for Loyalty |
Do they offer points for real money play? Is there is a multi-level reward program with great incentives to play? |
Customer Support |
Test customer support before signing up. Sign up only if they are prompt, courteous, and helpful. |
Responsible Gambling |
Do they offer player protection tools such as setting deposit limits and self-exclusion? Have they partnered with non-profit organizations such as Gamblers Anonymous and GamCare to help problem gamblers? |
Fair Gaming |
This one is very important. Check for provably fair games. Find out if the online casino has partnered with any independent auditor to regularly test and certify its games and software for fairness. |
Although Bitcoin is the best casino payment method for Aussie players, it is not flawless. Playing with Bitcoin has pros as well as cons, as follows.
Pros |
Cons |
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Many top-rated online casinos support multiple fiat currencies and cryptocurrencies, giving you a wide range of coins and currencies.
The following table gives you a list of coins and currencies you may find at Australian online casinos:
Traditional or Fiat Currencies |
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Cryptocurrencies or Coins |
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If you are new to cryptocurrencies, you may want to know something about each cryptocurrency. I have created the following table to introduce you to each of the above-mentioned cryptocurrencies.
Bitcoin |
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Litecoin |
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Dogecoin |
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Bitcoin Cash |
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Ethereum |
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Tether |
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Bitcoin online casinos offer the same games as traditional online casinos do. Visit the library of any online casino that supports cryptocurrencies and you will find the following game categories:
The libraries of some cryptocurrency online casinos also offer a separate category for BTC games. You can wager bitcoins on these games and win jackpots in bitcoins.
You will find that many casino games at Bitcoin online casinos are certified as provably fair games. This means that you can personally test the games for fairness and randomness, which makes the online gambling environment at BTC online casinos truly fair and transparent.
Are you still not comfortable with Bitcoin? I suggest selecting Bitcoin as your preferred payment method because it supports both deposits and withdrawals.
Still, if you are not happy about using Bitcoin, you can check out the following alternative payment methods:
Credit/debit Cards: Use credit/debit cards to make deposits safely, securely, and instantly. However, you may find it difficult to withdraw your winnings to your credit card. Moreover, some banks decline gambling-related transactions, forcing you to look for an alternative.
POLi: POLi is the local Australian and Kiwi payment solution, which allows you to directly transfer funds from your bank account to your gaming account. This makes POLi a great deposit method although you cannot use it for withdrawals.
Neosurf: Would you like to control your casino spending? If you are not a high roller who likes to deposit and wager huge amounts of money at online casinos, you may like to use Neosurf.
Neosurf is a prepaid voucher with a ten-digit pin code that you can use to make payments online. But it does not support withdrawals.
Bank Transfer: Most Australian online casinos offer Bank Transfer only as a withdrawal method. If you deposit with a method that does not support payouts, you can withdraw your winnings through Bank Transfer. This method, although reliable, is expensive and slow.
While I support the use of cryptocurrencies in general and Bitcoin in particular at online casinos, I would like to make the following points clear.
Consider these as my closing thoughts on cryptocurrency gambling:
The speed of Bitcoin deposits and withdrawals depends on the fee you choose to pay. The system doesn't force you to pay fees. However, transactions are slower for players who choose to pay a low fee or zero fees. Still, Bitcoin transactions are faster than traditional payment methods as banks are not involved. You don't have to wait for any bank or financial institution to process your transaction. If your online casino doesn't keep your Bitcoin payout request pending till it verifies your account details, Bitcoin deposits and withdrawals are instantaneous. It means that you can use Bitcoin without revealing your bank account or credit/debit card details to your online casino. You don't have to register an account with Bitcoin. Linking your Bitcoin wallet with your bank account or credit/debit card is unnecessary. Depending on your online casino's terms & conditions or policies, you may have to reveal certain personal details while registering a gaming account. You may also have to verify your account details by submitting copies of identification documents at the time of your first payout. But you still don't have to tell the online casino your bank or credit card details. That's what makes Bitcoin anonymous. As you know, online gambling is illegal in Australia although the law doesn't prevent residents from signing up at offshore online casinos. The Australian Media and Communications Authority (ACMA) has blocked hundreds of offshore online casinos. Many payment providers, game providers, and online casino operators have withdrawn from the Australian market. Still, many online casinos continue to accept Australian players. Owing to the legal situation, the choice of payment options is narrow for Aussies. Australian online casinos widely offer Bitcoin because no bank, government, or financial institution controls it. And the best thing about Bitcoin is that it supports both deposits and withdrawals. I assure you that Bitcoin is a safe and secure way to make deposits and withdrawals at online casinos. And I give you three reasons for my answer: 1. Bitcoin is an encrypted system operating on the blockchain technology. The system requires several volunteers. The combined effort of these volunteers ensures that Bitcoin transactions are encrypted. So nobody can hack the system. 2. Bitcoin is decentralized. It has servers all over the globe. It comprises thousands of nodes that track each transaction on the system. Detecting changes and preventing unauthorized access to any node or server is, therefore, very easy. 3. Bitcoin is public. Details of all transactions on the system are transparent and easily accessible although the people making the transactions are anonymous. Fraud is impossible as thousands of people are watching your transactions even as you remain unknown. It depends on the casino you have signed up at. If you have signed up at a Bitcoin-only online casino, the only payment method available is Bitcoin. On the other hand, many online casinos that accept Bitcoin also allow you to make deposits with Bank Transfer, POLi, Neosurf, and credit/debit cards. They may also offer other cryptocurrencies such as Bitcoin Cash, Ethereum, Dogecoin, and Litecoin.Are Bitcoin deposits and withdrawals instant at online casinos?
Bitcoin transactions are anonymous. What exactly does this mean?
What makes Bitcoin the best casino payment method for Australians?
Is it safe to use Bitcoin at online casinos?
What other payment methods do Bitcoin online casinos in Australia offer?