Bitcoin Casinos are a New Trend in the Gambling Industry

By  //  June 17, 2021

Cryptocurrencies are the next big thing in banking and finance, so they gradually win over entire industries. This is particularly the case with online businesses like virtual casinos and gambling websites because they can utilize the advantages of digital currencies to the fullest extent. Keep reading if you are curious to learn how!

How is a bitcoin casino different from a normal online casino?

What’s the difference between traditional online casinos and bitcoin-based gambling platforms? The answer is simple – while the former accept traditional payment methods such as wire transfers and credit cards, the latter rely on crypto payments. For instance, if you visit a bitcoin casino Australia and create a new account, you will need to place a deposit through your e-wallet and pay with bitcoin. In other words, you don’t get to place a deposit by using traditional payment methods, but rather by using virtual money.

What are the deposit methods?

Bitcoin casinos come in two main types. The first one is based on cryptocurrency payments only, while the other one adds bitcoins to the existing payment portfolio. Let’s see how it works:

■ Bitcoin-only casinos: As the name suggests, this version of a gambling platform only handles bitcoins. The number of bitcoin-only casinos is still relatively small because the nature of the system reduces the market potential of the platform.

■ Multiple payment methods: There is also an online casino without wagering requirements that chooses to add cryptocurrencies to traditional payment models such as eBanking and wire transfers. It’s a more common solution because it enables everyone to join the party.

How do I withdraw my winnings?

When you finally place an online deposit, in bitcoins, you can begin playing games just like on every other online gambling website or app. And if you are lucky enough, you get to earn money gambling. This is the best-case scenario and you are free to withdraw your winnings. Once again, there are two possible outcomes:

■ Collect money in bitcoins: Some bitcoin casinos only allow players to withdraw earnings in bitcoins. These are usually crypto-only platforms that accept no other payment methods.

■ Collect money any other way: Certain online casinos allow players to withdraw their winnings in real money. Of course, we are talking about platforms that are open to other payment methods and multiple depositing options.

Bonus offers

When it comes to promo codes, perks, and bonuses, cryptocurrency casinos operate pretty much the same as every other online gambling site. They are very generous to new users as they want to expand the customer base and attract as many gamblers as possible.

If you visit the right platform, you can bump into several promo plans including free spins, deposit doubling, bonus rounds, free game extensions, and many more. And if you become a VIP member of a bitcoin casino, rest assured it will pay off through even more lucrative promo features.

The bottom line

Cryptocurrency payments represent a new trend in gambling because they lean on digital businesses quite naturally. We explained to you the pros of crypto gambling and why you should give it a try. Are you ready to give it a go?