Bitcoin is the original cryptocurrency that allows trading without going through third parties or even government taxing. Since 2011, when Bitcoin stabilised and became a more serious form of banking, some casinos started offering banking options in support of cryptocurrencies. Some online casinos have gone so far as to be an exclusive bitcoin casino, while others have included bitcoin as just one more banking method that they support.
Top Australian Bitcoin Casinos
Bitcoin gambling is one of the more recently developing trends in the casino industry. Initially, financial advisors doubted bitcoin would take off and be as successful as it has become. When bitcoin proved all the doubters wrong, and bitcoin casinos opened for trading, our experts decided to review these bitcoin online casinos and separate the good from the bad. You will find several bitcoin betting sites nowadays, and it can be difficult for new players to navigate the world of bitcoin gambling.
When you gamble online through the best bitcoin casinos, you can expect the following benefits:
- A lower house edge than traditional online casinos.
- The fastest online banking transactions.
- The ability to bank and play in complete anonymity.
- More secure online banking.
- Very low transfer fees compared to traditional forms of online banking.
- Depositing online will reward players with bitcoin casino bonuses. Be sure to look out for good welcome bonuses that payout in real bitcoins.
A Brief Introduction To Bitcoin Gambling
Many people still find themselves asking exactly what bitcoin is? How did it originate, and how has it now evolved into bitcoin casinos?
Bitcoin at its core is a virtual currency that is decentralised and not regulated by any third parties or central and federal banks. It is a currency that exists outside the framework of normal banking channels. As such people who bank with bitcoin enjoy complete anonymity and freedom from being taxed. It is estimated that there are currently more than 28.5 million bitcoin wallets worldwide.
Since its inception, bitcoin has faced a lot of scepticism, but has steadily increased in value and use, and is now considered a very viable form of virtual banking. This is representative of the fact that casinos joined the bandwagon and now offer full banking support for Australian bitcoin betting sites.
Bitcoin Casino Games
When you play at any Australian bitcoin casino, you will have access to all the same table games and slots you are accustomed to. Bitcoin betting sites have partnered with the same software providers that other online casinos have, meaning players who gamble through a bitcoin casino will have access to the same games as anywhere else.
In addition to this, no matter if you are an iOS, Android, or Windows smartphone or device user, you will be able to access the best bitcoin casinos through their mobile apps or internet browsers. Just like regular casinos, most bitcoin casinos make use of HTML5, which means you won’t need to download any additional software to play bitcoin games. All you need to do is make your first deposit. Bitcoin casino apps are available should you prefer; however, most find it easier to just play straight from your browser as it is quick and very easy.
Your online gambling experience is assured to be the same when playing on your mobile devices. The games offered are exactly the same as you would expect on your desktop computer. They look and feel the identical and have the same great gameplay you know and love.
Steps To Setting Up A Bitcoin Casino Account
There would not be so many people using bitcoin if it was in anyway difficult to set up an account. Thankfully, registering for a bitcoin account is as easy as setting up any e-wallet. Follow our easy steps, and you will be playing at a top bitcoin online casino in minutes.
- Step 1: Your first step is going to a bitcoin site such as bitcoin.org, and set up what is commonly known as a bitcoin wallet. There are many different types of bitcoin wallets, such as software, online or hardware. We encourage you to look at the various pros and cons of each to determine which suits you best. Bitcoin.org has a very good description of each, so you should have no issue selecting what suits you, and creating your wallet.
- Step 2: Once your wallet has been set up, you are free to get some bitcoins to put in it. You can acquire bitcoins from friends or family directly, or get a bank to exchange them, or visit any reputable bitcoin reseller and buy them yourself. The most popular and reliable way is through online exchanges like Mt GoX.
- Step 3: Now that you have bitcoins in your wallet, all you need to do is find a BTC Casino or an online casino that accepts bitcoins. All you need to do is deposit into your casino account by selecting bitcoin as the payment method and following the prompts. You will be playing in minutes.
Our experts advise players to familiarise themselves with bitcoin gambling safety, and how best to secure your wallet.
Frequently Asked Questions
What is Bitcoin?
Bitcoin is a digital currency that allows people to make purchases online at accepting sites. Bitcoin is not regulated or controlled by any central bank or government, which allows people to bank anonymously. People like using bitcoin as it allows you to transfer funds without going through an intermediary or bank.
How does bitcoin work?
The technical part of bitcoin is that it is “mined” by various computers across the world. These computers essentially process the day to day transactions of bitcoins as well as generating the BTCs themselves. As soon as a bitcoin is mined, it is added to the bitcoin network and is available for circulation. Bitcoin has also been specifically capped, meaning there is not an infinite number of bitcoins. The cap set is at 21 million, which apparently won’t be reached until at least 2140.
Can I use bitcoins as online casino deposits?
Absolutely. There are several bitcoin online casinos in Australia that now fully support bitcoins as a payment method. Furthermore, a host of the best online casinos have included bitcoin as one of their many supported banking options.
What is a cryptocurrency?
A cryptocurrency is a term developed specifically to describe what bitcoin is. This refers to an online currency that is not regulated by any central bank or government. Since the inception of bitcoin, many other cryptocurrencies have also been created, and are now direct competition.
How safe are bitcoin wallets?
Bitcoin wallets require login details, or in the case of hardware, would need the actual physical device the bitcoin wallet is stored on. Physical devices make hacking much more difficult, and even online bitcoin wallets are secured by the best SSL encryption software used by Australian online casinos. In short, your bitcoin wallet should be very secure as long as you follow normal safety and security procedures.
How long do deposits and withdrawals take?
Making deposits and withdrawals is where bitcoin casinos truly shine. It is expected for a bitcoin deposit or withdrawal to clear immediately when banking online. In fact, this is by far the quickest and most reliable banking method?
What are the banking fees?
As there is no middleman to go through, the banking costs for bitcoin gambling is very low. The best bitcoin casinos Australia keep transaction fees lower than traditional banking methods.