WHAT IS A BITCOIN CASINO?
As the term suggests, a Bitcoin casino is an online or mobile casino that supports payments with Bitcoin. Being a relatively new concept, many casinos have taken a while to support Bitcoin as there have been fears about security coupled with the anonymity aspect.
There are 2 major kinds of Bitcoin casinos i.e. casinos that support all the regular currencies including Bitcoin and casinos that support ONLY Bitcoin payments but both are like any other online or mobile casino in terms of the look and feel; software; game range and bonuses. However, the support for bitcoins for transactions is the only noteworthy difference.
Bitcoin casinos are a little different in terms of content and the way they play:
- The game range includes usually a few special games that you do not see at regular online casinos.
- All games are provably fair.
- There are special bonuses available to players as well.
- There are no fees for players when they transact at the casino.
- Transactions happen instantly; this includes payments as well as deposits.
- There is no hard and fast requirement for licensing.
- Players get to play in complete anonymity.
Not sure how Bitcoin works? Click to learn more about Bitcoin
BONUSES AT BITCOIN CASINOS
Bitcoin casinos – whether they accept only bitcoins or other currencies as well – offer a range of bonuses. There are special bonuses available to players opting to make payments in bitcoins. The standard bonuses you get at bitcoin casinos usually include:
No deposit bonuses:
They are available only to prospective new players. There are different kinds of no deposit bonuses available at these casinos. The ones usually available include:
- Regular no deposit bonuses involving deposit of a few bitcoins on sign-up
- Free spins no deposit bonuses that give you a specific number of free spins for use on specific games.
These are available to new and also existing players.
- New players get them as welcome match bonuses.
- They may be given in combination with free spins.
- Referral bonuses: These are available on referring friends to the bitcoin casino, after they have made a deposit into their account.
- Match bonuses: Available to new as well as existing players.
- Cashback bonuses: These are usually available to existing players to help them recover some of their losses over a period of play.
OUR TOP BITCOIN CASINOS
There are a sizeable number of bitcoin casinos available today. We take a quick and brief look at the most well-known of them all.
SPRINGBOK CASINO - R11, 500 Free on first 3 deposits
YEBO CASINO - R12, 000 Free on first 3 deposits
SUPERIOR CASINO - R40,000 Free over 3 Deposits
BIT CASINO - 100% Match Bonus Up To 1 BTC
mBIT CASINO - 110% Match Bonus up to 1 BTC + 100 Free spins
VEGAS CASINO - 100% Match Bonus Up To 1000 mBTC
PAYMENTS AND WITHDRAWALS AT BITCOIN CASINOS
Making payments and withdrawing at bitcoin casinos is fairly simple. Mandatory requirements for this are:
- A bitcoin wallet
To make payments:
- Sign up with or log in to the bitcoin casino you want to play at.
- Click on the banking or cashier section of the casino.
- Choose Bitcoin as the payment currency.
- Enter the number of bitcoins you want to transfer into your account.
- Follow the instructions that appear and click to confirm the payment.
- The bitcoins are transferred into your casino account.
To withdraw winnings the process is more or less the same except for the following step:
- Once you fill in the details and click the Withdraw button.
Public key address of the bitcoin wallet you are withdrawing to. You can do this one of the following ways:
- Type or copy and paste the alphanumeric string of the address in the space provided.
- Scan the address as a QR code in bitcoin casinos that offer this option.
Confirm the transaction to see the bitcoins transferred to your wallet in a flash.
BITCOIN CASINO FAQs FOR SOUTH AFRICAN PLAYERS
Bitcoins are relatively new and at present not available at South African casinos. It is therefore natural for you to have loads of questions about this new form of currency. We have put together for you a set of FAQs that answer the basic questions relating to bitcoins, especially from a South African viewpoint.
- What is Bitcoin?
- Bitcoin is a new form of currency that was launched in 2008. It is a cryptocurrency and is available in digital space. You can use it nowadays to fund your online casino experience. Casinos also allow players to withdraw their winnings in bitcoins.
- Is Bitcoin legal in South Africa?
- There is much controversy surrounding the bitcoin over the years globally, and this is true about South Africa as well.
- The South African casino industry has still not accepted it as legitimate currency.
- However, this does not take away from the legitimacy of the Bitcoin.
- It has already been accepted as legitimate currency in the US and also China.
- Our feeling is it is only a matter of time before South Africa follows suit.
- How do I use bitcoins to play at my favorite South African online casino?
- At this moment bitcoins are not accepted at South African casinos. When they are, using them is easy.
- You need to buy bitcoins at a bitcoin exchange and store them in a bitcoin wallet.
- Follow the process listed above in the section titled Payments and Withdrawals at Bitcoin Casinos to transfer them to your casino account.
- Once they are in your account you can use them to play your favorite casino games.
- How much do bitcoins cost in South Africa?
- Bitcoin prices are volatile usually.
- The accepted standard for pricing, in terms of the exchange value, in South Africa, is the standard international exchange price against the US Dollar.
- You can then convert that price value into South African Rands to arrive at the price in terms of the local currency.
- However there is no fixed rate as the bitcoin exchange value is constantly fluctuating.
- How and where do I buy bitcoins in South Africa?
- In South Africa buying bitcoins is quite difficult because online casinos here have not started accepting them. There are, however, places where you can buy them for the South African market through the usual options:
- Credit card purchases at CoinMama.
- At local Bitcoin exchanges, e.g. BitX.
- Bitcoin ATMs.
- At community exchanges, e.g. at Local Bitcoins.
- Through trading platforms, e.g. OptionTime and Markets.com.
- How do I get a Bitcoin e-wallet?
- Getting a Bitcoin e-wallet is simple.
- You do not have to download it to your computer or mobile device.
- You can buy a bitcoin e-wallet.
- There are a large number of them available for free as well.
- Sign up with the e-wallet by providing the required information.
- Set a password to access the private key; it is as simple as that.