Bitcoin deposits at online slots: Is it an option?

Posted by: stiphbami in InfoVibe Sep 15, 2020

Recently cryptocurrencies such as Bitcoin have become more commonplace in online casinos and used more widely by players who used to use more traditional payment methods for their online gambling. Slot players especially have started to use crypto-funds more frequently and because players are trusting this form of currency more and more, the number of online casinos accepting cryptocurrencies including Bitcoin is on the increase, giving players greater flexibility in how they wish to deposit and withdraw their funds, not to mention, enjoying 500 free spins to play.

How does Bitcoin work with online slots?

To gamble using Bitcoin, players can simply make a deposit using their e-wallet and then the cryptocurrency is converted into a standard currency – for example, pound sterling to UK and USD, for the US in a similar way to debit/card cards. However, cryptocurrencies like Bitcoin can have many advantages over traditional currencies when playing online slots – so take a look and see if this payment method could be better for your slot play.

How to play online slots using Bitcoin

It’s so simple to add funds to your e-wallet, all players will need to do is transfer the funds or purchase Bitcoin and check that the online casino you’re choosing to play at accepts Bitcoin and of course, it’s also important to check that the online casino is legitimate and licensed before you despot your money. The transfer is instant, so once you have deposited your funds into your online betting account successfully, you’re all set and can use the currency to play online slots right away. The only exception is that if you are depositing a large amount, this may take a little more time as the blockchain technology will need to process this – but even so, it’s still extremely quick. Before you deposit your Bitcoin, it’s worth checking if the online casino will allow you to withdraw the funds via Bitcoin as many online casinos allow you to deposit Bitcoin but not to withdraw it.

Advantages of using Bitcoin for online slots

Privacy: One of the main reasons players choose to use Bitcoin is because this method used enhanced privacy measures for players which can be very appealing as this means that your personal data, as well as your financial information, is not available to any third party. Additionally, unlike with traditional credit cards, players will not experience any chargeback problems which can occur with some banks as the transaction with Bitcoin is not processed via the bank or third party.

Instant deposits and withdrawals: Another huge advantage of using Bitcoin and many other cryptocurrencies is that transactions (deposits and withdrawals) and instant but the main bonus is that withdrawals are instant too, whereas with many traditional payment methods some withdrawals can take two or three days minimum.

Of course, Bitcoin isn’t for everyone and the biggest concern for players is the volatility of cryptocurrencies in comparison to traditional currencies. But in a nutshell, using Bitcoin means that all your transactions are not only fast but are extremely secure.