Not all online casinos, but an increasing amount, are starting to offer Bitcoin (BTC) as a payment method for your balance. This is due to the increase in cryptocurrency and the digitalization of the financial world. A BTC is a non-tangible coin that is therefore not linked to banks and thus not susceptible to financial problems. These BTCs are not, however, worth the same as any currency that we have at the moment, since Bitcoins are around the worth of three thousand British Pounds at the moment. This is why most payments through BTC are in parts, as in 0.02 BTC, instead of multiple BTC as you might usually see.
Payment Methods
Bitcoins are the newest form of online payment method that is taking the internet by storm. Since 2015, over 100,000 merchants accepted BTC as a new form of payment method. While this currency can, in theory, be mined, this non-existing coin is more often seen and used as an investment. In August 2017, Bitcoin was split into two digital currencies; the classic Bitcoin (BTC), and the Bitcoin Cash (BCH), which hasn’t caught on as well as the former.
How to Deposit
When choosing to deposit through the use of Bitcoin, you will most typically be asked how much you wish to deposit. By using MicroBitcoin, these online casinos make deposit amounts more realistic than using full Bitcoin amounts. By acknowledging that you wish your deposit using Bitcoin, you will see a QR code on your screen, which you can then scan, and enter your desired deposit amount. You can also decide to open your Bitcoin client if you do not wish to use the QR code. Your payment will then be completed once it has been confirmed by the network, and the transfer time can depend on the fee paid.
Pros:
- Modern
- Not bank or currency related
- Virtual Currency
Cons:
- The worth of BTC can change according to the time
- BTC worth in regard to British Pounds isn’t always easy to calculate
- The welcome bonus may be different for deposit
Where to buy Bitcoin
It is actually very easy to buy bitcoins today. Take a look at buyandsellbitcoin.eu to find the best place for you to buy bitcoin.