Jenna james | October 22, 2023 | Updated on: January 2nd, 2024
Bitcoin is one of the most popular cryptocurrencies. It gives players absolute anonymity, so players can handle gambling transactions without any fears about their private info getting in the wrong hands.
Online casino banking in many parts of the world can be difficult. While deposits happen instantly, withdrawals can take time regardless of the payment option chosen. Bitcoin aims to make payments frictionless, so it is no wonder that casinos have introduced Bitcoin payments for their speed and ease of use.
Bitcoin is the world’s major digital currency and it is presumed to have been created in 2009. Bitcoin is a virtual currency, though it is not a dollar or a euro. It can’t be held in your hand and is not even recognized as a currency of exchange by most stores.
The Bitcoin transfer process is similar to a bank transfer. When you want to send money via bank transfer, you fill in the recipient’s information and your account data. The bank takes the amount of cash from you from the account and then sends it to the recipient.
Then, the users will need to trust the bank to take the cash from your account and send it to the recipient. The Bitcoin blockchain is a database that will perform the same money tracking functions without a bank or any central authority.
Bitcoin Casinos in Australia
When it comes to Bitcoin gambling, Australia is thriving. Given its high volatility and level of obscurity, it’s no wonder that this is the status. The Bitcoin community is thriving, since 2013 when the RBA Governor made the currency legal. Ever since, the Aussie government started treating Bitcoin “like real money”, exempting it from double taxation.
Online gambling made no exclusion, and in a relatively short amount of time, even bogans had already known how to arrange deposits and withdrawals with Bitcoin. The best Bitcoin Casinos online for the moment have thousands of bettors playing daily.
How to Make a Deposit with Bitcoin?
One of the common fears, especially among new players, is that Bitcoin is a very sophisticated and advanced technology that requires learning. Simply follow the easy steps below, and you will be able to arrange some deposit at any Bitcoin Casino in Australia.
Open a Bitcoin wallet of your choice
Add a payment option to your Bitcoin wallet.
Log into your bitcoin casino account and click on the Deposit funds.
Select Bitcoin as your deposit option.
Enter the amount you’d like to play with and then click Deposit.
Copy the Recipient Address (or scan the QR code).
Send money to the Recipient Address from your Bitcoin wallet.
Enjoy gambling!
How to Make a Withdrawal with Bitcoin?
You’ve seen how to top up your casino account. However, like with the standard-currency operators, online bitcoin casino Australia-based players are far more interested in how to cash out their winnings.
Go to the Withdraw menu in your online casino account.
Enter your Bitcoin wallet and the amount you want to withdraw.
Click on the Withdraw button.
The amount will then be sent to your Bitcoin wallet.
Play with Bitcoin Casino Bonuses
If there is something that Australians love more than trying their luck with these man-made machines of fortune. Those have to be the bonuses that casino operators provide to entice and maintain punters. The best Bitcoin Casinos are well aware of this, and they make no exception when it comes to supplying generous and lucrative promotional offers to their clients.
Most top Australian Bitcoin casinos offer specific Bitcoin bonuses to attract players to deposit using Bitcoin. These come in the form of a match deposit for your first deposits using Bitcoin.
These bonus offers function on the same principles as standard currency bonuses do. Meaning, that they will have a minimum deposit requirement, a maximum limit up to which can be claimed, a validity period, and a specific amount of time to complete the rollover if any.
Advantages of Using Bitcoin at Online Casinos
If you wonder, there is a slight difference between regular gambling and Bitcoin gambling. The main difference lies in their payment options and the rate at which one can withdraw their winnings.
You are Anonymous
One of the favored advantages of Bitcoin gambling is the fact that you remain anonymous while you play. Since real money casinos are subjected to cyber threats that compromise players’ data, Bitcoin players are completely guaranteed the safety of their identity.
The System is Secure
Another good advantage of Bitcoin gambling is the fact that the system is secure and transparent. You won’t find any incriminating paperwork trail or access any personal data.
You Can Expect Fairness
When you play Bitcoin gambling, you can be very sure that the games you’re playing are fair. Through the cryptographic hash technology, you can check if the casino you selected can manipulate the outcome of your bet or not.
High Odds and Payouts
Unlike casino online games which have low payout percentages depending on the game you chose; Bitcoin casino sites have the best odds and payout percentages.
Huge Variety of Games
Playing at a Bitcoin casino allows you to access a plethora of games that you can find at any top online casino. Plus, a selection of exclusive Bitcoin casino games. Among popular Bitcoin, games are online slots that have high payouts reaching up to 99%.
Disadvantages of using Bitcoin at Online Casinos
Higher stakes depending on currency fluctuation
When you use Bitcoin to make huge deposits or play with big bets, you could face secondary losses when it comes to cryptocurrency price fluctuation.
Not all casino games are optimized for Bitcoin
The list of casino games that can’t be played with Bitcoin or other cryptocurrencies is quite short.
Even though Bitcoin is gaining a lot of momentum in the iGaming industry, the ratio of standard-currency casino sites compared to cryptocurrency venues is still overwhelming.
Bitcoin Casinos in Australia FAQs
Why Use Bitcoin at Online Casinos?
Bitcoins help to use cash around the internet without exposing your identity. This makes it very easy for casino aficionados to play games in complete anonymity.
How Does Bitcoin Work?
Bitcoin is a decentralized kind of cryptocurrency, meaning that it is not controlled by the government or a financial organization. You will then need to have a Bitcoin wallet to access your bitcoins and to send them to other people.
Is Bitcoin Safe and Secure?
Bitcoin is very simple to use, safe, and very secure; thus, making it an ideal method of payment.
How Do I Use Bitcoin at a Mobile Casino?
You have to get a Bitcoin wallet account before using the currency at a mobile casino. After you have opened a Bitcoin wallet, you will then need to buy Bitcoins to keep in the wallet.
