In this guide, we will discuss whether depositing via blockchain is safe, how it works, as well as the pros and cons of using bitcoin as a casino payment method.
what is bitcoin and how to get it?
You’ve probably already heard terms like bitcoin and cryptocurrency in the news or on your social media, but what do they mean? To begin with, bitcoin is a cryptocurrency, which means that it is a digital decentralized currency. This means that it is not tied to any bank, country, or corporation, which makes it attractive to people looking to transact strictly peer-to-peer.
Reading: Best bitcoin casinos ghana
Like all currencies, its value fluctuates. As it becomes more popular, more businesses, both online and offline, accept bitcoin for payments. casinos are no different.
When it comes to obtaining this digital currency, there are a few options. the simplest method is to buy coins from online providers using your chosen currency. alternatively, you can “mine” bitcoin while maintaining the consistency of the block chain.
This can be achieved through transaction verification and requires a large amount of specialized software and computing power. therefore, cryptocurrencies are not the recommended route for those who want to spend a few bucks on casino sites.
best bitcoin casinos by category
We’ve already ranked our top picks for bitcoin casinos at the top of the page, but we understand that sometimes this doesn’t give readers the full picture. To help you choose the right site for your specific needs, we’ve broken down our options even further. here are the best bitcoin casinos by category:
If any of the above sites appeal to you, you can immediately start playing with bitcoin by clicking on the links provided. If you’d rather learn a bit more about how cryptocurrencies work and how they can be used in online gambling, before you jump into the deep end, stick around. we will provide a detailed overview of online bitcoin casinos in the rest of this page.
the best bitcoin and blockchain casinos
Transactions using bitcoin and all other cryptocurrencies are made possible by blockchain technology. To put it in the simplest terms, the blockchain is like a huge, completely open and public database. this database does not have a central location, which means it is not vulnerable to hackers. this allows for the secure transfer of data or, in the case of cryptocurrencies, money.
Naturally, bitcoin is an attractive payment method for many players who spend a lot of time online. If you’re interested in getting in on the action, it’s not as difficult as you might think. bitcoin is stored in digital wallets, and you can find several wallets online. just sign up, download the software and then start converting your money into bitcoin. once you have some money in your wallet, you can start playing online!
security guaranteed in a bitcoin casino
One of the reasons behind the rapid rise of bitcoin in recent years is that, along with other cryptocurrencies, it is the most secure way to make a transaction. uses the blockchain to store and perform all transactions, and the payment method is rapidly spreading to our daily lives.
Cryptocurrencies are proving to be the most progressive and disruptive financial development of our generation, but they are poised to make managing your financial life easier and more secure than ever.
Therefore, it is safe to say that using bitcoin as a payment method is a perfectly safe way to make a deposit at an online casino. In fact, many of the best bitcoin casinos actively encourage players to use the currency to fight fraud and other insecure payments.
legal bitcoin casinos: how to recognize which ones are legitimate?
When searching for safe and legal bitcoin casino sites, you should follow the same steps you would take to find any safe online casino. First things first, always look for the right accreditation and certification. In the case of players from Ghana, you will seek a license from a reliable regulatory agency.
This is the state regulatory body responsible for testing casinos before they are given the ability to operate within Ghana. without a license, a casino is simply not worth it.
In many ways, playing with bitcoin instead of traditional currencies can make your gaming experience even more secure. For starters, you never have to share your bank information in order to play. bitcoin gambling is completely anonymous and your data will never be vulnerable to theft. the only thing you need to be careful of is your bitcoin key. this encryption code gives you access to your electronic wallet.
If you lose your code, you will not be able to access any of your funds. be sure to keep your password written down in a safe place. Thanks to these aforementioned security measures, playing at sites that accept cryptocurrencies can be just as safe as playing at casinos with bank transfers or casinos with paysafecard.
bitcoin in-game equity & game strategy
When playing and betting with bitcoins, as with betting in any currency, there are measures of fairness that you should be aware of. In the footer of most bitcoin casino sites, you will find information related to fairness testing of games. Third party testers regularly test the games on offer to ensure that the house edge is reasonable and that players are not being exploited.
When it comes to bitcoin betting and strategies, it’s worth remembering that betting with this coin has two sides. The most obvious aspect of betting with bitcoin is the bets you make in-game. the other side of things is the currency itself. the value of each coin is in constant flux, and many of the currency’s early proponents became overnight millionaires thanks to its rising value.
If you want to get the most out of this cryptocurrency, keep a close eye on the value of the coin. this will help you make the most of any potential wins, or allow you to be more frugal if you want to save some coins for a rainy day.
bitcoin deposit: how it works
- 1. go to the “bank” section of 22bet, or press the “deposit” button.
- 2. select bitcoin as your payment method and enter the amount you wish to deposit in your chosen currency (gbp, usd, etc.) don’t worry, this will automatically be converted to bitcoin.
- 3. open your bitcoin wallet or app to receive your bitcoin key.
- 4. Enter the password in the payment field to confirm the payment and start playing.
once you have found the best bitcoin casino for your needs, depositing there with bitcoin is quite easy.
First, you need to register with the casino of your choice, enter the requested details and possibly verify your account, either by email and/or by providing identification. Once you’ve completed this, you’re ready to make a deposit so you can start playing.
To add funds to your new casino account, simply go to the payment methods section and select deposit. here you should be given the opportunity to deposit via bitcoin, and it will ask for your wallet details so you can connect your account.
If there are sufficient funds in your bitcoin wallet, the transaction should go through instantly, providing you with playable money in your casino account.
at this point, you can go ahead and choose a game to play.
summary of advantages and disadvantages
one of the biggest advantages of conducting your casino transactions via bitcoin is that none of your banking information goes to the casino, giving you a more anonymous gaming experience and ensuring that your data is kept secure. . Transactions are also very fast and secure when using bitcoin, so you don’t need to wait for a bank to approve or even hold your funds while they move.
On the other hand, the volatility regarding the value of bitcoin means that you should be careful about depositing large amounts of funds into the casino, as this unpredictability means your funds could be worth completely different amounts week to week or even day to day.
However, it is worth noting that if your funds are converted into British Pounds at your casino, the value of this will not change while in your casino account, these funds will remain the same than when you deposited, regardless of the current value of bitcoin.
There is no need to overcomplicate things and if you prefer to stick to traditional payment methods, you should know that we have dedicated a page to the best real money casinos in 2022.
bitcoin casino bonus – which is the best
If you’re looking for a bitcoin-exclusive welcome bonus, you’re sadly out of luck. for now, such a thing simply does not exist. however, you will still be able to take advantage of the casino bonuses offered by bitcoin gambling sites. just be aware that not all casinos will allow you to opt for a bonus when making a deposit with this payment method.
It is always important to read the terms and conditions of a welcome bonus before participating, as many only recognize deposits via debit cards or e-wallets. this is especially something to be aware of on sites advertised as paypal casinos.
Another thing to watch out for online is bonus scams. never believe any site that claims to offer a 100 bitcoin welcome bonus. remember, if it sounds too good to be true, it probably is. If you are unsure about the legitimacy of an online casino, check their credentials for a license from the necessary regulatory body and certifications from third party testing agencies.
withdraw your earnings with bitcoin
Just as depositing with bitcoin is very easy and simple, so is withdrawing with cryptocurrency. As with any currency, you should be aware of the transaction fees that the online casino may impose before making any transactions, as they vary between different casinos.
However, if you’ve had a successful period of play and wish to withdraw your winnings, simply head to the banking section of your casino account. This is usually never as easy to find as the deposit section, but you should still be able to find the withdrawal button fairly quickly.
Once you have located this, simply enter any details that the casino requests to process your payment along with the amount you wish to withdraw. Withdrawals can take a few days to process as they often need to be approved by the casino before being posted to your account.
If you have any problems withdrawing your funds, please contact the casino’s customer support team, who should be available to assist you with any issues you may have.
bitcoin gambling and taxes in ghana
Bitcoin may be different from traditional currencies, but that doesn’t mean the rules no longer apply. Just like any form of income, you need to consider taxes related to your earnings. this can be tricky, as the currency does not carry as much documentation as traditional currencies (which is part of the reason it is so attractive to criminal enterprises).
That said, governments are becoming more aware of cryptocurrencies and how to tax digital wealth. You are only eligible to pay taxes on bitcoin if you have sold or spent the currency. taxes do not apply to those who bought the currency or simply kept it in a digital wallet. We recommend that you speak to an account to fully understand how much you owe on your bitcoin earnings and how to pay.
Like many other forms of online payment, bitcoin can sometimes incur fees. however, this changes on a case-by-case basis at each of the best bitcoin casinos. in fact, many casinos will pay the fees themselves, taking this cost away from the customer.
However, you should always check, as you should with all payment methods, if you will be charged transaction fees when you deposit or withdraw at an online casino.
alternative payment methods
Although it is gaining in popularity, bitcoin is still not one of the most popular payment methods when it comes to online gambling transactions. a significantly higher entry level is required to use the cryptocurrency which not all Ghanaian punters will be comfortable with.
Of course, no online casino worth its salt will only accept one form of payment. Nearly all bitcoin casinos in ghana, for example, will also offer debit card payments, in addition to a variety of e-wallet and prepaid options. check out some alternatives below.
best bitcoin mobile casino: discover the applications
Nowadays everything is available on mobile devices, and the best bitcoin casinos are no different. While many bitcoin online casinos have their own dedicated apps that you can download directly to your device, many have started to turn their attention to mobile-optimized sites.
This means that you can access a large part of the library of casino games from your mobile browser, without having to sacrifice memory space on your device by downloading the best casino apps.
Just make sure that when you make a bitcoin deposit on a mobile device, you’ll also need mobile access to your digital wallet. that means you may need to download software to your device or remember your password to make a deposit.
best live casinos that accept bitcoin
Live casino games are one of the biggest draws to the online gaming experience. modern technology allows for crystal clear transmissions and a focus on interaction, allowing you to experience the immersive atmosphere of a land-based casino from the comfort of your living room.
The best bitcoin casinos often come equipped with state-of-the-art live software from leading software developers and a host of table games where you can try your luck. Most bitcoin live casinos allow you to make deposits while you’re in the game, so you can top up whenever you need to.
just make sure you have access to your bitcoin wallet and/or key beforehand. To learn more about live software, we recommend you check out two of the biggest names in the industry by reading our pages on playtech casinos and netent online casinos.
new bitcoin casinos – newcomers
As bitcoin and other cryptocurrencies continue to grow in popularity, more and more casinos will add them to their payment options. At the moment, there are only a select few casinos that accept bitcoin as a payment method. Naturally, the newer online casinos are more likely to offer the latest and most cutting-edge payment options.
That’s why you’re probably more likely to be able to pay with bitcoin at newer establishments than at older casinos. That said, it’s important to keep an eye on developments. Casinos regularly improve and add to their payment options, so a casino that currently doesn’t allow players to pay with cryptocurrency could very well allow them to do so in the near future.
the latest bitcoin trend: poker
While there are many games that can be played and enjoyed at bitcoin casinos, poker has definitely taken the lead as a player favourite in recent times. The trend of playing poker with cryptocurrencies began in the United States, but has quickly spread throughout the world through the Internet.
Although bitcoin certainly leads the charge when it comes to crypto poker games, there could be a new challenger entering the ring. an upcoming cryptocurrency known as chp (or “chips”) can be played immediately in-game and transforms your regular btc funds into tokens for staking. Although far from being the norm yet, the opportunities for gambling via blockchain seem limitless.
general information about the bitcoin provider
bitcoin is the most well-known cryptocurrency in the world, and the blockchain manages all transactions of this futuristic digital currency.
bitcoin was created by the mysterious satoshi nakamoto in 2009 and was the world’s first decentralized digital currency. however, it was in 2017 that cryptocurrency exploded into the public domain, as its value soared against traditional currencies.
A growing number of businesses around the world, including casinos, accept bitcoin as a form of payment, while cryptocurrency continues to grow in everyday life.
the future of bitcoin gambling
Bitcoin’s future in online gambling is almost guaranteed. Due to its highly secure nature, it is an ideal payment option for playing online at real money casinos. coupled with the continued success of bitcoin, it is only a matter of time before it is the payment option for all players.
The only obstacle is, perhaps, that many are confused and mistrust the new technology. this is something that will surely change over time, especially as more casinos accepting bitcoins enter the market.
Conclusion: Lots of good bitcoin casino sites to choose from
Using bitcoin as a payment method is one of the safest ways to move funds to and from an online casino. Cryptocurrency is still in its infancy, but you can expect more casinos to start accepting it in the coming months and years.
If you’re looking for safe bitcoin online casinos to use, simply check out our review of the best online casinos in ghana, which we’ve created to ensure you only use the safest and most reliable online casinos out there.
frequently asked questions
We hope this page has answered all your questions about bitcoin casinos. If there is anything that seems unclear or a question that hasn’t been answered, please see our FAQ below.
⭐ what are the best bitcoin casinos?
While there aren’t many bitcoin casinos on the market, there are certainly a few that our experts consider to be a cut above the rest. You can take a look at our ranking of the best bitcoin casinos to explore the best sites.
💼 is it legal to play with bitcoins in online casinos?
Betting with bitcoins is absolutely legal. though sadly cryptocurrency has received a bad rap due to its use by some criminal elements. however, the use of the currency and the game with bitcoin is completely safe and legal. You can learn how to identify safe and legal bitcoin casinos by reading our bitcoin casino legal guide.
❓Is it possible to get free bitcoins?
Technically yes, but getting “free” bitcoins involves mining, which is only possible with the help of expensive hardware. therefore, it is much easier and cheaper to buy bitcoins. you can read more about it in our guide to get bitcoin.
✨ what are the advantages and disadvantages of betting with bitcoin?
There are many advantages and disadvantages to betting with bitcoin. On the one hand, it is a very secure payment method. on the other hand, however, it is not as widely available as other methods. To review all the pros and cons, check out our pros and cons overview.
💳 what are the alternatives to bitcoin to play online?
There are many viable alternatives to bitcoin when playing online. While you’re unlikely to find many cryptocurrency alternatives, you can choose from a variety of bank transfer, debit card and e-wallet options. To learn more, read our guide to bitcoin alternatives.
🃏 is it legal to play poker with bitcoins in ghana?
yes, as long as you play at a licensed and regulated site that offers bitcoins as a payment option, playing poker with bitcoins is legal in ghana. you can learn more about playing poker with this payment method in our bitcoin poker overview.