Ten years ago, a mysterious programmer going by the name of Satoshi Nakamoto released the Bitcoin whitepaper, which made the birth of cryptocurrencies possible. Rewind to December 2017 and the entire world is talking about it, as that’s when this crypto reached its highest value of over $19k.
Even today, its value is pretty high, but the main thing why people are still interested in it is not to save it for the future, but use Bitcoin as a UK casino payment method. Those who want to remain anonymous while playing online casino games choose it as their preferred option.
Advantages of Using Bitcoins at Online Casinos
Obviously, the main reason why players decide is to keep their financial information private. Using cryptocurrencies means keeping your private data private. No one other than you and the casino will know that you’ve been using it to gamble.
Another reason why people have been using this currency to play online games, such as blackjack, sports betting, and slots, is to try to increase their amount. Financial experts predict a very bright future for cryptocurrencies, so having them in your stash means that you could become a millionaire in a few years’ time.
Another possible advantage is that sometimes bitcoin online casinos offer different offers such as free spins for the players who use this cryptocurrency as a payment method. But this must be checked by reading the casino T&C, before you decide if you want to sign up to this UK casino.
Of course, paying a couple of grand for 1 BTC, which you would keep in your online wallet for years probably doesn’t seem like a good idea. But, what about winning a few BTCs by gambling online?
Step by Step Guide to using BTC at Online Casinos
The first thing you got to do is actually find a UK casino you can do this by checking our list of best bitcoin casinos with reviews. The truth is that although it is the world’s most popular cryptocurrency, there are still many casinos out there that do not list it in their list of payment methods.
The good news is that with a little help from our site, Stroke of Luck you can easily find a trustworthy online casino that accepts Bitcoins. We have picked out some of the best casino UK 2019 that accept Bitcoin as one of deposit/withdrawal methods. So, all you got to do is take a look at our list and choose one of those UK casinos.
And once you’ve registered an account, it’s time to upload your funds. There must be a button somewhere saying either ‘cashier’ or ‘bank’. Click on it, go to deposits and pick this as your preferred method at a UK bitcoin casino. Once you choose the amount of BTC (or Satoshis) that you want to deposit, you will then have to confirm your decision in your wallet. And that’s basically it. After the BTCs are uploaded, you can start having fun!
If you end up winning something on games, you will be able to withdraw Bitcoins from casino straight to your crypto wallet. Just go to the cashier/bank section and pick this cryptocurrency as your withdrawal method. Unfortunately, not all UK casinos allow BTC withdrawals, which is one of the biggest disadvantages of using BTC for gambling.
Disadvantages of Bitcoin Gambling
The thing about BTC is that it’s been around for only 10 years and has achieved its world-wide fame only about a year ago. Therefore, it’s not yet too commonly used by online casinos. And even if it is, it’s used only for deposits in most cases. We say ‘in most cases’, which implies that there are some casinos that allow both deposits and withdrawals to be done in BTC. And you can find those casinos on our list.
Now that we’ve solved the biggest BTC problem, it’s time to talk about its second disadvantage. We’re talking about the speed of transactions. It is based on blockchain technology which is almost un-hackable. But, it takes time to make each transaction safe and secure. So, if you’re in a hurry, maybe this isn’t your best choice. Again, it all depends on which casino you’re using. Some are faster than others. And that’s exactly why the best thing you can do is focus only on those casinos found in our list!
Bitcoin Online Casinos – FAQ
❓ Am I 100% anonymous when gambling with Bitcoin?
Well, the casino will know that you’re using BTCs. And considering that they’ll probably ask you to provide your personal details while registering an account, we can’t say that you’re 100% anonymous. But, there’s a solution to this problem – make an account at a casino that’s famous for its attitude towards user privacy.
💻 How long do transactions usually take to complete?
Although it all depends on the casino, generally speaking, deposits are fast (only a few minutes), while withdrawals can take some time (up to 48 hours).
💰 How Bitcoin compares to other cryptocurrencies when it comes to casino deposits/withdrawals?
Because it’s the most popular cryptocurrency on the planet, it is also the most commonly accepted crypto in UK online casinos. Another advantage is that it’s considered to be more secure and faster than many others.
🌐 Can I upload funds using pounds and withdraw using BTCs?
Not many casinos allow this, but those that do usually don’t have a too great exchange rate. So, it might be better to withdraw the funds in pounds and turn them into BTCs in an online crypto exchange.
💰 What’s the least amount of Bitcoin that I can deposit?
Considering that 1 BTC costs several thousand pounds, most top casinos offer depositing/withdrawing in Satoshis. Named in honor of its father, Satoshi is the smallest unit. A single Bitcoin equals 100 million Satoshis.