Given the virtual world of bitcoin, it perfectly fits online casinos for one simple reason: they are in the same universe, the virtual one. So bitcoin and online casinos are on the same page. They are compatible and accessible to each other with ease. What’s more, bitcoin, through its secure electronic system, provides a guarantee of security for deposits and withdrawals at online casinos. So it’s no surprise that there are dozens of online casinos that accept bitcoin, and more and more are adding it to their platforms every day.
How to deposit bitcoin at an online casino?
Depositing bitcoins at online casinos is instantaneous. This means that you don’t have to wait to use bitcoin in the games offered by the chosen casino. However, there is a subtlety from one brand to another. This is the potential conversion to a national currency and not to BTC. Let’s take the case where you play with bitcoins without conversion to a dollar. Here, the casino will be confronted with players who advocate the use of an ever-changing digital value. Thus, the result is a simple niche for a bitcoin value at V, and withdrawals in a week, month, or year, for a value V+1. This is why even without gambling, bettors using bitcoin or any other cryptocurrency can be winners as well as losers. The most recurrent case on Canadian bitcoin casinos is the deposit allowed in cryptocurrency, but with a live conversion against the national currency, you still depend on it daily.
How to withdraw bitcoins from online casinos?
Bitcoin withdrawals from online casinos are quite rare. In any case, these are always done with the national currency, depending on your geolocation. The money transfer can naturally be done in the direction of your e-wallet, but upgrading to the new value of the cryptocurrency. As a result, online casinos are significantly less likely to lose out, as are players who have to catch the right moment in order to make the withdrawal of winnings, with processing times of less than two hours.
By comparison, withdrawal times in the form of bank transfers take between two and seven business days. A big difference, although once again, the possibility of playing directly in bitcoins turns out to be very limited, while the use of dollars, pounds sterling, or any other national currencies turns out to be the unchanged reference. The one and only reason was given for this is that the fluctuation of cryptocurrencies such as bitcoin is far too high.