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What are Bitcoin Casinos?
Bitcoin casinos are different from the regular casinos in that they accept Bitcoins as a payment method.
Bitcoins are slowly gaining in popularity because of the huge benefits they offer:
- Speedy withdrawals
- Complete security
- Total anonymity
- No regulation by banks and other financial institutions
You get all the standards like excellent graphics, fantastic range of games, superb promotions, great customer support, and complete security. There are a significant number of Bitcoin casinos today and many of them are actually no deposit Bitcoin casinos, i.e. they offer cool no deposit bonuses.
On this page we take a look at the top Bitcoin casinos and also list out the ones with the best no deposit bonus. These casinos allow you to play in real money mode and pay and withdraw in Bitcoins. The no deposit bonuses available include cash/casino credits and free spins.
What is a Bitcoin?
Before we get down to discussing Bitcoin casinos and the no deposit bonuses some of them offer, we need to first define and understand what Bitcoin is.
The Bitcoin is a new form of currency that was developed by Satoshi Nakamoto in 2008. This currency exists in virtual space – the Internet – and that means you cannot buy it physically anywhere, unlike traditional fiat currency. There has been a lot of mystery about the Bitcoin and even its creator in the early years – not many were sure what a Bitcoin was and we still didn’t know whether Satoshi is actually a person or a name to represent a group of people.
There are many things about the Bitcoin that separate it from other regular currencies:
- It is independent of regulation by a bank or a government or financial authority.
- There is no fee for using Bitcoins; this is because it is not regulated.
- The possibility of transacting anonymously has been a huge plus for youngsters.
- You do not need detailed proof of identity to use it.
- Transactions – both deposits and payouts – are extremely fast unlike traditional online casino payment methods.
How Do Bitcoin Casinos Work?
Bitcoin casinos work just like any other casino except that they accept this unique cryptocurrency. You open an account to start playing for real money. The deposit is in Bitcoins, though the standard payment methods are available as well. Depending on the casino you are at you could get a cool no deposit bonus as well.
You can access the cool bonuses available, including for instance a superb no deposit bonus followed by the welcome bonus and the whole list of bonuses beyond that. Once you are done playing you can collect your winnings in Bitcoins.
Both deposits and cashouts are extremely fast at Bitcoin casinos. The primary currency supported is the Bitcoin but these casinos accept other currencies as well, including US Dollars, Euros, GBPs, and more. You will also come across some online casinos that transact in only Bitcoins.
If you need any help you can get in touch with the casino’s customer support instantly. Most Bitcoin no deposit casinos offer access to customer support through multiple channels including:
How to Get Your hands on Bitcoins
There are 3 ways of acquiring Bitcoins:
Buying at a Bitcoin Exchange
As a player, the easiest way of getting your Bitcoins is to visit a Bitcoin Exchange. This is like a standard virtual exchange where you can buy and sell Bitcoins. You can trade at the exchange by providing your identification, or you can also trade anonymously.
The process is simple:
- Open an account with the Exchange.
- Fund it using any of the popular payment modes supported, including credit/debit cards and e-wallets, among others.
- Browse through the list of sellers and pick the one you want.
Physically Trading in Bitcoins
You also have the option of connecting at the Exchange and meeting a seller at a physical location for a trade. However, you would need to be very careful and ensure that the credentials of the seller are excellent before meeting them personally.
Bitcoin Mining
The third option is Bitcoin mining and most players do not use this because it is a complex process that requires extensive skillsets in computer programming and algorithms. Bitcoin miners are specialists who create Bitcoins by adding the records of transactions to what is called a blockchain. A blockchain is a public ledger online that is available for free.
This public ledger is critical because it is a record of all Bitcoin transactions. The process of this happening is complicated. Elements involved include ‘proof of work’ in each block of the chain. This is a kind of validation that is provided by the other Bitcoin nodes in the blockchain.
Getting into the details of Bitcoin mining will detract from the original objective of this page. Suffice to say that it is a complex process that players usually do not opt for.
Bitcoin Units and Wallets
You can break up a Bitcoin into smaller measurable units. The units you can split them into are:
Once you have acquired your Bitcoins you will need a virtual wallet to store them for use. There are primarily 4 kinds of Bitcoin wallets:
Step by Step – Making a Bitcoin Deposit at Your Favorite Online Casino
Earlier, we listed out for you the top no deposit Bitcoin casinos. You get the best no deposit bonuses there – free spins or free cash/casino credits to use and play the games in real money mode. Claiming the bonus is easy; just follow the steps provided by the casino. Once you have used up the bonus you will want to redeem winnings from it. To do this you will have to make a minimum deposit into your casino account.
The primary requirement is that you have a Bitcoin wallet to store your Bitcoins in; the web wallet is the one most frequently used by players. One of the top US casinos that accepts Bitcoin deposits is BitcoinCasino.US: you can make payments in Bitcoins, Litecoin, and Dogecoin.
You can make a deposit in Bitcoins into your account at this casino by following the steps listed out below:
- Visit the Banking or Cashier tab on the BitcoinCasino website.
- Select Bitcoin as your currency for deposits and withdrawals.
- Pick out your Bitcoin wallet from the list displayed. If your wallet doesn’t make it to the wallet list displayed, pick another wallet from the list and open an account with it.
- Once your wallet is picked, copy the private Bitcoin depositing address provided; this is unique for each player.
- You are taken to your Bitcoin wallet. Open it and choose how much you want to deposit.
- Paste the unique Bitcoin depositing address that you had earlier copied into the given field.
- Follow the steps listed out to complete the transaction.
- The Bitcoins reach your BitcoinCasino account instantly.
How to Make a Withdrawal at a Bitcoin Casino
Withdrawing Bitcoins from your casino account is simple. Just follow the steps listed below.
- Click the Banking or Cashier tab of the casino website.
- Click the Withdraw tab.
- If you had opted for Bitcoin as your deposit method it automatically becomes your withdrawal method. If you hadn’t, you can select it now.
- Type in the withdrawal amount in the field provided.
- Type in the Bitcoin wallet address and ask to cashout.
- The amount reaches your Bitcoin wallet instantly.
Terms and Conditions for No Deposit Bitcoin Casino Bonuses
Like for all other casino bonuses, Bitcoin no deposit bonuses too have terms and conditions to be fulfilled. The following are some of the important terms associated with this bonus.
Wagering Requirements
The wagering requirement is among the most important conditions for withdrawing funds from your online casino account, and it applies to Bitcoin no deposit bonuses as well. The rule varies slightly depending on the kind of no deposit bonus available:
- No deposit cash/casino credits: You must wager the bonus amount a specified number of times.
- No deposit free spins: You must wager your winnings a specified number of times. Some casinos do not require a wagering requirement to be fulfilled, though.
Also important are the wagering contributions of each game type towards fulfilment of wagering requirements. This is handy information because it helps you choose the games to play with the bonus. You will ideally play those games that contribute the maximum towards this end.
Maximum Capped Amount for Withdrawal
You cannot withdraw all your winnings from a Bitcoin no deposit bonus. This is because the casino puts a cap on the maximum withdrawable amount. Any winnings beyond the maximum cap allowed is not available to you.
Minimum Deposit Amount
You are required to make a minimum deposit into your casino account to withdraw the maximum capped amount from your winnings with a Bitcoin no deposit bonus.
Eligible Games
Not all Bitcoin no deposit bonuses cover all games. At many casinos you can play only certain eligible games with this bonus. The Bitcoin casino you are at will usually list out the games covered by the bonus.
Geographic Restrictions
The use of Bitcoins is not legal in a number of countries. The casino will usually list out the countries where this bonus is not available.
Valid Documents
Casinos usually ask for documentation from you as proof of identity and authenticity. In the case of Bitcoin casinos the documentation required is minimal but it is still required for withdrawal. The documents required could be one or more of the following:
- Social Security Number (SSN)
- Driver’s license
- Passport
- Any other documents that establish proof of residence
Please note that there may be no need for documentation for opening a Bitcoin wallet.
The Importance of Provably Fair Gambling at Bitcoin Casinos
The most important aspect about Bitcoin usage at online and mobile casinos is the concept of ‘provably fair gambling.’ This concept allows you to individually test the outcome of a game for randomness, thereby establishing for yourself that the game is ‘provably fair.’ The most commonly seen way of doing this is by using cryptographic hash functions.
All the US Bitcoin no deposit casinos on our list – indeed all well-known Bitcoin casinos – support provably fair gambling. That is not all; they also list out the method used to determine fairness. The method described below is one of the most commonly used ways of establishing this concept.
Once you are dealt a hand or have hit the Spin button the following happens:
- The server throws up a random seed, called the secret seed. The name is derived from the fact that you do not know its value.
- The seed is then hashed and sent to you but kept secret.
- You in turn generate a random seed of your own.
- Once you have generated your random seed the server-based random seed is exposed and you are able to compare the 2 for a match.