bitcoin casinos

Australian Bitcoin Casinos

Bitcoin is wildly popular now. While the value did drop off somewhat in recent weeks, it is still an incredibly popular payment method for gambling online. Here, we want to talk a little bit about how bitcoin casinos work and why you should be gambling at them. 

So what is Bitcoin Exactly?

We don’t want to dwell on this part too much, mostly because we are positive that most of you already have an inkling about what bitcoin actually is. If you don’t, then all you really need to know is that it is a cryptocurrency. This means that there is no central authority overlooking the value of the currency. It is completely determined by supply and demand.

Demand goes up; the price increases. Demand goes down; the price falls. This does mean that the value of bitcoin can err on the side of volatile. However, it seems to be a bit more stable now, and it is likely to be a lot more stable now that more uses are being found for the currency.

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How do you gamble with bitcoin?

what is bitcoinWe are not advocates of finding online casinos which only accept bitcoin. Many of these online casinos tend to operate under the radar somewhat, which means that they are not safe. By all means, if they are licensed by the UK Gambling Commission then you can always give them a spin, but the majority of them are not. 

The other reason why we suggest that you do not gamble at a site that only accepts bitcoin is the fact that your deposit and withdrawal options are going to be limited. What happens if you run out of bitcoin or the value of it is too high for you to buy more? This means that you will no longer be able to gamble at the website! Never a good thing.

Most sites will have a payment processer that will take bitcoin off your hands. They will quote you a price that is close to the market value for that bitcoin, albeit with a bit of commission taken off (they need the protection when the currency is so volatile).

The money that ends up being deposited into your account will not actually be bitcoin (in most cases). Instead, the money that goes into your account will be in your local currency.

You then gamble with the deposited money however you wish. It is probably worth noting that you won’t actually be withdrawing money from your account into bitcoin. It is rare for an online casino to offer that functionality. Instead, you will be withdrawing in your local currency.

How do you choose a great bitcoin casino?

It is surprisingly easy! Most new Australian online casinos do due to the popularity of Cryptocurrencies. Once you have established that they accept bitcoin, and most online casinos will do nowadays as many of the payment processers that they use have been set up to deal with bitcoin, you just need to look at the following:

We are firm advocates of reading as many reviews as possible when you are searching for a bitcoin casino. This way you can get an idea as to which sites are good and which leave something to be desired. 

Check out the best Bitcoin Casinos Around

If you are interested in playing at some amazing bitcoin casinos, then check out the list below. All of these have been vetted by the team of staff that we have here, so you know that they are going to be fantastic to play at. We will ensure that we keep this list ‘up to date’ with any new, wonderful casinos that seem to pop up for us. 

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