I consider Bitcoin to be the perfect casino payment method for Australian online casino players. I will give you my honest feedback and also list the few disadvantages that I found. In my opinion, Bitcoin is a great banking option for Aussies because it is easy to use, convenient, safe & secure, anonymous, and inexpensive.
Bitcoin supports both deposits and withdrawals. This means that you can make a deposit with Bitcoin and withdraw your winnings to your Bitcoin wallet.
Website: www.bitcoin.com Type of payment: E-wallet
Does that sound interesting? If you would like to know more about why I recommend Bitcoin for Australian players, keep reading.
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What is Bitcoin and How Does it Work
Before using Bitcoin as a casino payment method, you need to know the answers to the following two questions.
|What is Bitcoin?||
|How Does Bitcoin Work?||
Make Your First Deposit with Bitcoin – Guide to Making Deposits at Australian Online Casinos
It is time to make your first deposit with Bitcoin. But there are a few things you have to take care of before that.
Step #1: Create a Bitcoin Wallet
A bitcoin wallet is a software program that presents an online space to store your bitcoins. Also, it has a public address that you can use to send and receive bitcoins.
Choose from several types of bitcoin wallets such as web wallets, mobile wallets, desktop wallets, and hardware wallets.
Step #2: Get Hold of Some Bitcoins
Don’t worry. It’s not as difficult as it sounds. Here are a few methods I use to obtain bitcoins:
- I have signed up at cryptocurrency exchanges, where I can buy bitcoins with my traditional money. Some of the best cryptocurrency exchanges are Binance, LocalBitcoins, CoinJar, and CoinBase. Link your cryptocurrency exchange account with your credit card or bank account.
- I use websites such as Coin ATM Radar to locate Bitcoin ATMs, which allow me to exchange my traditional money for bitcoins.
- I also have an account at Paxful, which helps me to locate banks that allow me to exchange my bitcoins in exchange for fiat currency.
- My account at LocalBitcoins enables me to find someone who wants to exchange his/her bitcoins for traditional currency.
- Also, CoinBase rewards me with bitcoins whenever I watch videos, take surveys, or play games.
Also, here is a nice tip for you.
Almost all of us have credit cards. Do you like the idea of using your credit card to purchase bitcoins? It sure is a convenient way to obtain bitcoins.
Here are some simple steps to guide you:
- Create an account at cryptocurrency exchanges such as Coinmama, Bitstamp, CoinBase, LocalBitcoins, Binance, and CoinCorner. These sites support the use of credit cards.
- Log in and select the bitcoin amount you want to buy.
- The cryptocurrency exchange will verify your identity.
- Supply your credit card details and Bitcoin wallet address.
- The cryptocurrency exchange will send the bitcoins to your Bitcoin wallet.
Step #3: Make Your First Deposit with Bitcoin
Once you have successfully completed Step #1 and Step #2, you are ready to make your first deposit.
Just follow these steps:
- If you haven’t already done it, create an account at a Bitcoin online casino that accepts Australian players.
- Log in to your gaming account and visit the banking area.
- Choose Bitcoin as your preferred casino payment method.
- Type your deposit amount and follow the rest of the instructions.
- The bitcoins will be instantly credited to your account.
How to Withdraw Your Winnings at Bitcoin Online Casinos
One of the best features of Bitcoin online casinos is their collection of BTC games. You can wager bitcoins on these games and win prizes in bitcoins.
Don’t be in a hurry to withdraw every single bitcoin you win. I advise players to withdraw only a part of their bitcoin jackpot and use the rest on online casino games.
So now that you have won some bitcoin jackpots, you want to withdraw them to your bitcoin wallet. The procedure to do so is simple especially as Bitcoin supports both deposits and withdrawals.
Here are the steps to withdraw your casino winnings:
- Log in to your online gaming account.
- Navigate to the banking area.
- Select Bitcoin as your preferred withdrawal method.
- Provide the online casino your public Bitcoin wallet address.
- You can copy and paste it manually into the field provided for the purpose.
- Or you can use your smartphone or tablet camera to scan the QR code of the bitcoin wallet.
- Confirm the details by clicking on “Confirm.”
- Click on the “Withdraw” option.
- Your bitcoins will soon hit your bitcoin wallet.
- Pay a small fee to speed up the process or be willing to wait for a few hours to receive your winnings.
Also, Bitcoin online casinos may keep your payout request pending for up to 72 hours. They need this time to verify your account details. The gambling laws of the jurisdictions that have licensed your online casino require it to verify player accounts to prevent money laundering and fraud.
In this case, your bitcoin withdrawal will be delayed until the online casino verifies your account and approves your payout request.
Everything about Fees
Do Bitcoin online casinos charge fees? I haven’t come across any online casino charging players for depositing and withdrawing with Bitcoin. You don’t have to pay bitcoin miners either. Nobody forces you to pay any fee.
If you choose to pay a fee, however, and these are nominal fees, you can speed up the withdrawal procedure.
How to Choose a Bitcoin Online Casino
The easiest and safest way is to just choose one of the Australia-friendly Bitcoin online casinos I have listed on this website. I have vetted each casino properly before recommending it to Australian players.
If you insist on finding a casino on your own, here are some guidelines that may help you:
|Ownership & Licensing||
|Software & Games||
|Bitcoin Bonus Codes||
|Promotions & Tournaments||
Alternative Payment Methods at Bitcoin Online Casinos
Using Bitcoin is safe and secure. But you can use alternative payment methods if you are not comfortable with cryptocurrencies.
I have created the following list for you:
|Credit and Debit Cards||
Advantages and Disadvantages of Bitcoin Online Casinos
Bitcoin is not the perfect online casino payment method although it has many advantages.
I have listed the pros and cons of using Bitcoin at online casinos so that you can decide for yourself.
Online Casino Games at Bitcoin Online Casinos
Bitcoin online casinos offer a wide range of online casino games, as follows:
|Table & Card Games||
|Instant Win Games||
|Video Poker Games||
|Live Dealer Games||
|Progressive Jackpot Games||
|Provably Fair Games||
Bitcoin Online Casino FAQs
Q1: What kind of bonuses do Bitcoin online casinos offer?
A: You can expect a variety of bonuses at Bitcoin online casinos. Some of them are welcome bonuses, reload bonuses, cashback bonuses, and free spins. Some Bitcoin online casinos reward you just for depositing with Bitcoin.
Q2: Is Bitcoin as a casino payment method safe and secure?
A: Yes, it is. Bitcoin is safe and secure. Although bitcoin transactions are stored in a public ledger that is easy to access, nobody can hack them. Moreover, Bitcoin online casinos implement the latest security technologies to protect your data.
You must also remember that no bank or financial institution is required to complete a Bitcoin transaction. And you don’t need to reveal your personal and financial details to use Bitcoin. You don’t even have to link your bitcoin wallet to your bank account or credit card.
Q3: Do Bitcoin online casinos support other currencies and payment methods?
A: Bitcoin-only casinos support only Bitcoin. But many online casinos support a wide range of fiat currencies and payment methods such as credit/debit cards, bank transfer, electronic wallets, and others.
Q4: Is it legal for Australian players to use Bitcoin?
A: Australian online casinos can legally offer Bitcoin as a payment option for Australian players because Bitcoin is not under the control of the Australian government. This means that it is legal for Aussies to use Bitcoin.
Q5: Are Bitcoin transactions really instant?
A: Bitcoin transactions are not literally instant, but they definitely move at lightning speed. Your online casino may take up to 72 hours to verify your account and process your payout request. After that, you have to wait for just a few hours for your winnings to reach your Bitcoin wallet. If you pay a small fee, your withdrawal will be faster.