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Bitcoin Payment Accepted

Bitcoin Slots – Play Free Bitcoin Slots

With increased understanding of this new concept in payment and transactions, the number of online casinos offering Bitcoin slots has grown in recent years and with predicted future demands, is set to climb higher.

Our guide proposes to enhance your knowledge of playing slots online using Bitcoin through outlining the pros and cons of cryptocurrency, how to deposit and withdraw, how we choose the best casino sites offering Bitcoin transactions and any other useful titbits along the way.

We will be going into greater depth on the advantages and disadvantages of Bitcoin later on in the guide, however, here are some front-runner positives:

Anonymous Transactions
Decentralized Digital Currency
Easy Deposits and Faster Withdrawals

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Bitcoin Payment Accepted

Mr. Gamez ensures your online safety:

What is Bitcoin?

It is said that ‘knowledge is power’, however, even though digital currency such as Bitcoin arrived on the scene in 2009, it is still considered a ‘new’ concept and given a wide berth by many online casinos and players due to the lack of understanding and possible risks involved.

Bitcoin is a decentralized digital currency without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries…transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. . .
Bitcoin, Wikipedia

Satoshi Nakamoto, a pseudonym used by an unknown person or group of people, invented the cryptocurrency Bitcoin in 2008 and as part of the open-source software project, the first Bitcoin transaction was implemented in 2009. As a reward for the process known as mining, bitcoins are created and can be exchanged for other currencies, products and services.

Unlike traditional currencies such as Euros, Dollars or British Pounds, Bitcoin (BTC) is not regulated by the government or central bank but by a network of computers which regulates its production and value. Many thousands of businesses are now utilizing Bitcoin as an acceptable method of payment for various products and services, including online casinos.

Bitcoin is managed via blockchain. . . a computer network that verifies transactions. The system is complex but allows for users to remain anonymous and transactions to be secure. . .

Bitcoin payments are transferred peer-to-peer or player to casino operator via special ‘wallet addresses’ which encourages free and almost instant transactions to take place. This is one reason for its popularity amongst players when compared with other deposit and/or withdrawal methods.

Casino operators are often charged a small transaction fee when players use traditional payment methods like debit/credit cards, e-wallets and bank transfers. Although they may not directly visit this upon the player, it may result in a casino needing to offer lower value promotions to claw back outgoing costs.

With Bitcoins providing free transactions, very often BTC players will benefit from increased rewards and higher value promotions.

Play Bitcoin Slots

When registering with a Bitcoin casino, players are not requested to share any personal or financial information with the online casino operator and therefore maintain their anonymity and the freedom to move funds around as they please. The most they may need to provide is a relevant email address in case it is necessary to reset the password for their online casino account.

Often when using Bitcoin as the primary payment method, players will have the opportunity to claim exclusive bonuses available to cryptocurrency depositors only, this can include free spins on various or specific slots. For players who wager on casino games in jurisdictions which are still not regulated, playing Bitcoin slots provides protection against their funds being seized by authorities due to cryptocurrency being decentralized and not beholden to any government or central bank regulations.

Here’s some popular bitcoin slots you can try out for free here at Gamblib:

Where to Play Bitcoin Slots for Real Money?

There are a couple of options available to players wishing to play Bitcoin slots. They can either register at a Bitcoin casino which is exclusive for cryptocurrency players and for those who wish to play with complete anonymity, or at any other online casino that accepts Bitcoin deposits as well as multiple other traditional payment methods.

Hybrid casinos, like the latter, will often convert the cryptocurrency into traditional currency and players will need to provide id verification upon the withdrawal of funds through official documentation such as bank statements, utility bills and photograph id. Check out our top recommended casinos where you can play slots using Bitcoin:

Best Bitcoin Casinos

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Why Play Bitcoin Slots?

Playing Bitcoin slots can be advantageous if players prefer to maintain anonymity, enjoy better payouts and have control over their privacy and funds. If players are hesitant about depositing in Bitcoin at a new casino there are many sites which offer free play slots and players only need to register an account to begin with.

How We Choose the Best Bitcoin Casinos

Our team of experts work tirelessly to review and update our Best Bitcoin Casinos list. They ensure that all of our recommendations are licensed and regulated, display the most up-to-date bonus offers, deliver varied games portfolios and top software, offer a fair and secure online gambling experience.

Safety and Security

All Bitcoin casinos must be licensed and regulated by a reputable gaming authority such as the United Kingdom Gambling Commission or Malta Gaming Authority. All regulated online Bitcoin sites will utilize encryption technology to safeguard data and financial transactions.

Trusted Payment Methods

It’s important that players can make Bitcoin deposits and withdrawals with ease, we review the speed of payouts and any withdrawal limits imposed. We also review any other payment methods available to ensure they are trusted and reliable e.g., PayPal, Visa, Neteller.

Fair Gaming

For Bitcoin casinos, our team will check to see if players are able to utilize the ‘Provably Fair’ algorithm concept which is unique to Bitcoin slots and other games using cryptocurrency ensuring a fair game for every wager made.

Reputation

We check to see how long a Bitcoin casino has been in operation and whether it has received or been nominated for any industry awards. We evaluate the overall performance whilst listening to the opinion of both players and experts.

Games & Software

We like to ensure that the best Bitcoin casinos offer a variety of online games, not just classic and video slots but other favorites like progressive jackpots and table games. We also highlight the Bitcoin slots which provided by some of the best software developers in the business.

Bonuses & Promotions

Everyone loves a bonus and we ensure that the Bitcoin casino bonuses and/or promotions listed are up-to-date with applicable fair terms and conditions.

Customer Support

Our team will review the customer support team offered by the Bitcoin casino, ensuring they are friendly, helpful and available. Many sites will offer 24/7 multi-lingual support.

Mobile Compatibility

As more and more players like to gamble on the move, our experts will test out the mobile compatibility for a more flexible experience.

Payment Options for Bitcoin Slots

To play Bitcoin slots for real money, players will firstly need a digital wallet containing Bitcoins. The easiest method is to purchase Bitcoin from an exchange, there are plenty of popular choices such as Gemini, Coinbase, Kraken, Binance.

Players then choose a Bitcoin wallet which can be stored on their cloud or alternatively, downloaded to their computer or usb device. The Bitcoin wallet is required for deposits and withdrawals at any Bitcoin casino.

How to Deposit

Register at one of our recommended Bitcoin casinos
Visit the Cashier and select Bitcoin as your chosen method of payment
Copy the wallet address provided by the casino (made up of random letters and numbers), paste it into your digital wallet and confirm the Bitcoin transfer

How to Withdraw

Should you be fortunate to win, many Bitcoin casinos will allow for withdrawals back to your digital wallet. The greatest advantage of using Bitcoin digital wallets is that in many cases, withdrawals will occur instantly or more-or-less instantly.

However, some online casinos may not allow for withdrawals via the Bitcoin digital wallet and players will need to choose an alternative payment method such as a debit/credit card, e-wallet or bank transfer.

It’s advisable to check out the payment methods prior to depositing so as to avoid delays when it comes to withdrawals.

Pros and Cons of Playing Bitcoin Slots

Let’s take a look at the possible pros and cons:

Anonymity – Bitcoin transactions are processed anonymously as no personal information is shared aside from the digital wallet email address. Blockchain transactions are completed via complex security encryption.
Transactions – Bitcoin allows for free and almost instant transactions through an online casino attracting increased benefits when compared to regular currency which often incurs a small fee that is swallowed up by the casino operator but may result in lower odds and lesser value promotions.
Speedy Withdrawals – Bitcoin tends to offer much faster withdrawals than most methods. On par with e-wallets, players can often access their winnings within minutes.
Decentralized – As Bitcoin and other cryptocurrencies are not affiliated with a government or banking provider, funds cannot be seized automatically by authorities. This is especially useful for players gambling in unregulated jurisdictions.

Availability – Cryptocurrency such as Bitcoin is not widely accepted by all online casino operators, this is not helped by the complex licensing rules surrounding the use of cryptocurrency as a customer payment method due to its decentralized nature.
Fluctuation in Value – Bitcoin like any other cryptocurrency is volatile, meaning its value can increase/decrease dramatically within a short time span, diminishing your online gambling funds or winnings. This can also deter online casinos from accepting Bitcoin due to the high risk element.
Protection – As Bitcoin is decentralized it means that no banks are involved in processing which decreases the security and protection players have over their funds/winnings. Cryptocurrency is still a relatively new concept and as such, largely unregulated decreasing a players protection if something should go wrong at a rogue casino or through a digital wallet being hacked.

Other Cryptocurrencies

Bitcoin is not the only digital currency available and there are other cryptocurrencies gaining popularity amongst players which are being accepted throughout many online casinos, as follows:

Ethereum

Second only to Bitcoin, Ethereum is not just a cryptocurrency but also a platform using blockchain technology which assists developers to create decentralized apps.

Litecoin

Very similar to Bitcoin, more supply available and fast transactions. Developed by a former Google engineer, Charlie Lee and launched in 2011.

Ripple

The company responsible for XRP cryptocurrency which doesn’t follow the blockchain concept and although cheaper and faster than Bitcoin, it isn’t as popular.

Dogecoin

Created as a peer-to-peer digital cryptocurrency to reach a broader demographic than Bitcoin, based on a Scrypt algorithm with faster transactions.

Dogecoin was created in 2013 as a lighthearted alternative to traditional cryptocurrencies like Bitcoin. The Dogecoin name and Shiba Inu logo are based on a meme. . . Unlike Bitcoin, which is designed to be scarce, Dogecoin is intentionally abundant. . .10,000 new coins are mined every minute and there is no maximum supply. . .
CoinBase.com

Bitcoin Slots FAQs

What is Bitcoin?

A decentralized digital currency that is not beholden to any government or central bank. Bitcoins are transferred via a peer-to-peer network without the need for any intermediaries.

What games are available at Bitcoin casinos?

At most online casinos that accept Bitcoin deposits, the games offered are the same as for any traditional payment method such as slots and table games.

Are Bitcoin slots fair and safe to play?

Yes. More often than not, casinos operate a ‘Provably Fair’ concept for Bitcoin slots which will verify results and prove no cheating or rigging has occurred on behalf of the player or operator.

How do I deposit at a Bitcoin casino?

You will need your Bitcoin digital wallet to hand. Visit the cashier, select Bitcoin as your chosen method, copy and paste the casino’s wallet address and confirm transfer.

Is it safe to play at Bitcoin casinos?

Yes as long as it is a reputable site. Check out our recommendations, they are all licensed and regulated, offer great bonuses, software, games and helpful customer support.

References

Admin. (2022, January 17). Bitcoin. Wikipedia. Retrieved January 18, 2022, from https://en.wikipedia.org/wiki/Bitcoin
Admin. (2022). About Dogecoin. Coinbase. Retrieved January 19, 2022, from https://www.coinbase.com/price/dogecoin