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Understanding Bitcoin Casinos in Australia
Bitcoin casinos are crypto-based platforms where wagers can be placed using BTC. To make a deposit, one would need to transfer money from their Bitcoin wallet to their casino account. Then, upon withdrawal, the winnings would be transferred back to their wallet.
Typically, Bitcoin casinos are characterized by the following:
- They allow other major crypto coins for transactions
- Offer both deposits and withdrawals in BTC
- Provide fast, anonymous transactions
- Offer a wide range of games, such as slots and table games
How to Pick a Bitcoin-Friendly Online Casino in Australia
Choosing the best Bitcoin gambling site involves examining the site's reputation, selection of games, bonuses, and payment options. Consider a gaming site that's registered and regulated, and that has good user reviews and app feedback. Indeed, reputation matters, yet it's not the only factor. Let's discuss the most desired features an efficient Bitcoin casino should have.
Withdrawal times
The speed of receiving your winnings or having your deposits credited is controlled by your chosen payment method for Australian players. Bitcoin payments, despite using a heavy infrastructure of blockchain, have been seen to be faster, taking about 10 minutes on average per transaction. This, compared to days-long debit card transfers, seems considerably faster.
Accepted cryptocurrencies
Popularly accepted cryptocurrencies besides Bitcoin are Ethereum, Litecoin, Bitcoin Cash, Dogecoin, and Tether. Whether a Bitcoin-based casino or Ethereum site, other payment alternatives are available if we accept that BTC or ETH are payment methods. Other accepted cryptos at a Bitcoin casino include XRP, DASH, XMR, and Shiba Inu.
Straightforward deposits and withdrawals
One attractive feature of a Bitcoin casino in Australia with fast cashouts is that it allows for efficient transaction management. If you own a crypto wallet, you can easily credit your casino account via that wallet's interface without any special skills or software required. The casino site where you wish to play will also have a user-friendly interface to facilitate easy payments.
Security and licensing
Even when considering a Bitcoin casino with fast withdrawals, security should remain a top priority. The security level varies across different casinos for Australian players. While some prioritize encryption strength, others focus on user privacy. Regardless, leading operators are constantly working to enhance their digital platforms' resistance against data extractions, promising a safe space for crypto gamblers to enjoy their games.
Benefits of playing at BTC Casinos in Australia
Playing at a BTC casino comes with numerous notable advantages. The key perks are detailed below.
- The transactions are fully concealed and safe. No one can access the information you provide. This means Bitcoin offers more security than typical credit and debit cards, such as Visa or MasterCard. The level of security is so high that those who want to remain undiscovered prefer it.
- Deposits and withdrawals at these casinos are among the quickest in the gaming world, providing instant transactions. When compared to other withdrawal methods, cryptocurrencies take the lead.
- There are absolutely no fees. This applies to all companies and all e-wallets. Online live casinos do not impose withdrawal charges at any point.
- The transactions are also anonymous. There's no need for names, contact numbers or anything similar. For everyone else, you're simply a string of numbers and letters.
- Players receive a deposit bonus along with several other bonuses exclusively for this payment method users. This aspect will be elaborated in the subsequent section.
Bonuses at Bitcoin Casinos in Australia
Upon using Bitcoin in Australia as your funding source, you'll soon discover that there are enticing bonuses associated with it. There are various promotional offers available such as reload bonuses (bonus match from the casino on your second or fifth deposit), free spins for slot games, and a multitude of other incentives that cannot be broadly categorized at this moment. Interestingly, most of these promotions are more generous than those offered when utilizing traditional currencies. Furthermore, various bonuses are available regardless of how long you've been playing at the casino or how many deposits you've made for Australian players.
However, the most widespread cryptocurrency-related offer is the welcome bonus. This is a bonus match, meaning once you make a deposit, the casino will match it in the form of Bitcoin or standard currency. A typical example of this bonus could be a 300% bonus match on the first Bitcoin deposit. Generally speaking, many gamblers opt for Bitcoin due to the aforementioned advantages, including a variety of bonuses and promotions for Australian players.
Bitcoin Casino Pros and Cons
One of the biggest benefits of wagering with Bitcoin in Australia, compared to other transaction methods, is the minimal bureaucracy. This is because Bitcoin deals are not governed by any central entity or intermediary; the cryptocurrency is completely yours once purchased or acquired, and transactions are free from third-party control. This introduces the subsequent benefits:
- Transactions will be extremely swift, and transaction costs will be incredibly low.
- Due to the very minimal fees, Bitcoin casinos can provide larger bonuses and more substantial rewards.
- Bitcoin employs highly secure methods – You will always have access to your transaction history, and all transfers can be authenticated to ensure that the casino conducts its operations honestly. Crypto wallets also have a high level of security, making it very hard for cybercriminals to access your account.
- You have the opportunity to gamble privately – Bitcoin casinos won't require much personal information, typically only requiring your email address for deposits. However, regulated casinos will request an identification document during the withdrawal procedure.
- Low house advantage – some Bitcoin casinos use their own betting software, and as they don't have banking charges, they might be able to present games with higher RTP rates!
Negatives of Using Bitcoin Gambling Sites
Like all emerging technologies, Bitcoin-driven betting and casino sites have issues too. Let's discuss some disadvantages and risks you may encounter when playing with Bitcoin-based web casinos.
Shortage of Oversight
Mainstream casinos are legally obliged to get licenses in each territory they do business. They must also comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) rules. This regulation covers all transactions involving traditional money. It includes exchanges between the gambler, banks, financial entities, and governments. These laws help protect players from doubtful or dishonest actions.
This makes it tough to run traditional casinos without legal authorization. However, Bitcoin casinos sidestep this issue as they deal in cryptocurrency and not traditional money, enabling them to work without a license.
Unregulated Bitcoin casinos are not attached to any third-party or government entity. This poses a threat of potential unlawful activity. We can vouch for all Bitcoin casinos mentioned in this piece, as they have a proven record of legit practice. But if you plan to gamble on an unlicensed platform not mentioned here, make sure to verify its credibility before giving them your money or personal information.
No Reversal of Payments
Conventional casinos deal with traditional money and are therefore bound by reversal of payment rules enforced by financial agents. As a gambler, this rule works in your favor as you can ask your credit card company for a chargeback if you encounter a payment problem. This helps recover your money and adds an extra measure to protect you.
Unfortunately, this rule does not apply to Bitcoin or other cryptocurrencies because there are no financial middlemen in a Bitcoin casino.
Though the absence of a third party in crypto transactions can be useful, it can also make you cautious and responsible when doing transactions. With less security, you’d need to be more careful.
Therefore, it is essential to choose a crypto-based casino that has a good reputation.
Instability of Crypto Prices
Bitcoin is known for its instability and in a gambling scenario, you risk a decline in the value of your crypto funds even without betting.
Despite the fact that traditional currencies tend to be relatively stable daily, fluctuating only during major global financial events, Bitcoin can go up or down dramatically for no reason – a risk that can't be avoided.
Interested in Bitcoin Casinos? Here’s Your Guide to Buying your First Bitcoin
As mentioned earlier, playing casino games at the best Bitcoin casinos in Australia comes with many advantages. However, to start, you will first need to buy some Bitcoin. Here is a easy sequence of steps to follow to purchase Bitcoin for the first time:
- Pick a crypto exchange or platform.
- Create an account and finish any necessary verification process.
- Add money to your account via a bank transfer or other approved payment methods.
- Go to the purchase section and pick Bitcoin (BTC).
- Type in the quantity of Bitcoin you wish to buy and finalize the transaction.
- Once the transaction is confirmed, the Bitcoin will be added to your account.
We have recommended some cryptocurrency exchanges below, which are okay with using their website for gambling purposes in contrast to most of the crypto exchanges out there.
Bitcoin Casinos on Mobile Devices in Australia
Utilizing Bitcoin for online gambling on mobiles such as Android and iOS smartphones and tablets is widely accepted in Australia. Indeed, it is possible to both deposit and withdraw Bitcoin utilizing a smart device. Given that there's a unique Bitcoin wallet designed for smartphones, this process is even simpler than when conducted on a PC. However, there are two key distinctions to bear in mind. The first one is the possibility of a casino app, which many platforms might provide. Such an app is optimized, offering full functionality just like when using a computer. An increasing number of platforms without an app are emerging, preferring to provide a mobile-friendly site and games instead. To play, you must log in through a smartphone and you'll be able to access the majority of games as you would on a desktop.
The objective here is to locate a casino that not only supports Bitcoin for online gambling, but also accommodates smartphones and tablets. More than 80% of gamblers engage in gambling via a smartphone at some point, a figure that has been on the rise in recent years. This suggests that you may also wish to utilize your smartphone for gaming at some point.
The prevalence of online gambling on mobile platforms in Australia has risen so much in recent years that most casinos are primarily designed for mobile users, with subsequent optimization for desktop Australian users. This trend is observed across most websites on the internet these days.
