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Payments and withdrawals are 2 critical elements that contribute hugely to the
success and popularity that an online casino enjoys. Among all the payment
methods that guarantee fast and secure withdrawals and deposits, Bitcoin and
Altcoins are important ones to check out.


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AN INTRODUCTION TO BITCOIN AND ALTCOINS

Deposits and withdrawals with Bitcoin or any of the other cryptocurrencies –
commonly referred to as Altcoins – are fast and they come with lower fees
compared to most other traditional payment methods. These payment methods are
popular despite being unavailable as physical currency.

Read our comprehensive review of Bitcoin and Altcoins as viable payment methods
at online casinos. You will find on this page a list of the top online casinos
supporting payments in these currencies; register with any of them for a secure,
fun and hassle-free casino experience.


WHAT IS BITCOIN?

Bitcoin (BTC) is the first and also the most widely-used cryptocurrency
worldwide. It uses cryptography to enable you to make peer-to-peer payments and
withdrawals online through a decentralised protocol and a blockchain.

It is basically digital currency – it doesn’t have a physical form and therefore
cannot be regulated or controlled by a government or a financial institution.
You don’t need any intermediary to be able to make payments in Bitcoin; all you
need is a Bitcoin wallet.

Bitcoin is hugely popular, especially nowadays at online casinos, but it isn’t
legal in quite a few countries. As of November, 2021, 9 countries had wholly
banned the use of Bitcoin and another 42 had banned it implicitly.

At the other end of the spectrum are countries that have accepted Bitcoin. El
Salvador was the first country to adopt Bitcoin as legal tender in September
2021 along with the US Dollar ($). The Central African Republic adopted Bitcoin
as legal tender along with the CFA Franc on 27th April, 2022.

Iran has consistently used Bitcoin to bypass sanctions laid on it by the UN.
Ukraine has used this cryptocurrency to procure arms and supplies to counter its
war with Russia.

Over the years the value of Bitcoin has risen astronomically. There have been
slides of course, but these are nothing compared to the rise that this
cryptocurrency has seen. Today, the value of 1 Bitcoin is a staggering
$28,743.40.


A BRIEF HISTORY OF BITCOIN

The origins of Bitcoin can be traced back to the year 2008. In August that year,
someone blocked the domain name bitcoin.org. Barely 2 months later, on 31st
October, the idea for a decentralised virtual currency was shared as a link to a
paper called Bitcoin: A Peer-to-Peer Electronic Cash System.

The author behind the paper, and also supposedly the inventor of Bitcoin, was
apparently Satoshi Nakamoto: this was supposedly a pseudonym and it contributed
greatly to the overall aura of mystery around this currency.

Bitcoin was supposedly launched officially in 2009 to a select group of
technologists. That year, on 3rd January, Nakamoto mined the first block of the
Bitcoin blockchain. This first block is known as the genesis block.

The beginnings were mildly inglorious, to state it mildly, because of the
anti-establishment hue that came with a currency that could not be regulated by
governments or financial institutions. During the early years, it was used
mostly on the black market. The initial price in 2011 was $0.30 per Bitcoin.

Bitcoin prices started skyrocketing as its popularity increased, moving up to
$13.30 in 2013 and hitting $770 per Bitcoin by 1st January, 2014. The first
major Altcoin – Bitcoin Cash (BCH) – was released on 1st August, 2017.


WHAT ARE ALTCOINS?

All cryptocurrencies that are not Bitcoin are clubbed together and referred to
as Altcoins. Some use the term to refer to cryptocurrencies other than Bitcoin
(BTC) and also Ethereum (ETH). There are a large number of Altcoins in the
market today; we will discuss a few important ones briefly later.

The term Altcoin is a combination of 2 independent words – ‘alternative’ and
‘coin’. Most Altcoins have been created by bifurcating the original Bitcoin or
Ethereum blockchain to incorporate the developer’s independent vision into the
cryptocurrency.

There are countless Altcoins today, and most of them can be clubbed within the
following categories:

 * Payment tokens
 * Stablecoins
 * Meme coins
 * Utility tokens
 * Governance tokens
 * Security tokens


POPULAR ALTCOINS AT ONLINE CASINOS

There are quite a few Altcoins that online casinos support to help you make
secure and instant deposits and withdrawals. We discuss 2 popular ones briefly
in this section.


ETHEREUM

Ethereum (ETH) is a viable alternative cryptocurrency to Bitcoin. It is a
decentralised platform that allows you to build and run decentralised
applications and smart contracts. The USP – it allows you to do this without any
interference from a third party.

The currency used is Ether and it is the next only to Bitcoin in terms of market
capitalization. As of 23rd April, 2024, the value of 1 ETH was $1,870. On the
whole ETH has a market cap of $225 billion.


DOGECOIN

Many people see Dogecoin (DOGE) as the original meme coin, because its
developers – Billy Markus and Jackson Palmer – created it as a joke in 2013. The
image on the coin and the avatar for Dogecoin is a Shiba Inu.

It may have been created as a joke but it has made some serious progress over
the years. Its price shot up to the stars and beyond in 2021. With 1 DOGE valued
at $0.08, Dogecoin is today the 7th largest cryptocurrency in the world. Its
market cap as of 23rd April, 2024, was a cool $11.1 billion.


HOW TO DEPOSIT WITH BITCOIN AND ALTCOINS

Bitcoin and Altcoin deposits are popular because of the speed at which
transactions materialise and the complete security and anonymity they offer.
Depositing with them is easy; the first step of course is to visit a
cryptocurrency exchange and open an account there to buy your cryptocurrency.

Popular cryptocurrency exchanges include:

 * Coinbase
 * Kraken
 * Binance

Once you visit an exchange you must sign up by providing your name, address,
date of birth and other details, along with proof of your identity. Once you
have an account you can buy your Bitcoin or Altcoin. Remember, there are
transaction fees for each transaction at these exchanges:

 * The following are the processing fees at Coinbase:
    * 1% of all transactions

 * The following are the processing fees at Kraken:
    * 0.16% maker fee and 0.26% taker fee on 30-trades of up to $50,000
    * 0.14% maker fee and 0.24% taker fee on 30-day trades of $50,000 to
      $100,000

 * The following are the processing fees at Binance:
    * 0.1% for trading
    * 0.5% for instant buying and selling
    * 4.5% for all debit card purchases

Once you buy your Bitcoin or Altcoin you will need a place to store them; enter
the crypto-wallet. There are hard crypto-wallets as well as soft crypto-wallets.
For online casino payments soft crypto-wallets are good enough. Popular
crypto-wallets for online casino players to use are:

 * Coinbase wallet
 * Exodus wallet
 * Blue wallet
 * Electrum

Once you have a crypto-wallet you can park your Bitcoins and Altcoins there. The
steps to do this are simple: your wallet will have an alphanumeric address
associated with it – provide this address to the exchange where you are buying
the cryptocurrency and it gets transferred to your wallet instantl

Remember, there may be a small processing fee for moving your Bitcoin or
Altcoins from the exchange to your crypto-wallet.

Once you have funded your crypto-wallet you are ready to deposit funds into your
online casino account. Here are the steps to do this.

 1. Log in to the casino you want to play at.
 2. Visit the cashier section of the lobby and click the Deposit button.
 3. Select Bitcoin or any of the Altcoins that the casino supports as your
    preferred payment method.
 4. Enter the crypto-wallet address – this is usually an alphanumeric code – in
    the field provided. If the crypto-wallet is stored on a device with a
    camera, use it to scan the QR code shown on your screen.
 5. Enter the amount you wish to deposit in the field provided.
 6. Enter the miner’s fee as well.
 7. Enter all the other required information in the fields that appear on the
    form.
 8. Click the Deposit button.



The amount you wish to deposit gets credited to your casino account. Bitcoin and
Altcoin deposits are usually instantaneous; however, sometimes they may take up
to 15 minutes depending on what state the blockchain network is in.


HOW TO WITHDRAW WITH BITCOIN OR ALTCOIN

Most casinos that support Bitcoin and Altcoins offer them for both deposits and
withdrawals. It is not very difficult to withdraw your winnings from your casino
account using a cryptocurrency.

Before you do this, ensure that you have completed the casino’s KYC verification
process. If you are using any of the bonuses that the casino offers, do not
forget to fulfil the wagering requirements and other terms associated with it
before raising a withdrawal request.

Here are the steps to withdraw your winnings using Bitcoin or any of the
Altcoins that the casino supports.

 1. At the casino lobby, click the Withdrawal button.
 2. Choose Bitcoin or any of the Altcoins supported as your payment method.
 3. Enter the address of the crypto-wallet you want to send your winning to.
 4. Enter the withdrawal amount.
 5. Fill out the other required details.
 6. Click the Withdraw button.



Remember, most casinos have a pending period in place to give you the chance to
reverse or even cancel a withdrawal request. Casinos process your withdrawal
request only after the pending period expires. The pending period is usually 1
to 3 working days.


ONLINE CASINOS THAT ACCEPT BITCOIN OR ALTCOINS

Bitcoin and Altcoin payments are completely secure and fast, and they also lend
a degree of anonymity to your transactions. More and more casinos are nowadays,
therefore, offering cryptocurrencies for payments and withdrawals.


BEST BITCOIN OR ALTCOIN CASINO SITES

There are quite a few online casinos that support Bitcoin and Altcoin payments.
We have put together for you a list of the best Bitcoin and Altcoin sites to
check out.


FASTEST PAYING BITCOIN AND ALTCOIN CASINOS

Bitcoin and Altcoin payments and withdrawals are speedy; however, the overall
speed of a withdrawal depends on other factors as well, including the pending
period that the casino has in place and also the processing time.

On this website you will find the fastest-paying Bitcoin and Altcoin casinos
that we have come across.


PAYING OR WITHDRAWING SECURELY WITH BITCOIN AND ALTCOIN

All payments – deposits as well as withdrawals – are fast and 100% secure. All
Bitcoin and Altcoin payments and withdrawals are shrouded in multiple layers of
security, starting with the use of blockchain technology.


ADVANTAGES AND DISADVANTAGES OF PAYING WITH BITCOIN AND ALTCOIN

There are multiple advantages and a few disadvantages of using Bitcoin or any of
the Altcoins to fund your casino account and retrieve winnings from it. We take
a look at these in this section.


ADVANTAGES OF USING BITCOIN OR ALTCOIN FOR ONLINE CASINO PAYMENTS AND
WITHDRAWALS

The biggest advantage of using Bitcoin or an Altcoin for your online casino
payments is the security you are guaranteed. All cryptocurrency payments use
blockchain technology and this guarantees 100% security.

Bitcoin – and also all other cryptocurrencies that online casinos support, for
that matter – ensures complete transparency. None of the transactions have
personal data or info tagged to them. Moreover, the transaction code involved is
known only to the sender and receiver.

All cryptocurrency that you find at an online casino are not regulated by any
government or by any financial institution, like a bank for instance. This gives
each of your payments using these methods a degree of anonymity that most of the
other payment methods aren’t able to provide.

The digital nature of cryptocurrency ensures there are nominal or no fees
involved in each transaction. That is a big help because it ensures you don’t
spend too much by way of processing fees, especially when it involves large sums
of money.

The deposit and withdrawal limits are generally higher for payments involving
Bitcoin or any of the Altcoins that a casino supports.


DISADVANTAGES OF USING BITCOIN OR ALTCOINS FOR ONLINE CASINO PAYMENTS

One of the disadvantages of using Bitcoin or an Altcoin for online casino
deposits and withdrawals is the degree of volatility associated with
cryptocurrencies.

Another disadvantage of using cryptocurrency for your online casino payments is
the issue of scalability. The number of transactions being conducted on these
networks is far higher than what was envisioned initially.

There has been too much negativity associated with cryptocurrency owing to its
anonymity and volatility over the years. The anonymity angle especially has been
an issue because of the instant association of these payment methods with
criminal or fraudulent activities.


CONCLUSION

Bitcoin and Altcoin payments are increasingly becoming popular among online and
mobile casino fans from across the world. The security and anonymity that these
payment methods offer make them instant hits for players.

Other positive aspects that work for these methods is the speed at which
deposits and withdrawals are conducted. The deposit and withdrawal methods too
are higher for cryptocurrency payments, and that is another factor that
contributes to their popularity.

On the whole, these are payment methods worth checking out if you are looking to
deposit funds and withdraw winnings at an online casino quickly and securely,
with the guarantee of fair play.


FAQ


WHAT IS BITCOIN?

Bitcoin is a digital currency that you can use to deposit and withdraw funds at
an online casino securely, anonymously and in quick time. it is not regulated by
any government or financial institution.


WHAT IS AN ALTCOIN?

The term Altcoin is used to refer to any cryptocurrency other than Bitcoin. Some
people use this term to refer to cryptocurrencies besides Bitcoin and also
Ethereum.


IS IT SAFE TO DEPOSIT AND WITHDRAW FUNDS USING BITCOIN OR ALTCOIN?

Yes, all Bitcoin and Altcoin deposits and withdrawals are safe and 100% secure.


HOW MUCH TIME DOES IT TAKE TO MAKE A DEPOSIT WITH BITCOIN OR ONE OF THE
ALTCOINS?

All deposits using Bitcoin or any of the Altcoins are instant.


IS THERE A FEE INVOLVED FOR USING BITCOIN OR ANY OF THE ALTCOINS?

There is usually a small fee for using cryptocurrency for withdrawals at your
favourite online casino.


WHAT IS THE TIMEFRAME FOR WITHDRAWALS WITH BITCOIN OR ALTCOIN?

Bitcoin and Altcoin withdrawals are usually instant. The overall time taken for
your winnings to reach you may be tad longer than expected because of other
factors that come into play, like the pending period and the overall withdrawal
processing time.

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