UK Casino Sites Accepting Bitcoin 2020
Bitcoin is the most popular digital currency in the world. It is what is known as a cryptocurrency. Unlike the £ or $, there is no central bank that controls the value of bitcoin. The market sets the value of the currency. The more in demand Bitcoin is, the more it is worth. You have probably news items where people have become millionaires on the back of Bitcoin simply because they invested a couple of hundred pounds on it a few years back.
We are not really going to go into the technical stuff related to Bitcoin. Since you have landed on this page about Bitcoin casinos, we have no doubt you know that already. Instead, you want to know what Bitcoin casinos bring to the table. We are going to assume that you already have a digital wallet. If you have no idea what we are talking about, go and research the basics behind Bitcoin and come back.
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What Are Bitcoin Gambling Sites?
Bitcoin gambling sites are casinos and betting sites that allow you to deposit money and withdraw money from your account in bitcoin. In most cases, the online gambling site will operate solely in bitcoin. It is rare that they will offer other deposit methods.
ou may be able to withdraw in a different currency, but you generally can’t deposit and play with that currency. There are some bitcoin gambling sites which are multi-currency, but most at the moment tend to go down one route or the other. It is likely this will change in the future.
To get started with Bitcoin gambling sites in the UK, you need to have some bitcoins. Thankfully, this should be very easy to buy. You can ‘mine’ it (look it up if you have no idea what we are talking about), but the easiest option will be to buy it. Once you have some bitcoin in a digital wallet, you will be able to deposit it into your casino/betting account.
Probably the biggest benefit of bitcoin casinos and betting sites is that they are somewhat anonymous. When you open an account, it is unlikely that you will be asked for that much in the way of details.
Since you will be depositing cash from a digital wallet as opposed to your bank account or debit card, you will not have to supply that information either. Some people enjoy this anonymity. It is unlikely that there will be any transaction fees related to depositing or withdrawing the money from your account either. When it comes to UK gambling sites, there are very few, if any, transaction fees involved anyway.
You do have to remember that the price of bitcoin can be very volatile. There have been some events that have sent the value of bitcoin plummeting in mere hours. It is one of the downsides of it being a decentralised currency. It is likely that the value of the currency will recover, but you do need to be aware that the value of the money you have sitting in your account may change. Remember; the value may go up too! This means that you could make some money. Well, you will make some money if you sell the Bitcoin on.
How Do You Find a Quality UK Bitcoin Casino?
Finding a Bitcoin casino or betting site is much the same as finding a traditional one. You want to choose somewhere that has a good range of games available. You want to find somewhere that makes it easy to deposit and withdraw money from your account. If they have mobile gambling options, then that is going to be even better. We have put together a few guides to choosing a quality Bitcoin casino elsewhere on this site.
The thing that you really need to think about, however, is the fact that because Bitcoin is so easy to deal with, and so easy to ‘steal’, there are a few less-than-reputable operations out there. When you are searching for a Bitcoin casino, we suggest that you only work with those registered with a reputable gambling commission. If they are not, you won’t be able to trust them fully. Finding quality Bitcoin casinos is hard.
This is because not a lot of casinos have embraced the currency yet. This is mainly due to the inherent volatility of the bitcoin currency. The value of a bitcoin could, feasibly, lose hundreds of dollars overnight. Casinos really do not like losing money! Thankfully, there are a few quality bitcoin casino options around. Make sure you check out the list the team here at All Gambling Sites have put together for you!
What Are The 5 Most Popular Cryptocurrencies For Gambling Online?
- Bitcoin (BTC)
- Lightcoin (LTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Tether (USDT)