Players from the United States & Australia now have very limited options to fund their casino accounts, luckily it's a different story if you're using Bitcoin.
Casinowhizz.com provides an in-depth guide about the various Bitcoin wallets be it from PC desktops or mobile phones, their pros and cons as well as deposits and cash outs. If you like gambling at online casinos using Bitcoin hopefully it addresses all your Bitcoin needs.
The casino sites that accept Bitcoin deposits are MYB Casino, Sloto Cash, Vegas Crest, Bitstarz and Casino Extreme. If you deposit any bitcoins to your casino account you can either wage play and win in bitcoins or convert U.S or Australian dollars automatically (Also Euros with Bitstarz Casino). You can start playing you favorite casino game right away. Should you request a BTC withdrawal, the dollars you've won will be converted to the current Bitcoin value-the coins you've won will then be transferred to the Bitcoin address you specified.
A Guide To Gambling At Bitcoin Casinos
The Full Bitcoin Casino Guide
Crypto currency can now be used to gamble online. This is why a Bitcoin wallet is a must, the good news is that there’s a bunch of wallets available to USA and Aussie customers. Although it sounds easy, choosing the best Bitcoin wallet is no walk in the park; it must ensure that the your coins are safe, must afford complete anonymity, cash outs must be fast and it must be open 24/7.
There are two different Bitcoin wallets: The first one affords the user absolute control. The second one is where a third party company is in control of your bitcoins. Essentially both Bitcoin wallets are good but each one has its pros and cons. The best wallets are the ones that gives the gambler complete control over their bitcoins.
Which Wallets Are The Best Bitcoin Wallets For USA and Australian Players?
Online Bitcoin wallets regulated by the U.S government are Circle and Coinbase. The problem with these wallets is that your account can be closed/forfeited if the government detects you’ve been using it to wager at online casinos.
Online gambling is still a grey area in America, this is why it’s best to choose a wallet that does not require a KYC/AML procedure the best way is using your own wallet kept on your own device, desktop, tablet or smartphone. If you’re wondering why it allows you to gamble at sites without disclosing your identity. The three main wallets are Desktop, Mobile and Web. Since no third party censors your transactions they’re perfect for gambling online.
Desktop wallets are okay but they’re not the best by a long shot because they’re prone to malware. They’re good if you have large amounts of bitcoins, we advise you to use it with caution.
Electrum Bitcoin Wallet (Free)
Electrum is hands down the most popular bitcoin wallet for desktop junkies. Funds can be recovered through a secret phrase and your private keys are encrypted. In addition it offers No Lock-In, Proof Checking, Cold Storage, Add-Ons, Instant On and there are no downtimes which is great.
The only downside about Electrum is that it doesn’t have the easiest user interface, its verification process is extensive which makes it convenient to the tech-savvy bitcoin wallet user.
Players from the United States will be happy to know that Coinbase offers them the fastest and most convenient way to purchase bitcoins. Bitcoins can be bought through a debit or credit card, keep in mind that Coinbase charges a transaction fee of 3.99%.
You can also connect your Coinbase wallet to your bank account the fee that’s normally charged is 1.49% which is significantly lower than that of a credit card.
- Large amount of bitcoins can be purchased
- First time buyers can get easy access
- Credit/Debit card users have an ‘Instant Buy’ option
- Withdrawals are cleared within minutes
- Bitcoins purchased through bank transfer can take 5 days
- Online gambling might pose a problem because Coinbase keeps track of how you spend your coins
Players from the United States can buy bitcoins through Coinmama with a credit or debit card. There’s a slight caveat though on every purchase a fee of 6% is charged. Should you buy less then $150 worth of bitcoins it’s not necessary to verify your identity making it a very convenient payment option for U.S players.
- Many countries accept it
- Credit card users can buy a substantial amount of bitcoins
- Broker has a proven track record
- Withdrawals are almost instant
- Debit/credit card amounts above $150 incur a fee of 6%
BitQuick is one the fastest ways for bitcoin casino players from America to buy bitcoins. A wide range of offers are available at various prices, simply visit your bank by making a cash deposit into the seller’s account. It takes up to an hour before you receive your bitcoins.
- Excellent way to purchase bitcoins without hassle
- Safer than other cash payment methods since cash is paid to a bank teller
- Fast withdrawal timeframe
- Buyers pay a 2% handling fee
- Prices are volatile, can be higher or lower than the current Bitcoin price
LocalBitcoins is an escrow service that matches bitcoin buyers and sellers. A cash deposit is the most common form of payment. Users can state their payment option of choice.
Thanks to LocalBitcoins, Bitcoins are bought via an in-person meeting. It doesn’t matter from which country you’re from it’s considered one of the fastest and most private ways to buy bitcoins.
- Private, fast and convenient
- No personal data is required thanks to in-person trades
- A cash deposit makes bitcoin purchases quickly
- Prone to scams
- Difficult to buy large Bitcoin amounts
- Prices tend to be higher than regular exchanges
Based in New York, Gemini is a Bitcoin exchange company that services residents from the United States (most States), Canada, Japan, Singapore and South Korea. Players can transfer cash through wire transfer, ACH transfer or SEPA.
- Regulated exchange that’s trustworthy
- Instant bitcoins purchase (can’t withdraw)
- Very low fees
- New buyers might get confused
- Not available to all U.S States
Bitstamp is hailed as the world’s best and largest Bitcoin exchange. Players can deposit through bank, international bank wire, SEPA and credit cards
- Established a proven track record
- Fees can be as low as 0.1%
- Large variety of deposit and cash out methods
- Fair market rates offered
- Wide range of altcoins
- Cash outs cleared within 24 hours
- Been hacked before, funds should be stored for limited periods only
- 8% Fee charged for small credit card purchases
itBit carries a legitimate license with the New York State Department of Financial Services. Customers can buy large amounts of Bitcoin (100 BTC plus) because it operates a global OTC trading desk. It services all the American states except Texas.
- Large amounts of bitcoins can be bought thanks to the OTC trading desk
- Liquidity enables a free market rate
- Very low fees that range from 0% to 0.2%
- OTC brokering service fee is 0.1%
- Payment methods are restricted
- Focuses mainly on traders
- Privacy is not guaranteed because ID verification is required (not good for online gambling)
Kraken has been in operation since 2013 making it the biggest Euro Bitcoin exchange. It supports players from the United States, Canada, Japan and from across the European continent. Bitcoins can be purchased via SEPA, bank wire, SWIFT and bank deposit (Japanese customers only).
- Trusted exchange that’s financially capable
- Service fees range from 0.25% to 0.1%
- Security very good
- No privacy ID verification needed (not good for gambling online)
- Customer support not the best due to huge user volume
Bitifinex is one of the largest Hong Kong Bitcoin exchanges in the world. Accounts can only be funded through bank wire while transaction fees can be as low as 0.1%.
Despite its solid reputation the company was hacked in August 2016 which resulted in users losing 30% of their funds. At this stage we won’t recommend it because the safety of your funds is not guaranteed.
- Low cash out fees
- Here you can buy large amount of bitcoins
- Supports altcoins
- Cash outs are handled within 24 hours
- Not secure
- Only one payment option
Based in Switzerland Xapo operates on a global Bitcoin stage. Users from all corners of the globe can purchase bitcoins through SWIFT transfer. In general fees are low but SWIFT transfers can incur huge fees. Players can apply for a Bitcoin-funded debit card which can be used to gamble online.
- Incorporated a vaulting service with a security invest of $20 million
- Easy to use
- Highly secure and low withdrawal fees charged
- Cash outs are cleared within minutes
- Has a wallet service that should not be used to store bitcoins
- ID verification needed
Mobile Wallets (Best of the lot)
A mobile wallet has camera features that enables the user to scan the QR codes. As a result it makes it very easy for Bitcoin casino players to deposit and withdraw their funds without jotting down or copying the bitcoin address.
Smartphone wallets are safer too, the possibility of you having a virus or keylogger on your phone is pretty remote too. Bottom line is the security risk is not near as high as that of a desktop computer’s.
iPhone Wallets (AirBitz iTunes)
AirBitz is a widely used Bitcoin wallet that’s tailor made for iPhones. It offers the user encrypted and automated backups, personal information is encrypted and a decentralized user interface. Because it is easy to use it’s fast becoming one of the most popular bitcoin wallets to players who enjoy playing live dealer casino games, slots, poker, sports betting and progressive jackpots.
Android Wallets (Mycelium Google Play)
Mycelium is the premier bitcoin wallet for Android phone users. Within the apps it allows the user to set up Bit ID, HD, Single Address, Hardware and Watch only accounts.
Another top feature about Mycelium is that it incorporates the service of third parties like Coinapult, Trezor/Ledger, Cashila and Glidera-they permit users to purchase or sell bitcoin, pay their bills and they’re hedged against other fiat currencies and U.S dollar.
Breadwallet iTunes (Free)
This is the most popular wallet for iPhone users. It’s an independent bitcoin client that’s not dependent on a server, as such it cannot be hacked by cyber thieves or be shut down. Players have access to their funds at all times and they have direct contact with the Bitcoin network.
Users can connect directly to the Bitcoin network because they run in SPV mode which allows for safer and faster transactions. The sole purpose of the Breadwallet is to ensure that users aren’t exploited by malware, theft, keychain, app sandboxing and code signatures. Research indicates that users now prefer to have Breadwallet on their iPhones.
Copay Google Play (Free)
Copay takes security to a new level since it protects a user’s funds with multiple signatures and manages shared funds between colleagues. Despite it being fitted out with more advanced features it’s easy to use making it ideal for users who just started using Bitcoin.
Windows Phone Wallets (Copay Windows)
When it comes to the Microsoft App Store the Copay Bitcoin Wallet is the only one that is available. It’s convenient because it can be used for managing funds with colleagues, alternative projects, it’s secure and it comes with a hierarchical deterministic address generation.
If ever there’s a popular Bitcoin wallet this is it. Suppose one can’t argue with more than 7 million web wallet users. They like it because it’s easy to use, has incredible features that’s completely user-friendly with a strong emphasis on security and anonymity.
Your account stays under lock and key at all times thanks to a 2-factor authentication process that’s handled through an SMS (short message service) and Google Authenticator plus a key encryption.
Additional features are hierarchical deterministic address architecture, client side encryption, transaction free adjustment, login IP restriction, interoperability, second password protection, more than 25 languages are supported and supports 20 conversion rates.
Web wallets is another Bitcoin wallet used by online bitcoin casino players across the globe. The reason why it is a winner it can be accessed from mobile phones, tablets and from PCs. Its service is quite similar to that of ‘Internet Banking’ which explains its popularity.