Best Bitcoin Casinos in New Zealand 2021
There are many different payment methods that you will come across with online casinos in New Zealand. One of the payment methods that has become increasingly popular in recent years is Bitcoin.
This cryptocurrency is known for its security features, as well as allowing for very fast transactions. It is cheap to use and more and more online casinos are now offering this as an option. This guide will look at these payment methods, as well as the best casinos that accept Bitcoin.
- Great security [cheacklist_element]Cheap to use[/checklist_element]
- Very fast transactions
- Widely available
Bitcoin: How it works!
If you are looking at using Bitcoin to add or withdraw funds to your online casino account, here are a few things to be aware of. You need to have a crypto wallet with which you have some Bitcoin. You will then need to get the wallet address of the online casino account that you are looking to send the funds to and then conduct the transaction.
The processing will usually be pretty instant for deposits. When making withdrawals, there may be a pending period imposed by the casino operator to approve the request. After approval, the funds should process in a few minutes.
Payment procedure with Bitcoin
If you want to start using Bitcoin as a payment method at an online casino, there are a lot of security mechanisms in place thanks to the blockchain technology. Here are some steps to follow:
- Step 1: Buy Bitcoin if you do not have any
- Step 2: Open an online casino account with a platform that supports Bitcoin
- Step 3: Get the Bitcoin wallet address for your account
- Step 4: Send your preferred amount of Bitcoin to this Bitcoin address
- Step 5: Get started playing your favorite games
Bitcoin: You need this before your first payment
In order to add funds to your casino account by using Bitcoin, you need to first own some Bitcoin. There are a number of different ways that you can buy Bitcoin. The easiest way is to exchange fiat currency, like NZD for Bitcoin through an exchange such as Coinbase. This Bitcoin will then be stored on the hot wallet on your Coinbase account.
You will have a wallet address that you will give people to who you want to receive funds. If you are sending Bitcoin to another person, you will need their wallet address to conduct the transaction. Therefore, when making your Bitcoin transfer to an online casino account, you will need to know the wallet address for the target account.
Pros and Cons of Bitcoin
When it comes to any type of payment method for online casino players, there are going to be certain pros and cons attached that need to be considered. This can give you a comprehensive picture and allow you to make an informed decision as to whether or not you want to deal with a crypto casino or Bitcoin casino.
Advantages of Bitcoin
There are a number of distinct advantages that are associated with using Bitcoin as a payment method for your online casino account. Here are the standout pros:
- Extremely Secure: One of the main advantages of using Bitcoin as a payment method is that it is one of the safest ways for you to send or receive funds. This is thanks to the blockchain technology that is used. This means that once your transaction has been sent there is no way to interfere with it.
- Very fast: Bitcoin transactions are known for being very fast. A lot of the time, your deposited funds will be credited to your online casino account straight away. The same goes for withdrawals, with these transactions usually taking no longer than ten seconds.
- Cheap: While there are small fees attached to using Bitcoin as a way to transfer funds, these are extremely minimal. There will be no significant fees charged for using this as a payment method.
- Anonymous: There are many Bitcoin-only casinos now cropping up around the place these often do not require you to even create an account with the platform. You can add and withdraw funds using Bitcoin and gamble with a great level of anonymity.
Disadvantages of Bitcoin
Naturally, there are going to be a few cons associated with any type of payment method that you are using. One of the main downsides will be if you do not already own Bitcoin, as this owns an extra step into the process. With more and more online casinos now allowing this as a transaction method, there are still some major platforms that do not support Bitcoin transactions.
How long does a withdrawal with Bitcoin take?
If you are using Bitcoin to make a withdrawal, it will normally be one of the fastest ways to get your funds from the online casino. There will be those online casinos that will have a pending period before your withdrawal can process. The operator might take a day or two to accept your withdrawal request.
However, once this approval is given, you will often receive your Bitcoin payouts in just a few minutes. There might be a very small fee charged for conducting this transaction through the Bitcoin network, but sometimes the online casino will absorb this cost for you.
Top 5 Online Casinos that accept Bitcoin
There are many great online casinos that now accept Bitcoin as a payment method. They realize that people are now using other cryptocurrencies more and more these days and they want to support these preferences as it can attract a lot of new players.
When you are looking at online casinos, you want to make sure that they are safe to use, have a great selection of quality games, are easy to use, and have decent welcome offers After conducting extensive analysis, here are five of the best Bitcoin online casinos that we have come across:
Bitcoin Casino: Frequently asked & answered
When it comes to Bitcoin, there are often a lot of questions that people have because it is a relatively new way for you to send and receive funds. Here are answers to some of the most popular questions that you will come across:
More and more online casinos are now accepting Bitcoin as a way to add or withdraw funds from your account. There are still some of the bigger platforms that do not allow this as a transaction method just yet. There are some platforms that only accept Bitcoin, which are also becoming very popular.
Cryptocurrencies as a whole are becoming more and more popular across the world. While Bitcoin is the main type of cryptocurrency that you will see being supported by online casinos, other popular coins that you will come across include Ethereum, Litecoin, Bitcoin Cash, Ripple, and Dogecoin.
Naturally, there are going to be things that you have to be careful about when you are using different payment methods. With Bitcoin transactions, they cannot be reversed once they are sent. Therefore, you need to make sure you are sending funds to a reputable platform and that you are sending the funds to the correct wallet address.
When you are adding Bitcoin to your online casino account, these funds will normally be credited to your account instantly, so you can start playing for real money straight away. For withdrawals, the operator may have a pending period in which they review your payout request. Once you get approval, the payout should process in a matter of minutes.
There are some online casinos that have very strict rules when it comes to their welcome offers. Some deals will not allow you to receive the offer if you deposit via certain methods. Therefore, you will need to read the terms and conditions of a given welcome offer to make sure that Bitcoin is allowable.
Bitcoin has become a popular way to invest money in recent years. However, it is also known for being very volatile, with its price often rising and dropping rapidly. Therefore, this means that the value of your Bitcoin in your online casino account could fluctuate a lot, which is something to keep in mind.
There are some online casinos out there today that solely focus on Bitcoin as a payment method. When these platforms can have a lot of great games, there are some concerns about their security. This is because Bitcoin only casinos are not going to be licensed by any of the major gaming authorities.