Bitcoin Casino Slots
Bitcoin slots or as you call pokies are those games which you can play at casinos offering Bitcoin as deposit and withdrawal mode. Bitcoins first appeared on the scene in 2009 and since then thousands of businesses have started to accept the currency for all manner of services, including online pokies or casinos.
There are many benefits associated with playing online pokies with bitcoin, but many players find it hard to understand how this digital currency works.
Unlike traditional currencies like the dollar, euro and pound, Bit coin isn’t managed by a central bank and it functions within a network of computers that regulate its production and value.
Bitcoin Slots or Pokies and where to play them
Like in any other online casino Bitcoin casino offers various types of pokies to play like
- 3- reel classics
- Multi-line pokies
- Bonus feature pokies
- Video pokies
- Progressive jackpots
So you would find almost every kind of pokies available at Bitcoin casinos, including some really Big progressive jackpots. You can play for free or real money that is but your choice.
Some of the pokies you can enjoy are when pigs fly; good girl bad girl; charms and clovers; dwarven gold; dragon;s myth; exclusive reels; desert drag; journey to the west; motorhead; lucky blue; lucky sweets; Aztec magic and many more.
You can also enjoy live dealer games at Bitcoin casinos like Blackjack, Roulette, Live Bitcoin baccarat or Live Bitcoin casino Hold’em
You can play such games at Intertops casino, Raging Bull casino or online casinos that accept Aussie players.
So how does Bitcoin deposit method work?
Bitcoins are transferred from one user to another through special addresses which allow for free and near-instantaneous transactions. In fact, this is one of the greatest benefits of crypto currencies compared to their fiat counterparts.
Whenever players deposit funds to play online casino games using traditional methods like debit/credit cards, e-wallets or bank transfer, there is a small transfer fee involved which is usually paid for by the casino operator. This forces casinos to offer reduced odds and less attractive promotions, as they need to ensure they have an ROI on each player that signs up. Bitcoin eliminates these costs and players can in turn benefit from better payouts.
What you need to do before using Bitcoin as deposit method at online casino
Bitcoin banking option is available to Aussies as long as they have their own Bitcoin wallet, which is needed for storing, sending and receiving coins. Using the cryptocurrency at gaming sites is very simple and takes only several minutes.
Prior to being able to deposit coins into your casino account or requesting a bitcoin withdrawal, you have to meet certain criteria.
- It is a must to create your personal Bitcoin wallet by signing up at one of the leading companies that offer this service. Coinbase, Armory and Hive are only a few options you can consider when choosing your digital wallet provider. Obviously, the wallet you’ll decide to use has to be supplied by a reputable company with experience in the field. That way you will protect your coins when you’re not using them.
- Signing up for a wallet usually takes no longer than 5 minutes because you only need to provide username, password and an e-mail address. Bitcoin wallet companies rarely will require for you to provide additional information such as personal details or credit card number.
- Once you own a wallet, you will be able to receive payments using the address provided by your wallet supplier. However, in case you want to make payments at Australian casinos, then you’ll have to top up your Bitcoin wallet first.
- Buying Bitcoins can be done in several different ways. The easiest and simplest one is to visit a Bitcoin exchange where you can enter the amount of cash you’re willing to spend on coins, type in your wallet address and select a payment method. Within minutes you’ll receive the funds on the provided address and they’ll be ready to use.
- Unlike other deposit methods that can take lots of time filling out forms and then waiting for the payment to be processed, Bitcoin deposits are done in less than 10 minutes. In order to start the deposit process you’ll have to visit the cashier while you’re logged into your casino account and then select Bitcoin as your preferred payment method. The form may vary at different Australian casino sites; nevertheless, the only required field is usually the same and that’s amount of coins you wish to transfer. The deposit screen will provide the casino’s wallet address you should use when making the payment as well as a QR code that should be scanned.
How to make a withdrawal using Bitcoin at casinos
Withdrawing in Bitcoin is as easy as depositing in the cryptocurrency. When you choose the cashing out option you’ll have to click on Bitcoin and mark it as your preferred cashout method. Some casinos for Australians won’t allow you to use the method unless you’ve used it as a deposit option before. Therefore, it’s smart to have this in mind when you’re making a payment. Once the cashing out screen is loaded, you’ll notice that this time there are two empty fields.
The first one is where you should enter the amount you want to withdraw; naturally, this amount can’t be over the actual number of coins you have on your account. The second field is where you enter you Bitcoin wallet address. The smartest thing to do that, in order to avoid making a spelling mistake, is to copy and then paste the address. Remember that, once sent, Bitcoins can’t be taken back unless the receiver agrees to send them to you.
What are the banking limits when playing Bitcoin slots
So, when talking about deposit limits, those are usually a bit higher than withdrawal limits; that’s especially noticeable in the highest transferable amount. The minimum deposit at reputable AU online casinos often varies between AU$5 and AU$20, whereas the maximum can be anything from several thousands to tens of thousands of dollars. If you’ve set personal limits, then those will apply on Bitcoin payments too.
The withdrawal maximum amount is often lower. Therefore, you should expect not to be able to request a cashout in case the total amount of coins on your account is worth less than AU$10 or AU$20. Many sites have even higher minimum cashout limits of AU$30 or AU$50. The maximum amount of cash (calculated in Bitcoin) that can be withdrawn depends on the operator’s policy; nonetheless, you’ll often see limits around AU$2,000, 10,000 and 50,000. Some AU casinos don’t have such limits, but those are hard to find.
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— Bitcoin Slots (@btcslots) August 7, 2016
What is the processing time at Bitcoin casinos
When you make a deposit you’ll see your funds transferred and uploaded in less than 10 minutes after you’ve completed the depositing process. Withdrawals, on the other hand, might be trickier in case the operator has a withdrawal pending time. In such scenarios, the pending time has to pass first and then you’ll be able to get your funds. This withdrawal pending period usually lasts between 28-72 hours and during that time you can cancel the request without any penalties. Other than that, your coins will be sent to your wallet pretty fast.
Remember casinos utilise very secure encryption mechanisms and connections to transfer your money when you do any transactions online so no need to worry as it is all safe and sound. Also do not forget to grab Bitcoin bonuses when playing pokies of your choice.