How To Withdraw Your Winnings In Bitcoins At Online Casinos?

Bitcoin withdrawal

Bitcoin withdrawals at online casinos are popular at online casinos as is Bitcoin deposits. Using Bitcoin cryptocurrencies at online or mobile casinos is now more efficient than any other deposit method. Earlier you had the choice to only make a real money deposits with Bitcoins at mobile casinos to play real money pokies and other casino games. Now the scenario is that most of the mobile or online casinos are now offering bitcoin withdrawals.

As cryptocurrency does not have a central bank or single administrator and can be sent from user to user on the Bitcoin peer to peer platform. Transactions using Bitcoin are also completely anonymous and absolutely free!

The anonymity is the due to the making and process of bitcoin which is a data block that is constructed through an extraordinary digital process.

Advantages of using Bitcoins at online casinos

1. Better than other currencies

Scarcity and rarity cause the value of currency to sky rocket. Bitcoin performs better than gold and fiat currencies because of its limited supply. Bitcoin is a cryptocurrency that is portable, durable, secure, divisible, and intelligent.

Bitcoin also has value because people have decided that it’s an acceptable form of currency to trade for goods and services. The math is simple really, the more organizations and companies that accept bitcoin as a form of currency, the more valuable it will become. Companies such as DellMicrosoftAmazon and even Victoria’s Secret have reaped the benefits of accepting Bitcoin as a currency.

2. Peer to Peer Platform and is secure

When talking about finances, one always want to be assured that your well earned dollars are safe and secure. Well look no further – Bitcoin is an extremely secure wallet. Any bitcoin transaction whether you want to deposit bitcoin or make bitcoin withdrawals takes place on a peer to peer platform. This means that there are no third parties involved and transactions occur directly between you and the online casino where you are using this as a transaction.

3. Transparent and Anonymous 

Bitcoin as a cryptocurrency is said to be completely anonymous and transparent at the same time. All bitcoin transactions are publicly listed, but not to fear there is no personal information or data attached to any Bitcoin transaction! There is a transaction code that is only known by the sender and the receiver of the bitcoin. This means there is complete transparency between the sender and the receiver and no one else! In other terms there is no hand of any bank or middle man and its just you and your winnings.

4. It’s free

Moving your money around with more traditional methods, can not only be time consuming but costly as well, due to exponential costs and hidden fees. However, thanks to the cyber universe and the digital nature of bitcoin there is absolutely no need for banks. So, transactions either have a negligible fee or are completely free.

5. No Withdrawal Fees 

There are NO withdrawal fees when using Bitcoin for withdrawals! All you need is to initiate a withdrawal of your winnings and get going to get Bitcoins winnings in your wallet.

6. It’s Instant 

Bitcoins intrinsic nature allows withdrawals and deposits to occur much faster than any other more traditional payment method. When using Bitcoin, your funds are instantly available in your account!

You can use Australian popular Bitcoin wallet like Coinjar to store your bitcoins. Simply sign up and you instantly have an external wallet address to receive your funds or to even make a bitcoin deposit in your online casino account. As said above when you cashout your bitcoin there are NO fees! After the funds are processed then it is instantly available on your bitcoin wallet. Then you can either deposit your funds to your personal bank account or spend it straight from your bitcoin wallet.

How to get Bitcoin to play pokies?

Bitcoins on mobile
You can even buy bitcoins from your mobile and store in mobile wallet

 Bitcoins wallets store your BTC currency in digital form and you need to first buy or get BTC from a certain Bitcoin exchange to store them in your BTC wallet.

There are many reputable bitcoin exchanges in Australia and setting up an account is very straightforward. Most will ask for a few forms of identification but once you are set up you can buy and sell bitcoins with just a few clicks. Some even offer setting up regular purchases. Here are a few of the larger exchanges. You can get Bitcoins from BitCoin Australia, CoinJar, CoinLoft and CoinTree

Bitcoin can be bought instantly with your credit/debit card or via bank transfer through a regulated exchange. 

Once you purchase the bitcoins using Australian dollars they will become available in your account for you to send elsewhere. As with real money, it’s important to get a good wallet.

Securing your wallet is the most important aspect to owning bitcoins, and it is recommended not to keep your coins on an exchange. There are several wallet options you may consider, depending on the level of your investment.

For small amounts, using a mobile app such as Mycelium (Android) or Xapo (iPhone) stores the private keys to your funds on your phone. Typing in long bitcoin addresses when you want to send payments is inconvenient so most wallets use scannable QR codes to send and receive. You can also store your bitcoins on a laptop or computer using software like Bitcoin Core, with the added benefit of running your own node to contribute to the security of the network.

For larger amounts, you’ll want even higher levels of security by using a ‘hardware wallet’ such as Trezor. While expensive, these protect your bitcoins through passphrases and only ever connect to the Internet securely through a USB port.

How to withdraw your winnings in Bitcoins at online casinos?

Bitcoin withdrawals
Bitcoin withdrawals at Play Croco Casino. Minimum is $100 and maximum is $2500

Once you have created your bitcoin wallet, it’s time to withdraw those winnings:

  • All you need is to access the casino cashier at the online or mobile casino site
  • Review your available withdrawal amount.
  • Select “Bitcoin” and choose the desired withdrawal amount (min. amount is $100).
  • In your bitcoin wallet click on “Everyday Bitcoin” and then press “show address”. You will be shown a crypto address.
  • Enter the crypto address (btc address) from your bitcoin wallet into the cashier withdrawal section “bitcoin address”.
  • Once you have entered your bitcoin address, you then need to click on “Request Payout”.
  • You then sit back and relax while watching your payout come your way!

Besides this on the online casino banking page you will find list of other methods of deposits and withdrawals. Moreover if you have any questions or need any assistance, contact the online casino customer support by live chat, email or call.

Before signing up at Bitcoin casinos you should check the following:

  • Bitcoin casinos should be licensed and regulated by authentic gambling commission.
  • The casino should have a provably fair system, and/or uses games from reputable traditional casinos. A provably fair system uses cryptographic techniques to determine the authenticity of a roll and ensure that neither the game, nor the player knows the outcome of a roll prior to the bet.
  • Bitcoin casinos should offer great promotional offers and BTC bonuses.
  • The game play and interface should be user-friendly and can be played with various devices like mobile and tablet.

Playing at Bitcoin casinos gives much joy as you can make can deposit and withdraw anonymously without the need for any third parties or middle men. Also you can play with high or low credit according to your budget in a fast deposit and withdrawal environment. Moreover, when making cashouts, there is no need for any ID proof and with loads of BTC bonuses at Bitcoin casinos greater chance to make some wins when playing slot games. With 24.7 help support Bitcoin casinos are now much on demand.

Note that there are bitcoin online casinos that only allow Bitcoin deposits and withdrawals and then there are hybrid online casinos . You can choose to play at Hybrid online casinos with bitcoins that allows you to fund your online casino account  with AUD as well as BTC.  Note that casinos with bitcoins which don’t integrate fiat payments can have a decreased number of players. It may happen as there are players still skeptical about cryptocurrencies and ready to punt only using the traditional means of payment.

About the author

Kamal Kaur