What is Bitcoin?

Edward Miller May 23, 2022

Bitcoin is the original cryptocurrency. It launched back in 2009 and was, at the time, worth less than a cent. Today, one BTC is worth somewhere in the five-digit figures.

what is bitcoin

Online casino players love Bitcoin because it’s an anonymous and decentralized payment system. Transactions are not processed through a bank and are instead shared on a network of Bitcoin owners called the blockchain.

Therefore, your bank account is not directly connected to any casino or third party, making it safe and anonymous. As the largest crypto, Bitcoin offers slightly longer transaction times than some other coins. However, you’ll find free BTC deposits and withdrawals at almost every single crypto casino.

Bitcoin information:

Name:Bitcoin (BTC)
Max number of coins:21 million
Creator:Satoshi Nakamoto

How to buy Bitcoin

You’ll need to purchase Bitcoin before you can deposit it at a casino, although some rare crypto casinos let you buy bitcoin directly from their sites.

Outside of those few casinos, the easiest way to buy Bitcoin is through an exchange or broker. You pay for your Bitcoin using a common bank card or e-wallet. From there, you can keep your BTC in the exchange’s wallet to send to the casino, or you can create a private, independent wallet and keep them there.

Some crypto casinos have an agreement with the exchanges for 1-click transfers. If you have your own wallet, you’ll need to manually enter your wallet’s address each time you want to deposit.

Bitcoin casinos: What’s the difference?

Bitcoin casinos offer three key advantages over traditional online casinos.

Firstly, they offer free, anonymous, and secure transactions. If a crypto casino does charge you, it goes against the spirit of the crypto ideal, and we’ll be sure to let you know about it.

Bitcoin casinos also very rarely ask you for many details beyond a username and password. If you’re used to highly regulated online casinos that ask for the date of birth of the cat that lived at your previous address, you can probably see the attraction!

Secondly, crypto casinos feature massive bonus potential. Because they aren’t highly regulated all over the world just yet, crypto casinos are allowed to offer all sorts of incredibly high-value welcome bonuses for BTC players. Keep an eye out for those in our reviews!

Crypto casinos can also use the blockchain to create all sorts of unique betting games, including market betting, smart contract games, and “provably fair” games where every bet is logged on the chain. Exciting!

how to play with bitcoin

Bitcoin casino gaming experience

Bitcoin casinos let you play their games using Bitcoin. If you’re a low-stakes player, it can be weird at first to see bets in 0.0001 BTC.

Every Bitcoin casino we recommend boasts a good selection of games from globally recognized providers, including slots and table games. The majority of them also feature a live casino selection with HD streamed games and live dealers.

When you win, you can withdraw your Bitcoins to your wallet and do what you want with them from there, including exchanging them for fiat cash like USD or EUR or even other cryptos, buying something else, or leaving them as an investment. It’s all up to you!

All of our top sites are certified safe and secure for international players. Our experts go through every crypto casino in fine detail, looking at bonuses, customer service, reputation, range of games and cryptos, and more. Check out reviews and find your new favorite!

Bitcoin FAQ

How do you exchange Bitcoins for USD or EUR?

You can do this in the same place you bought the Bitcoin, usually an exchange or broker site. A few crypto casinos will let you do this through their sites, too. 

Is Bitcoin a safe investment?

Not really. Some people will tell you it is, but the value is volatile and could easily go down as much as up. There’s money to be made for sure, but you could lose out, too.


Edward Miller
Edward Miller
Author since April 26, 2022
Long-time crypto enthusiast with a knack for gambling. Holds a PhD in Mathematics of Information from the University of Cambridge. Loves roulette, blackjack and old school slot machines. Investing time and money in cryptocurrencies including Bitcoin, Ethereum, Dogecoin and more.