Since their launch several years ago, crypto-currencies have been used in ever wider areas, including online casinos. However, this specific method of payment reveals certain characteristics of its own. What is crypto currency? What is a bitcoin casino? How to properly use its BTCs in an online casino? Thanks to this article, you will learn everything you need to know about Bitcoins and will be able to play your real money at your favorite French casinos.
TOP Bitcoin Casinos 2020 – French Casinos
Historical point: learn more about Bitcoin (BTC) before you play
Bitcoin is a crypto currency created by an anonymous person calling himself Satoshi Nakamoto in 2008, following the global financial crisis. Its purpose at the time of its creation was to fight against the banks’ stranglehold on global finance by providing secure peer-to-peer virtual currency exchange systems. The creation of Bitcoin was accompanied by the creation of the blockchain (or chain of blocks in French), which is a register, which can be freely consulted and which lists all the transactions that have been carried out. Bitcoin and the blockchain thus solve the crucial problem of trust. They are servers that validate the transactions thanks to their computing power. Thus, Bitcoin is a decentralized currency that works with the computing power provided by trusted computers owned by individuals around the world. Its dazzling success has led to the creation of many other well-known competing crypto-currency projects such as Ethereum, Ripple or Litecoin and is subject to considerable speculation about its value. This payment method is now used in the world of online casino.
Using the payment method at a Bitcoin online casino
Now that you know more about Bitcoin, it’s natural to wonder about its use in your online casino games. In this section we will explain why this specific payment method is possible and does not present any more risk than a traditional payment method. If you have any doubts, you can also contact your local online casino customer service, who will be happy to help you.
Should we get into online gambling with the BTC?
Is it safe to play Bitcoins at an online casino that accepts them as a deposit or payment method? As in any gambling, betting your own money is always risky, which is why it is imperative to be in control of your gambling and your investment, even if it means asking for help to do so. Reliable online casinos that accept Bitcoin have a special page for players on how to play responsibly and what to do if you run into difficulties. If you are aware of this, playing Bitcoin at an online casino is no more dangerous than playing with a player account credited by credit card, bank transfer or e-wallet.
How do you use your Bitcoins to play at an online casino?
Now let’s find out how to use this crypto currency to top up your player account or collect your winnings. Once again, online casinos that accept Bitcoin do not impose any special rules on the use of this payment method, although they do reserve the right to condition the use of this payment method to a minimum amount, as with other deposit or withdrawal methods.
There are two steps to follow before starting your French casino experience:
- You need to create an account on an e-wallet (electronic wallet in French) on which you will be able to buy Bitcoins. The best known today is Bitcoin.org but there are lots of others with very good reputations.
- Then, you will be able to acquire BTCs on a secure platform such as Coinbase. Note that Coinbase can also be used as a virtual portfolio.
Deposit Bitcoin money into an online casino player account
If you are in the habit of crediting your personal space with traditional payment methods, be aware that using bitcoins (or any other crypto currency) will not differ. You’ll need to retrieve the bitcoin address of the casino which looks like this: 1GyWgXtkVG5gsm9Ym1rkHoJHAftmPnTHQj, a long series of numbers and letters. The casino will also be able to provide you with a QR code, which is still more convenient. All you have to do is send the desired amount.
You will receive a real-time record of your transaction, just like any other deposit. Please note, however, that some online casinos are keen to add extra security to Bitcoin transactions, such as bank or identity verification, which may extend the time it takes to process the transaction.
Withdrawing Bitcoin winnings at an online casino
After enjoying the best sites gathered on our various reviews and top bitcoin casino reviews, it’s time to collect your winnings. As long as you have verified that the chosen site accepts Bitcoin withdrawals, you can choose this withdrawal method. Here, just as with your deposit, you will enter your own Bitcoin address for your winnings to be sent to.
Please note: in all cases, it is rigorously not recommended to go through a third party site that would propose to complete the transaction with your personal information, even if the latter would make you benefit from a tempting offer (almost too tempting to be honest). If the online casino accepts the use of a crypto currency such as Bitcoin, they will be able to handle the entire transaction.
Are there any fees for using this payment method at a Bitcoin Casino?
We have found that some sites may sometimes charge fees for both the withdrawal of winnings and the deposit of BTC money at an online casino, although these are less common than the previous ones. Therefore, please be sure to read the terms and conditions associated with this type of transaction.
What are the fees for depositing money in BTC at an online casino?
Each online casino is free to apply the fees it wishes in each of the deposit methods offered, including Bitcoin. However, in the face of increasing competition, more and more sites are avoiding the fees associated with a deposit of money, all payment methods combined, otherwise players will flee to another platform that will not tax deposits to a player account.
What are the fees for a withdrawal of BTC winnings at an online casino?
That’s the rub. In contrast to depositing money in Bitcoin at a virtual casino, some sites charge a fee for any withdrawal in crypto currency (such as Bitcoin). As the online casino has the right to apply the fees of its choice, we invite you to select this type of site with the assurance of a free withdrawal as well as a free deposit. For simplicity, pass your way in front of an online casino that would condition Bitcoin deposits and/or withdrawals to additional fees, to the benefit of one of its competitors.
The list of the best casinos accepting Bitcoin
Following the speculative bubble of December 2017, which saw the price of Bitcoin rise to more than €10,000 per unit, everyone must have heard about it. You don’t need to have a whole Bitcoin, and therefore you don’t need to deposit such a large sum to benefit from it, as it is broken down into fractions, up to 0.00000001 Bitcoin. This is then called 1 Satoshi. Bitcoin is not just a speculative value. It is beginning to become a very serious alternative payment method. No more need to use your credit card, no more worrying about which currency is accepted or whether you will have to withdraw your money in dollars. Bitcoin can now be used by online casino players for all games. The first step for this is to have an e-wallet that accepts Bitcoin. It is very easy to create one, to do so, visit the Coinbase site. Then you will need to convert your euros into Bitcoin and then transfer your Bitcoin to the casino. Then use this crypto and your payment portfolios to make your first deposit safely.
There are very few online casinos that accept Bitcoin as a means of online payment, although the number is growing exponentially. Unfortunately, none in France allow Bitcoin in casinos. In fact, online casinos are regulated by the Autorité de Régulation des Jeux en Ligne (ARJEL). It is this body that gives the licenses to operate in the hexagon. However, Bitcoin is not allowed in casinos, as it is considered to be a non-transparent means of payment that allows a certain discretion in transactions.
However, there are casinos that offer the possibility of using Bitcoin as a means of payment abroad. If you live outside of France or have the possibility to open an account abroad, you can therefore have Bitcoin casinos. Similarly, casinos centered around crypto currencies and that offer the possibility to bet directly from Bitcoin to roulette exist. These casinos offer these methods to meet the privacy concerns of some customers.
Bitcoin Casino : Pros and Cons
The advantages of using Bitcoin are many. We can cite the following:
- Independence. Bitcoin is not dependent on any financial institution.
- Freedom. You can withdraw and deposit your Bitcoin to your casino account without going through the banking system.
- Anonymization. Having a Bitcoin e-wallet to play at the casino allows you maximum discretion.
- Financial health. Gambling is frowned upon by banks. If you want to get credit for your home, for example, gambling can be a negative thing. By playing at the casino with Bitcoin, you make sure you do so with peace of mind.
- Very low transfer fees.
- Unparalleled speed of processing, including weekends and holidays.
- Exclusive free bonuses.
However, Bitcoin suffers from two major disadvantages:
- Complicated to understand if we find out.
- Its volatility. The value of Bitcoin in euros can vary by 10% in one day. If you buy Bitcoin when it is rising, you can win money at the casino but suffer a drop in the Euro price which cancels out your winnings, and vice versa. This is a risk you have to accept.
What about security when using Bitcoin at an online casino?
As you probably already know, the main criterion for choosing the right online casino with Bitcoin is its reliability. And by reliability we mean speed of payment, but also and above all security of the transactions.
Never use casino sites that don’t show a white paw, and that don’t guarantee their transactions. Customer reviews or our detailed guides to the various online casinos that accept Bitcoin give good indications of a site’s reliability. In addition, you can also check that the online casino securely encrypts its data and is easily reachable in case of malfunction. After these routine checks, if the selected online casino accepts Bitcoin as a payment method, it is as safe to use it as any other available deposit or withdrawal method.
Bitcoin Deposit Bonuses
More and more platforms are offering bonuses reserved for those who deposit Bitcoin at their casino. Our prognosis is that Bitcoin will become more and more popular and its value will continue to increase over the long term. Casinos want to be at the forefront of cryptomoney and therefore offer more and more Bitcoin casino bonuses. In addition to these Bitcoin casino bonuses, you will benefit from an increase in the value of the Euro in the long run. A kind of second bonus in the long run.
What games are available at an online casino that accepts Bitcoin?
In our experience, access to some online casino gaming tables is not conditional on the acceptance of Bitcoin as a payment method. In other words, online casinos may refuse to accept crypto currency in their financial services, but if they do accept it, they have no interest in restricting play at certain tables.
On the other hand, and this happens regularly, French and international online casino gaming platforms can combine promotional offers to boost the odds of winning on certain types of games and to enhance a deposit. Thus, crediting your Bitcoin player account by playing on a specific table increases the chances of winning the game.
Our opinion on Bitcoin as a payment method at an online casino
Although still one of the still discrete types of payments, Bitcoin is beginning to be widely accepted by online casinos for depositing money into a player account, but also for withdrawing winnings. As reliable as more traditional transactions, the use of BTC provides an opportunity to try gambling online, keeping in mind the potential risks associated with this type of entertainment. In addition, remember to check the overall reliability of an online casino before using it for payment.
Once these checks are completed, you can enjoy the thrills and adrenaline rushes of every game of blackjack, roulette, poker or online slots through virtual casinos that accept Bitcoin. Sign up in just a few clicks and let the chance to join in your strategy to try and hit the jackpot!