With the growth of the online market have arrived all sorts of new types of digital currencies, also known as cryptocurrencies. Bitcoin was the first of these.
Some casinos are entirely Bitcoin-powered and only accept Bitcoin as currency. Others accept different currencies and allow Bitcoin as a part of them.
In either case, you’ll be getting casino bonuses in Bitcoins added to your casino bonus account. So what does this change?
Bitcoin Casinos: The Most Secure Casinos on the Internet
Thanks to the decentralized Blockchain technology that Bitcoin is based on, using a Bitcoin wallet at a Bitcoin casino has become the safest way to play online.
Not only that – Bitcoin casinos often implement extra security measures in their sites too, as using Bitcoin implies a heightened awareness of net security.
Some, for instance, allow you to check the randomly-generated algorithm behind certain card game hands, to make sure your games are fully randomized yourself.
How Much are Bitcoins Worth?
First of all, you should know that as the value of the Bitcoin has risen throughout the years, you’ll probably be given bonus money that is counted in fractions of Bitcoins.
Here are the different acronyms you’ll come across at Bitcoin casinos:
- BTC (Bitcoin)
- dBTC (10th of a Bitcoin)
- cBTC (100th)
- mBTC (1,000th)
- uBTC (10,000th)
- the Satoshi (100,000,000th)
So don’t worry if you find that your no deposit bonus money is a fraction of a Bitcoin – whole Bitcoins are worth a lot of money nowadays. You’ll see this if and when you open your own Bitcoin wallet.
How to Redeem a Bitcoin No Deposit Bonus
Bitcoin no deposit bonuses function exactly like no deposit bonuses at other casinos.
Basically, there are two types of no deposit bonuses: those for new players, and those that are spontaneous bonuses that don’t require a deposit, like free spins for instance.
In order to be eligible for a sign-up no deposit bonus, here’s what you’ll have to do:
- Create your Bitcoin wallet
- Sign up to your chosen Bitcoin casino
- Add in your personal details when prompted to do so
- Choose your payment method, if options are available
- If Bitcoin is the only method, then enter your Bitcoin wallet number
After you fulfil those steps, you should get a notification informing you that your no deposit bonus has been attributed to your account.
The Bitcoin fragments will appear in your casino bonus account. This means they are not immediately withdrawable.
Withdrawing a Bitcoin No Deposit Bonus
Unfortunately, Bitcoin casinos implement wagering requirements just like regular casinos do. This means that you have to convert your bonus Bitcoins to your regular account.
In order to do this, you’ll have to play with your total amount of bonus cash a set amount of times. If you attempt to withdraw at any moment before your wagering requirements are completed, you may see your bonus funds vanish.
Wagering requirements usually start around 20x, and can rise to around 50x. So if you have 100 uBTC in your bonus account, and your promotional offer says you’ll have to wager that amount 20x, then you’ll wager 2000 uBTC total.
Once all your cash has been converted, you’re free to withdraw your cash to your Bitcoin wallet. You’ll easily be able to find a “Withdraw” button in your user profile.