Bitcoin as a Payment Method for Australian Gamblers
To deny the popularity of cryptocurrencies today is simply pointless, and Aussie users have yonks been using Bitcoin and other crypto coins for their casino transactions. Despite the undeniable popularity of Bitcoin casinos and cryptocurrencies in general, many players still do not know what it is and how to use it. But it is such a convenient payment tool, although it requires some knowledge in this area.
It’s time to learn all about Bitcoin and how it can be used in casino transactions.
Content
What is Bitcoin?
As mentioned earlier, many users from Australia still don’t fully understand what Bitcoin and cryptocurrencies in general are. Therefore, it is worth explaining that Bitcoin is a digital currency created in 2009 by a person or group of persons under the pseudonym Satoshi Nakamoto. Bitcoin is legal and used in Oz for various online transactions, including online Bitcoin online casino transactions, by recording them on a public registry called a blockchain.
| Year of Launch | 2009 |
| Creator | Satoshi Nakamoto (pseudonym) |
| Website | www.bitcoin.org |
| Legal in Australia | Yes |
| Security Protocol | Blockchain and Cryptographic Methods |
How to Inspect Bitcoin Casinos Before Use
If you are going to play casino games using your cryptocurrency, then take your time. Before you start, check a few factors that will let you know if you should use this Bitcoin casino Australia and trust it.
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Data protection
Pay special attention to this issue, because the safety of your data and funds depends on it. Although Bitcoin transactions offer a high level of anonymity and security, if you choose an illegal, fraudulent casino, you risk losing your funds;
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Mobile adaptation
If you are going to play mobile pokies and conduct transactions from your smartphone or tablet, it is imperative that you pay attention to the mobile adaptation of your chosen casino. Find out if it is possible to use the casino’s functionality on Android or iOS, ideally in an app format or at least an grouse mobile browser version;
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Fees
This is an important criterion when choosing the best Bitcoin casino. Most casinos do not charge fees for cryptocurrency deposits and withdrawals, so Aussie players should favor these best Bitcoin casinos to avoid overpaying;
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Reputation
Even if at first glance you think all of the above factors are fine, check out the Bitcoin casino reviews on any reputable user site. Read reviews and feedback from players who have already used the services of this casino and given their honest assessment.
What Should I Do First to Make a Payment?
Australian players can experience real money pokies, blending fun gameplay with the chance to win real rewards. It is important to realize that every Bitcoin casino requires registration in order to be able to make payments and use the rest of the functionality. In general, the registration process is identical almost everywhere. Some sites require more information and some require less, but almost everywhere you will need to provide at least your phone number, email, and password. After that, you can proceed to your first deposit. By the way, best Australian online pokies offer a no deposit bonus for new players.
Top-up using Bitcoin
Making a deposit is not a hard yakka at all, even for a beginner. Just follow the clear instructions and you will succeed.
- Once you have registered successfully, you must go through the account verification procedure, if required. Usually, no verification is required to make a deposit, but you may be asked to verify your email and/or phone number;
- After that, you need to find and open the tab on the online casino Bitcoin website that is responsible for financial transactions. It is usually located in the top menu;
- When the payments menu opens, select the deposit option and choose a cryptocurrency;
- Among the other cryptocurrencies available, choose Bitcoin;
- Enter the amount of moolah you want to deposit. Pay attention to the minimum and maximum limits set by the Bitcoin casino;
- You will be provided with a unique crypto wallet address to which you need to send the funds;
- Now you need to go to your Bitcoin wallet, select the “Send” option, and enter the Bitcoin casino AUS wallet address and the deposit amount;
- Check that the data entered is correct and after confirmation, the funds will be sent to the casino. Deposits are usually credited to your account within a few minutes.
Fund your account and take a spin on Australia’s top online pokies:
- Piggy Bank;
- Elephant King;
- Kanga Cash;
- Steam Tower;
- Panther Moon;
- Ghostbusters;
- Dead or Alive;
- Crown of Egypt;
- Golden Goddess;
- Immortal Romance;
- Sticky Bandits.
Cash-out using Bitcoin
Bitcoin can be used for withdrawals as well. Many Aussie Bitcoin casino sites provide this option. The procedure is no more complicated than withdrawing funds.
- If you funded your account with Australian dollars in any other way and want to withdraw your winnings in bitcoins, you need to create a wallet;
- You can choose any service you like, be it Blockchain, Coinbase, Exodus, or any other;
- While the KYC procedure is not required for deposits, it is mandatory for withdrawals. You may be asked to provide proof of identity and address, in addition to your phone number and/or email;
- Just like when depositing, locate and open the “Financial Transactions” tab;
- In the menu that appears, look for and select the withdrawal option and then select Bitcoin from the list of available methods;
- Based on the minimum and maximum limit, decide on the amount you want to withdraw;
- Enter it in the appropriate field;
- After that, enter the address of your wallet to which the funds will be credited;
- After confirming the request, the Bitcoin cash casino will start processing your withdrawal request. Processing time can take up to a couple of days, so be patient;
- Once the processing is complete, you will receive a notification that the request has been finalized and real money has been transferred from your Bitcoin casino account to your cryptocurrency wallet.
Benefits and Drawbacks of Using BTC in Australian Casinos
The use of Bitcoin in Aussie online casinos has many advantages, which is why it is so popular. Bitcoin, like cryptocurrencies in general, has downsides, so players should weigh the pros and cons to make an opinion about using Bitcoin casino.
Pros
- Anonymity – Bitcoin transactions do not require the disclosure of personal information, which protects your privacy;
- Minimal fees – In most cases, Bitcoin transaction fees are lower compared to traditional payment methods such as wire transfers or credit cards;
- Larger amounts – Best Bitcoin casinos Australia set higher deposit and withdrawal limits when using BTC, making it attractive to high rollers.
Cons
- Exchange rate volatility – The Bitcoin exchange rate can fluctuate wildly, which can lead to significant changes in the value of your funds in a short period. Supply and demand, costs, news, government regulation, and changes in the market share of competing cryptocurrencies are key factors affecting the price of BTC;
- Difficulty of use – Using cryptocurrency is different from traditional banking methods. New users of cryptocurrencies may have difficulty creating and managing Bitcoin wallets and conducting transactions.
Bitcoin vs. Traditional Payment Methods
Since earlier it was discussed about the differences between cryptocurrency and more usual payment tools, it is worth taking a closer look at their comparison.
| Payment Way | Advantage | Deposit Time | Withdrawal Time |
|---|---|---|---|
| Bitcoin | Transactions without the need to provide personal data | Instant | Up to 24 hours |
| PayPal | Utilizes advanced encryption technology and fraud protection | Up to a few minutes | From a few hours to 1-2 business days |
| Google Pay | Quick and easy transactions via Android smartphones | Instant | N/A |
| Pay by Phone | No banking details are required, and ease of payment via mobile account. | Instant | N/A |
| PayID | Use of proven banking systems | Up to a few minutes | Up to a few hours |
| Neosurf | Purchase prepaid vouchers without having to provide personal details, which also helps control costs | Instant | N/A |
Other popular payment methods are Paysafecard, Apple Pay, Visa, Trustly, Ezeewallet.
Final Verdict from the Team of Experts
To summarize everything said in this review, it is safe to say that Bitcoin is a bonzer and reliable payment instrument in the hands of the Australian gambling community, providing them with unique opportunities. The advantages of this crypto coin in every casino Bitcoin are a high level of security, the anonymity of transactions, and fast transfers. It is also impossible not to mention the low commissions and the possibility of large transactions without restrictions, which favorably distinguish this method from traditional banking instruments.
Despite the disadvantages in the form of the volatility of the Bitcoin rate, technical difficulties, and limited support from some casinos, which can be a challenge for new users of cryptocurrencies, BTC is a modern and convenient method in Bitcoin casinos Australia.
FAQ
Is the deposit procedure via Bitcoin different from the usual payment systems?
To some extent, yes, but only slightly. If, for example, in the case of a payment via bank card, you need to fill in the necessary data in the payment form and confirm the operation in the bank app, in the case of Bitcoin you need to do almost everything the same in your cryptocurrency wallet.
What are the deposit and withdrawal limits for Bitcoin?
Each casino accept Bitcoin Australia puts limits for any of the payment systems at their discretion, so it is difficult to give a definite answer here. But Bitcoin has much higher limits compared to other banking options, starting at about 14 AUD and reaching up to hundreds of thousands of Australian dollars.
Is Bitcoin usage subject to fees?
Generally speaking, any Aussie casino can charge any commission on the payment methods provided. Often on Bitcoin, these commissions are either minimal or not at all. Some casinos even offer Bitcoin casino bonus, such as free spins for pokies games, for cryptocurrency transactions from time to time.
