How do Cryptocurrencies Work?
The digital currency operates using a blockchain made up of blocks, essentially units that contain information of every transaction passing through this peer-to-peer network. Any person can view the information on the blocks for transparency. No central organization controls the movement of these blocks, which is a top that attracts many users – gamblers or otherwise. Thanks to this decentralization, no fees are charged for transferring virtual currency from one user to another.
The first crypto, Bitcoin – BTC – was founded in 2009 by an unknown private person, and it started a revolution that has seen the emergence of over 100 coins backed up by blockchain. Being the first ever currency of its kind, BTC became the first to be accepted internationally and the most popular at the best crypto casino sites today. Others closely associated are Litecoin, Dogecoin, Ripple, and Ethereum, which have come up with unique features – especially Ethereum with smart contracts.
These currencies have a few things in common: they are all virtual, meaning no physical coins or notes are associated with them, have to be backed by a blockchain to be trusted, and are mined. Satoshi, the father of BTC, put the ceiling at 21,000,000 for the number of coins that could be mined to ensure scarcity and stability of the currency as it is now quite volatile. As per his settings, the last coin will be mined in 2140, and as of 2022, a little over 18 million coins have already been mined.
How does it work at a bitcoin casino? You will need to get a digital wallet where your money will be held safely, register an account at a regulated crypto gambling UK website, and then transfer your digital money, as we will illustrate below.
How to Get Your First Bitcoin
The primary method of acquiring these coins is mining, using powerful computers and enough technological know-how. The miners are rewarded with small amounts of BTC known as Satoshis that they sell to crypto exchanges where users can buy. If you can mine it, you will be rewarded heavily, and you can proceed to use the loot at BTC casino sites and elsewhere. If not, you can always buy from exchanges the same way you get shares and foreign currency.
- Mining: the process is known as proof of work (PoW), and it starts when you answer some numeric questions meant to lead to a 64-digit hexadecimal number, known as a hash, which is as close to the target as you can get. What makes the process engaging is that miners have to work hard to be the first to solve these issues and get the hash.
- Buying: There are the traditional brokers that deal in bonds, EFTs, and shares that can also sell you these currencies, but they usually have a small selection of currency. If you are looking for many options, you want to work with cryptocurrency exchanges, and there are quite a number of accredited institutions. Exchanges have several virtual currencies on offer, lots of educational material on their sites, and you will find information on creating a digital wallet.
- Digital Wallets: You only need some personal details to register an account and create this wallet. You will get a key that works like a bank PIN. The only way you would lose your virtual money is if you lost your key or left your digital wallet unmanned.
- ATMs: They work like their fiat currency counterparts and are the easiest ways to get your digital currency.
How We Rate Casinos with Crypto Deposit
When searching for the best online casino, we look at licenses, games available, the software at the site, customer support, whether there are other banking options, and site’s overall security. We discuss the most important of these below.
The most important aspect of a casino is its license, as it tells you why and how the site is regulated. The UK has the UK Gambling Commission as its primary regulator, so any crypto casino UK should have that as its regulator, or others such as Malta and Alderney. The license numbers should be available on the homepage for users to verify before engaging with these sites.
While at regulation, there is provably fair system use that has now become a popular term in crypto use. When a player engages a site, it creates a server seed that will be hashed, and a client see generated by the user’s browser. These two seal the deal, making it impossible for players or casinos to change any details on their gaming settings. This is mainly how sites ensure the player’s safety while at a casino bitcoin.
- Great Bonuses
Freebies are an excellent way to get players interested and keep them there, so you want to pull them through offers and bonuses. We read the terms of the deals given by these sites to ensure they are worth it, then advise our readers to read them to ensure they are getting the best deal. Good bitcoin casinos UK have offers on deposits, and their wagering requirements are not too tough to meet.
- User-friendly Interface
The site should be easy to follow, so the user doesn’t have to jump through hoops when they need to access games or anything else. The payment options should be clear, and all helpful information – such as license numbers – should be visible on the homepage of the bitcoin casino UK site. We also like sites with mobile-compatible games since gaming has moved to mobile devices these days.
- Wide Variety of Casino Games
Players are at the casino to be entertained and make a little money from the game, so we choose sites with a variety of these products. Gaming products are determined by the software provider a site works with, so we select sites that partner with the likes of Microgaming and NetEnt, known for their superior games and products.
- Great Customer Support
A bitcoin gambling UK site worth its salt will have several platforms where the players can reach out when they need to consult. We are looking at email, live chat, and toll-free numbers, which are all great ways of reaching out. We also look at the site’s FAQ section as it’s an excellent way to answer the most common questions without a user reaching out to the support team.
- Fast Deposits and Withdrawals
BTC and other cryptos are known to be the fastest ways to withdraw money from a gambling site as there are no long bureaucratic methods such as those followed by traditional banks. With them, you should get your winnings within 12 hours of withdrawal. We look at the other payment options available at a site – apart from BTC – and choose those with digital platforms that are much faster than EFTs.
Features of Bitcoin Casinos for UK Players
Some of the reasons BTC has grown as much as it has in its use include anonymity and security. We discuss them in depth.
- ✅ No Middle Man: The system is decentralized so that no central banks interfere in the money transfer. This lack of regulation does not mean disorderliness, as the public ledger is open to everyone but cannot be altered. Since no financial institutions are involved, you can safely transfer large amounts of virtual cash in record time. Being independent of banks removes the bureaucracies we see during the usual money transfers.
- ✅ Low Fees – or None: The only charges you will incur when working with this virtual currency are at the crypto exchange since the rest is free. You will make the transfers from your digital wallet to fund your UK bitcoin casino, and here is when you will incur costs. Deposits and withdrawals are free, and any amount you incur is lower than any traditional banks would charge.
- ✅ Instant Transfers: You won’t have to wait for days to get your cash from a crypto casino UK site as the transfers are effected as soon as the casino releases it. Casinos usually check whether a player has met all the wagering requirements before you can get it.
- ✅ Anonymity and Security: The most appealing quality of BTC is anonymity because your transaction will be a number, not names. It can also be traced, thanks to the details being on blockchain, but you can very easily hide your activities from nosy people. Your virtual money is safe if you don’t lose your digital wallet key. Therefore, anonymous crypto casinos are becoming more and more popular every day.
- ❌ One thing you want to remember is that the price of BTC and other cryptos changes from time to time since the currency is more volatile than any other financial asset. When you know that, you will know what to expect when you buy cryptocurrency.
Deposit to Casino with Bitcoin
It only takes a few minutes to transfer money to your UK crypto casino if it is already in your digital wallet. The steps are easy to follow as we will describe them below:
- First, you want to register an account at a casino that accepts BTC or other cryptocurrencies. There are several in the UK, so you will not struggle to get that online.
- You already have a digital wallet at this point, so you want to load it with the virtual currency to facilitate the transfer. Apart from BTC, other popular currencies accepted at online casinos are Dogecoin, Litecoin, Ethereum, Ripple, and Bitcoin Money, and you can use any that you prefer.
- Choose the payment option you prefer at the casino’s site and follow the prompts. You will enter the amount and key in the credentials through the pop-up window that will take you to your crypto wallet. Effect the transfer and wait for the transfer to happen.
- Check the status of your account, as not all casinos will notify you of the funds transfer. You have successfully transferred money to your gambling account and are ready to start gaming.
Withdrawals from Bitcoin Casinos
Here’s a step-to-step process of how to withdraw from a BTC casino.
- First, you want to ensure you have met all the requirements set by the site. You have wagered as you should and met the minimum requirement for withdrawal set by the casino.
- At the site, enter the amount you want to draw and other credentials as you will be guided.
- If you have linked your BTC wallet to your bank account, you can transfer the cash to your bank and withdraw it as fiat currency. You can otherwise send it to crypto exchanges or draw it from crypto ATMs at various locations.
- Wait for the casino to respond and let you know when the transfer is completed. Usually, it takes a few hours to verify all the personal details.
Commissions and Timings
One of the best things about using BTC is the lack of charges, where the only cost you will need to think about is the exchange commission. It varies from 0.8% to 1% of the amount you will deal, which is a small amount to pay for the convenience of this means of exchange. Bitcoin’s founder was determined to rid transactions of the dominance we see with commercial banks, and they managed to do it.
Timing is the best on these streets where EFTs take at least a day, thanks to restrictions placed by banks. Deposits reflect immediately, but regularly, casino withdrawals take a while since they have to go through steps in due diligence. Once that process that takes at most 12 hours is complete, you will get your winnings right away.
Bitcoin Mobile Casinos for UK Players
We are in the era of mobile gaming, where players can stream games through iPhones, iPads, Android smartphones, and Tablets to make gaming possible from anywhere. Game developers have to come up with games with responsive designs, which is why we pay attention to sites that work with top developers. The BTC casinos with mobile-compatible games work easily together because you can fund your account through your phone and then go on to start playing through the same platform.
Games in Crypto Casinos
The most popular casino games are slots, table games, poker, and a good variation of specialty games that players find refreshing when looking for entertainment. When playing at casinos that accept BTC, these options are available as they would be at casinos that accept fiat money, and the wagering is the same. You can also count on bonuses and unique offers, as we will discuss below.
Slots are the most popular casino offerings for their ease of playing. As a game of chance, you will not need to use advanced knowledge of the game or any particular strategies. Most of the slots on the market are based on themes we are used to seeing and dealing with, such as movies, reality shows, and celebrities, among other themes. They also have several features to make your gaming more enjoyable and enticing.
Online slots are developed to be played on PCs and mobile devices these days. There are demos you can play if you are interested in learning the game before playing for real money at first, and the host of game developers available makes the market quite competitive. We prefer casinos with a wide variety of slots because we know this category accommodates players of all levels. How do you play? You just need to select a game out of the many, place your bet in the paylines you want, and then spin the wheel.
Thanks to its better-than-slots returns and ease of learning, you will hardly miss Roulette at online sites. This game is one of the easiest to play because it requires no strategy. You just need to know how to spin, select the winning numbers, and wait for the wheel to settle. It is one of the games you can play without any prior experience and still feel like you are among the table gamers at a casino site.
When the game begins, you place your bet and prepare to play. Bets involve the numbers where you choose where the small ball will land on any of the 36 numbers. All the numbers have the same chance, so you want to watch intently to see where the ball lands. These days, casinos have Random Number Generation technology that minimizes the chances of fraud, so you do not have to watch the wheel like a hawk.
As one of the few games of skill, Blackjack requires strategies and knowledge. Your task is to get to or as close as possible to 21 before the banker does. The game uses cards, and the dealer dishes out 2 per player with their faces up. They keep two, with one face down. Before you start playing, you are free to change your cards if they do not please you.
When playing online via live dealers, choose a table, settle down, start online banter with the other players if you like, and start playing. You have the chance to hit or stand – ask the dealer to change your cards, or Stand – ask them to move on to the next player because you are satisfied with your options. After everyone has their cards, the dealer will show their hand, and everyone will check to see who has the best cards – to get them to 21 or as close as possible.
If your cards are close to 21, you win a regular bet, which pays out 1:1. You get 3:1 if you have a complete 21, and you can split if you have two cards of the same value. Several online resources can teach you how to play BTC Blackjack if you spend some time on the game, and you can also try out demo games since they are designed for practice.
Crypto Casino Bonuses in the UK
Most online casinos are always looking for new players through this strategy that never fails to work. They give new and existing players offers to welcome and keep them glued to their slots or table games, and the rewards are pretty enticing if you meet the terms and conditions.
There are several offers at most casinos:
- Welcome bonuses
- Free spins
- No-deposit offers
They are attached to their sets of conditions, and you may need to validate the offer with a code, but we will talk about the various types below.
These are some of the qualities of welcome bonuses:
- They are given to new players who just opened an account for the first time at that casino, and you can only claim them once.
- They are mainly attached to the deposit.
- They can be offered on the first few deposits.
- They are attached to wagering conditions, and you can only withdraw the winnings after meeting them.
- They could be sticky or non-sticky.
When you register an account with a casino, you will be welcomed with an offer to play some games for free using the site’s money. This offer is usually attached to deposits and wagering conditions. You want to read these terms before accepting the bonus because some sites make them a little too strict.
Some of the conditions attached include
- Wagering requirements
- They can be limited to a specific period
- They could be attached to specific games, and the percentage of qualification may differ from one game to the other.
When we talk about sticky bonuses, we mean the money is not for withdrawal. You can use it on games, but you cannot withdraw it as it remains in your account. As for the choice of games, this is solely over to the casino to make, and it also decides how the games contribute to wagering. The good thing is that all the information is available in the T&Cs.
No Deposit Casino Bonus
Here, players do not need to fund their accounts to qualify for the bonus. They simply need to register an account to get the free cash and start playing. This offer is usually rare since not all sites want to commit cash without getting any deposit, but you can still get them if you scour the interwebs.
The free cash is rarely available to withdraw, but it will help you make some cash through gaming that you can withdraw after meeting the set conditions. The conditions for such offers are usually quite demanding, but a determined player can meet them. Most of these offers are quite small, and you will need a code for validation.
Free Spins Bonus
These are ideal gifts for new and existing players that can be used on slots and other games that require spinning. You could get them after depositing some cash or as a reward to celebrate a milestone at the site. They are also a casino’s preferred present when unveiling new slots: it allows gamblers to play for free to test the game, and the winnings are then subjected to wagering requirements.
Free spins are governed by sets of rules the user must follow to get the cash. They could be limited to specific games, tied to some wagering requirements, or only valid for a limited period.
Casinos with Faucet
What are crypto faucets? They are small rewards that users receive for completing very menial tasks on sites that support these faucets. The tasks range from watching ads – videos – to completing an online survey. They are like coupons that form a good way for newbies to get crypto without mining or buying from exchanges. They are small since you get about 0.00000001 BTC Satoshis, but they can add up as you complete more tasks.
Faucets were added to other merchant sites in collaboration with the owners of those sites, and now casinos have joined this wagon. They are a great way to get bonuses without wagering or risking money. They are already incorporated within site, so you will not be redirected to another to complete a task. The tasks take short periods to complete and are totally worth it if you are looking for a way to get small amounts of cryptocurrency. Faucets are available for most of the top crypto.
Quick Reminder: You are responsible for your safety while online, so you want to do your research before using any link that promises Satoshis. The best way to stay safe is by working with known and respected brands that would not result in fraud since they have a reputation to uphold.
Crypto Casino Experience in the UK
These are some of the things you will notice when you switch to crypto from fiat money:
- Fast cash-in and out because there are fewer checks.
- Low cost of transaction.
- Larger deposit and withdrawal limits by casinos.
- Anonymity and security.
The experience is generally good since every user wants to be assured of safety and security when they work. You will enjoy the larger deposit and withdrawal limits and faster timings and look forward to cheaper free transfers. You can use this option wherever you are in the world and do it all from your phone or laptop. The convenience when transacting with BTC and other top cryptos is on another level.
You will need to look out for the regular price changes because, as we mentioned, virtual currency is sometimes on a freefall as there are no controlling entities. The market makers can influence the prices by flooding the market with information that causes panic sales and buys since cryptocurrency is still a speculative tool. When you let that lead the way, you will be on the lookout for crypto news, so price changes don’t catch you off-guard all the time.