Bitcoin casinos are a new trend in casino industry where you can make a deposit and even withdraw with Bitcoins. Most of the online casinos have now Bitcoins on their list of banking options for pokies players. Players like to use this new payment mode because it’s instant, secure and anonymous. This means you do not have to spend too much time fiddling with your bank accounts, or worrying for safety of your online transactions or for your privacy. It’s simple, quick and reliable.
What is Bitcoin?
Bitcoin is simply a decentralized crypto currency. It is coined decentralized owning to the fact that it is not controlled by any financial institution, government or even backed by any bank. This purely digital currency thus have no notes or coins that can be used exclusively in online transactions. In this monetary system encryption is used to secure transactions and keep your transactions anonymous.
Is it legal for New Zealand players to use Bitcoins at online casinos?
Bitcoin or cyrptocurrency as it’s called is legal in New Zealand, but operating online casino gambling sites within the country is not. The 2003 Gambling Act states that all forms of remote interactive gambling is illegal, but the law explicitly states that the ban on gambling does not include gambling by a person in New Zealand conducted by a gambling operator located outside New Zealand. This means that it is perfectly legal for punters in New Zealand to play on any international online casino sites available to them. Therefore Kiwis are able to use Bitcoins at offshore online casinos with no problem.
Where to get Bitcoins from and how to store them?
To play at Bitcoin casinos you obviously need Bitcoins and the easiest way to get them is through a bitcoin exchange. So how that works is:
- Create a wallet at the bitcoin exchange: All you need is a verifiable email address to get started.
- Once you’ve selected and signed up for an exchange, you can begin buying or transferring money to your exchange bank account.
- When money is deposited, you can choose to ‘Buy’ or ‘Trade’ the bitcoins,. The pricing will always vary depending on supply and demand.
- Once the bitcoins are purchased, you can transfer your bitcoins from the bitcoin exchange to your wallets.
There are different methods through which you can purchase bitcoin. Also, there are many currencies you can use to buy bitcoin from different exchanges. After buying bitcoins you will be allowed to use them at Bitcoin casinos and enjoy anonymity and safety. Another thing is that you can exchange your bitcoin into fiat currency through any of your selected bitcoin exchanges online.
Though Bitcoin is not legitimately used in New Zealand but you can buy it from traders for a marked-up price. Also there is a bitcoin ATM in a bar in Auckland and in Dunedin but that hasn’t really caught on as there are less users of BTC (Bitcoins) because it takes time to build trust on any new currency.
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How to play Pokies with Bitcoins?
Pokies at Bitcoins casinos can be played with Bitcoins without any effort. Like you generally play casino games and pokies at New Zealand friendly online casinos in same way you play with Bitcoins. All you need is to register at Bitcoin casinos or casinos that have BTC as currency of deposit listed in their banking page. When playing real money pokies simply choose BTC as your mode of payment at Bitcoin casinos. The Bitcoin casinos will convert your bitcoin into their base currency that is NZD and the exchange rate will be boldly displayed in the bank interface on the site.
Although you can’t use a bank account, credit card or cheque, avoiding the conventional banking system means transactions are faster. Using conventional currency, cashouts can take days, and cheque deposits up to a week. Bitcoin transactions are usually complete within minutes. Bitcoin casinos have no transaction costs. All transfers are peer-to-peer, so there are no middlemen to pay. Multi-currency casinos often make charges to deposit or withdraw using a credit card, and the providers themselves may have fees. The same can be true for e-Wallets and banks.
How to choose best Bitcoin casino?
Before signing up at Bitcoin casinos you should check the following:
- Bitcoin casinos should be licensed and regulated by authentic gambling commission.
- The casino should have a provably fair system, and/or uses games from reputable traditional casinos. A provably fair system uses cryptographic techniques to determine the authenticity of a roll and ensure that neither the game, nor the player knows the outcome of a roll prior to the bet.
- Bitcoin casinos should offer great promotional offers and BTC bonuses.
- The game play and interface should be user-friendly and can be played with various devices like mobile and tablet.
Playing at Bitcoin casinos gives much joy as you can make can deposit and withdraw anonymously without the need for any third parties or middle men. Also you can play with high or low credit according to your budget in a fast deposit and withdrawal environment. Moreover, when making cashouts, there is no need for any ID proof and with loads of BTC bonuses at Bitcoin casinos greater chance to make some wins when playing pokies games. With 24.7 help support Bitcoin casinos are now much on demand.