Bitcoin Casino Guide New Zealand

Home » Bitcoin Casino Guide New Zealand
Bitcoin Casino Guide New Zealand 2019-02-11T12:52:16+00:00

Best Bitcoin Casinos NZBitcoin is another exciting transaction method offered by top online casinos in New Zealand. Bitcoin casinos, also known as BTC casinos, allow players to use this cryptocurrency for both deposits and withdrawals. Using Bitcoin is convenient and easy. It is also completely secure as players are not required to provide any personal information. Let’s take a closer look at what makes Bitcoin a popular deposit and withdrawal casino transaction method for Kiwis.

What is a Bitcoin Casino?

A Bitcoin gaming site is an online casino permitting players to use bitcoins as a payment method. Bitcoin is a cryptocurrency operating in the peer-to-peer market. This means, bitcoins can only be transferred through bitcoin users using bitcoin addresses. These addresses consist of numbers and letters and can be between 27 and 34 characters.

In addition to bitcoin casinos, you also get hybrid casinos. These casinos accept bitcoins as deposits and withdrawals. However, they convert the bitcoin currency into traditional currencies such as NZD$ when depositing.

How to make a bitcoin deposit

Step 1

First thing first. When it comes to using Bitcoin at online casinos, players will need to have a bitcoin account. Players have the choice to set up a web-wallet or desktop wallet. Our team of experts recommend the web-wallet as it does not require New Zealanders to download any software. However, there are desktop wallets which do not operate from third party software, therefore will not require any software download. To register for a Bitcoin account, players will be required to provide their address and a password. Upon registration players will be given a Bitcoin address to use when completing transaction.

Step 2

Load your bitcoin account with some cryptocurrency. There are a number of different ways you can top up your Bitcoin account.

  • Bitcoin Wallet
  • Bitcoin Exchange
  • Over the counter
  • Bitcoin ATMs
  • Mining Bitcoins
  • Step 3

    Once you have your Bitcoin account all set up and topped up, you will be ready to navigate your way to the banking section of your chosen Bitcoin casino New Zealand.

    Step 4

    Find the banking section and select Bitcoin as your deposit option. Too complete the transaction, players will be required to insert their bitcoin details. This usually includes a using the Bitcoin address, which consists of a series of letters and numbers.  Players will also need to provide the address of the online casino.

    Step 5

    Open you Bitcoin wallet and fill ibn the amount you would like to deposit. Enter your address and the casinos address and confirm the payment.

    Bitcoin Deposit and Withdraw Methods

    How to make a withdraw

    Step 1

    With real money Bitcoin gambling, players can also easily make a withdraw directly to their bitcoin account. To make a withdrawal, players are required navigate to the payments section of the online casino.

    Step 2

    Once you are on the page, select withdrawal. To proceed with the withdrawal, players will need to insert their address and the amount they wish to withdraw.

    Step 3

    The funds will appear in your bitcoin account. However, it may take a a few days to process.

    Benefits of Using Bitcoin

  • Bitcoin is completely decentralised. This means players are in full control of the funds in their Bitcoin wallet.
  • Players can expect fast withdrawals. A number of bitcoin casinos even offer instant withdrawals when using the bitcoin cryptocurrency.
  • Bitcoin is anonymous. This means not everyone will know you have bitcoin.
  • Bitcoin is a globally accepted currency.
  • Bitcoin casino transactions are cheap. They can be as little as NZD0.05, depending on the network traffic.
  •  

    Draw backs of Bitcoin

  • Bitcoin does not have a fixed currency, the value is constantly changing.
  • When it comes to transacting with Bitcoin, it is important to have a basic understanding about transacting with e-wallets and cryptocurrency.
  • You are the one controlling the funds. If you accidentally insert the incorrect bitcoin address, there is no way of reversing the transaction.
  • Bitcoin is not traceable. This means it may be restricted on some government levels.
  • Bitcoin is still in the Beta phase. It has many incomplete features, New tools and services are being developed to improve the currency.
  • There is very little to no insurance for using Bitcoin.
  •  

    Bitcoin Casino FAQs

    • Are Bitcoin casinos regulated?
    • Not all bitcoin casinos are regulated. However, we only recommend bitcoin casinos that are reputable, regulated and licensed.
    • How does the Bitcoin cryptocurrency work?
    • The whole Bitcoin runs on decentralized computers (called miners) who verify the contents of each Bitcoin wallet and the transactions. Our bitcoin casinos also possess the required gambling license from the country they are from.
    • What is the minimum bitcoin amount I may deposit?
    • What is provably fair gaming?
    • What bitcoin games can I play?