As cryptocurrency adoption rises rapidly across the world, Bitcoin transactions have ballooned since last year. Many casino and sports betting websites have started offering Bitcoin as a deposit and withdrawal option. Players like using Bitcoin because it gives them anonymity and they don’t need to use their real money or expose their bank details.
What is Bitcoin?
Bitcoin was the first cryptocurrency pioneered back in 2008 by a group of individuals under the code name of Satoshi Nakamoto. It started being used in 2009 as open-source software and operates to this date without a central bank or administration.
Bitcoin’s value is set based on free-market economics and it is being exchanged through a peer-to-peer model. Many people love Bitcoin and employ it largely for online transactions, while some economists view it as an economic bubble that will not last for long.
Nonetheless, it is a great tool for those who want to deposit quickly on betting and casino sites in India without using their personal bank account to do so.
Is Bitcoin the Future of Payments?
Wondering why people would use Bitcoin when depositing into a casino in the first place? Well, the initial idea of the internet was for people to exchange information and stuff without the need for middlemen. Bitcoin has only recently allowed the Internet to realize its potential, as it was the first decentralized currency that is widely accepted throughout the world.
Gambling is an activity that is strongly linked with social stigma, so Bitcoin allows players to play anonymously without exposing their passions to their banks through bank or card statements.
Lastly, another major reason that Bitcoin is favoured by gamblers is that it allows for some flexibility when it comes to taxation.
Pros of Depositing using Bitcoin
The best thing about depositing funds into your casino account through Bitcoin is that it is one of the quickest payment methods. By using this payment option, you also avoid the drawbacks that come with credit card or bank charges.
Another great thing with this payment method for gambling is that Bitcoin is in its essence a gamble itself. This cryptocurrency has been fluctuating massively in the last few months. This means that your investment in the casino could have a much higher value than the actual amount of money you initially invested!
How to Deposit using Bitcoin?
Well, things are very straightforward when it comes to Bitcoin deposits. Simply find a casino that accepts this payment method and choose this as your deposit method on the Cashier page.
We are assuming you would have purchased some Bitcoin in an exchange using real-world currency, if you have not there are several good ones in India that you can find using a simple Google search. Some casinos conduct this exchange for you using third-party services, although this would remove the benefit of anonymity.
Bitcoin Withdrawals
Have you won some money by playing your favourite slots and casino games? Simply head over to the ‘Cashier’ area, choose Bitcoin as your withdrawal option, and provide the site with your public wallet address.
Bitcoin withdrawals from casinos are instantly processed, which is multiple times faster than bank withdrawals.
If you fancy exchanging your Bitcoin to a fiat currency, then you would have to visit an online exchange and do that. However, it is best that you avoid converting your Bitcoin back and forth, especially when it can be used with most online betting and casino sites.
Bitcoin Betting Sites in India
Now that we have run through the deposit and withdrawal procedures involved concerning Bitcoin, we will also share below some of the best Bitcoin sites in India.
Sportsbet.io
Sportsbet.io is one of the leading Bitcoin sites in India; it offers step by step guides on how to deposit into your account using cryptocurrencies such as Bitcoin. One can request withdrawals in fiat money or Bitcoin – to a great extent offering flexibility to the players.
The minimum amount that can be deposited on this site is 0.001 BTC. India being a sports nation and Indians following sports betting with their heart, this is an ideal sport betting site.
10CRIC
For cricket fans who own some Bitcoin, 10CRIC is the place for you. This site as the name suggests caters to Indians’ love for Cricket. They also offer other sports for betting and a variety of casino games popular amongst the Indian market. It is amongst the most loved sites in India.
10CRIC also goes by the name Bitcoin casino and not without a reason. Special offers are available for deposits using Bitcoin at 10CRIC.
Our Verdict on Bitcoin Payments
Most casino sites in India offer a great variety of deposit and withdrawal methods. People tend to stick with credit card payments and bank transfers since this is the most obvious option for them.
Nonetheless, the casinos that we mentioned above and many new ones tend to incorporate cryptocurrencies (such as Bitcoin) within their payment methods; some of their offers only apply to cryptocurrency deposits too.
Moreover, for people who are reluctant to share their identities, Bitcoin casinos would be the most preferred option.
Finally, some even predict that certain sites in the future might only allow exchanges in crypto, so we suggest starting to deposit using Bitcoin today!
