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The Best Bitcoin Friendly Online Casinos For South African Players
It is no surprise that cryptocurrency has absolutely shaken not only the online currency world by storm but top financial trading markets too. What started out in the late 1980s as just an idea for an untraceable currency that required no use of centralized financial services like banks, has since exploded into a fully functioning, self-sustained economic world, where buyers and sellers alike are grappling at the bit to get their hands on a portion of the crypto pie.
It was only a matter of time before cryptocurrency found its way into the world of online casinos. This is precisely why we make sure to list the biggest and best online casinos that not only offer Bitcoin as a deposit or withdrawal method but also ensure you know which ones cater to South African players.
What is Cryptocurrency?
In order to understand how cryptocurrency works, you first need to understand what it is. Cryptocurrency, also simply referred to as Crypto, is a virtual, or digital form of currency that requires absolutely no input or need for previously used centralized financial services or authorities, such as banks.
Crypto works slightly differently from the conventional forms of monetary payment you would have come to know, you see, with crypto, everything is managed across a vast network of computers, managed and controlled by what is known as blockchain technology, think of it as a virtual arcade token which is essentially kept safe in a database of computers, it is completely online, so cryptocurrency isn’t a physical thing you can touch or feel.
What makes cryptocurrency and bitcoin so valuable is that it firstly allows for incredibly easy and fast payments between buyer and seller, and because it uses highly sophisticated encryption techniques, payments using crypto are extremely safe too. Crypto and bitcoin can also be traded as a commodity on the stock market, making it an incredible investment source.
Introducing Bitcoin
Did you know that according to statistics, there are over 6,700 different types of crypto available today, and this number is growing constantly? Back in 2008, the very first openly utilise crypto was none other than Bitcoin, a name we are very sure you have come across before.
Of course as with anything new Bitcoin wasn’t completely understood at first, so it was slow to start as people tried to figure out how it worked, and really what its purpose was. Since then though, not only Bitcoin, but hundreds of other cryptocurrencies have infiltrated their way into everyday modern life, from online shopping to trading, payment solutions, and of course, why we are here, online casinos.
Bitcoin and Online Casinos
Its difficult to say exactly when Bitcoin started to creep its way into the world of online casinos, but what we do know is that it was inevitable given that the world, in general, was seeing a lot more activity across a number of markets and industries to using crypto as a payment solution.
As we all know, one of the most important features of any online casino is the payment methods which it offers, this is not just about variety, of course, this is great if you want to stand out from the clutter, but more importantly, the safety and security when making deposits and withdrawals online, these are two key factors for any would-be player.
Naturally, the convenience, low fees, safety, and simplicity that came with Bitcoin created an instant attraction for operators in attracting players to their casinos. Since then, Bitcoin is becoming a staple payment solution offered to players by online casinos all over the world
How Do You Buy Bitcoin?
Going about the process of purchasing Bitcoin isn’t as complicated as it seems, all you need to know is where to go. Below is a step-by-step guide on how you can go about purchasing your very first portion of Bitcoin.
Step 1:
You are going to need to sign up for what is known as a crypto wallet. Your crypto wallet is essentially the virtual wallet that will then allow you to not just buy, but sell, and pay using Bitcoin. Crypto wallets are free and accessible using all major devices and operating systems.
There are hundreds of great crypto wallets available, all of which carry their own unique functions and features, the choice of which wallet you have depends entirely on your needs. Choosing the right crypto wallet may seem like a daunting task, so we recommend the best place to start when looking for the right crypto wallet is the Bitcoin website.
Bitcoin has laid out some pretty amazing functions that allow you to filter through the various crypto wallets using criteria that best aligns with your specific needs and preferences, these include things such as, the device you will be using, the operating system, the level of control you would like, your level of experience, and the security features you may need.
Step 2:
Now that you have chosen your crypto wallet, it is time to load your wallet with funds. For this step of the process, we recommend that you load the app of the crypto wallet you have chosen onto your tablet or mobile device. When it comes time to deposit with an online casino of your choice, your mobile device will then help to make the process much simpler.
Loading funds onto your crypto wallet is easy and can be done using either Instant EFT or Bank transfer, depending on the crypto wallet you may have the deposit methods may differ slightly. For our example, we are using Luno as our chosen crypto wallet
Go ahead and select deposit, then proceed by entering the amount you would like to deposit
Step 3:
So you now have your crypto wallet and you have successfully loaded it with funds, great! We can now go and purchase our Bitcoin. To do this, simply go into your crypto wallet and select “buy”, the app will then ask you which crypto you would like to purchase, go ahead and select “Bitcoin”. You will then need to select your ZAR wallet as the payment source ( this is the source you loaded with funds in step 2).
Select the amount of Bitcoin that you would like to purchase in ZAR, the app will then tell you the amount of Bitcoin that this amount will get you, and then select “Next”.
Congratulations! You have just bought your first portion of cryptocurrency. You will receive a confirmation email of your purchase, and your Bitcoin will now be reflected in your crypto wallet. You will be able to view this whenever you want to see how it is doing.
Benefits of Playing Online Using Bitcoin
As mentioned there are so many great benefits to using cryptocurrency in general life, but there are also tons of benefits to making use of Bitcoin specifically when playing at your favourite casino online. Below are just some of the key benefits to using Bitcoin at an online casino
- Seamless Integration – because Bitcoin integrates directly from your crypto wallet to the payment solution loaded by the casino, the entire process requires no sensitive information, or drawn out login processes, the entire transaction process is completely seamless
- Safe & Secure – The encryption techniques and blockchain technology that Bitcoin uses to transfer and store virtual currency are extremely safe and secure. This makes depositing into an online casino using Bitcoin one of the safest payment methods around.
- Elimination of bank fees – Bitcoin is a completely separate payment system to that of conventional banks, this means that during the payment process you won’t incur any additional bank related fees when depositing or withdrawing.
- Trading advantages – Crypto is not just a virtual currency that you can make payments using, it is a currency which is constantly being traded on the stock market, for this reason the Bitcoin value you buy is constantly changing, so you can make more depending on the market. Additionally, you can also sell your Bitcoin for cash, you can buy online, and even transfer Bitcoin to someone you know.
