Bitcoin Casino Withdrawal

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• Indeed, as an online gambler who uses Bitcoin, you should know that picking a casino based on user experience and reputation is a key to seamless withdrawals. It is not unlikely for you to place a bet and win fairly only to fail to cash out either because the house opts not to facilitate the process or simply disregards your win.
• It comes back on Blockchain when you withdraw your bitcoins from your casino platform to your Bitcoin wallet. Is bitcoin gambling legal? Yes, bitcoin gambling is legal where flat currency gambling through USD, Euro and other currency gambling is legal.

Before we start I want to point out that I don’t really like to play with Bitcoin or any other crypto currency for that matter. But I had a lot of requests for instant withdrawal Bitcoin casinos, so I had to come up with a list.

This wasn’t an easy task for me. I had to do a lot of research in order to get it right. I managed to create this guide about Bitcoin casinos as you asked, and I will also tell you some things about Bitcoin slots sites as well.

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What is considered an instant withdrawal?

When we talk about instant withdrawals we have to get one thing straight. The term may be instant but in reality this is not the case. In most cases once you make a withdrawal request it’s processed by a member of the casino payment team. This means that the withdrawal and your game play needs to be manually checked before the payment is released. It’s very rare to have your withdrawal processed automatically and instantly at online casinos. This is done only in cases when you play with a pure deposit and your game play is not flagged as suspicious by the casino software.

So in most cases instant withdrawals are the ones which are processed within a couple of hours. But when it comes to a Bitcoin casino with instant withdrawal things are a bit different. In many cases even the deposit can take up to an hour to arrive on your casino account. This is so because the transaction needs to be confirmed on the blockchain at least once. Some casinos require 2-3 confirmations or even more. So, a Bitcoin casino instant payout feature is simply not possible. Even if the withdrawal is released immediately it will take some time for it to be confirmed on the blockchain and to arrive on your wallet.

Why do casinos delay payments?

Even at quick withdrawal Bitcoin casinos players can run into problems when it comes to payouts. This can be due to several factors. If you’re playing there for the first time the online slot site will need to verify your account, so you need to send in your documents. The payout timeframe can also depend on the type of crypto currency you are using. And last, but not least, you could be playing at a scam site so your withdrawal may never arrive.

Are instant withdrawal Bitcoin casinos safe?

The first thing I need to point out here is that there are 2 types of instant withdrawal Bitcoin casinos you can play at. Some operators can pay you your winnings through their platform and others will send them directly to your Bitcoin wallet. So it’s better to get your coins safely in your wallet, so you can do with them what you please.

When it comes to security it’s basically the same like for any other online casino. When playing at instant withdrawal Bitcoin casinos you need to choose reputable operators. This can be easily seen by their operating license. If you’re playing from the UK the casino will need to have a valid UKGC operating license. You can also easily check the casino rating across different gambling forums.

Nothing speaks for a casino as honest opinions by real players. So when you come across some Bitcoin casino which you like do your research. See what players have to say about them, what their operating license is and check their overall reputation across gambling forums. If you like what you see you can create an account and try your luck on the casino games.

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How to withdraw bitcoins from online casinos?

When you set out to gamble, you expect to make wins. It is the essence of it all. It then follows that you need to not only think of how to withdraw the money but also how the online casino you choose to play on facilitates the process.

These considerations apply nowhere else more than to gaming websites that accepts bets and make payouts in bitcoins such as BetChain.com, Bitcasino.io, and BitStarz.com.

We assume that you have already read our the page titled How to deposit bitcoins to an Online Gambling Site, where we explain the steps you need to take to deposit bitcoins into an online casino. If you have not, now is the time to do it.

Any fair gambling website should ideally provide easy and straightforward cash in and out processes. In withdrawals, this is both in making the funds available to you and having a friendly user interface. Indeed, as an online gambler who uses Bitcoin, you should know that picking a casino based on user experience and reputation is a key to seamless withdrawals.

It is not unlikely for you to place a bet and win fairly only to fail to cash out either because the house opts not to facilitate the process or simply disregards your win. And house dishonesty does not happen only with online casinos that do not use the Provably Fair (a technology that empowers the player to proof that the house does or does not manipulate a game). In particular, new and little-known gambling sites are likely to refuse to approve a payout even where the win is indisputable.

Do you really need to withdraw bitcoins?

When it comes to withdrawing bitcoins from an online casino, you also have to make critical decisions on whether you will withdraw, how you will do it and how long it will take (should you wait?)

Whether you need to withdraw the funds at all
depends hugely on your personal preferences.

If you are an avid gambler, you may need always to have funds ready for wagering.

Thus in the case whereby your wins are not substantial, and you want to make higher bets in your next gambling, it would be your choice that you do not to withdraw at all. Indeed, by keeping the bitcoin winnings and bonuses in your casino wallet, you will cut down the cost of gambling (even though they are low with bitcoins).

This is because you will not be re-depositing the same bitcoins you withdrew to continue playing.

However, you shouldn’t rush into withdrawing your bitcoins immediately, especially if you’re planning to convert or exchange them for a fiat currency.

Make sure you have all the information, as it may be worth waiting a little bit – Bitcoin functions just like any other product on the market, so its price may increase and decrease regularly, depending on many variable and the overall situation; the differences in the value can be truly significant and, very often, they can occur in the short periods of time.

So unless you are in a really tight spot, it’s probably better to wait.

The length of the process of withdrawal will also depend on your chosen method. For example, some converters can take days to convert your bitcoins into the desired fiat currency. What’s more, many of them will charge a fee, so before you decide to do anything, make sure you know all the necessary details.

Moreover, leaving your winnings and bonuses lying in your casino account for a future wagering makes convenience sense. Nevertheless, at the end, even when you follow the above strategy, you will have to withdraw your bitcoins winnings. That is unless you lose the whole amount to the house.

To initiate the process of getting some or all the bitcoins that are under your name in the casino, you will go to your account and find a section known as the ‘Cashier’. It is the sections that keeps all the records of your deposits and win balances. Enter the amount you need, or all that you can get, and click on the Withdraw button.

At this juncture, you will need to be ready with the wallet to which you want the bitcoins to go. The wallet could be a cloud Coinbase or Blockchain.info or their app versions. Indeed, you are free to use any bitcoin wallet of your liking. They all perform the same tasks even when their functionalities and level of security differ.

The ‘Cashier’ of the gambling site will prompt you to enter the public address of your wallet either as an alphanumeric character string or scan its QR code. The latter you will do using a device camera. The former is done through the manual cut and paste. After confirming that you want to proceed with the transaction and hitting withdraw, the bitcoins will appear in your wallet in a matter of minutes. Just like with depositing, the cost of withdrawal is negligible. Only a small miners’ fee is deductible.

Spend wins as bitcoins or convert them into your currency

The process is complete and you don’t have to do anything else if you are planning to spend the money as Bitcoin – they simply come back to your wallet, usually within minutes. However, if you want exchange your bitcoins and get your money in Dollar, Euro, Sterling Pound or any other fiat currency, then you need to do more. And you may need to turn your strategic thinking skills on.

Just like you needed to buy bitcoins before you even started playing, you can now sell them in exactly the same way, or rather withdraw and then convert into your chosen fiat currency (the process and possibilities will depend on your chosen Bitcoin casino or convertor, so never neglect reading about the services you choose to use).

But it may be more beneficial to withdraw bitcoins and then exchange them through a cryptocurrency exchange website. As we have already mentioned before, make sure you know the current value of Bitcoin, because it may turn out that you can earn more by simply waiting a little bit.

All you need to do is simply go to a converter or cryptocurrency exchange website (e.g., https://www.xe.com/ or https://cex.io/), set up an account, and start exchanging. Make sure to read all the details concerning the fees and other costs of money transfers.

In most cases, these websites work just like any other currency exchange bureau, only online, so you need to send the bitcoins you want to exchange and provide all the details needed for a successful transfer. Depending on the website, you may have several options to exchange or trade your bitcoins, so be sure to get familiar with all the possibilities in order to choose the best one.

Bitcoin Casino Withdrawal Money

However, converting bitcoins to fiat currency is becoming less necessary each day with more merchants choosing to accept bitcoins.

Online stores such as Overstock and Rakuten are always more than ready to accept your bitcoins for goods they ship. Even Microsoft will let you pay for their digital products with bitcoins. Not to talk of buying an air ticket and booking a hotel room through travel agencies such as Expedia.

Within your neighbourhood, you will have to check sites such as Bitcoin Map to find businesses that accept the cryptocurrency. And if you live in a major town and city, the likelihood that there is a restaurant, bar or grocery store accepting Bitcoin, and other digital currencies are very high now than ever before.

However, if your location and other conditions will not allow you to spend the Bitcoins you have, you still do not have to worry. There are several ways you can convert them into the type of money that is acceptable in the places you shop.

For example, you could sell them to friends and relatives who need them. However, if this does not give, you have Localbitcoins.com, where you find willing buyers within your town or city. In the event that you do not find acceptable deals there too, sign up to a Bitcoin exchange such as Coinbase or Bitstamp. They buy and sell bitcoins and reigning daily rates.

Bitcoin Withdrawal Address

Using a Bitcoin exchange might take a day or two to complete the conversion (depending on the exchange and your banker). Nevertheless, in the end the money will show up in your bank account in the fiat currency of your choice. While the above description of withdrawal is for bitcoins, it also applies to any other cryptocurrency that is used for gambling online, commonly referred to as altcoins (alternative cryptocoins).