Bitcoin casinos offer a transparent, third-party-free payment method for avid gamblers in South Africa.
They are becoming increasingly popular for the simplicity and benefits they provide.
We are constantly evaluating new bitcoin casinos that we list here at Casinoble, and we pick the best ones for you!
If you’re looking for some entertainment check out the best online bitcoin casinos in South Africa and give them a shot.
What are you waiting for? Have some fun now!
Last Checked: Nov 24, 2023
Ready to embark on one of the most exciting features of the iGaming industry here in South Africa?
We are talking about bitcoin casinos.
They distinguish themselves from the others because you can use cryptocurrencies in these casinos.
On this page, we’ll tell you what you need to play with BTC and many other cryptocurrencies in South Africa!
Bitcoin has created an indelible mark in the financial market and almost every economic sector.
People can now send and receive money worldwide, buy gadgets, and carry out transactions with this cryptocurrency.
Naturally, it has also left an impact on casinos.
Here, you will find the benefits of playing in these casinos and how you should go about it in South Africa.
Bitcoin casinos are some of the newest trends in the online casino industry and are growing in popularity.
As the currency becomes more and more popular, many online casinos in South Africa use bitcoins as one of their payment methods.
Bitcoin casinos allow players to deposit funds or withdraw winnings in bitcoins.
A departure from the traditional currencies, bitcoin does not have a third party.
The cryptocurrency does not have a central bank, and it functions through a peer-to-peer marketplace.
That means the currency can only be sent from one user to another.
Bitcoins transfer via a series of between 27 to 34 numbers known as a bitcoin address.
A bitcoin casino can either have bitcoins as the only supported currency or have several other currencies on top of bitcoins.
Those with bitcoins as one of their several supported currencies are hybrid casinos.
Most hybrid live casinos allow players to deposit and withdraw in bitcoins – yet, they tend to convert bitcoin deposits into a traditional currency.
You can buy bitcoins from reputable currency trading platforms, such as BTC-e, Bitstamp, or Kraken.
To purchase bitcoins from such platforms, the buyer can use any payment methods supported on it.
Bank transfers such as SEPA, wire, and ACH are the most popular methods.
They are not the only methods, as some platforms allow traders to use other methods.
Some of these include regional payment vouchers, credit cards, or e-wallets.
The transactions are usually instant, and players need to pay a small exchange fee to complete the trade.
Bitcoin deposits require the player to have a bitcoin address, which they get once they have signed up.
Players don’t have to incur any deposit charges as bitcoin transactions are usually free of charge, and they also happen instantly.
All the player needs to do is wait for the so-called blockchain to complete the transaction confirmation.
That’s a process that lasts less than one hour.
Many bitcoin casinos run promotions and bonuses targeted at benefiting bitcoin users.
These promotions are accessible on the casino’s promotion page – hence, it is always a good idea to be on the lookout.
The promotions vary from one bitcoin casino to another, and if well used, they can translate to winnings, our favorite is always no deposit bonus.
The player will need to send their bitcoins to their trading platform and put them up for sale to cash out the winnings.
Once the bitcoins are purchased, the player can withdraw the money using a bank transfer or any other method of their choice.
However, since bitcoin prices keep changing, a player may want to wait until it is favourable to sell.
In such a case, they can download their bitcoin wallet and safely store their coins there. The wallet is password-protected.
There is no freezing of the player’s funds as bitcoin allows players to control their funds. That's because bitcoin does not deal with third parties like banks (which are known to withhold funds sometimes). Withholding funds is a rare phenomenon in countries where online gambling is regulated. However, it is a significant concern in unregulated markets.
Information security is essential for online casino players. While some casinos ask for the player’s details like name and address, bitcoin casinos prefer letting their players operate anonymously by not asking for such information. The only information players may be required to share with the casino is an email address, and this happens only when the players are trying to recover a password.
Bitcoin as a means of legal tender in the gambling industry has eliminated many shady deals and tricks that can give the house an edge. Bitcoins provide a clear and transparent platform for ensuring that the odds are genuine and apparent to gamblers, making the process more believable.
There is no need to be afraid of the theft of your personal information with bitcoin. Most of the time, gamblers only need to credit their wallet and then start the process of gambling. Also, bitcoin eradicates the laborious chore of filling in your details. That's something that usually consumes a lot of time.
Online casino players like services that allow them to save money, and bitcoin enables them to do that by offering free payment processing. Most casinos charge a processing fee when players are transacting in traditional currencies. And that's something that players don’t like. In countries like the US, where online gambling is not regulated, the charges may go up to 10 percent of players’ winnings. The use of bitcoins for gambling eliminates unnecessary expenses and transactional fees. In some cases, this fee is zero, making it even more desirable. Also, Bitcoin is not regulated by any financial institution. That's responsible for its cheapness.
Bitcoin is accessible from every part of the world. That's an added advantage because some jurisdictions have constrained betting entirely. Thus, citizens in those jurisdictions cannot access a trustworthy betting casino.
Like all financial instruments out there, the forces that control the availability are demand and supply forces. Because it is becoming more popular, more and more people are adopting it as a legal tender, which means increased value!
Like traditional online casinos, bitcoin casinos offer various games to choose from, including tables and slots.
Bitcoin games are probably fair, and help players stay anonymous.
Yes, bitcoin casinos are generally safe. Some platforms aren’t properly regulated, but you won’t find them on our list. Every bitcoin casino here has a good reputation and is typically licensed for additional peace of mind.
Bitcoin casinos are popular amongst gamblers because of the many benefits they provide. They offer a secure, transparent, and fast payment method. However, most people love them because they don’t include third parties and offer anonymity.
Bitcoin casinos either have bitcoins as their only accepted cryptocurrency or have several other currencies on top of bitcoins. Those including bitcoins as one of their several supported currencies are called hybrid casinos. Most hybrid casinos allow players to transact in bitcoins. However, they tend to convert bitcoin deposits into a traditional currency.
You’ll need to send your bitcoins to your trading platform and put them up for sale to withdraw the winnings. Once the bitcoins are purchased, you can cash out the money using a bank transfer or other method you choose.