Bitcoin Bonuses
Chief Editor & iGaming Strategist
Bitcoin’s popularity can no longer be denied, and this applies to every industry it touches. Naturally, online casinos have not only embraced blockchain gaming, but they have also ushered in, being early adopters. Today, you can find all sorts of real money casino games that accept Bitcoin (BTC), but also multiple casino bonuses listed in BTC or mBTC.
The industry has grown excessively fond of the cryptocurrency, and naturally, finding a casino online with a Bitcoin bonus is not an issue. Even better, you can find licensed and trusted casino brands that players come back to time and again. To understand the Bitcoin casino bonus a little better, all you need to do is remind yourself that cryptocurrency or no cryptocurrency, all bonuses are subject to terms and conditions.
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How to Get Started with Bitcoin?
An online casino can offer a Bitcoin bonus, and this is possibly the simplest thing. Yet, the real question on a player’s mind is, how to get started with Bitcoin? Obtaining BTC is not complicated today. All you need to do is meet two conditions: find a crypto exchange and a crypto wallet.
Often, these two are available on the same website. The Bitcoin Foundation’s website will provide you with links for both. Once you visit the exchange, you can use FIAT currencies, as in USD, CAD, EUR, or another acceptable denomination, to purchase Bitcoin and receive it on your crypto wallet. Now that you know how to buy Bitcoin let’s take a look at what a Bitcoin bonus is.
Bitcoin Bonus Explained: Easy to Get Into
Many people expect a Bitcoin bonus to be at least a bit more complicated. While calculating the real money value of Bitcoin would require for you to keep an eye on the current market valuation, benefiting from a BTC promotion is a very straightforward endeavour. Put another way, you can think of it as a traditional bonus.
You will have a predetermined amount you can receive if you deposit a specific sum. Once you do, the bonus will be unlocked but, instead of receiving USD, CAD or EUR, you will receive BTC or perhaps mBTC. The millibitcoin is a smaller denomination of Bitcoin, as in 0.001BTC.
These numbers may look a little bizarre at first, but once you claim your Bitcoin bonus, it will all make sense. The bonus will naturally have terms and conditions, which will extend to the deadline, playthrough requirement, and maximum allowed bet.
Wagering Requirements: Check how many times you need to wager the bonus before you can withdraw winnings. Some crypto bonuses have higher playthrough requirements than fiat bonuses.
Game Contribution: Not all games contribute equally to wagering requirements. For example, slot games may contribute 100%, while table games like blackjack might only contribute 10% or be excluded entirely.
Minimum and Maximum Bets: Many bonuses come with betting limits while the bonus is active. Make sure these limits align with your preferred playing style.
Expiration Period: Bonuses often have a time limit for meeting the wagering requirements. A short expiration period might make it difficult to fully utilize the bonus.
Restricted Countries: Some Bitcoin bonuses may be available only in certain regions. Always check the terms and conditions to ensure you’re eligible.
Cashout Limits: Some crypto bonuses cap the maximum amount you can withdraw from winnings, which can be a disadvantage if you hit a big win.
Deposit Match Percentage: Just because a casino offers a Bitcoin bonus doesn’t mean it’s the best offer. Compare the percentage match and maximum bonus amount with other available promotions.
Bonus Type: Is it a deposit match bonus, free spins, cashback, or risk-free bet sports bonus? Each type serves different purposes, so choose one that suits your betting style.
Exchange Rate Fluctuations: Since Bitcoin’s value can be volatile, consider whether the casino locks the bonus amount in BTC or converts it into fiat at the time of deposit.
By evaluating these factors, you can determine whether a Bitcoin bonus truly provides value for your gaming experience.
All Types of Bitcoin Bonuses
Of course, online casinos offer many different types of Bitcoin bonuses. For example, a welcome bonus is very popular at Bitcoin casinos. There is no specific standard for how much BTC a bonus should offer but in general you will get a more generous bonus when using Bitcoin compared to fiat currency.
Some promotions will welcome you to as much as 5 BTC divided between several deposits. Other promos offer just 2 BTC, but the real way to tell which one is better is to ask yourself if you have the time to play through the bonus and whether the terms and conditions seem favourable.
Of course, there are other types of Bitcoin bonuses you will want to explore on your own. You can claim free spins and use on Bitcoin games or enjoy reload and cashback promotions, a loyalty promotion or a VIP offer.
Each of these bonuses comes with a set of terms and conditions to make it simpler for players to understand how to use a Bitcoin bonus. Once you have read through the conditions of most types of BTC promotions, you will know for a fact they are just like any FIAT promotion found on most casinos.
How Bitcoin Bonuses Differ from Traditional Casino Bonuses
Bitcoin bonuses may seem similar to standard fiat currency promotions, but they come with unique characteristics that can make them more or less beneficial, depending on your needs.
1. Higher or More Generous Bonus Amounts
Many Bitcoin casinos offer larger deposit match bonuses compared to fiat casinos. This is often due to lower transaction costs with crypto payments, allowing operators to pass on the savings to players.
2. Faster Withdrawals
Unlike traditional bonuses that may require bank processing times, Bitcoin withdrawals are often faster. Once wagering requirements are met, payouts can be processed within minutes to hours instead of days.
3. Volatility and Value Fluctuations
A unique challenge with Bitcoin bonuses is price volatility. If a bonus is awarded in BTC, its value can increase or decrease based on market fluctuations, which isn’t an issue with fiat-based promotions.
4. More Lenient or Stricter Wagering Requirements
Some Bitcoin casinos set lower wagering requirements due to the decentralized nature of crypto. However, others may impose stricter conditions to account for the potential increase in value over time.
5. Anonymous or Limited KYC Requirements
Many Bitcoin-friendly casinos offer bonuses without requiring full KYC verification, whereas fiat casinos typically require ID verification before allowing withdrawals.
Bitcoin Bonuses Are Available for All Games
Now, you will often see that Bitcoin casinos award a bonus in BTC, but then again, not all games display the betting values in this currency. What this means that sometimes casinos convert the Bitcoin value into FIAT currency, and let you bet with it. Of course, the deposit and withdrawal will happen in Bitcoin.
More casinos are beginning to implement games that display the betting currency directly in BTC. However, not all studios have enacted the change. Displaying bets as BTC depends on the developers of the games listed at Bitcoin casinos to extend support for BTC as one of the viable currencies.
Over the years, this small discrepancy has been the source of some confusion, but it does not affect the value of your bonus, and you can rest assured that it is completely safe to play with a recommended BTC bonus you have claimed.
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