The Best Bitcoin Casinos for NZ Players
Bitcoin is no longer a realm of a select few who understand who the digital currency operates. Today, you don’t even need to understand the technology that powers Bitcoin to use it as a payment method.
It did not take players long to understand the various advantages of playing with Bitcoin. Bitcoin has proved to become a great alternative to using fiat currencies such as EUR, USD, and NZD. Today, many players in New Zealand prefer using Bitcoin for the anonymity it offers and transaction speed.
If you don’t know much about using Bitcoin at online casinos, we can answer all your questions and clear all your doubts. We have also handpicked the best Bitcoin online casinos for NZ players.
If you want to play with bitcoins, you only have to choose one of our selected BTC online casinos and register a gaming account.
The Bitcoin Story – What Bitcoin Is and How It Works
As previously mentioned, you don’t need to understand the technology that powers Bitcoin in order to use it. To get started, you have to install a Bitcoin wallet on your mobile device or desktop computer.
When you do this successfully, you also generate your first Bitcoin address. You can create as many addresses as you wish and use them whenever you need them. Your Bitcoin wallet works just like an email address. You have to provide your Bitcoin wallet address to the person or company you want to receive payments from.
Brief History of BTC
Bitcoin is the world’s first decentralized currency. The creator of Bitcoin, who goes under the name of Satoshi Nakamoto, is a figure shrouded in mystery. Many believe that he is not an individual, but a group of people involved in the creation of Bitcoin.
Bitcoin.org went live on Aug 18, 2008. On Oct 31, 2008, Satoshi Nakamoto published a white paper on Bitcoin, titled “A Peer-to-Peer Electronic Cash System.” This paper provides details of the working of Bitcoin, which Nakamoto described as an electronic transaction system that requires no trust.
The Bitcoin network was born on Jan 3, 2009 when Satoshi Nakamoto mined the first Bitcoin block and earned 50 bitcoins for his efforts. The first open-source Bitcoin software was released on SourceForge on Jan 9, 2009.
The world took several years to accept Bitcoin, and today it has become a popular payment method. Microsoft started accepting payments in Bitcoin on Dec 11, 2014. Soon, many more companies, business establishments, land-based casinos, and online casinos started accepting Bitcoin payments.
How Bitcoin Works
To understand the working of Bitcoin, you have got to understand the following:
- Block Chain:This is a shared public ledger on which all Bitcoin transactions are confirmed.
- Transaction:A transaction takes place when value is transferred from one Bitcoin wallet to the other, the records of which are stored in the block chain. Each transaction is signed with a private key, which serves as proof that they were initiated by the wallet owner. Transactions are confirmed in 10 – 20 minutes via a procedure known as mining.
- Mining:Mining is a system through which all transactions are confirmed and included into the block chain. Through mining, transactions are packed in blocks that conform to strict rules. This prevents the modification of previous blocks. No individual or group of individuals can control any part of the block chain or modify a block to their advantage.
Advantages of Betting with Bitcoins
The following are some of the advantages of betting at NZ online casinos with bitcoins:
- Anonymity– Bitcoin offers a certain degree of anonymity to both players and online casinos. You don’t have to reveal your personal or financial details to use bitcoins at online casinos. Online casinos also won’t demand copies of identification documents for purposes of verification at the time of withdrawal.
However, you will have to undergo a verification procedure if you are withdrawing a large amount of money.
- Excellent Alternative Deposit Method– Gambling is either illegal or a grey area in a number of countries around the world. In such countries, banks tend to decline credit card transactions.
In such a scenario, Bitcoin serves as an excellent alternative payment system. Bitcoin is not under the control of any bank, financial institution, or government. So Bitcoin transactions do not require the approval of a bank or government. You also don’t need any credit/debit card for Bitcoin transactions.
- Instant– Bitcoin deposits and withdrawals are instant. In case of electronic wallets, the deposits are instant, but the withdrawals may take up to 72 hours. But Bitcoin allows you to instantly withdraw your winnings to your Bitcoin wallet. This means that you may have to wait anywhere between 20 minutes to 3 hours for your transaction to get confirmed.
Whenever you use Bitcoin for withdrawals, you will have to pay a fee. You can select your own fee amount. You can also request a withdrawal for free. If you choose to withdraw for free, you will have to wait for a longer time for confirmation.
- Easy– Using Bitcoin is really easy although the technology powering it may appear complicated. If you know how to send and receive emails, you will not find it difficult to send and receive Bitcoins.
How to Deposit at NZ Online Casinos with Bitcoin
When you are ready to sign up at one of our recommended online casinos for NZ players and make a Bitcoin deposit, you can follow these steps:
- Create a Bitcoin Wallet – There are several types of Bitcoin wallets to choose from, but we suggest creating a web wallet as it is easy, convenient, hassles free, and requires no download. However, if you are looking for added security, you can set up a desktop wallet.
Once you successfully set up a Bitcoin wallet, you will receive an address, which you can use to make and receive payments.
- Getting Bitcoins – In order to make an online casino deposit, your Bitcoin wallet should be loaded with bitcoins. You can either purchase Bitcoins or exchange traditional currency for Bitcoins at exchange services such as Bitstamp. Alternatively, you can withdraw Bitcoins at a Bitcoin ATM, get them personally from someone you know, or even mine Bitcoins if you are in a position to do so.
- Create an Account at an Online Casino with BTC – We have recommended a number of casinos that accept Bitcoin. You just have to read our reviews, compare various online casinos, and choose one that best suits your needs.
- Navigate to the Cashier – Your next step is to visit the casino cashier and choose Bitcoin as your preferred payment method. You will then receive the online casino’s Bitcoin wallet address.
- Send Bitcoins – Navigate to your Bitcoin wallet and choose the Send Money option. Type the number of Bitcoins you would like to deposit, paste the casino’s BTC wallet address, and confirm the details.
You will soon see your Bitcoins in your online casino gaming account.
How To Make Withdrawals With Bitcoin
Withdrawing your winnings using Bitcoin is very easy and involves the following steps:
- Visit the cashier of your NZ online casino and choose Bitcoin as your withdrawal option.
- Provide your Bitcoin wallet address to the online casino.
- The online casino will transfer your winnings to your account.
- You will soon see your Bitcoin winnings in your wallet.
Popular Online Bitcoin Casino Games for NZ Players
You will find a wide range of games at Bitcoin casinos. These include gambling games, casino games, sports-based betting, spread betting, and online lotteries.
Bitcoin casinos are of two types:
- Bitcoin only casinos and
- traditional casinos that offer Bitcoin as one of their payment options.
The options at Bitcoin-only online casinos are fewer. Since Bitcoin is highly volatile and unregulated, a number of noted software providers steer clear of it. So you won’t find too many games at Bitcoin-only online casinos.
On the other hand, traditional online casinos that offer Bitcoin as one of their payment methods offer a wider range of games. They partner with multiple software providers such as Betsoft, NetEnt, PlayNGo, Thunderkick, NextGen Gaming, and others to give you large game libraries. You can choose from slots, table & card games, video poker games, progressives, and other online casino games.
Q1: Do Bitcoin online casinos in NZ offer bonuses?
A: Yes, they do. In fact, we make it a point to recommend only Bitcoin online casinos that offer generous, but easy-to-clear bonus offers.
Q2: Do Bitcoin casinos report my winnings to tax authorities?
A: No, they do not. Bitcoin online casinos are more concerned with providing a safe and anonymous gambling environment. The responsibility of reporting your winnings to tax authorities, if required, is totally yours.
Q3: Can I play Bitcoin online casino games for free?
A: Yes, you can. Bitcoin online casinos function just like traditional online casinos. Most of the games are available in the fun, free, demo, or practice modes. You can play for free as much as you please.
Q4: What is the minimum/maximum amount I can deposit and withdraw?
A: Deposit and withdrawal limits vary from one Bitcoin online casino to the other. Some online casinos allow you to set your own deposit limits. At some online casinos, you can withdraw a higher amount if you achieve the higher levels of the VIP Club.
Q5: How good is the customer support at Bitcoin online casinos?
A: Customer support at all the BTC casinos we recommend is excellent. You can use live chat or send an email or call the online casino. The response is always quick, courteous, and helpful.
Differences between Traditional Casinos and Bitcoin Casinos – Which is Better?
Bitcoin casinos resemble traditional casinos in many ways, but there are a few differences you must make a note of in order to avoid disappointment in future.
The biggest advantage of playing at Bitcoin casinos is Bitcoin. You can use Bitcoin to make deposits and withdrawals. You can place bets on Bitcoin online casino games.
If you reside country where online gambling is either illegal or a grey area, Bitcoin online casinos are the best options for you. You can make deposits and withdrawals quickly, easily, instantly, and anonymous, and it won’t even cost you much.
But there are a few downsides as well. Bitcoin-only online casinos usually operate without a license because regulatory bodies require them to follow strict KYC procedures. If Bitcoin-only online casinos demand personal details from their players and request them to submit identification documents at the time of sign up, they will not be able to deliver the authentic anonymous gambling experience. So Bitcoin-only casinos either operate without a license or get hold of a license from a regulatory body that is not too particular about KYC procedures.
If you sign up at a traditional online casino that supports Bitcoin, you will still have to submit your documents to the online casino especially if you win a large jackpot that you want to withdraw right away.
As Bitcoin online gambling experts, we suggest traditional online casinos that offer Bitcoin as one of their payment methods. Although they do not offer 100% anonymity, you can rest assured of a safe, secure, licensed, and well-regulated online gambling environment. Since these casinos can partner with more software providers, you can choose from a wider range of online casino games.
Conclusion – Start Playing with Bitcoins Now
Now that you know so much about playing online casino games with Bitcoins, you can get started right away. We have listed the best of the best NZ online casinos that offer Bitcoin as a payment method. Some of our selected online casinos also support other digital currencies such as Bitcoin Cash, Litecoin, Dogecoin, and Ethereum.
You just have to check out our reviews and choose an online casino that best suits your requirements. Create an account, make a Bitcoin deposit, grab your bonus, and start playing your favorite online casino games.