Our guide to the best Bitcoin Cash casinos provides all you need to know about this cryptocurrency. These are the top Bitcoin Cash gambling sites 2020.
This is where you will find access to the best Bitcoin Cash casinos. Another cryptocurrency that people love to use to fund their online casino accounts anonymously.
Read on for more information about Bitcoin Cash, the increasingly popular cryptocurrency. All the facts, pros and cons, and the best casinos to use your funds at.
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Cryptocurrency, particularly Bitcoin, is becoming a popular way to fund online casino experiences.
They’re now among prominent options among traditional payment methods like Neteller, Skrill, Mastercard and Visa, among others.
Bitcoin Cash, or BCH is one of the rising new stars in the world of cryptocurrency.
However, it’s important to note that it’s not Bitcoin per se, but rather a type of cryptocurrency coin you can use to add to your casino account balance.
What is Bitcoin Cash? A Brief History
The reason why Bitcoin Cash is named as such is because of its origins. In 2017, the original blockchain system split off in many parts, one of which was BCH. Building on the namesake and momentum, Bitcoin Cash quickly gained prominence and enjoyed its own following.
One of the issues that became apparent was that the system proved to be unsustainable. Payment traffic and increasing number of users overwhelmed the blockchain, and two groups were formed.
One wanted to fix the scalability of the cryptocurrency while the other wanted to keep its characteristics, namely the decentralization, anonymity and security aspects. This event became known as the ‘hard fork’.
Prominent Bitcoin figures wanted to increase the coin’s block size in order to improve use and transaction speed. The opposing party wanted to keep it at 32MB. The issue caused a rift between parties allowed a new and separate digital currency to be formed.
Bitcoin Cash, or otherwise known as BCH also has a name – the Adjustable Blocksize Cap. A year later in 2018, Bitcoin Cash split into two versions with the main difference being block size.
How Does Bitcoin Cash Work?
Bitcoin Cash shares plenty of similarities with the Bitcoin we know and love, including function and application.
Send & Receive
One important ability of BCH is its send and receive feature via P2P, or a peer to peer network. Being a decentralized currency, there’s no need for the digital asset to pass through third parties such as a mediator or a bank, for example.
Bitcoin Cash owners can transfer the amount of crypto currency they need to a receiver no matter where they are in the world. With this convenience comes an added benefit- transactions fees are minimized and you can ideally spend more.
Payment Method
Bitcoin Cash can be added as a method of payment in online casinos. As of the moment BCH is gaining momentum but the number of online platforms that accept it are increasing.
Web shops and sites are opening up to the idea of cryptocurrency as a legitimate mode of payment. Some even have services in place to convert crypto coins into fiat money (USD and euros).
In the same vein, charities from all over have begun accepting Bitcoin and Bitcoin Cash as donations for their cause.
Investment
Cryptocurrency is now among goods that can be invested on, just right beside stocks and bonds for instance. It’s much more volatile compared to others, and highs and lows can occur within a short period of time.
Investors view crypto coins as an opportunity to make more money, while others see digital coins as the future. In technical terms, the difference between Bitcoin Cash and Bitcoin is the speed of transactions and cost. BCH is cheaper, faster and thus makes for an excellent alternative to BTC.
A Bitcoin Cash online casino is an establishment that can accept BCH as a mode of payment. Online casino sites operate much like their brick and mortar counterparts, even right down to the banking aspect.
However, it’s a bit more complicated than simply handing over your money and getting chips to spend on your favorite games. Instead of a physical wallet, you store Bitcoin Cash into an e-wallet which may then be used to procure goods, services and yes, funding in your online casino of choice.
Once you’ve tried depositing funds, playing games and withdrawing your winnings, everything becomes second nature. Also, if you’re familiar with transferring money via PayPal Casinos, then you’ll be right at home with Bitcoin Cash.
Countries that Can or Cannot use Bitcoin Cash to Fund an Online Casino account
BCH, or Bitcoin Cash is a newer cryptocurrency and thus has fewer followers, and for this reason many casino sites hasn’t adapted to it just yet. This is at the time of writing this article of course.
Regulatory concerns and the different rules per country concerning cryptocurrency means Bitcoin Cash is not accepted worldwide. In some countries the use of crypto coins like BCH is banned. Knowing which country accepts them and which ones don’t is key to unlocking Bitcoin Cash’s full potential.
To complicate things, some countries have laws and restrictions in regards to online gambling.
A classic example is the US Unlawful Gambling Internet Enforcement Act, which says that internet gambling platforms are not allowed to accept payment in states where it’s not allowed. In Washington it’s considered a felony and thus, you may not use Bitcoin Cash to fund your casino account when you live in this state.
Offshore casinos, or those that are located outside the US are not immune to the UIGEA rule. Many won’t allow US users to gamble on their site as they risk heavy sanctions and penalties. Online gambling is not allowed in certain countries, and its government has deemed that all form of gambling is illegal.
Top BCH casinos will have a list of countries and users that can transfer Bitcoin Cash into their account and start playing. If you live in a country where online gambling is accepted, and the casino platform you play in accepts BCH then it’s safe to say you can go ahead and transfer the funds as needed.
Make sure to read up on the rules of both your state or country and that of the internet casino site before proceeding.
Benefits of Using Bitcoin Cash for Online Casino Transactions
If an online casino accepts Bitcoin Cash, you can expect the following advantages:
Lower Fees
BCH is relatively low-cost compared to other traditional casino banking options. The transaction itself and user fees in online casinos are minimal and negligible compared to fiat currencies.
Fast Transactions
Having a larger block size equates to a faster transaction speed, something that BCH has in spades. It’s bigger than Bitcoin in some ways and can come in handy when you need to relax and unwind at the end of a long day as soon as possible. Payout speed is of paramount importance to online casino players and Bitcoin Cash can provide the fastest casino payouts when available.
Credit cards are still the fastest in terms of posting time and gambling deposits. However, Bitcoin Cash comes in close and is less likely to be rejected. BCH deposits can be posted within minutes and up to half an hour.
Anonymous
Not all casino players want to make their hobbies known to the world, and for this reason BCH is a great solution. The BCH network only identifies wallets by their addresses and not personal data like email, name and bank information. As long as you keep your casino account safe then your identity remains as anonymous as you’d like.
No Bank Control
The decentralized aspect of Bitcoin Cash means financial institutions and governments won’t be able regulate them. In addition, BCH isn’t controlled by any single entity, which means you’ll have more freedom to choose where you spend them on. Meanwhile, you may experience the following disadvantages:
Volatile Asset
Bitcoin Cash value is volatile and can fluctuate or deflate in days, hours or even minutes. In order to make the most of BCH you will need to buy low and sell high for maximum profits.
In general, credit cards are much simpler in that they’re tied to your country’s currency. You simply enter your card number, expiration date and security code and the funds should be added in no time.
Not As Popular as Bitcoin
Bitcoin is still the most popular cryptocurrency around, and the best casino sites will most likely offer BTC as a method of deposit.
Bitcoin Cash falls further down the line and isn’t as widely accepted. You will need to check the casino site’s accepted forms of payment before buying BCH so you won’t waste time or money.
Do I Need a Bitcoin Cash Wallet? How Can I Fund My Bitcoin Cash Wallet?
Bitcoin Cash is a cryptocurrency that can be used as deposit in online casinos that accept them. You will need a wallet to store and manage BCH and other tokens.
Here are a few ways on how you can get some Bitcoin Cash.
- Mining Bitcoin Cash
- Get part of your salary or services in Bitcoin Cash
- Accept BCH as a method of payment
- Buy them via a reputable exchange or broker
It’s best to understand the process and the tools you need before embarking on a Bitcoin Cash transfer. Buying BCH is similar to when you’re buying a prepaid card or making a transaction with a credit card.
The step-by-step is as follows:
Buy Bitcoin Cash
You can get BCH by buying from someone who has it or via an exchange platform. Investors often use online exchanges to get significant amounts of Bitcoin Cash and other cryptocurrencies in exchange for fiat money.
Pick the amount of BCH you want and the accepted payment methods. Hit the ‘Submit’ button and wait for the digital asset to arrive in your digital wallet.
Store Your Bitcoin Cash
A hardware or software wallet may be used to store BCH. Hardware wallets are offline and physical devices that can hold crypto coins, while software wallets are usually in the form of apps. Both can be used to hold your digital assets for as long as you want.
There’s quite a lot of digital wallets out there so you’ll have the luxury to choose the one that’s accepted in online casinos.
BCH Online Casino Deposits & Withdrawals
Once you have enough Bitcoin Cash stored in your digital wallet you can go ahead and sign up at the online casino of your choice. Read the site’s instructions on how to do it so you can get gambling right away.
Register, then log on and go to the ‘Banking’ section. Under the ‘Deposit’ page check for the accepted cryptocurrencies and select ‘Bitcoin Cash’.
A new window where you can put in your wallet’s keys should come up. Withdrawals are done the same way. Head over to your account dashboard, then select ‘Withdrawals’.
Choose where you’d like the money to go and in what form (BCH). Confirm the amount, hit ‘Submit’ and wait for the money to arrive.
Are There Any Fees to Using Bitcoin Cash?
Cryptocurrencies as a whole offer a decentralized payment method. By eliminating intermediaries and banking institutions the end result is lower fees and an elimination of commission costs.
Bitcoin Cash usually come with two fees- the transfer and user fee for the online casino. The fee for completing a transfer is significantly cheaper compared to traditional banking methods, much like with Bitcoin.
Most gaming sites charge 15% in credit card processing fees and charge less for Bitcoin and other cryptocurrencies. By opting to use BCH, fees are very minimal to none and shouldn’t affect your deposit decision.
Is Bitcoin Cash Safe and Secure?
In general, cryptocurrencies are almost impossible to hack into as they’re comprised of blockchain technology. It’s an immutable platform that’s more secure than PayPal, debit cards and banking transactions. Moreover, the lack of a third party makes it impervious to interruptions from malicious entities.
Conclusion – Bitcoin Cash Casinos
As the world adapts to digital coins Bitcoin Cash is set to rise and become a popular form of payment. With faster and lower transaction fees, BCH and crypto coins in general are poised to disrupt fiat money and traditional financial institutions.
You can expect your favorite online casino to start accepting Bitcoin Cash anytime soon, if not already accepting at the moment.
As usual, have fun and please gamble responsibly.
