As a result of the intense competition in the casino industry — which is arguably the most intense — all participants are doing whatever it takes to stay afloat with the idea of keeping their customers. One way to do so is through Bitcoin casino bonuses.
To entice new members and keep existing ones engaged, they implement a variety of incentives into the system. Today, I’m only interested in bitcoin casino platforms, and if you want to understand how a Bitcoin bonus works, you must first understand the mechanics of it.
What Is a Bitcoin Casino?
Most online casinos use fiat currency as a way to pay for things. Whether you use UK sterling, US dollars, or Euros to fund an online casino account through PayPal or a debit card, you’ll use fiat currency. Aside from fiat currencies, there are crypto casino sites that use cryptocurrencies as their in-game currency, meaning that they don’t have to worry about credit card numbers and bank account information being stolen by third parties.
Bitcoin is among the most popular cryptocurrencies out there, which is why people who live in countries with harsh governments and strict gambling laws like crypto casino sites. With crypto gambling, the government can’t see what people are betting on because everything is done through blockchain technology.
This technology makes crypto casinos one of the safest ways to gamble online. Moreover, it gives them an advantage over traditional fiat casinos, where players have to share their personal financial information. On the other hand, crypto gambling sites have some downsides, like not being able to deposit with fiat currency and the risk that comes with using digital currencies.
What Is a Bitcoin Bonus?
Bitcoin came out in 2008, right after Occupy Wall Street said that big banks were misusing borrowers’ money, tricking customers, rigging the system, and charging outrageous fees. Bitcoin’s founders wanted to put the seller in charge, eliminate the middleman, get rid of interest fees, and make transactions clear. They also wanted to reduce corruption, make the network more valuable, and cut fees. So they made a system that didn’t depend on banks and let people control their own money and know what was going on.
In a short amount of time, Bitcoin has made great progress, and now its currency is accepted by businesses worldwide, from the US jewelry store REEDS Jewelers to a private hospital in Warsaw, Poland. In addition, companies with billions of dollars like Dell, Expedia, PayPal, and Microsoft have started doing the same thing. Namely, Bitcoin has its own exchange rate, price index, and application programming interface (API).
Thieves breaking into accounts, high volatility, and slow transactions are all problems. On the other hand, Bitcoin may be the most reliable way for people in third-world countries to send or receive money.
How Do Bitcoin Bonuses Work?
If you’re unsure how bitcoin bonuses work, don’t worry, I’ll provide all the essential information in this section. Online casinos usually use millibitcoin (mBTC) as their currency because it’s the most like a dollar, euro, or pound.
If you want to cash out your bonuses, you must meet certain conditions, such as wagering requirements or rollover. Namely, the wagering requirement is the number of times your bets need to be higher than the bonus amount itself. For example, let’s say you can get a bonus of $500, where the rollover requirement could be x30. Before you can cash out your bonus, you’ll need to bet a total of 30 times.
Some casinos with shady practices have big bonuses but ask for a high rollover because they’re trying to make players avoid checking the terms and conditions. Therefore, before you start wagering your money, go through the casino’s T&C section to get all the necessary information.
How to Get Bitcoin Bonuses?
The online casino market is highly competitive and has a distinct organizational structure. Platforms, games, licenses, and support are all provided by separate companies. What remains is to create an original brand story or theme and offer various bonuses.
Bitcoin casino bonuses and promo codes can be used as a marketing tool. What’s more, using these incentives, casinos can entice new players to sign up for their site instead of someone else’s. What you should know is that these bonuses have been carefully crafted to keep the house as profitable as possible. These venues have done a lot of research and discovered that a lot of things are working in their favor, so they’ll end up with more money.
To get a Bitcoin bonus:
- 1. You have to own bitcoins and find casinos that accept BTC.
- 2. When you select a casino, you have to send your bitcoins to them.
- 3. Once you know the wallet address of a certain casino, you have to go back to the exchange where you bought your BTC.
- 4. You have to choose the send option and enter the casino’s digital wallet address.
- 5. Lastly, enter the funds you want to deposit and confirm the transaction.
Types of Bitcoin Bonuses
In this section, I’ll go over Bitcoin bonuses you can use to try out online casino games.
Deposit Bonus
To the dismay of traditional online casinos, bitcoin casino platforms reward their users for simply signing up for an account. Players can get a few promotions that give them a chance to win real money. But to cash out, you must first place a bet and win at least one wager. A common practice is to offer 100% of the deposit you’ve made. Note that these bonuses have wagering requirements.
No Deposit Bonuses
Unlike traditional online casino websites, bitcoin casino platforms let members get bonuses even if they don’t make deposits. You will, however, be eligible for some promotions that give you a chance to win real money after you’ve completed playthrough requirements. Using this type of bonus, you can try out certain casinos and choose whether or not you’ll play there.
Free Spin Bonuses
Many offer free spins, and you should know that there are different kinds of free spin bonuses:
- Free spins that require a deposit.
- Free spins that don’t require deposits.
- Free spins that are given to regular customers as a reward for their loyalty.
To be able to withdraw winnings using a free spin bonus, you have to bet on your spins a certain number of times. Also, this kind of bonus comes as an email offer (check terms and conditions). A slot game’s bonus round can also give you free spins, but only if you’re lucky enough to get it.
Bonus Codes
For this offer to work, eligible people must enter a specific code when they make their first deposit to get a bitcoin bonus. This is relatively new, but the thing is that bonus code deals give players more bonuses than the ones we talked about above. But not all bitcoin casinos offer this kind of bonus in the form of a code. Some would post a link instead.
Faucet Bonuses
The faucet bonus is a special offer from bitcoin casino platforms. It’s a reward system that makes a special page where eligible bettors can go to claim this bonus. Bitcoin casino platforms use faucet bonuses to attract new members and make gambling more fun for everyone by giving tasks to players. But you’ll have to do some things to be eligible. If you make it through, you’ll get a certain amount of cryptocurrency (not necessarily BTC). More precisely, you’ll get a piece of a Bitcoin in the form of one-time payment or recurring payments, depending on the tasks you’ve completed.
Conclusion
Most of the time, a bitcoin bonus at Bitcoin casinos is better than one at a casino that uses fiat currency. Even casinos that take both Bitcoins and regular money tend to prefer Bitcoins.
The amount a player gets is based on how much money they put in, and this amount builds up over time. For example, if you deposit the same amount, you might get a bonus of 5 BTC. But, it’s impossible to get all these Bitcoins at once. Instead, you must place bets to earn them. You could win 0.5 BTC for every 20, 50, or 100 BTC you bet, which doesn’t sound as exciting as a traditional welcome bonus, but it means you have to meet your wagering requirements to get your bonus.
In the long run, it stays the same. You’ll get more credits if you spend a lot of money on bets. So, if you want to find the best Bitcoin casino bonuses and coupon codes, read the terms and conditions section to avoid problems in the future.
FAQ
How do I use a bitcoin casino bonus?
Most bonuses will require you to enter a bonus code to get them. You can usually find this bonus code on the casino’s website or in the terms and conditions. After you enter the bonus code, it will be added to your account, and then you can start playing.
Does a bitcoin bonus come with any restrictions?
Yes, bonuses usually have some rules about how they can be used. Some bonuses can only be open to players from certain countries or those who deposit a certain amount. Before you claim the bonus, make sure you read the terms and conditions, so you know what the limits are.
