Bitcoin casinos began operating in January of 2009, a year after the currency was invented. While people doubted the staying power of the digital currency, especially with no authority governing the currency, it flourished. Nowadays, it is one of the most preferred payment options at New Zealand casinos online. As an alternative to using the dollars, you can play for real money without worrying about the safety of your personal details. Take a look at the benefits of Bitcoin gambling and choose from any of our recommended Bitcoin casino websites. Our Bitcoin gambling guide looks at a list of Kiwi casinos that use the deposit method and why you should consider signing up.
Most Trusted Bitcoin Casinos in New Zealand
What is a Bitcoin? Bitcoin Gambling Explained
Bitcoin is a virtual currency, meaning that it cannot be touched in the real world. This figurative coin can be ‘mined’ using codes and algorithms by computers. It has become a widely accepted medium of exchange around the world, with no regulatory authority. That is, there is no government and financial institution that regulates the price of Bitcoin. Essentially, it is dictated by the market forces of supply and demand, in which every transaction is recorded on a peer-to-peer Bitcoin network. Before you can gamble with Bitcoin, players will need to own a Bitcoin wallet. This is where players can track Bitcoin transactions. Here’s how Bitcoin works:
How Bitcoin Works – Bitcoin Guide for Beginners
In order to initiate any trade using Bitcoin, you need to own a virtual wallet to store the Bitcoin. Setting up a Bitcoin wallet is very easy and it can be done from the comfort of your own home. There are countless legal Bitcoin exchange operators in New Zealand that can help you own Bitcoins.
The Bitcoin value is different from one person to the other. This is because there are different ways that the Bitcoin virtual currency can be owned. You can own Bitcoin through:
- Players acquiring Bitcoins from a peer-to-peer sale.
- Buying Bitcoin using your credit card from any legal Bitcoin exchange agencies online.
- Players can mine the Bitcoin, a computerized mathematical algorithm that charges a cost for every transaction that is done using the currency. There are numerous exclusive Bitcoin gambling games that players can find at any Bitcoin betting sites in New Zealand.
NZ Bitcoin Games
The best Kiwi casinos have exclusive Bitcoin betting games as one of their trump-card under their sleeves. The gambling games are reserved for Bitcoin players, featuring exclusive Bitcoin bonus plays and state-of-the-art graphics. Bitcoin gambling has one of the biggest wins in history – an incredibly impressive 1% house edge on most games.
Bitcoin gambling sites offer a host of casino games that Kiwi gamblers have come to enjoy. This exclusive list includes the best Bitcoin slots and online table games like Bitcoin blackjack games, poker, and roulette. More than that, there are plenty of other benefits to playing at casinos that accept Bitcoin.
Benefits of Gambling with Bitcoin
We’ve collected a list of advantages of gambling at the best Bitcoin casinos in New Zealand:
- Quick and instant banking transactions.
- No withdrawal limits.
- Bitcoin NZ casino players don’t need to supply confidential information. They remain anonymous the whole time.
- Bitcoin banking transactions do not charge any fees.
- BTC casinos online are widely available across the world.
Things You Should Consider When Using Bitcoin
Cryptocurrency gaming has met limited criticism. However, players that want to play at Bitcoin casinos in New Zealand have to consider the following drawbacks:
- Bitcoin betting winnings are charged tax by the government.
- Online Bitcoin payments cannot be reversed once they are processed.
- Bitcoin gaming becomes tricky because the value fluctuates at the spur of the moment.
Brief Bitcoin History
Bitcoin was one of the first cryptocurrencies created when it entered the market in 2008. Created by Satoshi Nakamoto, a pseudonym for the group of people who created the cryptocurrency, it was first used as a payment for goods and services among their peers before they officially launched it to the world. Although it had its detractors, largely due to the fact that it is not regulated, Bitcoin gained prominence and over time, there were numerous licensed Bitcoin casino sites available.
For a safe and secure online gaming experience, head over to any of our trusted Bitcoin casino websites and win big.