Bitcoin is the digital currency that has gained momentum as a new deposit trend in casino industry where you can make a deposit and even withdraw with Bitcoins. Most of the online scratchie sites or online casinos have now Bitcoins on their list of banking options making it easier for Aussie and Kiwi players to enjoy scratch cards. Aussies like to use this new payment mode because it’s instant, secure and anonymous. This means you do not have to spend too much time fiddling with your bank accounts, or worrying for safety of your online transactions or for your privacy. It’s simple, quick and reliable.
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What are Bitcoins?
Bitcoin is simply a decentralized crypto currency, coined decentralized owning to the fact that it is not controlled by any financial institution, government or even backed by any bank. This purely digital currency thus have no notes or coins that can be used exclusively in online transactions. In this monetary system encryption is used to secure transactions and keep your transactions anonymous.
Is it legal for Aussies and Kiwi players to use Bitcoins at online casinos?
Lately Bitcoin has emerged as one of the most secure payment methods and now is easily available at online casinos as one of the payment options for AU and NZD players besides the most popular e-wallets as well as debit/credit cards.
Bitcoin is Legal to buy and transact in New Zealand and Australia.
The Reserve Bank of New Zealand states: “Non-banks do not need our approval for schemes that involve the storage and/or transfer of value (such as ‘bitcoin’) – so long as they do not involve the issuance of physical circulating currency (notes and coins).”
In Australia in December 2013, the governor of the Reserve Bank of Australia (RBA) indicated in an interview about bitcoin legality stating, “There would be nothing to stop people in this country deciding to transact in some other currency in a shop if they wanted to. There’s no law against that, so we do have competing currencies.” Australia has officially confirmed it will treat bitcoin “just like money” on 1 July 2017 and it will no longer be subject to double taxation.
It is legal for residents in Australia to gamble online, but it is illegal for gambling operators to offer their services from within the country. That means that online casinos operating in legal jurisdictions can offer their services to players in Australia.
The Australian government is all for the use of cryptocurrencies – if it is properly regulated for the safety of its citizens and there are systems in place to prevent money-laundering. On the topic of Bitcoin specifically, the governor of the Reserve Bank of Australia has commented that using Bitcoin is completely legal, adding “there’s no law against that”.
So that means you can use Bitcoins at online casino to play real money scratch cards.
Where to get Bitcoins from and how to store them?
To play at Bitcoin casinos you obviously need Bitcoins and the easiest way to get them is through a bitcoin exchange. So how that works is:
•Create a wallet at the bitcoin exchange: All you need is a verifiable email address to get started.
•Once you’ve selected and signed up for an exchange, you can begin buying or transferring money to your exchange bank account.
•Once money is deposited, you can choose to ‘Buy’ or ‘Trade’ the bitcoins,. The pricing will always vary depending on supply and demand.
•When the bitcoins are purchased, you can transfer your bitcoins from the bitcoin exchange to your wallets.
There are different methods through which you can purchase bitcoin. Also, there are many currencies you can use to buy bitcoin from different exchanges. After buying bitcoins you will be allowed to use them anywhere you want and enjoy anonymity and safety. Another thing is that you can exchange your bitcoin into fiat currency through any of your selected bitcoin exchanges online.
How to play with Bitcoins at online scratchie sites
Whether they are scratch cards, pokies, table games or live dealer games at Bitcoins online scratchie sites or online casinos, they can be played with Bitcoins without any effort. Like you generally play casino games at any friendly online casinos in same way you play with Bitcoins. All you need is to go to Bitcoin casinos or online casinos that have BTC as currency of deposit listed in their banking page like 7 Reels Casino or Rich Casino. When playing real money Scratch cards or Pokies simply choose BTC as your mode of payment at Bitcoin casinos. The Bitcoin casinos will convert your bitcoin into their base currency that is AUD or NZD and the exchange rate will be boldly displayed in the bank interface on the site.
Although you can’t use a bank account, credit card or cheque, avoiding the conventional banking system means transactions are faster. Using conventional currency, cashouts can take days, and cheque deposits up to a week. Bitcoin transactions are usually complete within minutes and have no transaction costs. All transfers are peer-to-peer, so there are no middlemen to pay. Multi-currency casinos often make charges to deposit or withdraw using a credit card, and the providers themselves may have fees. The same can be true for e-Wallets and banks.
Finding the best Bitcoin casino
Before signing up at Bitcoin casinos you should check the following:
•Bitcoin casinos should be licensed and regulated by authentic gambling commission.
•The casino should have a provably fair system, and/or uses games from reputable traditional casinos. A provably fair system uses cryptographic techniques to determine the authenticity of a roll and ensure that neither the game, nor the player knows the outcome of a roll prior to the bet.
•Bitcoin casinos should offer great promotional offers and BTC bonuses.
•The game play and interface should be user-friendly and can be played with various devices like mobile and tablet.
Playing at Bitcoin casinos gives much joy as you can make can deposit and withdraw anonymously without the need for any third parties or middle men. Also you can play with high or low credit according to your budget in a fast deposit and withdrawal environment. Moreover, when making cashouts, there is no need for any ID proof and with loads of BTC bonuses at Bitcoin casinos greater chance to make some wins when playing slot games. With 24.7 help support Bitcoin casinos are now much on demand and are appreciated by Aussies and Kiwi players.