Bitcoin has served players well at Bovada Casino ever since we began to offer it as a deposit and withdrawal method years ago. When you switch over to Bitcoin, you get more bonus cash for each deposit, and your transactions become both easier and faster. With all of these benefits, you may be wondering if there’s a downside to betting with Bitcoin. We’ll explain the positives and negatives in our Bitcoin pros and cons list. But first, we’ll go over how to use Bitcoin to play games in our online casino.
How to Play in the Casino with Bitcoin
After buying Bitcoin at an exchange, you may be eager to make your first Bitcoin deposit at Bovada Casino and collect that sweet 125% match bonus for up to $1,250. To deposit the funds, you’ll need your Bovada account’s address code—something you can pull up by following the prompts to deposit your cryptocurrency-of-choice (either Bitcoin or Bitcoin Cash are accepted) in your Bovada account. Copy and paste the address code into your digital wallet to send the funds over. It takes just 15 or 20 minutes to go through once confirmed.
When the deposit appears in your Bovada Casino account, it will be converted to US dollars automatically. This way your bankroll isn’t impacted by any spikes or dips in Bitcoin’s market value, and it also makes it easier to keep track of exactly how much money you have since you’re not trying to do mental conversions between the price of BTC compared to USD.
The Pros of Bitcoin Betting
There are many reasons why people gravitate to Bitcoin for their casino deposits and withdrawals, with the main one being the bonus cash that’s exclusive to Bitcoin players. All of our promotions offer bigger match bonuses with higher caps to Bitcoin players; our welcome bonus alone comprises three 125% match bonuses that are each good for up to $1,250 for a total of $3,750 in bonus money.
Deposits are another draw to Bitcoin. Failed credit card deposits have led to much frustration over time—something that’s unheard of with Bitcoin. When you switch to Bitcoin, your deposit is guaranteed to go through and make it into your account every time.
Nothing beats getting a fast payout when you’re playing in an online casino. Most people prefer not to have to wait several business days to get their withdrawal, and Bitcoin has made it possible to get paid on the same day that your withdrawal is approved on our end. When we process your withdrawal via Bitcoin, it only takes about 15 or 20 minutes to go through the blockchain and appear in your digital wallet, at which point, you hit up an exchange and convert the cryptocurrency to US dollars.
The Cons of Bitcoin Betting
There’s no question that every aspect of gambling is improved with Bitcoin, so the only “con” is putting in the effort to set up the necessary Bitcoin programs and accounts. Downloading a digital wallet and installing it onto your phone is the first step, while getting set up with an exchange account is the second step. There’s no getting around these requirements.
The first time you navigate these programs, you’ll need to familiarize yourself with the different buttons, including the “Send” and “Receive” ones. You’ll also need to learn how to generate address codes. If you want to really streamline the process, you may even want to practice scanning QR codes with your phone’s camera.
We realize that learning how to use this new technology is easiest when you can follow along with a video. That’s why we compiled six instructional videos on Bitcoin in our Video Library. Watch a guided lesson on Getting Started with Bitcoin to learn the basic steps that need to be taken to deposit Bitcoin into your Bovada account. With this knowledge, you’ll be better positioned to follow along with the videos on how to create a wallet, buy Bitcoin, create an exchange account and send and receive Bitcoin from your wallet.
The initial set-up requirements for Bitcoin take approximately 20 minutes, so in the grand scheme of things, it’s well worth the long-term investment that leads to better bonuses and easier transactions. We bet you won’t even turn back to the traditional deposit and withdrawal methods once you get going with cryptocurrency—it’s that smooth.