Bitcoin is a cryptocurrency or digital money system that is used across the globe. This implies that Bitcoin doesn’t take physical forms like bills or coins; instead, it’s stored in wallets and traded on BTC exchanges. One outstanding feature of Bitcoin is that it uses a decentralized blockchain system that makes Bitcoin transparent and unanimous at the same time. This system ensures that no government or any other authority controls or issues BTC. It has no central bank and runs solely in the peer-to-peer market.
Bitcoin gambling has become widely popular over the recent years with more NZ casinos accepting Bitcoin as a form of currency. Most online NZ casinos used to deal with traditional currency but are now incorporating BTC as a form of deposit that Kiwi punters can use. This type of online casinos has been referred to as hybrid casinos. There’s another type of NZ casinos however, that deals exclusively with bitcoins and is rapidly growing in popularity among NZ players due to its efficiency and fast processing speeds.
How to Gamble using Bitcoins
The top NZ gambling sites will allow bitcoin deposits which are then converted to fiat currency to play real money BTC games and convert it back during cashing out. Some top casinos will offer Bitcoin games that allow NZ punters to play with Bitcoin using Satoshis rather than fiat currency. These games which include dice games, card games, live dealer games, and standard casino games generally incorporate the Provably Fair model of gaming. Provably Fair games are one major perk of Bitcoin games which allows Kiwi punters to verify every bet to ensure that it was fair.
Fast deposits and withdrawals is one of the many perks enjoyed by NZ Bitcoin users. When you gamble with Bitcoin, you avoid the hassles that players gambling with fiat currency go through since Bitcoin isn’t regulated by any government or banking institution. You can expect fast deposits when using Bitcoin since all you require is to give it around 10 minutes for the transaction to be verified on the blockchain. In some cases, the process is almost instant. Cashing out using Bitcoin is quite as easy. All you need to do is provide the amount you wish to cash out along with your Bitcoin wallet address.
Most NZ online casinos use third-party payment services for deposits and withdrawals thus incurring players some standard amounts in form of transaction fees. Bitcoin users avoid these additional fees since there’s no third party needed. Nonetheless, some minor fees are collected at the blockchain but don’t go to the casino.
Additionally, most casino sites will treat NZ players to exclusive bonuses and promotional offers for depositing using bitcoin.
Bitcoin offers NZ punters one of the fastest and safest ways to deposit money into a gambling site. This form of currency ensures your money is free from government and bank regulations which means your money cannot be frozen nor accessed by any other individual or entity. This is turning out to be the future of online casinos in NZ with more casinos adopting this form of currency. The only downside could be the limited number of casinos in NZ who accept Bitcoin deposits on their site. Nonetheless, we can expect this number to rise rapidly in the coming months.