The cryptocurrency market is growing at a rapid rate, so you shouldn’t be too
concerned if you feel a bit overwhelmed by all the information thrown at you
these days. Between Bitcoin, Litecoin, Ethereum, and every other new
blockchain-based currency joining the fray, it is hard to stay on top of it all.
We are here to help you wade through the clutter of information to understand
cryptocurrency at its root and how it is a great way to manage payments with
online gambling sites. Whether you like to play poker, bet on sports, or play
your favorite casino games online, these new currencies are meant to help you
get money to and from a site. This page is focused on Bitcoin Cash, which is a
form of cryptocurrency that has recently launched and is now challenging other
currencies to be the leader in the payment space.
There is a lot of detail that we could go into, but for the purposes of this
page, we are going to keep it as simple as we can. Bitcoin Cash (BCH) is being
added to many gambling websites as a payment option, so we want you to know the
Bitcoin Cash is a newer currency compared to many of the other
cryptocurrencies you can find on the market today. As a result, there are fewer
sites that accept it than traditional Bitcoin (BTC). Our team of experts
examines all the payment methods available at every site we review, and we are
constantly on the hunt for sites that are integrating BCH into the fold. We have
highlighted some of our favorites above, but if you want to read even more of
our reviews, we definitely recommend you check out the reviews section of our site.
What Is Bitcoin Cash?
There is a lot of confusion out in the market about Bitcoin and Bitcoin Cash.
Let’s try to clear a few things up here for you. Bitcoin has been around for
almost a decade and was the first cryptocurrency to come from new, decentralized
blockchain technology. However, over the years, Bitcoin transactions have become
slower and more expensive, causing many within the community to
debate the merits of improving the underlying network. To make a long story
short, in August of 2017, a group of developers created a hard fork, or split,
in the open-source platform, creating a new cryptocurrency that would be able to
process transactions faster and cheaper than its predecessor. That currency is
called Bitcoin Cash (BCH for short).
How to Buy BTC and Use It for Depositing at a Gambling Site
Now that you have a little more clarity on the background of BCH, let’s talk
about how you get some so that you can use it for your favorite gambling sites.
It is a relatively pain-free process, but we want to walk you through it so that
there is no confusion.
Open a cryptocurrency wallet
Enter your banking information
Locate and purchase Bitcoin Cash
Find sites that accept BCH as payment
Connect your gaming wallet with your crypto wallet
Play your favorite games!
Open a Cryptocurrency Wallet
This may have sounded like science fiction only a few short years ago – open
a digital wallet to buy a digital currency that you will never see in real life,
and then use it to play digital games on your phone or computer. Well, these
days, it is easier than ever, with dozens of available wallets for use. Bitcoin
Cash has many that they recommend, including:
All of these wallets are relatively similar in structure, and if they are
listed on the Bitcoin Cash website, then you should feel comfortable using them.
Enter Your Financial Details
Okay, great, you have chosen a wallet provider. The next thing you have to do
is attach some personal information to your account. Remember, the majority of
your transactions from here on out will be encrypted, but there needs to be a
place where you connect the traditional currency world to your digital wallet.
Here, you can choose to fund your wallet with a credit card, debit card, or
other forms of payment. You should be aware that using a credit card may limit
the amount of BCH you can purchase at one time.
Once your account is funded, you can get to making your purchase! The crypto
wallets are all set up like any investment site. There is an exchange on which
you can search for BCH, and there you will see the current value of the
currency. From there, you can simply select how much you want to purchase, and
you will see that amount listed in your wallet. Congratulations, you now own
Find a Gambling Site That Accepts BCH
We have already discussed that our reviews come with a comprehensive look at
all the ways you can make payments at one of these gambling sites. You can also
choose to use one of the sites that we have recommended above, or you can go
ahead and do your own research. We suggest you still read our reviews just to
get a sense of what we look for when reviewing and recommending any online
Connect Your Cryptocurrency Wallet to Your Gambling Account
When you find a site that is to your liking, then you can create an account
and head to the cashier section. There, you will find a link to BCH as a payment
method, and when you click on that link, a new window will likely appear where
you can enter your crypto wallet information. It will only take a few short
clicks to make the transfer, and within a few minutes, you will have money in
your account! From there, you are able to play games the same as you would with
any traditional currency.
One of the main
reasons these cryptocurrencies were conceived in the first place was to find a
way to truly encrypt and protect personal information when sending payments
across the world via the internet. BCH is very secure, and your account is
designed to be impossible to hack.
As we discussed, the
reason for the split from the original Bitcoin blockchain was to increase the
size of each block, which in turn would make all the transactions faster to
site knows you can’t simply lose and then call your credit card company claiming
fraud, it feels more comfortable letting you bet higher amounts if you have made
your deposit with BCH.
sites are paying up to 15% in processing fees for credit cards, so it is in
their best interests (and therefore yours) to recommend you use currency like
BCH for your transactions. This way, you will be charged less (if anything at
all) for your withdrawals.
We have seen
consistently better bonuses offered to players who use cryptocurrency to make
deposits, and we see no reason why this won’t continue.
The Risk of Volatility
BCH, along with the rest of the cryptocurrencies, is traded as a commodity, and
as a result, there have been some major swings in the value of BCH over the last
year. This means that your currency could be at risk of losing value regardless
of how you are doing at the tables.
BCH is a new
currency, and as a result, there are still major debates about its longevity.
One of the proponents of BCH happens to be online gambling legend
Calvin Ayre, so that is comforting for many of us in the online gambling
is still a newer currency, it is taking some time to have it adopted by the
majority of online gambling sites. We expect the number to grow, but today, you
will need to do your research to find all the sites that offer BCH as a payment
Bitcoin Cash Gambling Sites
It’s time to shift gears from the mechanics and history of Bitcoin Cash and
look at what types of sites you can use the cryptocurrency at for your deposits
and withdrawals. There are many different verticals, so we thought we would
break them down for you on a few different pages.
Bitcoin Cash: Sports Betting Sites
In honor of Calvin Ayre being so heavily involved in BCH, we thought we would start with this section. Sports betting is continuing to grow in popularity, and now with the chance to use cryptocurrencies like Bitcoin Cash at sports betting sites, we will see even more growth in the space.
Bitcoin Cash: Online Casino Sites
Casino games have been popular online for over 20 years, but the introduction of BCH casino sites open games to a new group of potential gamblers. There are some sites that allow you to play in the crypto you used for the deposit, so there is no fluctuation in exchange rates when you convert back and forth while playing.
Bitcoin Cash: Esports Betting Sites
If you haven’t heard of esports, we suspect you have been living in a cave for the last few years. These events, which pit professional video gamers against one another with large sums of money on the line, have become a great betting option for a younger demographic. This is also the group who is the early adopters of cryptocurrency, so it is a perfect match.
Bitcoin Cash: Online Poker Sites
Despite the challenges the online poker industry has faced in the United States, it continues to be a very popular game around the world. In fact, some of the earliest crypto-based gambling sites were poker sites. You can jump into your favorite cash game or play in massive multiplayer tournaments using BCH as your payment method of choice.
What’s Next for BCH?
It will be interesting to watch what the future holds for Bitcoin Cash. As it
shared a platform with BTC, one would have to assume that at some point there
will be a battle between the two. For now, we are very pleased that BCH is a
fast, safe option for making deposits at online gambling sites, and we have no
doubt that this is only the tip of the iceberg when it comes to this
cryptocurrency. If Calvin Ayre has his way, every gaming site will be offering
Bitcoin Cash as soon as possible!
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