Bitcoin Cash Casinos
Cryptocurrencies are rising in popularity thanks to a multitude of factors. One of the main reasons is that many people realize how easy it is to transact with crypto. There are no currency conversion fees, no credit card or bank fees, and you can send money anywhere! The most popular cryptocurrency is Bitcoin, but there are many other cryptocurrencies, including Bitcoin Cash. Although the name seems the same, these two currencies are pretty different. At GambleGuys, our goal is to give you everything you need to know to use crypto at casinos – including Bitcoin Cash casinos. So, without further ado, let’s explore what Bitcoin Cash is and how you can use it for gaming!
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What Is Bitcoin Cash?
Before getting into how you can use Bitcoin Cash at online casinos, it’s first worth reviewing what Bitcoin Cash is. Bitcoin Cash is a cryptocurrency, much like Bitcoin, Ethereum, Litecoin, and Dogecoin. Bitcoin Cash goes by the symbol BCH, so if you ever see “1 BCH,” for example, that means one Bitcoin Cash. Like any cryptocurrency, you can use Bitcoin Cash to send and receive digital “money.” Friends can send you Bitcoin Cash, and you can send them this cryptocurrency. Some businesses, including online casinos, will accept BCH as a payment and withdrawal method. You’ll need to buy some Bitcoin Cash to get started. Usually, people purchase cryptocurrencies through exchanges, but if you have a friend, relative, or other acquaintance willing to sell you some Bitcoin Cash, that will work, too!
How Does Bitcoin Cash Work?
Even though “Bitcoin” and “Bitcoin Cash” might sound similar, they are not quite the same. To understand why BCH exists and how it works, we first need to review Bitcoin’s history and shortcomings. Even though Bitcoin might be the world’s most famous (and well-known) cryptocurrency, it has a few glaring problems. The biggest one is the speed of transactions on the network. The latest data shows that the number sits at around 4-5 transactions per second. By contrast, the VISA network can handle 1,700 transactions per second.
Indeed, if you try and make a payment or receive funds with Bitcoin, you could be waiting minutes or more for the transaction to settle. While Bitcoin has many advantages, sadly, speed is not one of them.
Recognizing this as a potential issue for the survivability and adoption of Bitcoin in the future, a group of previous Bitcoin miners and developers got together in August 2017, took the Bitcoin source code (it is open-source, after all), and created a new currency, Bitcoin Cash. This currency was effectively Bitcoin under the hood, but it had one crucial distinction: it increased the block size to 8 MB to accelerate the process of verifying transactions. Furthermore, the verification difficulty level would fluctuate dynamically based on the number of miners and transaction levels. Therefore, no matter the conditions, sending and receiving Bitcoin Cash would always be faster and more scalable than the original Bitcoin. Indeed, while the original Bitcoin is processing under five transactions per second, Bitcoin Cash can process up to 200 transactions per second.
While that’s not approaching VISA’s 1,700 transactions every second, it’s a step in the right direction – and it means that if you use Bitcoin Cash to send or receive money, you’ll complete the transaction quicker than if you chose Bitcoin!
How to Use Bitcoin Cash at Casinos
With Bitcoin Cash and Bitcoin backstory out of the way, it’s now time to look at how you can use this payment method at your favourite Bitcoin Cash casinos! Fortunately, it’s relatively straightforward, and most of the best crypto casinos will support BCH.
Casino Deposits with Bitcoin Cash
To deposit funds with a casino that uses Bitcoin Cash, you’ll need first to ensure the casino takes this cryptocurrency. Since BCH is not as popular as Bitcoin or Ethereum, for example, you’ll want to be extra sure the casino accepts this coin – so look for the Bitcoin Cash logo somewhere in the list of supported deposit methods.
If the casino supports Bitcoin Cash, making a deposit is quite simple! If you don’t have a Bitcoin Cash wallet, your first step is to get one of those. There are numerous ways to do this, but the most common is using a wallet from a crypto broker. When you buy and sell Bitcoin Cash on a cryptocurrency trading platform, they’ll usually provide you with a wallet that you can use to send and receive funds.
You’ll want to select that you’re depositing with Bitcoin Cash within the casino. The casino will then provide you with their Bitcoin Cash address. It will probably look something like this: bitcoin cash:rp3wyha3tjlj042z2wd2hahsldgwhwp9rq9sywjpxn
You’ll then go to your wallet, copy and paste that address to send the crypto, and enter the amount you want to send. Once you do that, usually, the casino has an automated system that will check for deposits and record yours as complete once it goes through.
Casino Withdrawals with Bitcoin Cash
Making deposits with Bitcoin Cash is easy, and so is withdrawing funds!
If you’re looking to withdraw money from the casino, you’ll also need a wallet. The process works essentially as it did to make a deposit. You’ll initiate the withdrawal from the casino. Typically, they’ll ask you early on for the Bitcoin Cash address where they’ll send the funds. You’ll provide them with your wallet address. Once they approve the withdrawal, the casino will send the money to your wallet, and your funds will be available for you to use as you like! You can convert them into your local currency, or you can always make another deposit at one of the many Bitcoin Cash casinos to keep the fun going!
Is Bitcoin Cash Safe to Use at Casinos?
Yes! Bitcoin Cash retains most of the same security and integrity as Bitcoin, considering it was a fork of the original Bitcoin code. With that said, the developers made the verification process a bit simpler to make processing transactions easier. Technically, that makes Bitcoin Cash slightly easier to manipulate than Bitcoin. However, there have not been any successful significant attacks on the Bitcoin Cash network. Most people should feel pretty confident about spending and receiving BCH!
Best Online Bitcoin Cash Casinos
While there are many Bitcoin Cash casinos online, you’ll want to ensure you’re playing at the very best. Typically, the very best crypto casinos have three characteristics that make them the top in their category.
- They offer impeccable Bitcoin Cash support.
- They have incredible customer support.
- And, lastly, they offer all the games you want to play!
The best casinos accepting Bitcoin Cash are the ones that will prioritize, promote, and provide a seamless experience using this cryptocurrency. If you see a casino that doesn’t support Bitcoin Cash or supports it poorly (e.g., slow deposits or withdrawals or high fees), that’s how you know you’re not dealing with one of the best in this area. The best online casinos will have low-to-no fees and lightning-fast deposits and withdrawals. After all, that’s one of the benefits of using crypto – you don’t have to wait as long for your funds to arrive.
Additionally, you’ll want to pay attention to the customer support offered. If you see a casino with minimal support, that’s a red flag. While you may not need help right away, you want to know there’s a team of dedicated specialists that can answer any question you might have. After all, you don’t want to be sitting around wondering when your withdrawal might process! Look for online chat and email, minimally, and preferably a phone number.
Lastly, make sure the casino has numerous games. You don’t want to be browsing all the latest and most incredible games here at GambleGuys and miss out because the casino doesn’t have them. Look for the casinos that have games from all the top providers!
Should You Use Bitcoin Cash? Here Are the Pros and Cons
At GambleGuys, we aim to bring you the best casinos accepting Bitcoin Cash and discuss the benefits, and potential drawbacks, of using this payment method.
As with most crypto, there’s a significant upside to using BCH for your casino transactions – they’re safe, secure, and remarkably straightforward. There are also no currency headaches, a potentially substantial drawback if your native currency is not one that your preferred casino supports. You won’t lose on currency conversions since you’re depositing and withdrawing in BCH.
The only significant con to using Bitcoin Cash is that it does have a somewhat steep learning curve. You’ll need to get a wallet, and you’ll need to fund that wallet, typically with a crypto trading platform. And, as with any cryptocurrency, you’ll need to keep your wallet carefully guarded – if you lose access to it, you’ll lose your funds!
However, those cons apply to any cryptocurrency. The bottom line is this: if you want to use crypto for your casino transactions, Bitcoin Cash is faster and often less expensive than Bitcoin, making it an ideal solution for gamblers globally!