Bitcoin and Cryptocurrency Payments in South African Casinos
Cryptocurrency deposits and withdrawals are beginning to show up in an increasing number of South African online casinos. They are quick, convenient, and cheap, with no transfer fees and instant settlements. Let's take a look at which casinos accept your crypto deposits, and what the upsides and downsides of using them are.
South African Casinos that Accept Crypto Deposits
What is Cryptocurrency?
Cryptocurrency is a novel form of money first introduced in 2009 by a mysterious developer called Satoshi Nakamoto (real identity unknown). It was meant as an electronic alternative to traditional money that doesn’t depend on authorities (like central banks) and doesn’t use intermediaries (like payment processors and clearing houses). It is a completely transparent and private means of money transfer that’s instant, secure, and untraceable.
How Do Bitcoin and Other Cryptocurrencies Work?
From the player’s perspective, cryptocurrency works a lot like traditional money. The main difference is in the convenience and the speed of deposits and withdrawals. Making deposits at online casinos using Bitcoin, Litecoin, or other supported crypto coins is always instant and free. Withdrawals take longer - but it’s because of the verifications and processing time at the casinos.
How To Use Cryptocurrency at Online Casinos?
- Log into your online casino account
- Head over to the Cashier
- From the available payment methods, select Bitcoin or other cryptocurrency supported by the casino
- Different casinos can accept crypto deposits in different ways:
- Most casinos will give you a unique address where you can transfer the funds
- Some use third-party exchanges to convert your Fiat currency into crypto coins and deposit it into your account
- Select the amount you want to deposit and the coin of your choice
- Follow the on-screen instructions
Why Use Bitcoin at South African Casinos?
Cryptocurrency is a quick and convenient payment method that is gaining increasing traction nowadays. And it is very accessible: you can use it without ever setting foot into a bank. Unfortunately, only a handful of South African online casinos support it.
The Downside of Using Cryptocurrency at South African Casinos
The only downside of using cryptocurrency to deposit to South African casinos is the exchange rate. Since they are not crypto casinos, these South African sites convert your crypto into Rands, and the exchange rates are not always to your advantage. Make sure you have the best exchange rate before completing your deposit.
Cryptocurrency FAQ
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Can I deposit using Cryptocurrency in my online casino account?
It depends on the individual casino. Most South African casinos don’t support cryptocurrency, but some do. Check the Cashier at your casino of choice for details.
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Can I withdraw Bitcoin and other cryptocurrency from my casino account?
Again, it depends on the individual casino. Check our casino reviews for details.
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Are there any fees applied to cryptocurrency deposits and withdrawals?
Usually, there aren’t any fees involved. But make sure you check the exchange rate before making crypto deposits.
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Is cryptocurrency safe?
As long as the casino where you deposit your cryptocurrency is secure and trustworthy, it is safe.