Bitcoin Cash is an evolution of Bitcoin via a ‘hard fork’ intended to increase the block size limit. It uses the blockchain technology to enable trading of assets easily and effectively. Cryptocurrencies gained popularity fast and the gambling industry did not hesitate to seize this opportunity. Now many casinos offer this type of currency as a payment method. Some of the best Bitcoin Cash casinos are listed below with their offers.
Bitcoin Cash cryptocurrency might have only been launched in 2017, but it is not actually ‘new’. Developers can introduce changes to a blockchain to make it faster, more advanced or capable of handling more transactions. If all of them can’t agree on such changes, a smaller group can create a copy of the blockchain. A breakaway such as this can create a ‘fork’, and Bitcoin Cash is the result of a Bitcoin hard fork.
It has faster transactions, greater scaling, improved security and low transaction fees. Thanks to these advantages, many online casinos have embraced this form of payment which has brought about efficiency as well as opened doors to many crypto-enthusiasts to join the gambling industry.
In order to provide a complete gaming experience, casinos offer promotions to both new and regular players. Deposit bonuses are the most common promotions and Bitcoin Cash deposits qualify for such bonuses. Some casinos go the extra mile and provide a specific bonus for using certain cryptocurrencies as a method of payment which is good news for cryptocurrency users. Check the list above to see the promotions specific to Bitcoin Cash and make sure to read the terms and conditions that these bonuses come with.
Cryptocurrencies are slowly but surely gaining traction. Security is a key feature for any transaction and an altcoin like Bitcoin Cash provides it. As you enjoy playing, you no longer have to worry about deposits and withdrawals since Bitcoin Cash has got you covered in every way. Other than security, the currency has many more advantages as you shall see below.
- Fees: Transaction fees are greatly subsidized allowing for low deposits without worrying about heavy transaction charges.
- Speed: Bitcoin Cash provides fast deposits and instant withdrawals and is also easy to integrate it with other payment methods.
- Scaling: The currency allows for on-chain transactions which increases block sizes allowing for more transactions.
- Privacy: The user remains anonymous and is assured of confidentiality when it comes to personal data.
No system is 100% perfect and even with the many advantages that Bitcoin Cash has, it still has a few hitches which are not that critical and do not outweigh its benefits. Some of the challenges include low acceptance since it is new to the market and has a long way to go and the lack of a distinguished address specification.
- Low Acceptance: Even though the popularity of Bitcoin Cash is growing, its acceptance is low but this will change with time since its reputation is building up fast.
- Address Specification: The addresses used by Bitcoin Cash are hard to distinguish from those of Bitcoin so you have to pay more attention not to send funds to the wrong chain.
Every transaction attracts a certain fee charge. As with most alt-coins, this is relatively low. Bitcoin Cash provides favourable rates. The developing team came up with an 8MB block size that allows for many transactions to be carried out simultaneously removing the need to have a high fee. Buying and selling BCH coins is also affordable so you can trade and acquire assets with ease.
Creating an Account
Whether you are a novice or expert at cryptocurrencies, creating an account at Bitcoin Cash is easy. All you have to do is simply head over to their website and create a wallet then you are good to go. The personal information provided should remain confidential to avoid cases of fraud. Another way to go about it is to get assistance from a cryptocurrency exchange recommended by Bitcoin Cash.
- Go to Bitcoin Cash website and click on “Wallet” to start creating your account
- Fill in the necessary details and make sure you keep your private key secure
Bitcoin Cash just like any other cryptocurrency is funded through two ways: trading or mining. Mining involves setting up an account and proceeding to verify transactions which are added to a blockchain in order to earn you coins. The other means is through trading where you can buy BCH coins using either local currencies or other altcoins. If you are familiar with trading you can buy on your own but if you are a newbie then you can link up with a regulated and licensed broker who will trade on your behalf.
- Purchase BCH coins using local currencies
- Alternatively, exchange altcoins for BCH coins
There are several casinos that accept Bitcoin Cash deposits and have proved that cryptocurrencies can be an easy way to make deposits. Depositing with Bitcoin Cash takes only a few minutes and is a simple process. All that is needed is to ensure that you have entered the right address to avoid having a wrong transaction since reversal is almost impossible.
- Copy the Bitcoin Cash wallet address of the casino
- Head over to your wallet and copy the address then confirm the transaction
Withdrawals are even easier and faster and only take seconds to complete. Once you want to transfer your accumulated wins to your personal Bitcoin Cash wallet, simply head over to the payment section and request for a withdrawal directly to your wallet.
- Select Bitcoin Cash as a withdrawal method
- Fill in your wallet address correctly and wait for a minute to check your new account balance
Cryptocurrencies have become a game-changer in the world of trading mostly because of its top security features. Data security is given more priority and that is why Bitcoin Cash provides a signature to every transaction on the blockchain and has to be validated and ratified for it to be complete. It is also the responsibility of every user to ensure that their assigned private key remains secure and not easily accessible to hackers and fraudsters. To further protect your wallet, you can have additional security features such as codes or email verification. You can also improve security by having a cold storage offline vault away from any online malicious activity.
Bitcoin Cash is a decentralized cryptocurrency which is run by multiple independent teams. The currency has opened doors to anyone and there are no restrictions whatsoever in becoming part of its blockchain community. Online casinos have also not been left behind and have incorporated cryptocurrencies as a payment method with some casinos even using cryptocurrency as their only payment means. This has increased its popularity and proved that cryptocurrencies can go beyond assets trading to also iGaming. With advantages such as ultra-low fees, no chargebacks, tight security, and fast transactions, there is no reason why Bitcoin Cash cannot be your preferred method of payment.