|Information about BCH Casinos|
|Year established||2017 (Hard Fork)|
|Market capitalization:||~ 2 billion|
|Best BCH Casino:||Lucky Dreams|
|Best BCH Bonus:||Bitstarz|
Bitcoin Cash is still a fairly young peer-to-peer currency. peer-to-peer currency and a fork of the better-known Bitcoin. What stands out here in particular is the fact that with the new variant of the well-established coin, transactions are faster transactions can be guaranteed.
The decentralized and digital currency was developed as a hard fork back in 2017 and apparently offers some advantages compared to the original Bitcoin, which has been around since 2009.
The said fork had a decisive reason, because essentially the developers, such as co-founder Roger Ver from Australia, were concerned with significantly increasing the block size limits compared to BTC. In the case of BCH, these are 8MB instead of the 1MB known from Bitcoin. However, the protocol extension Segwit was not adopted, which in turn results in faster transactions.
Both coins, i.e. Bitcoin and Bitcoin Cash, keep an identical transaction history until the spin-off on September 1, 2017. This fact alone ultimately inspires confidence because, after all, no cryptocurrency is better known and more renowned around the world than the Bitcoin.
The decision to fork was made because there were discussions about the transaction volume as well as the scaling of BTC. Satoshi Nakamoto, the inventor of the coin, was of the opinion at the time that larger blocks were significantly more secure and could solve the scaling problem. Processing was taking longer and longer, so they were specifically looking for a solution that could speed up transactions can be accelerated.
The best BCH casinos in the test
Direct deposit with BCH is possible with a few providers via corresponding wallets. The most common are Bitpanda, Binance and Coinbase although there are certainly some similarly structured alternatives.
Currently the BCH is accepted by the following online casinos:
How Bitcoin Cash works in the online casino
Provided a provider is found that accepts BCH, the deposit can be made relatively uncomplicated. The basic prerequisite is, of course, your own player account. In addition, a wallet must be selectedthrough which BCH can be purchased.
The purchase of BCH as such is completed in a few simple steps. Each wallet, whether Bitpanda or alternative providers, has an individual address. Such an address is created by the Bitcoin Cash casino at the same time. This must be entered during the payment process so that the sending of the selected amount is completed.
It is enough to copy the address copy the address displayed by the casino and paste it into the transaction form. For each booking, there is a new wallet address that can be automatically assigned to the player account. This fact should definitely be taken into account so that the credit arrives reliably. A conversion into real money currency usually takes place immediately at the provider.
Advantages & disadvantages of BCH casinos
- What are the advantages of using Bitcoin Cash as a casino payment method?
- What are the disadvantages with BCH casinos?
1.) What advantages does the Bitcoin Cash offer as a payment method in the casino?
Currently, there are just with online casinos some hurdles due to the new transitional regulations. Among other things, 1,000 euro deposit limits as well as massive wagering restrictions have been set. At the same time, more and more classic payment providers are withdrawing from the virtual gambling industry.
This is exactly where digital assets like BCH come in. These are not bound to the traditional market economy, and of course not only in connection with online casinos. In addition more and more companies are turning to cryptocurrencies, as these offer a significantly higher flexibility offer.
Currencies such as Bitcoin Cash can now be purchased via all standard wallets. Compared to the classic Bitcoin, the BCH offers even more advantages, because the purchase is almost free of charge. If at all, small flat fees are incurred. The rates are largely stable, and the transaction as such is also innovatively secured.
The main advantages of BCH at a glance:
- Very low fees
- More privacy for investors
- Exclusive promotions
- Decentralized cryptocurrency
- Stable & secure exchange rates
- Reliable transactions
Basically, it can be stated that account transactions, even if they are made via cryptocurrencies, are visible. Nevertheless, methods like Bitcoin Cash offer more security. Legally, the payment is also. There are only a few countries that generally ban digital currencies. These are, for example, Afghanistan, Saudi Arabia or Bolivia. Australian customers are not affected by this ban.
2.) What are the disadvantages with BCH casinos?
BCH cannot guarantee complete anonymity. At the end of the day, what users do on the Internet is always visible. Despite everything, Bitcoin Cash once again seems to be much better protected than Bitcoin, from which it was split off in 2017. Probably the biggest disadvantage for players is that the selection of BCH casinos remains manageable to date. remains.
The disadvantages at a glance:
- Not completely anonymous
- Sometimes accepted by fewer casinos than BTC
- Exchange fees may be incurred by the wallet
Possible exchange rate changes can also be disadvantageous. Basically BCH online casinos pay out the daily rate. out. So, if something changes in the value, it will be automatically taken into account in all transactions.
By the way, the fees for the exchange can vary depending on the wallet. Therefore, we recommend a targeted comparison of several providers here.
Tips & tricks for payment with BCH
A special feature of this cryptocurrency is that there are now around 5,000 physical acceptance points worldwide. exist. Accordingly, Bitcoin Cash is quite a promising alternative to real money – also and especially in online casinos without a license.
It is essential for players to opt for a crypto wallet. There, BCH can be bought and held – mostly even with the option to trade them to trade them on the side, if one wants to do so.
Tip: One should take a close look at the current prices and make the purchase when the price per BCH is just going down. This offers a sometimes enormous savings potential.
Bitcoin Cash FAQs
While Bitcoin has met with very high acceptance among gamblers as well as casino operators, Bitcoin Cash is a payment method that has yet to establish itself. For this very reason, we have taken a close look at the most important questions and summarized detailed answers:
- Questions and Answers about BCH Casinos in Australia
- Are BCH payments possible free of charge?
- Is there a BCH bonus in the casino?
- How can you buy Bitcoin Cash?
- Which casinos accept BCH?
- How reliably does payment with Bitcoin Cash work?
- Will I also receive the payout via BCH?
- Which BCH alternatives are worthwhile?
Questions and answers about BCH casinos in Australia
1.) Are BCH payments possible free of charge?
Most of the well-known online casinos do not charge for deposits and withdrawals no fees – although exceptions prove the rule. However, costs may still be incurred because the Bitcoin Cash balance must be exchanged for real money during the transaction.
So-called exchange fees can sometimes be quite expensive. Especially in view of this fact, it is worthwhile to compare the terms and conditions of different to compare the terms and conditions of different wallets. Here you can sometimes save a considerable amount of money.
2.) Is there a BCH bonus in the casino?
Basically, a starting credit is not excluded, should the deposit be made via BCH. Whether the welcome bonus for new customers is granted, ultimately depends on the provider. While better-known payment methods such as Neteller and Skrill are increasingly an exclusion criterion, it is therefore possible that the bonus credit is granted automatically or by entering a voucher code after depositing the required minimum amount.
3.) How to buy bitcoin cash?
The purchase of cryptocurrencies of any kind requires the registration with a crypto wallet Prerequisite – for example, at Bitpanda, Exodus or Binance, to name just three options. Once a separate account with an individual wallet address has been set up there, it is possible to deposit real money in various ways. This can then be exchanged for any coin against exchange fees.
Most established wallets offer BCH alongside dozens of other coins for purchase, whereby complete BCH coins do not necessarily have to be purchased. Small shares can also be purchased at the daily updated price.
4.) Which casinos accept BCH?
In fact, the selection of Bitcoin Cash casinos is not yet large. Even providers that accept alternative cryptocurrencies such as Bitcoin, Ethereum or Litecoin do not necessarily have to provide BCH as an option.
Most well-known companies with BCH acceptance in Australia are currently:
Most competitors in the industry sometimes exercise discreet restraint, which may be due in part to the fact that the spin-off of the classic Bitcoin has only been around for a comparatively short time.
As things stand now, however, it can be assumed that the BCH will also gain more and more will gain more and more importance. One of the main reasons for this is its current price, which is still relatively manageable in direct comparison to the original Bitcoin at around 285$.
5.) How reliably does payment with Bitcoin Cash work?
First of all, it can be stated that the developers of the BCH have relied on a very robust and secure blockchain technology set. This makes it almost impossible for hackers to gain access – which in turn is advantageous for those who either trade with BCH or deposit Bitcoin Cash into the online casino. Accordingly, there is no doubt whatsoever about the reliability.
However, when we talk about security, especially with cryptocurrencies, price fluctuations must always be taken into account. the price fluctuations must always be taken into account. It is difficult to predict how the price will turn out when a payout of winnings is pending in the preferred casino. Especially coins like this sometimes fluctuate enormously. This must be taken into account when making a decision, similar to Bitcoin itself.
The choice of wallet is also important. Bitpanda and Binance are particularly reliable, but Coinbase and Exodus can also keep up with the two renowned wallets in terms of security measures.
6.) Will I also receive the payout via BCH?
To clarify this question, it usually helps to have a short live chat with the preferred crypto casino. We have worked at 20Bet and it was confirmed that the winnings are always paid out in the currency in which the deposit was made.
So, if you decide to make a transaction with Bitcoin Cash, you will receive these coins in the course of the withdrawal request to the specified wallet. In the casino itself, on the other hand, the game is played in real money currency.. The conversion is always carried out according to daily rates, which can be easily tracked on the exchange, be it Bitpanda, Coinbase or Binance.
7.) Which BCH alternatives are worthwhile?
How Bitcoin Cash will fare in the long term cannot be predicted at this point in time. That makes it all the more sensible, especially for casino players, to know about alternatives. The best known and ultimately the model for BCH is Bitcoin itself, from which the new coin was spun off in 2017. In addition to this, there are also Ethereum and Litecoin are proven options, which are becoming more and more important in both the innovative gambling industry and the crypto market itself.
Conclusion on Bitcoin Cash Casinos
Pros and cons are currently still close together when it comes to BCH. Essentially, it can be stated that the cryptocurrency, in addition to Bitcoin, Etherum and Litecoin is one of the safest. After all, it is not a "new invention" by some resourceful coin developers, but a fork of the world's most successful cryptocurrency..
Bitcoin itself is only suitable for investors to a limited extent today, while a BCH is currently with only about 285 euros remains affordable even for players who do not want to invest a fortune in digital assets.
Critics fear that Bitcoin Cash will have difficulty surviving alongside Bitcoin in the long term. Whether this assumption is true can hardly be predicted at this point. However, the fact is that at least some of the major online casinos are willing to accept BCH as a means of payment. And provided things continue as they have since the 2017 spin-off, more providers could follow suit.
Author: Peter McCollinRated: BCHAuthor Rating: