With the insanely high value of bitcoin, casinos began to speculate this form of cryptocurrency. Its ever changing value makes it possible for casinos to get involved in day trading with the cryptofunds they get from players who use this payment method. Nonetheless, players are also attracted by the very same things.
How they work
There are casinos who accept only bitcoin while the majority of them offer this payment method as an alternative to many others. Bitcoin bonus codes are for those who pay in bitcoin, obviously. Casinos are trying to stimulate players to choose cryptocurrency payments in order to bypass the fees related to regular banking transactions, be it electronic or directly through banks.
Such bonuses can be made of an actual string of characters or they can be redeemed automatically when specific conditions are met. In the first situation, you have to enter that exact code in a certain field you will probably find at the My Account section. The issuing casino will give you all the details you need as to how to use the code.
As for the other type of bonuses, you might wonder what conditions must be met. Each bonus has its own conditions imposed by the casino that offers it. Most likely, it’s about making a deposit through a bitcoin wallet. There can also be restrictions regarding identity verification to minimize the risk of fraud.
For starters, you can get in-game currency in the form of bitcoin. Most casinos give small amounts of Satoshi for players to wager in certain games, usually slots. The point is to allow you to test a certain game and if you’re hooked, to invest more. Either way, you should be aware of each bonus’ wagering requirements to make the funds available for withdrawal.
Other casinos prefer to offer free spins to users who pay with bitcoin. This is a quite common type of bonus. You might have to verify your phone number by receiving the code via SMS to enter it in the proper field within a certain timeframe.
That being said, here are a few examples of common bitcoin bonuses:
$10 worth of BTC for slots
20 free spins for paying in BTC
$5 worth of BTC for poker
The amounts are so small because many of them are no deposit bonuses, meaning you don’t actually pay anything to get them, but you might have to go through an ID check. Bonuses awarded after you credit your account with a minimum amount of BTC are higher and usually target newcomers. They are supposed to be attractive in order to convince people to join.