Bitcoin Casino Websites in New Zeland
What is bitcoin casinos and how do they work
Bitcoin online casino is usually referred to as a virtual venue that
- includes Bitcoins as one of their played currencies (Bitcasino.io, 7Bit Casino, and BitStarz)
- only accepts bitcoins for funding or withdrawals via wallet (i.e. no other currencies allowed, like in mBitCasino or FortuneJack).
In NZ, they operate pretty much like any other online house on the web, although they add more flexibility for the gambler when it comes to the payment. Usually, those providers that are bitcoin-only create the communities to bring the digital revolution to the gaming table too.
How legality of bitcoin gambling is regulated in New Zealand
Bitcoin casinos in NZ have more straightforward regulations comparatively to the same institutions in other countries for a few reasons. First, the crypto market is more developed, and the “weird” currencies like Bitcoin, Litecoin, or Ethereum among others are nothing new here. Second, the 2003 Gambling Act prohibits most forms of online gambling from the providers based in the region but has no forbidding law about playing on overseas venues. Third, and the most important thing all bitcoin gamblers in NZ should know: even though there is no government-issued document that legalizes the status of cryptocurrency, the local IRD has an article on taxation of crypto “in progress”. What does that mean? If they are about to impose taxes on crypto, they are about to place it within the legal framework. By the way, just like with online wagering, you won’t find any law that strictly prohibits it. As they say it in the lawyers’ community, what’s not directly forbidden is allowed.
Advantages of NZ bitcoin casinos
Those who bet at BTC casinos are aware of the reason why they are the best option in the ever-progressing world of digital life. Let’s review the perks of choosing bitcoin gambling sites over any other.
- The financial transactions are untraceable and secure. If you ever longed for becoming invisible, a part of your wish is granted. When going crypto, none of the payment is made visible on your official credit score, which won’t affect your reputation of, let say, a potential real estate buyer.
- They are fee-free. Yes, leave the transaction fees for the hardcore old-schoolers because they are an odd element in today’s way of iGaming.
- The winnings are all yours. No freeze, take-overs or seizures – nobody can’t get to your funds without your consent.
- Uploading money in no time. Forget the processing time – the bitcoin online casino gives a superpower of being ultrafast.
What about the safety and anonymity of bitcoin casino deposits?
The blockchain nature of cryptocurrency has the confidentiality and uninterruptedness in its core. All the financial operations are decentralized, and as a player, you are in incognito mode while winning or losing. Not like the Chrome incognito, like the Harry Potter incognito.
Bitcoin casino deposit process
Alright, you already got it that crypto is good for betting and trusted by the advanced digital community. Now let’s have a look at how to deposit at the venues that accept bitcoin.
If you have a Bitcoin Wallet
If you are already a cryptocurrency user with the active account and funds available, then you just opt for Alternative payment as your deposit method and link your account to the player’s profile. To send money to your gambling profile, you simply put the bitcoin address of the venue.
If you are new to the crypto game
No worries, there are many exchange sites that can convert your currency into Bitcoins and use any e-wallet that supports this feature. The good news is that many new bitcoin casinos offer their own service so that you can do everything in one place. C-convenience!
Available casino withdrawals methods
This is basically depositing going backward. To initiate Bitcoin casino withdrawal, you choose it as your currency and provide the digital venue with your wallet address. In less than 24 hours, you’ll receive the notification about the completed transactions. No magic, spells or prayers – pure technology at work.
Bitcoin transactions speed
One of the reasons why people are seeking alternatives to traditional banking when gambling is the speed that accompanies the transactions. From this perspective, e-money is claimed as the fastest payment casino option out there. Those who play bitcoin enjoy instant fundings and quick cashouts with the highest security level on the side.
How to convert NZD to Bitcoins and backward
The exchange sites can do that for you and do that safely. Whatever is your input currency (in our case NZD), it will process the conversion quickly and upload to your e-money account. Because this type of crypto is the most used one, there will be no problem in finding the merchant who does that. Some casinos have this feature onsite, so you don’t even bother yourself with additional googling. Just link the wallet to your profile.
- 📌 What do I need to do if a have no bitcoin account? How to create it?
- If you don’t have an account for e-currency but want to start with it in the casino, you need to create one. Usually, the provider asks if you have an electronic wallet, and either ask to sign in and connect it with the player’s account or send you a redirect link to the Bitcoin registration page to create one. You’ll need your email address, phone number, personal identification information, and a smartphone to download the app to do it on the go. Note that you’ll be asked to verify your contacts and wait until they review and verify them.
- 🎱 What is the minimum deposit amount in bitcoin casinos?
- There is no universal rule as for the low minimum deposit amount in Bitcoins for playing the e-money digital venues. It can vary from 0.0001 BTC to 3 BTC, and we do recommend to check this information beforehand to use one that fits your situation to avoid any inconvenience.
- 🤔 What is the maximum deposit amount in bitcoin casinos?
- Off the limits is the motto of BTC casinos as they have NO restrictions when it comes to the maximum amount for a deposit. Send what you wish and gamble as much as you want on the sites of your choice -- and no strings attached.