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Intro to Bitcoin
- 2008: The Bitcoin white paper was published under the pseudonym Satoshi Nakamoto, presenting the concept of a decentralized digital currency
- 2009: The first Bitcoin transaction was made between Satoshi Nakamoto and Hal Finney, who bought two pizzas for 10,000 Bitcoins
- 2010: The first Bitcoin exchange, BitcoinMarket.com, began its operations
- 2011: The Silk Road online black market began accepting Bitcoin as a form of payment
- In 2012, the first Bitcoin casino that accepts only bitcoins as payments was launched
- 2013: The price of Bitcoin reached $1,000 for the first time
- 2017: The price of Bitcoin reached an all-time high of nearly $20,000
- 2021: El Salvador became the first country to adopt Bitcoin as legal tender
- Some casinos offer live dealer games that work only with cryptocurrencies.
|🤵 Сreator :||Satoshi Nakamoto|
List of Top Irish Casino Bitcoin Sites in 2023
Irish casino enthusiasts’ key concerns lay in safe banking practices. This has led a large number of Irish players to opt for cryptocurrencies. Bitcoin casinos in Ireland have attained much popularity due to their swift transactions, fast withdrawals, supporting a wide range of games, etc.
How to Get Bitcoins
There are two methods of getting bitcoins. One has to either buy it from the bitcoin sellers or simply earn them. As the player is aiming to buy bitcoins, they require exchanging fiat currency for seeking a specific amount of cryptocurrency. Players can aim to purchase bitcoins via the following channels.
- Purchase through online trading platforms such as Kraken, BTC-e, and Bitstamp.
- Bitcoin ATMs serve offline or exchange with peers.
- Buy using payment methods like SEPA, ACH, wire transfers, or other bank transfers.
- Use alternative payment systems such as credit cards, regional payment vouchers, or e-wallets (though less common)
- "Investment Brokerage" consider waiting for favorable prices as bitcoin prices fluctuate like any other commodity
Players can also seek bitcoins for free by choosing games that fetch bitcoins as a bonus. They can also mine bitcoins. Other methods such as accepting bitcoins as payment methods for ‘rendered services’ can also opt.
Bitcoin Gambling And Taxes in Ireland
Though bitcoins differ from traditional methods of payments, the basic rules, and regulations imposed by federal departments apply to them as well.
Taxes are likely to be charged only if the player has sold bitcoins. No taxes are charged if a player stores bitcoins in the digital wallet, or buys them.
Thereby, the Capital gains taxes for Ireland are the same for all transactions, which is around 33%. In Ireland alone, around 10% of adults have possession of bitcoins, among which 72% reveal to be men, and the rest 28% identify as females.
This indicates Ireland’s wide access to the online gaming industry, which the Malta Gaming Authority or the UKGC usually licenses. Moreover, Ireland has amended several laws such as the Betting Acts (1931), Totalisator Act (1929), and National Lottery Act (2013) which govern and acknowledge crypto gaming in Ireland.
Bitcoins taxes are also dependent on the bitcoin casino fees and withdrawal charges. So, players should always check out the percentage of taxes being charged for each casino.
Step-by-Step Guide for Making a Deposit
Deposit speed is generally fast but can be delayed by third-party services that take several hours to add transactions to the blockchain. For making deposits in bitcoins players require:
It should be noted that the steps outlined above illustrate the process of deposit at Pledoo Online Casino as an example. Although other online casinos may have slightly different procedures, the general sequence of steps is expected to be similar.
However, please be advised that we cannot assume responsibility for any discrepancies in deposit procedures between different online casinos.
Step-by-Step Guide for Withdrawing
While gambling platforms vary in interface, user experience, and design, they follow the same procedure for withdrawals. Once playthrough conditions are met, you can collect your winnings through a few simple steps.
Please note that the steps described above demonstrate how to winnings at Pledoo Online Casino as an example. While other online casinos may have slightly different procedures, the overall process is expected to be similar.
Please be aware that we cannot take responsibility for any variations in withdrawal procedures among different online casinos.
Comprehending the Terms and Conditions of Bitcoin
When it comes to Fees & Limits for Bitcoin transactions, there are a few things to keep in mind. Firstly, transactions can incur a charge of around 5% to 6% of the total fiat money being exchanged, which generates the necessary fees for converting fiat money to cryptocurrency. Additionally, players are able to deposit up to € 5,000 worth of Bitcoin per day.
In terms of transaction times, deposits are typically very fast. After the deposit is made, it must be added to the blockchain and receive a few confirmations, with Bitcoin requiring around 3 confirmations.
For withdrawals, around 1% of the total withdrawal amount will be deducted as a transaction fee. However, Bitcoin ATMs provide an alternative option for withdrawals, allowing users to withdraw up to € 900 per day without needing to go through AML or KYC procedures. For KYC-verified accounts, the withdrawal limit increases to € 5,000 per day. Withdrawal speed is usually 1-3 days is the time it takes to verify the blockchain.
|Minimal Deposit||€ 10||Instant||up to 6%|
|Maximal Withdrawal||€ 5,000 per transaction||1-3 days||up to 1%|
Casino Bonuses Bitcoin in 2023
In this section we will present the best casino bonuses that will improve your online casino gaming experience and what kinds of bonuses you can get when using Bitcoin.
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Top Online Casinos Accepting Bitcoin
Numerous top-rated virtual casinos offer the option of using Bitcoin as a means of funding accounts and playing preferred games. Here are some of the prominent online casinos that accept Bitcoin:
|1||Playzilla||3,000+||up to $ 1,500 + 500 Free Spins||€ 10||€ 5,000|
|2||ExciteWin||2,500+||100% up to €500 + 200 Free Spins||€ 10||€ 5,000|
|3||Slots Palace||1,000+||300% up to €1,000 + 170 Free Spins||€ 10||€ 5,000|
|4||BitSpin||2,00+||100% up to €300 + 200 Free Spins||€ 20||€ 5,000|
|5||CasinoFriday||1,000+||100% up to $500 + 200 Free Spins||€ 10||€ 5,000|
Advantages and Disadvantages of Using Bitcoin
We will explore the advantages and disadvantages of using Bitcoin to help you make an informed decision on whether it is right for you.
- There is no requirement for deposit fees. Withdrawals and capital gains are subjected to a percentage fee
- Bitcoin wallets can be bought online, or they can simply be downloaded from the existing mobile app
- Assurance of complete anonymity
- Transactions are extremely swift and barely take some minutes
- Bitcoin wallets provide ‘High-end’ security to their users
- Bitcoin value tends to fluctuate with the markets. Therefore, it is difficult for the users to rely on a particular valuation
- It is relatively new to the transactional domain and requires much testing.
- Older generations of players may find it difficult to utilize
- There might be a low probability of bitcoins being lost since it is a digital currency. However, it is prone to get lost in cases of system failures. Though the chances of it happening are very low
- Using Bitcoin at a gambling platform may incur conversion fees when buying or converting it back to fiat currency. Fees differ between exchanges and casinos, adding an extra cost to using Bitcoin
Staying Safe While Bitcoin Gambling
Many players are in question the safety of bitcoin gambling. Though bitcoins use up blockchain technology, few measures should be taken by the players themselves to ensure safe practices in bitcoin gambling.
- Choosing reputable sites: This is of utmost importance to prevent any cases of scams. Reputable casinos and sites are also on the lookout for games that remain as independent audits of fairness, bearing licenses from the gaming authority like the Gaming Authority of Malta, United Kingdom Gaming Commission (UKGC), etc.
- Passwords: Since bitcoins do not involve registration or personal data, they choose to offer security and personalization to the player using a high-security password.
Exchanges are centers for bitcoin trade. There is a possibility that players might get scammed. Thereby, they must check for the authenticity of the Bitcoin value, and purchase bitcoins only from a verified seller.
Bitcoins are simply anonymous, which implies that all modes of personal data remain abstracted or anonymous while making the transactions:
- All a player requires is to log in using a password
- They need to undergo the KYC requirements, but they can also dodge that for quite some time by avoiding the “KYC requests”
- Some casinos offer “fully anonymous” accounts, which indicate that players can continue playing their preferred games without any hassles of revealing any of their info
- Moreover, all the bitcoin transactions made are never recorded in the bank statements
- All a player requires is to install a crypto wallet and store their deposits
Given the existence of numerous crypto wallets functioning on mobile devices, Bitcoin can be used from any location. Whether you utilize a hardware or desktop wallet, you can conduct Bitcoin transactions on the move with minimal information required - only your wallet address and the specific amount you intend to send or withdraw from the casino.
The functioning of Bitcoin relies entirely on its network, which uses a peer-to-peer system based on cryptographic protocols. Consequently, if you face any issues with the cryptocurrency or your casino transactions, you will not be able to seek assistance from a banking institution or service provider.
However, you can seek help from the customer support team of the casino you have registered with. Many Bitcoin-friendly casinos have a dedicated FAQ section for BTC users, and there are also specialized Bitcoin websites that you can turn to for support.
Alternatives to Bitcoin
While Bitcoins grow in popularity, Irish players also prefer other payment systems which are equally credible and safe. From PayPal to Neteller, each of these offer a multitude of benefits.
|Payment System||Fees||Min-Max Deposit||Min-Max Withdrawal||Withdraw Time|
|PayPal||Free||€ 10 - 10,00||€ 10 - 10,00||Instant|
|Trustly||Free||€ 5 - 10,000||€ 20 - 10,000||Instant|
|ecoPayz||Free||€ 10 - 4,000||€ 10 - 4,000||Instant|
|Revolut||Free||€ 10 - 1,000||€ 5 - 5,000||Instant|
|Neteller||up to 7.5%||€ 10 - 5,000||€ 10 - 5,000||1 - 5 days|
My findings show that the use of bitcoins has so revolutionized the gambling sector that about 55% of millennials own cryptocurrencies. Moreover, about 80% of them are interested in making daily transactions using cryptocurrency. The fast and easy way to pay is certainly gaining more and more followers. Maintaining anonymity also keeps players safe.